Countries where crypto currencies are fully/partially banned in 2020

If you are someone who is thinking of buying or investing in cryptocurrencies like bitcoin or ducatus coin, check whether the same is accepted as a legal tender within your country or not. Ronny tome, who has made some big name in the cryptocurrency world after found the recent crypto sensation- Ducatus coin, also voices his opinion in the same regards.

As per him, while Japan and various other countries have welcomed the cryptocurrencies like bitcoin and ducatus coin with both hands, there are some nations like India that are still in the process of legalizing the cryptocurrencies within their territories.

That said; let's take a look at the list of countries that have fully or partially banned the cryptocurrencies within their territories.

Countries that have put a complete ban on cryptocurrencies

This is a list of countries that have completely banned the trading and speculation of crypto9currencies within their geographical boundaries. In these regions, cryptocurrencies like bitcoin and ductaus coin are been looked at as a bigger threat to the existing financial system of the country.

Speaking of the list of countries where cryptocurrencies are completely banned, it includes:

•             Saudi Arabia

•             Pakistan

•             Qatar

•             Algeria

•             Bangladesh

•             Vietnam

Ronny tome says that these countries mostly go by their traditional and conventional financial system hat does authorize the usage and functioning of any separate financial entity within its financial ecosystem.

Countries that have put certain restrictions on cryptocurrencies

On the other side, there are some countries that has partially banned or put restrictions on the trading and exchange of these cryptocurrencies. Even though the cryptocurrencies are not banned completely, the banks, financial institutions, and the general public have been prohibited from using the cryptocurrencies in either way. The list includes:

•             China

•             Ecuador

•             India

•             Morocco

•             Nepal

•             Zambia

•             Egypt

Ronny tome says that if we talk about a country like India, the restrictions imposed by the government on crypto currencies have recently been lifted after an order from the supreme court of India.

Still, in the larger interest of the people of the country, the government is yet to introduce certain regulations to ensure its smooth and transparent functioning along with the existing financial system of the country.

On the other side, there are countries like China that has put a complete ban on crypto exchanges in the country in order to promote its own digital currency in the coming years. Even though trading in cryptocurrency isn’t illegal, the restriction makes it almost impossible for people in large to reap the benefits out of their investment.