9 Countries Where Cryptocurrencies Are Illegal


China is the largest nation to prohibit all cryptocurrency activity within its borders. In 2017, it began by prohibiting domestic crypto-exchanges, and in September 2021, it implemented a total ban on all crypto-related activities. 


In September 2021, Nepal made the use, mining, and trade of cryptocurrency illegal, according to Nepal Rastra Bank, the country's central bank.


Bangladesh prohibited all cryptocurrency activities in 2017, much earlier than China and Nepal.


In September 2021, the Taliban regime took over Afghanistan and immediately implemented a ban on cryptocurrency.


Qatar has forbidden the use of Bitcoin and other cryptocurrencies in the Qatar Financial Center due to inadequate compliance with know your customer (KYC) and anti money laundering (AML) regulations.


The Moroccan government has prohibited cryptocurrency trading. In 2017, the country's market regulators acknowledged digital assets, and they subsequently issued a nationwide ban on trading and holding cryptocurrencies.


The Algerian government has made it illegal to buy, sell, use, or possess any form of cryptocurrency since 2018, when a financial law was passed that prohibited the use of digital currency.


In 2020, Egypt became the last North African nation to prohibit any type of cryptocurrency activity. The central bank highlighted the fact that crypto does not have a tangible asset backing its value and only officially recognized national currencies are allowed to be traded in the country.


In 2014, Bolivian lawmakers passed a law prohibiting the use of cryptocurrencies in the country due to concern about the potential impact on their population and economy.