According to the U.S. Library of Congress, as of November 2021, a total of nine countries have banned cryptocurrency completely. These countries are Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia.
Which country banned cryptocurrency first?
There is a complete ban in place on the usage of Bitcoin in Bolivia since 2014. The Bolivian Central Bank issued a resolution banning it and any other currency not regulated by a country or economic zone.
Is crypto banned in India?
Cryptocurrencies are unregulated in India but in Budget 2022, the government announced a flat 30 per cent tax on gains from cryptocurrency transactions as well as a tax deducted source (TDS) of 1 per cent.
Is cryptocurrency banned in USA?
Key Takeaways. As of June 2021, bitcoin was legal in the U.S., Japan, the U.K., and most other developed countries. In general, it is necessary to look at bitcoin laws in specific countries. In the U.S., the IRS has taken an increasing interest in bitcoin and has issued guidelines for taxpayers.