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Governments with Crypto Bans

For refernece and information only. Please Do Your Own Research (DYOR), policies change all the time and this information may not provide the full picture. 

No Pro Crypto 

Decentralized cryptocurrencies like Bitcoin are legal in over 80% of major economies, with countries like the U.S., UK, and EU regulating them to foster innovation. Only 15 countries impose explicit bans, often targeting trading or payments, but personal ownership is frequently tolerated, and global adoption thrives. Governments are embracing digital currencies through Central Bank Digital Currencies (CBDCs), with 134 countries, including China and the EU, exploring or launching state-backed alternatives to complement fiat money. The “crypto is illegal” narrative ignores blockchain’s transparency and mainstream integration, with illicit activity under 1% of transactions (Chainalysis 2023).

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Factual Information:

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  • Countries with Explicit Bans on Decentralized Cryptocurrencies:​

    • Algeria: Prohibits buying, selling, using, or holding cryptocurrencies since 2018, citing financial crime risks.

    • Angola: Banned crypto mining and related activities in April 2024, with penalties of 1-12 years in prison.

    • Bangladesh: Bans crypto trading under the Money Laundering Prevention Act, with penalties up to 12 years.

    • Bolivia: Bans cryptocurrencies since 2014 to promote state currency but is researching a CBDC for financial control.

    • China: Bans decentralized crypto mining (e.g., Bitcoin) and trading since 2021, citing environmental and financial concerns. Ownership is not explicitly illegal; Pi Network’s mobile mining is in a gray area, with trading risks post-2025 mainnet. Piloting the e-CNY, with 7 trillion yuan in transactions by 2024.

    • Ecuador: Bans Bitcoin and decentralized cryptocurrencies since 2014, favoring state currency.

    • Egypt: Prohibits crypto transactions under Islamic law and financial regulations.

    • Iraq: Bans cryptocurrencies, prohibiting trading and use.

    • Kuwait: Strict ban since 2023, prohibiting all virtual asset services and payments.

    • Morocco: Bans crypto transactions since 2017 but researching a CBDC.

    • Nepal: Declared cryptocurrencies illegal since 2017, banning use, mining, and trading.

    • North Macedonia: Explicit ban on cryptocurrencies, prohibiting trading and use.

    • Qatar: Bans crypto trading and payments, but 2024 Digital Asset Regulations allow tokenized assets (excluding crypto) in the Qatar Financial Centre.

    • Tunisia: Bans crypto transactions but researching a CBDC for financial control.

    • Vietnam: Bans crypto as legal tender or payment (Decree 52/2024), with fines up to $3,800. Ownership and trading are in a gray area; 2018 equipment import ban targets Bitcoin rigs, but Pi Network’s mobile mining is not illegal, though scrutinized for MLM risks (March 2025). Developing a 2025 regulatory framework; high adoption (third globally, Chainalysis 2023).

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  • Mining Nuances: Traditional mining (e.g., Bitcoin’s PoW) is banned in China and restricted in Vietnam via equipment imports, but mobile-based models like Pi Network face less scrutiny, operating in gray areas with regulatory risks.​​

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  • Evolving Policies: Bans are softening. India lifted its 2018 ban in 2020; Qatar’s 2024 framework regulates tokenized assets. Hong Kong’s crypto hub and Vietnam’s 2025 framework may shift policies.

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Decentralized crypto and Web3 are legal and thriving in most countries, with 2025 marking peak regulatory clarity. Progressive jurisdictions like the U.S., with its Bitcoin Reserve, and the UK drive innovation, while CBDCs (e.g., China’s e-CNY, EU’s Digital Euro) show governments embracing digital finance. Even restrictive nations like China and Vietnam highlight crypto’s resilience through ownership and adoption (e.g., Vietnam’s Pi popularity). Mobile mining like Pi Network enhances accessibility, though users in banned jurisdictions should exercise caution. Use regulated platforms, comply with local laws, and monitor policy shifts to engage safely. Crypto’s transparent, decentralized future is unstoppable, complemented by state-backed CBDCs.

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Transparency Note: Regulations evolve rapidly. The U.S.’s reserve strategies, China’s rumored Bitcoin reserve, Vietnam’s 2025 draft decree, and the EU’s Digital Euro pilot show shifting landscapes. Check trackers like the Atlantic Council’s Cryptocurrency Regulation Tracker and CBDC Tracker for the latest status.

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