I think it is interesting to look at the type of countries that have taken different approaches to cryptocurrency. Which in most cases seems to match up with the type of government that is in place in the respective countries.  More authoritative and communistic countries have looked to keep it out, while more open and democratic countries have let it occur more naturally.  I don't think this is the case because governments in countries like the US are on board with crypto, but, they seem to see the inevitability of it, and therefore want their piece. And by "piece" I mean taxes.

Whether a country is open to crypto, or not, in their own ways both types are looking to control it.

Which Countries Have Banned Bitcoin Users?

• Bolivia: The country’s central bank has banned the use of cryptocurrencies, including Bitcoin.
• China: China has banned cryptocurrency exchanges and also prohibits banks and financial institutions from trading or dealing in Bitcoin.
• Columbia: This country does not allow Bitcoin investments or use.
• Ecuador: The National Assembly of Ecuador in 2014 banned Bitcoin and other cryptocurrencies but established guidelines for its own “electronic money.”
• Russia: Although there is no current law against cryptocurrency, the Russian government has warned that “virtual currencies” could be used for terrorist financing and money laundering.
• Vietnam: This country’s government and state bank do not regulate Bitcoin as an investment, but they also do not accept Bitcoin as a legitimate payment method.

Which Countries Have Made Bitcoin Legal Tender?

• El Salvador is the first and only country in the world to recognize Bitcoin as a legal tender as of June 2021. However, other countries welcome payment in Bitcoin under certain conditions.
• The United States considers Bitcoin a “money services business”, subject to registration and record-keeping under the Bank Secrecy Act. The IRS also classifies it as property for taxation purposes.
• Canada similarly views Bitcoin as money services, not currency. Any Bitcoin transaction falls under “barter transactions,” and any income generated is considered business income.
• Australia has ruled that Bitcoin is an asset for purposes of capital gains tax. It does not consider Bitcoin currency.
• The European Union considers buying and selling digital currencies a “supply of services” that is exempt from value-added tax. However, individual nations, such as the United Kingdom, have specific Bitcoin tax regulations.