Here is a list of countries that have banned Cryptocurrency

The cryptocurrency revolution is real and will take over the world soon! However, in spite of being in large demand and each day more and more, people event in it tend to fancy the idea of investing in cryptocurrency over a period of time; there are places that have banned cryptocurrency.

Here is a list of countries that have completely banned Cryptocurrency:

1. Egypt
2. Nepal
3. Algeria
4. Bolivia
5. Morocco

We have an additional list of countries that allow cryptocurrencies but have some kind of ban over their usage:

1. In Vietnam, it is legal to trade and hold Cryptocurrencies but won’t be permitted as a legal tool to manage payments or transactions.
2. In Cambodia, it is legal but however, they have a banking ban.
3. Similar to Vietnam, in Indonesia, it is legal to trade and hold them but is considered an illegal payment and transaction tool.
4. In Taiwan and China, cryptocurrencies are legal but have a banking ban on them.
5. In Bangladesh, virtual currency is legal but an individual can’t use it for payment purposes or any kind of transactions.
6. Iran, Saudi Arabia, Jordan are the three West- Asian Countries that have a banking ban on virtual currencies.
7. Russia too has a banking ban on them. However, it considered a Monetary substitute.
8. Canada has a banking ban on currency.
9. Colombia and Ecuador have similar banking bans on these currencies.
10. Bank Transaction in cryptocurrencies is banned in Nigeria.