The Central Bank of Nigeria (CBN) on Tuesday, January 17, has passed a circular to inform all Nigerian banks that all transaction in bitcoin and other virtual currencies have been banned in Nigeria.
Officials of the People’s Republic of China announced in 2017 that the country will use their own digital currency. Bitcoin is thus rapidly depreciating as it is likely that the use of digital currencies such as Bitcoin will be banned in the country and that the official digital currency developed by China’s Central Bank will be used.
Exchanges around the world are reporting trading records, the Bitcoin price has reached three-year highs, and even the mainstream media is feeling Bitcoin fever. Yet, not every nation in the world is enamored with “The Internet of Money,” as the South American nation of Colombia has decided to end 2016 by banning Bitcoin usage, domestically.
The Latin American nation of Colombia has declared Bitcoin illegal. By doing so, the country has included itself into a list of handful nations that have taken such a step.
Just days after a Hong Kong tycoon was kidnapped, beaten, and held for millions of dollars in Bitcoin in ransom by criminals, the Financial Supervisory Commission (FSC) Chairman of Taiwan, Tseng Ming-chung, has made a ruling. Bitcoin is now illegal within Taiwan.
The Chairman of the Financial Supervisory Commission (FSC) has declared Bitcoin to be illegal in Taiwan, following a recent high-profile kidnapping accident involving ransom demands made in Bitcoin.
The cryptocurrency revolution has taken a most interesting turn in the small Latin-American country of Ecuador – the use of Bitcoins has been entirely banned and to fill the void the government has declared an intent to issue state-backed cryptocurrency.
Bangladesh recently banned the use of bitcoins. This action makes the country the latest in a string of nations that have taken steps to restrict or otherwise ban the use of bitcoin and other digital currencies.
The National Bank of the Kyrgyz Republic, the central bank of Kyrgyzstan, has issued new statements confirming the use of bitcoin and other digital currencies as a form of payment is currently illegal under national law.
The National Assembly of Ecuador has effectively banned bitcoin and decentralized digital currencies while establishing guidelines for the creation of a new, state-run currency.
El Banco Central de Bolivia, the central bank of the South American nation, has officially banned any currency or coins not issued or regulated by the government, including bitcoin and a list of other cryptocurrencies including namecoin, peercoin, Quark, primecoin and feathercoin.
Vietnam banned the virtual currency bitcoin, citing its ease of use for criminal purposes and its high risk for investors.
Any use of Bitcoin will be considered "potentially suspicious," as the Russian government has linked Bitcoin usage to illicit activities.
You have to feel sorry for Bitcoin users trying to keep up with their favorite cryptocurrency, as every week its fortunes seem to swing up and down. In the past 24 hours, Russia has officially banned the use of Bitcoin in a ruling that labels it a “money substitute”...
If you’re going to the Sochi Olympics in Russia, don’t bring bitcoins. Yesterday the Russian Prosecutor General’s office released a statement that clearly prohibits Russians from using the new digital currency.
Russia has just banned the controversial currency known as Bitcoin... The ruling is based on a 2002 law signed into effect by Russian President Vladimir Putin that reads, 'the official currency of the Russian Federation is the ruble. Introduction of other monetary units and money substitutes is prohibited.'
China has banned Bitcoin, leading to a drop in value of the digital currency.
China’s central bank has taken the decision to bar financial institutions from handling
Now it’s possible that China will be the one to pop the Bitcoin bubble. The country’s central bank yesterday banned financial institutions from trading in Bitcoins, or even from processing Bitcoin transactions.
China has banned its banks from using Bitcoin after warning the cryptocurrency could be used to fund terrorism.
Virtual currency bitcoin has been banned in Thailand, according to a prominent bitcoin exchange that operates in the Southeast Asian country.
Bitcoin suffered a major blow to its international reputation on Monday after Thailand became the first country to outlaw the virtual currency outright.