Cryptocurrency bans have been implemented in 51 countries and regions around the world From Global Legal Research Bureau of the library of congressional law
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According to a report of the Global Legal Research Bureau of the law library of Congress, so far, 51 countries and regions around the world have banned cryptocurrency. The report was originally released in 2018, but the data were updated in November this year.
“Although the 2018 report identified only 8 jurisdictions with absolute injunctions and 15 jurisdictions with implicit injunctions, the November 2021 update identified 9 jurisdictions with absolute injunctions and 42 jurisdictions with implicit injunctions,” the report said
Absolute prohibitions are those that make cryptocurrency illegal. The countries and regions that have announced the absolute ban include Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia.
Implicit prohibitions refer to those that prohibit banks or other financial institutions from trading cryptocurrency or providing services to people or enterprises involved in cryptocurrency, and prohibit cryptocurrency exchanges from operating in their jurisdictions.
At present, countries and regions that have announced hidden prohibitions include Tanzania, toga, Turkey, Lebanon and Bolivia.
It is shocking that 21 countries and regions have been confirmed not to apply anti money laundering or anti terrorist financing laws and regulations to the cryptocurrency industry. These countries and regions include Brazil, Guernsey, Jordan, Pakistan and Kazakhstan.
More reading: coinmarketcap: the average daily trading volume of major cryptocurrency exchanges in South Korea exceeds that of the stock market ciphertrace: in the first nine months of 2019, the global cryptocurrency crime loss reached US $4.4 billion. Chain: in 2021, the global cryptocurrency fraud caused a loss of US $7.7 billion, a surge of 81%. Coingecko: the total market value of cryptocurrency exceeded US $3 trillion JPMorgan Chase: 80% of institutional investors will never invest in cryptocurrency pitchbook: in 2021, venture capital funds invested US $17 billion in cryptocurrency companies FTC: since October 2020, Americans have lost more than US $80 million due to cryptocurrency investment scams, an increase of 1000% year-on-year Almost nothing JPMorgan Chase: 22% of institutional investors believe that the company will buy cryptocurrency in the future. The block research: in February 2021, the transaction volume of cryptocurrency exceeded US $1 trillion, setting a new record. Chainalysis: the proportion of criminal activities in cryptocurrency transactions decreased sharply in 2020. Chainalysis: 2020 cryptocrime report coinmarketcap: the market value of global cryptocurrency lost US $21.5 billion a day Yuan chainalysis: cryptocurrency hackers lost more than $283 million in 2019
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