The Countries That Have Banned Cryptocurrency So Far

Jun 16, 2021 3 comments

It seems like every man and his dog has jumped on the cryptocurrency bandwagon in recent months, but for many people across the globe, they are legally not allowed to participate.

Cryptocurrencies – by definition – are decentralised and unregulated by central banks, which means there are no international laws that govern how it all works.

While this has been a major reason why people have moved towards cryptocurrencies, many governments around the world have remained hesitant and even gone so far as to ban the currencies.

Where Are Cryptocurrencies Legal Tender?

As it currently stands, only one country – El Salvador – has officially moved to recognise Bitcoin as legal tender. Earlier this month, El Salvador Congress officially approved a proposal by President Nayib Bukele to allow bitcoin to be accepted as an official form of payment.

Where Are Cryptocurrencies Banned?

Thailand
China
Russia
Ecuador
Bolivia
Bangladesh
Iran

Sourced from gizmodo.com.au.

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