COUNTRIES WHERE BITCOIN IS COMPLETELY BANNED!!!!!!

Today I am going to tell you through this blog that in which countries Bitcoin is completely banned.
There are some countries in the world where using bitcoin is a punishable offense and doing so you might get into a legal trouble. So let's see which countries have bitcoin totally either in the form of payment, trading or holding virtual currencies.

1. ALGERIA
   As of 2017 bitcoin was legal in Algeria.
   But According to the recent Huffington Post, "Algeria is going to ban bitcoin in the new Finance law of 2018"
   According to this law(Art. 117) - The purchase, sale, use, and holding of so-called virtual currency is prohibited. Virtual currency is that used by internet users via the web. It is characterized by the absence of physical support such as coins, notes, payments by cheque or credit card. Any breach of this provision is punishable in accordance with the laws and regulations in force.

2. BOLIVIA
   In 2014 the Central Bank of Bolivia officially banned bitcoin and any other currency or alt coins not regulated by a country or economic zone.
   Official Statement - "It is illegal to use any kind of currency that is not issued and controlled by a government or an authorized entity."

3. BANGLADESH
   In September 2014, the Bangladesh Bank issued a statement regarding the use of Bitcoin and warning that it is punishable by law. Bank officials said that anyone found guilty of dealing with Bitcoin or any other cryptocurrency could be jailed for up to 12 years under current anti-money laundering laws.
   Official Statement - "Bitcoin is not a legal tender any transaction through bitcoin or any other cryptocurrency is a punishable offense."

4. NEPAL
   Nepal Rashtra Bank declared bitcoin as illegal on 13 August 2017

5. ECUADOR
   The Ecuadorian government has issued a ban on bitcoin and other digital currencies. It not only banned Bitcoin and all other cryptocurrencies, but it did so while establishing guidelines for the creation of their own virtual currency.
   The National Assembly of Ecuador passed a bill that amends the country’s monetary laws in July 2014, banning cryptocurrencies and allowing the government to issue and transact in its asset-backed “electronic money.”

6. COMBODIA
   The National Bank of Cambodia, the Securities and Exchange Commission of Cambodia and the General-Commissariat of National Police declared that "the propagation, circulation, buying, selling, trading and settlement of cryptocurrencies without obtaining license from competent authorities are illegal activities" and "shall be penalized in accordance with applicable laws."
   Information Source
   Second Source

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