Can A Country Actually Ban Bitcoin ?
This question comes up quite a bit by those new or interested in Bitcoin – sure , a nation can ban Bitcoin but as far as enforcing a ban – not so much . The thing is , my belief is that within a short time span , nations will be forced to either accept and embrace Bitcoin or fade into obscurity .
Can a country actually ban Bitcoin?
” Currently, just a handful of countries place an outright blanket ban on Bitcoin—and prohibit interacting with, owning, or using the cryptocurrency in any shape or form. These countries include Algeria, Ecuador, Egypt, Nepal, and Pakistan.
Several others, including Saudi Arabia and Taiwan have also introduced a partial ban on the cryptocurrency, typically blocking financial institutions from dealing in the cryptocurrency or facilitating Bitcoin transactions.
So far, the vast majority of countries that have either restricted the use of Bitcoin, or banned it entirely, are relatively low down on The Economist’s Democracy Index, and many are considered flawed democracies or worse. ”