Ecuador Becomes First To Outright Ban Bitcoin – Coin Fire
Ecuador Becomes First To Outright Ban BitcoinPresident Rafael Correa of Ecuador will have a new bill to sign in to law this week that bans Bitcoin and other cryptocurrencies and electronic money as the country works to create a new Central Bank backed cryptocurrency backed by theВ Banco Central del Ecuador. With 91 votes in favor and 21 against the vote was swift and now that the bill has been approved the National Assembly will send it onward to the President who is fully expected to sign the bill without delay. Just days ago the ‘Bitcoin Comunidad Ecuador‘ sent a letter stating that it did not support the ban but if the government was going to create a cryptocurrency that it must strive to be open with it and transparent. This is the first time a nation has outright banned Bitcoin and other cryptocurrencies making it illegal to perform business in them, exchange them or run businesses built upon them. At the time of this news the current Winkdex price was $602. 96 (-2. 39%). My name is Brendon and I’ve only been involved in the world of Bitcoin for a short while but I’m learning and I am so excited to learn with you. If you like what I am doing send me over a tip: 18YBkKJsuBwx3ru8AaSSc97jEtxGUKURxNBrendon – who has written 31 posts on Coin Fire.
