Global nations watch crypto closely. As cryptocurrencies gain popularity, global adoption rises. Some countries support adoption, but others ban it. Multiple countries have studied the technology and praised its decentralized nature and blockchain technology.
Some countries have scrutinized cryptocurrencies for their illegal use. The adoption of crypto, its use, and blockchain technology has been steady. Let’s see which countries allow and ban crypto.
Where is Crypto legal?
A few nations have yet to state their positions on cryptocurrency regulation and have not yet allowed cryptocurrency trading. El Salvador and Dubai have made their views on the cryptocurrency trade clear.
- Russia once favored cryptocurrency. The country has drafted a law banning crypt and NFT trades.
- U.S. US law allows crypto and NFT trading. US authorities still scrutinize crypto firms to prevent illegal financial activity. The country is drafting a crypto framework.
- India is against cryptocurrencies. Blockchain technology is welcomed. Instead of banning cryptocurrency, the country imposed a 30% tax on it. The country isn’t ready to legalize crypto, but it hasn’t banned it either.
Where is Cryptocurrency banned?
Different countries view cryptocurrency differently. Since there’s no global framework, each country decides the fate of cryptocurrencies. Some countries have legalised it or are discussing its benefits, but others have banned it.
- North Macedonia
With the soaring adoption of cryptocurrencies, different countries might join the bandwagon to either make them legal or ban them completely.