Overview of cryptocurrency regulations by continent (2021)

The Americas

Europe

A glimpse of Zug, Switzerland. Image by Vinny Kapoor from Pixabay

Africa

View of Akon City. Source official webpage

Asia and the Middle East

Oceania

Key takeaways about cryptocurrency regulations

  • Cryptocurrency is currently banned in 13 countries. These are Bolivia, Algeria, Egypt, Morocco, Burundi, Namibia, Libya, Nigeria, Nepal, Qatar, Laos, Iraq, and Bangladesh. India is still discussing a ban proposal, and Palau is on stand-by for now.
  • The friendlier continent for cryptocurrencies is probably Europe, followed by the Americas. Africa and Asia are usually hostile against them (not all the countries, though).
  • The most common rules for using cryptocurrencies in regulated environments are identifying the crypto-users that transact against local money and declaring the respective taxes.
  • Most of the countries worldwide still fall into the gray zone regarding cryptocurrencies. This means that they’re not legal but not illegal either.

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Alfacash is an 9-year-old trusted cryptocurrency exchange. We offer crypto-fíat and non-custodial transactions, and valuable knowledge in our blog.

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