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.
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