Countries where cryptocurrency is illegal

May 9, 2019 Bitcoin is essentially banned in China. All banks and other financial institutions like payment processors are prohibited from transacting or dealing  Countries where Bitcoin is banned. Bitcoin and cryptocurrencies are generally welcomed in most parts of the world. Nevertheless, some countries have actually  

The main Bitcoin countries are Botswana, Ghana, Kenya, Nigeria, South almost $48 million worth of illegal contrabands that year, and discovered that the   Aug 5, 2019 Hence, any use of Bitcoin as a currency is illegal. these exchanges restructured and moved overseas to countries such as Japan, Singapore  Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins easy and cheap because bitcoins are not tied to any country or subject to regulation. the currency of choice for people online buying drugs or other illicit activities. to explain the reasons behind the two countries' drastically different where buyers can use bitcoin to purchase illicit drugs online in the same way that cash 

Is crypto-currency illegal? Why or why not? - Quora

Mar 27, 2018 View on bitcoin: Legal tender, depending on the country. View on bitcoin: Not legal tender, according to Financial Crimes Enforcement  Jul 23, 2019 India's government banned Bitcoin, a currency providing great hope for prosperity in a country that desperately needs it. Shame on India  At present, trading in cryptocurrency is illegal in India. In July last year, the country's central bank, RBI, had imposed a banking ban on entities dealing with the  Jun 3, 2019 It's been 10 years since cryptocurrency and its underlying blockchain Today, it is illegal to host any type of token or digital asset sale within its  Nov 28, 2018 Here is a list of countries that are not friendly to crypto. Implicit bans. The use of Bitcoin and other cryptocurrencies is implicitly banned in some 

In April, the OFAC announced that it will be treating any manner of digital currency such as Bitcoin in the same way as traditional Fiat currencies. This fact made it official that anyone dealing in ‘sanctioned' money such as Venezuela's Petro, the country's state-owned cryptocurrency, an illegal act.

Currently, it says Bitcoin is illegal in only the following ten countries or regions: Afghanistan, Algeria, Bangladesh, Bolivia, Pakistan, Qatar, Republic of Macedonia,  Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and 

Sep 5, 2019 The country officially placed a ban on all forms of transactions involving bitcoin and other digital currencies on its soil, declaring them as “illegal” 

Several countries across the Middle East have banned cryptocurrency, including Saudi Arabia, Qatar, Egypt, Bahrain and Iraq. In Egypt, the Dar al-Ifta, who is the primary Islamic Legislator, went so far as to label cryptocurrency Haram , prohibiting it under Islamic law.

There are actually many countries that have different cryptocurrency regulations, some allowing holding crypto, while trading is banned. In other countries, just holding crypto and BTC can bring legal penalties. We will be featuring some of the countries in which cryptocurrency trading is prohibited:

Indonesia – as of 2018, the use of cryptocurrencies for payments became illegal. Iran – the ban focuses primarily on banks dealing with customers or funds with  Apr 18, 2018 Nevertheless, data from LocalBitcoins shows that Bitcoin being illegal hasn't stopped people from trading it in countries like Morocco and Vietnam  Dec 18, 2019 Following is the list of countries where the use of bitcoin is illegal: 1. Afghanistan. Currently, it is unlawful to possess bitcoin in Afghanistan, and it  These countries are in the process of working towards legal recognition of cryptocurrencies and introducing robust regulatory 

in a number of non-european countries the approach to cryptocurrencies is different. Argentina. virtual currencies are not legal tender under the country's  Dec 2, 2019 Despite cryptocurrency's advantage, many countries reject The negative publicity such as illegal drugs transaction, blackmail and terrorist  African countries are no strangers to the use of digital solutions for money The Bank of Zambia confirmed that cryptocurrencies “are not legal tender in. Sep 14, 2019 An executive order banning Venezuela's petro cryptocurrency, signed by by U.S. president Donald Trump last year that banned U.S. citizens, impact of cryptocurrencies on U.S. ability to sanction countries requires that the