• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
<>
Sensei Inu Logo

Ecuador Reportedly Bans Bitcoin and Digital Currency Usage

newsbtc by newsbtc
9 years ago
in Cryptocurrency Market News
Reading Time: 1 min read

While more and more countries are recognizing the technological achievement that is bitcoin, Ecuador is seemingly taking a step back by effectively banning bitcoin and other digital currencies in a recent legislative vote, as reported by CoinDesk.

The ban came as part of a series of amendments to the financial law in the small South American country, of which there were reportedly 91 lawmaker votes in favor.

The amendment will allow the Ecuadorian government to make payments is “electronic money”, but slashes the potential for crypto-currencies that have seemingly been taking the financial world by storm .

The country’s national assembly issued the following statement:

[blockquote style=”2″]Electronic money will stimulate the economy, it will be possible to attract more Ecuadorian citizens, especially those who do not have checking or savings accounts and credit cards alone. The electronic currency will be backed by the assets of the Central Bank of Ecuador.[/blockquote]

While Ecuador wasn’t exactly a hotspot for bitcoin activity (specifically in terms of start-ups working in crypto-currency sector), it very well had the potential to be.

Argentinian company BitPagos had plans to expand their services to the country, but it looks like they’ll have to rethink that plan.

Just last month the Bolivian Central Bank banned digital currencies, making Ecuador the second country is South America to do so. What will be interesting will be whether or not this becomes a ‘trend’ of sorts among neighboring countries.

The bill will be soon signed into law soon by President Rafael Correa.

Tags: bitcoinbanecuadorFeaturedlawNewspolicy
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin price fractal

Historical Bitcoin Fractal Pattern Hints At Crash Below $20,000

24 mins ago
XRP price

Ripple CEO’s Tattoo Predicts XRP Price Surge? Here’s When It Will Hit The Moon

7 hours ago
The Great Crypto Shuffle

The Great Crypto Shuffle: How 2017’s Top 100 Coins Fared In The Rollercoaster Market

8 hours ago
Ethereum

Ethereum ETFs Face Lackluster Debut From Small Investors: Is The Hype Fizzling Out?

12 hours ago
Shiba Inu

Shiba Inu Investors Beware: 425 Billion Tokens On The Move – Is It A Sell-Out?

13 hours ago
Dogecoin Elon Musk X Twitter IPO

Twitter IPO: Dogecoin Takes Center Stage In Elon Musk’s X IPO Rumors

14 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Analysts Evaluate Prop Firms in Forex, Topstep Ranks First

    5 mins ago
  • Traders Union Analysts Provide In-Depth ActiveTrades Review

    18 hours ago
  • Sportsbet.io Secures New Influencers for Ongoing Campaign

    18 hours ago
  • Meme Coins Won’t Make You Rich, But This Might

    20 hours ago
  • Everlodge, THORChain, and The Graph: Crypto Experts Predict...

    20 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.