Cryptocurrency is legalized or permitted in a number of countries that regulate its use under existing laws. Here is a list of such countries:
1. USA
Use and trading of cryptocurrency are allowed.
Regulated by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
2. Canada
Legal as investments and means of payment.
Companies are required to register and comply with anti-money laundering laws.
3. Japan
The first country to recognize bitcoin as legal tender in 2017.
All crypto exchanges must be licensed.
4. Germany
Recognizes cryptocurrency as private money.
Use for commercial purposes is subject to capital gains tax.
5. Switzerland
One of the most crypto-friendly countries.
Regulation is friendly, especially in the canton of Zug, known as 'Crypto Valley'.
6. Singapore
Legally allowed to use cryptocurrency for trading and investing.
Regulated by the Monetary Authority of Singapore (MAS).
7. Australia
Recognizes cryptocurrency as property for tax purposes.
Regulated by the Australian Securities and Investments Commission (ASIC).
8. United Kingdom
Trading and ownership are permitted.
Regulated by the Financial Conduct Authority (FCA).
9. Estonia
Legal and widely used in business.
The country is known for its digital government.
10. Malta
Known as the 'Blockchain Island'.
A comprehensive legal framework has been developed for cryptocurrency companies.
11. UAE (Dubai)
A friendly jurisdiction for crypto investors.
A special legal framework has been introduced in the DIFC zone.
12. Turkey
13. Georgia
These countries provide a legal framework that fosters the development of cryptocurrency technologies and attracts investments.
There are also several other countries developing legal frameworks and draft laws for the adoption of cryptocurrency.