๐ข๐ขBITCOIN IS ILLEGAL, IN THESE COUNTRIES:๐ฐ๐ฐ๐ฐโผ๏ธ
Bitcoin's legality is a contentious issue globally due to concerns over its decentralized nature and potential for misuse in illegal activities.
๐ฉ๐ฟ Algeria: Bans all aspects of Bitcoin since 2018 due to concerns over volatility and potential for misuse.
๐ง๐ด Bolivia: Completely banned Bitcoin since 2014,
citing the need for control over currencies.
๐จ๐ด Colombia: Prohibits financial institutions from dealing with Bitcoin since 2014.
๐ช๐ฌ Egypt: Declared Bitcoin transactions "haram" in 2018, tightening banking laws to curb cryptocurrency usage.
๐ฎ๐ท Iran: Utilizes Bitcoin mining to bypass economic sanctions, despite restrictions on foreign-mined cryptocurrencies.
๐ฎ๐ณ India: Plans to introduce a bill banning most cryptocurrencies while proposing a government-backed digital currency.
๐ฎ๐ถ Iraq: Strongly opposes cryptocurrency usage, with the Central Bank prohibiting their use since 2017.
๐ฝ๐ฐ Kosovo: Banned cryptocurrency mining to address energy crisis in early 2022.
๐ณ๐ต Nepal: Illegalizes Bitcoin since 2017, according to Nepal Rastra Bank.
๐ฒ๐ฐ North Macedonia: The only European country with a law against cryptocurrencies.
๐น๐ท Turkey: Witnessed a surge in cryptocurrency adoption amid economic instability, leading to swift regulations.
๐ป๐ณ Vietnam: Prohibits issuance, sale, and use of Bitcoin, punishable by fines.
๐ฐ๐ช In Kenya, cryptocurrency is legal with no specific laws or regulations prohibiting its use or possession. However, it is not recognized as legal tender or an asset.
These countries have implemented various measures to curb Bitcoin usage, reflecting the ongoing debate surrounding its legality and potential implications for financial systems worldwide.
