The future of cryptocurrencies and their popularity in the world. Start making money on this instrument!

7.12.2017, 11:00 AM

All visitors to our website have already clearly figured out that the crypto currency market is becoming more popular every day and the future of the crypto currency is promising. Today I will tell you how much it is popular.

To your attention are provided countries in which the crypto currency is prohibited, while the main reason for the ban is the lack of control over operations in the crypto currency.


In Bangladesh, the ban on the use of crypto currency was introduced as early as 2014. Operations in the crypto currency are considered by the government as a means of money laundering. The law on the prohibition of the use of crypto currency by residents of the country implies a penalty of imprisonment for a period of 12 years. It is worth noting that the ban was made on the basis of the law on finance, adopted in 1947, which is clearly already out of date.


As well as in Bangladesh, in Bolivia the law that prohibits any operations with bitcoin was also adopted in 2014. The prohibition was made due to the lack of control over operations in the crypto currency. More recently, the Government of Bolivia once again recalled the existing ban and stated that the use of crypto currency is a threat to the national economy.


Just like in the previous two countries, operations in Bitcoin were banned in Ecuador in 2014, but there was no total refusal to use any crypto currency. The government of Ecuador decided to create its own crypto currency, which is under the full control of the government.

The use of any crypto currency, other than national, is prohibited. It is worth noting that bitcoin is still used in Ecuador, despite the ban. Another interesting fact is that in Ecuador, the US dollar is an official way of payment and the national currency is tied to the dollar.


In 2014, the National Bank of Kyrgyzstan issued a decree according to which bitcoin or another analog of the crypto currency can not be used as a means of payment, since the only legal tender is the Kyrgyz som. As noted, any use of crypto currency is illegal, but over time, the government has tempered its aggression against the crypto currency and in the future it is planned to create its national counterpart.


As in all the countries listed above, the ban on work with bitcoin was introduced in 2014, but it concerned only institutional organizations. In turn, Vietnamese citizens can conduct operations in the crypto currency without any restrictions. It should also be noted that this month in the country’s legislation should be made all the necessary changes to lift any restrictions on the use of any crypto currency in Vietnam.

Denying the successful future of the crypto-currency, these countries just close their eyes to its popularity.

Only in five countries there are certain restrictions on the use of crypto currency and it does not mean that it is used in the rest of the world. This is due to a number of other factors that do not concern any restrictions with respect to crypto currency. The popularity of crypto currency is growing every day, and its wider use in the world economy is just a matter of time. The future of crypto currency has already come!

Look for more articles on the topic Crypto-currency in the section of Trader’s Blog.

Alexander Sivtsov