Countries Impose Strict Regulations or Bans on Cryptocurrency

Several nations continue to restrict or prohibit cryptocurrency use, citing concerns over financial stability, fraud prevention, and money laundering. Here are ten countries where cryptocurrency remains restricted or prohibited in 2025.

China has maintained strict cryptocurrency restrictions since 2017, initially banning exchanges before extending prohibitions to mining and financial institutions handling crypto transactions. Despite heavy enforcement, underground crypto trading remains active, with China ranking 20th in the 2024 Chainalysis Global Crypto Adoption Index.

Egypt’s cryptocurrency regulation is highly restrictive, with the Central Bank of Egypt reinforcing warnings against crypto transactions. Key concerns include volatility, money laundering, and lack of oversight. Peer-to-peer crypto trading remains widespread, illustrating the challenges of regulating decentralized assets.

Algeria enforces a strict ban on cryptocurrency, citing threats to financial security and economic stability. The government prohibits ownership and transactions while warning against risks such as money laundering and terrorist financing.

Bangladesh follows a similarly strict anti-crypto stance, with the Bangladesh Bank banning digital assets in 2017 due to concerns over financial stability and illicit activities. Despite these measures, cryptocurrency adoption persists.

Nepal has taken an aggressive approach against cryptocurrency, declaring it illegal and citing risks to financial stability. The Nepal Rastra Bank prohibits trading and usage, arguing that crypto transactions expose the economy to fraud.

Afghanistan reintroduced a cryptocurrency ban in 2022 under Taliban rule, citing financial instability and fraud concerns. Authorities shut down exchanges in Herat and arrested multiple operators, making crypto-related activities highly risky.

Morocco has officially banned cryptocurrency transactions since 2017, citing concerns over financial crimes and economic stability. However, despite this restriction, the country has seen significant underground adoption.

Bolivia’s central bank prohibited cryptocurrency usage in 2014, citing risks related to monetary stability and financial crimes. However, in June 2024, authorities reversed this stance, allowing regulated financial institutions to process crypto transactions through approved electronic channels.

Iraq’s central bank issued a cryptocurrency ban in 2017, citing risks such as financial crime, volatility, and consumer protection concerns. Banks, financial institutions, and payment service providers remain prohibited from handling digital assets.

Russia’s Central Bank of Russia proposed a complete ban on cryptocurrency transactions and mining in 2022, but the government opted for regulation instead. While crypto mining has since been legalized, restrictions remain on domestic crypto payments.

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