Bitcoin is fully legal in at least 111 countries, and in most countries, cryptocurrencies are not regulated in any way—authorities do not prohibit the storage of digital currencies and trading.
The countries that have completely banned it are all developing countries: China, Algeria, Morocco, Egypt, Nepal, Bolivia, Tunisia, Oman, Bangladesh (aside from China, the others basically have no power; it doesn't matter whether they ban it or not).
Now Morocco will officially lift the cryptocurrency ban from 2017 and re-legalize it.
I believe that in the near future, China will also open up, but my personal suggestion is not to open up—by then, will people be willing to take on BTC priced at hundreds of thousands each?
