Countries Banning Crypto in 2025

You might be surprised by some of these worldwide crypto bans:

China

In 2017, China outlawed cryptocurrencies after officials shut down exchanges and mining operations. The government claims that financial instability and capital flight are among the threats, which is why the ban was imposed. Despite the dangers, underground cryptocurrency trading is still very popular, and the nation has created its own central bank digital currency (CBDC).

Egypt

The Central Bank of Egypt (CBE) has imposed stringent regulations on cryptocurrencies due to concerns about fraud, money laundering, and volatility, even though Egypt has not completely banned them. Peer-to-peer cryptocurrency trade persists, demonstrating the country’s inability to successfully restrict the usage of virtual currencies.

Algeria

One of the strictest prohibitions on cryptocurrencies is in Algeria, which forbids both ownership and transactions. Because of concerns about money laundering, terrorism funding, and financial security, the state has good reason to ban it. Despite enforcement efforts, illicit cryptocurrency use continues through unofficial channels.

Bangladesh

Since 2017, cryptocurrency has been prohibited in Bangladesh, and violators face fines and jail time. The Bangladesh Bank has expressed concern over market volatility and illicit activities. However, according to the 2024 Global Crypto Adoption Index, Bangladesh ranks 35th, making it one of the top nations for peer-to-peer adoption of cryptocurrencies.

Nepal

In 2017, the Nepal Rastra Bank outlawed all cryptocurrency-related operations, including Bitcoin, and Nepal banned cryptocurrencies altogether. This occurred as a result of numerous traders being detained by authorities on suspicion of fraud and financial instability. Nonetheless, some people continue to use cryptocurrency covertly.

Afghanistan

In 2022, the Taliban government in Afghanistan outlawed cryptocurrencies due to fraud and unstable finances. Before the ban on asset preservation and remittances, cryptocurrencies were widely used. The system strictly regulates cryptocurrency trade within the law, even though use is still underground.

Morocco

In 2017, Morocco outlawed cryptocurrency transactions due to the potential for instability and financial crime. Peer-to-peer cryptocurrency trading still exists, nevertheless. The country is investigating the potential for a central bank digital currency (CBDC) and is now drafting new laws to regulate digital assets.

Bolivia

In 2014, Bolivia outlawed cryptocurrencies due to concerns about illegal activity and the threat to monetary stability. In 2024, Bolivia loosened its regulations, allowing financial institutions to handle cryptocurrency transactions under strict supervision.

Iraq

In 2017, the central bank of Iraq banned cryptocurrency transactions for reasons of consumer protection and financial criminality. Off-book trading continues despite the ban’s existence on paper, and enforcement is inconsistent.

Russia

In 2022, Russia proposed a complete ban on cryptocurrencies, but ultimately chose to regulate them instead. By 2024, Russia allowed digital assets to be used for international payments and legalized cryptocurrency mining. The country is working on a regulatory framework for cross-border cryptocurrency transactions, although cryptocurrency payments are currently illegal within its borders.

Conclusion

Because of concerns about financial stability and illicit activities, crypto bans are nevertheless common in various nations. In these areas, however, underground markets and peer-to-peer trading are keeping digital currencies afloat. It’s uncertain if these prohibitions will last or if other nations will embrace cryptocurrency, given the shifting legislative landscape globally.