Bitcoin the world’s most expensive cryptocurrency despite it’s success and worldwide use some countries have taken the liberty to ban or classify bitcoin and other altcoins as illegal.
List of countries where bitcoin is illegal
- Algeria: As of 2017 bitcoin was legal in Algeria, but per the Huffington post , “Algeria is going to ban bitcoin in the new Finance law of 2018 (article 113 of the law)
- Morocco: In 20 November 2017 the exchange office issued a public statement in which it declared, “The Office des Changes wishes to inform the general public that the transactions via virtual currencies constitute an infringement of the exchange regulations, liable to penalties and fines provided for by [existing laws] in force.”
- Bolivia: The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone in 2014
- Ecuador: The National Assembly of Ecuador banned bitcoins including other decentralized digital/crypto currencies, due to the establishment of a new state-run electronic money system.
- Kyrgyzstan: In a July 2014, statement of the
National Bank of the Kyrgyz Republic made clear that “the use of ‘virtual currency’, bitcoins, in particular, as a means of payment in the Kyrgyz Republic will be a violation of the law of our state.
- Bangladesh: In September 2014,
Bangladesh Bank said that “anybody caught using the virtual currency could be jailed under the country’s strict anti-money laundering laws”.
- Nepal: On 13 August 2017
Nepal Rastra Bank declared bitcoin as illegal.
List of countries where bitcoin is banned