Why is Bitcoin banned in some countries?
While Bitcoin is welcomed in many parts of the world, several countries are wary of its volatility and decentralized nature. Some also perceive it as a threat to their current monetary systems while being concerned about its use to support illicit activities like drug trafficking, money laundering, and terrorism.
Is Bitcoin illegal in UK?
While cryptocurrencies are banned in several countries such as China, they are completely legal in the UK. The UK government takes a regulatory approach to set the bar and inform people about the risks to help protect them from losses.
Who banned Bitcoin in India?
In a written reply to Lok Sabha, finance minister Nirmala Sitharaman had said that RBI is in favour of banning cryptocurrencies and that it has conveyed to the ministry that it cannot be considered as a legal tender since they are not issued by the RBI.
Which country use Bitcoin most?
Top 10 Countries With The Highest Rate Of Cryptocurrency Possession In 2022. Nowadays, 10% of the world's population owns some form of cryptocurrency. Worldwide, Thailand has the highest share of cryptocurrencies, with 20.1% of Thai internet users owning digital currencies.