Countries where Bitcoin is banned
Some countries have banned Bitcoin or their use. Whether bans were imposed due to Bitcoins decentralized nature, the threat to their current financial system or just because proper regulations are yet to be approved, there are some countries which decided to do so. These are:
- Afghanistan
- Pakistan
- Algeria
- Bolivia
- Bangladesh
- The Republic of Macedonia
- Saudi Arabia
- Quatar
- Vanuatu
- Vietnam
There are also countries where Bitcoin is somehow restricted and cannot be traded or used for payment. In such states, banks and other financial service providers are prohibited from dealing with cryptocurrency exchanges and companies, and in more extreme cases the countries have even banned.
- China
- India
- Ecuador
- Indonesia
- Morocco
- Zambia
- Nepal
- Egypt
- American Samoa
Note that despite the bans and restrictions, these laws have not eradicated Bitcoin or other cryptocurrency trades and their usage. Due to the nature of decentralized cryptocurrencies, it is simply impossible to ban them.
The most Bitcoin-friendly countries(btc legal):
- Japan
- Gibraltar
- Malta
- Ukraine
- Switzerland
- The Netherlands
- Lithuania
- Estonia
- The United Kingdom
- Germany
- Bermuda
- Slovenia
- Singapore
- Georgia
- Belarus
- Hong Kong
Countries where Bitcoin is neither legal nor illegal:
These “undecided” countries include:
- Albania
- Andorra
- Argentina
- Barbados
- Colombia
- French Guiana
- Gabon
- Jamaica
- Jordan
- Kazakhstan
- Kenya
- Kosovo
- Kyrgyzstan
- Malaysia
- The Maldives
- Mauritius
- Nigeria
- Panama
- Paraguay
- Peru
- Tunisia
- The United Arab Emirates
- Tanzania
- Uruguay
