Crypto “Absolute Ban” in 9 Countries

As cryptocurrency continues to gain traction, a report from The Global Legal Research Directorate (GLRD) of the Law Library of Congress said that more than 5o countries have placed bans.

Since 2018, bans were placed by different countries. “the number of countries found to have issued cryptocurrency bans has increased significantly,” the report said. As of November 2021, an “absolute ban” was placed in countries like Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar, and Tunisia.

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In the report, the legal status of cryptocurrencies was discussed as some countries either have explicitly or implicitly banned them. It also showed a regulatory framework for anti-money laundering and counter-financing of terrorism laws.