BITCOIN IS ILLEGAL IN 8 COUNTRIES

Cryptocurrencies are testing the financial regulation of many governments around the world. In some places in the United States and Europe, now you can even pay for a cryptocurrency coffee in the coffee shop on the corner. The following infographic elaborated by Bitcoin Play and that gathers 62 curious data about Bitcoin from its origins, recapitulates the countries in which its use is illegal.

8 COUNTRIES WHERE BITCOIN IS ILLEGAL

Kyrgyzstan: Kyrgyzstan has banned the use of all forms of cryptocurrencies as a method of payment in the country, including Bitcoin and Altcoin. However, there is no law that prohibits its inhabitants from buying, selling and using Bitcoin as merchandise.

Ecuador: The use of all digital currencies in the world has been banned as a means of payment in Ecuador, including Bitcoin. However, this country has created its own electronic money system: the Electronic Money System of Ecuador, which clearly recognizes the benefits of this type of technology.

Iceland: As part of Iceland's Currency Law, the use of Bitcoin in any transaction is prohibited. The statement says: "There is no authorization to buy foreign currency from financial institutions in Iceland or to transfer foreign currency across borders on the basis of transactions with virtual currency. For this reason alone, transactions with virtual currency are subject to restrictions in Iceland. "

Bolivia: The use of Bitcoin and other cryptocurrencies in Bolivia by the Central Bank of Bolivia is prohibited.

Vietnam: Although it is used in the black market since regulation is difficult to apply, the Vietnamese authorities consider Bitcoin illegal for both individuals and financial institutions.

Bangladesh: Cryptocurrency transactions are illegal in Bangladesh and can carry jail terms of up to 12 years.

Taiwan: The Taiwanese authorities do not accept Bitcoin as currency, and prohibit its use by individuals and banking institutions, so ATMs can not be found. Despite this, experienced users still operate in the background.

China: Banks, financial institutions and all other payment processing institutions in China are prohibited from carrying out Bitcoin transactions. However, individuals can perform Bitcoin transactions with other people.