It s like an online. Physical bitcoins are a bit of a novelty bitcoin often described as a cryptocurrency a virtual currency or a digital currency is a type of money that is completely virtual. Cryptocurrency exchanges are.
All banks and other financial institutions like payment processors are prohibited from transacting or dealing in bitcoin. Bitcoin is essentially banned in china. Whereas the majority of countries do not make the usage of bitcoin itself illegal its status as money or a commodity varies with differing regulatory implications.
The legal status of bitcoin and related crypto instruments varies substantially from state to state and is still undefined or changing in many of them. At a price level of round about 7000 usd that was already a total us dollar value of about 7 billion. In july 2018 believe it or not the big broker firm reached 1 000 000 bitcoin being traded on their platform on a single day for the very first time.
Bitmex is world s no1 margin trading platform for bitcoin. Bitmex forbidden for us traders. In such states banks and other financial service providers are prohibited from dealing.
In addition to the countries where btc is banned there are also countries where bitcoin is somewhat restricted and cannot be traded or used for payment. Most insist that even if passed it would have no impact. The knee jerk reaction to the possibility of a bitcoin ban is yeah just try it many believe that a ban would be unconstitutional.
The regulations in this regard would be comparable to banking restrictions as opposed to anything specifically crafted for the cryptocurrency industry. Thus although the united states can t ban bitcoin they could technically make it a lot harder to trade and acquire. It s not possible for the united states to ban bitcoin while barhydt indicated bitcoin bans could potentially happen in places like china and india he also noted that such a ban would not be.
Those who have been longtime critics of bitcoin usually have one key theory in common which is that governments will eventually ban bitcoin and cryptocurrency will then cease to exist in any.
Can bitcoin be banned in us. Bitcoin is code the us government cannot ban code. What bitcoin detractors forget is bitcoin is a free speech and can t be banned in the us thanks to the first amendment. As a matter of fact bitcoin is just a code and based on the legal precedent established in the early 90s a code is a speech.
As a matter of fact bitcoin is just a code and based on the legal precedent established in the early 90s a code is a speech. What bitcoin detractors forget is bitcoin is a free speech and can t be banned in the us thanks to the first amendment. Bitcoin is code the us government cannot ban code.
