Countries Where Cryptocurrency is Illegal or Restricted 2022
While Bitcoin has been extensively criticized for its volatility, usage in criminal transactions, and excessive use of electricity to mine it, some people, particularly in the developing countries, perceive it as a safe haven amid economic storms. While some countries banned cryptocurrency outrightly, others restricted it. However, as more individuals turn to cryptos as an investment or a lifeline, these difficulties have manifested in a slew of new regulations on how they can be used. The legal position of Bitcoin and other altcoins (alternative currency to Bitcoin) varies significantly from nation to country, with certain relationships still being established or changing often. These are the countries where Bitcoin and other altcoins have a particularly tense relationship. Algeria Algeria has banned the usage of bitcoin since enacting a finance law in 2018 making it unlawful to buy, sell, use, or keep virtual currencies. Bolivia Since 2014, Bolivia has imposed a blanket b