Don't think that only one country restricts cryptocurrency trading.
Based on a study in the Global Legal Research Directorate (GLRD) of the Law Library of Congress, apparently there are 51 countries that ban crypto including China.
For the record, the study was published in 2018 and was supplemented with the latest study results.
The following are details of the study findings:
2018
8 countries have blocked cryptocurrencies outright.
15 countries enacted restrictions on cryptocurrencies along with implicit laws.
November 2021
9 countries have blocked cryptocurrencies outright.
Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar, and Tunisia.
42 countries enacted restrictions on cryptocurrencies along with implicit laws.
Tanzania, Toga, Turkey, Lebanon, Bolivia, and more.
21 countries agreed not to implement anti-money laundering laws against the crypto industry including:
Brazil, Guernsey, Jordan, Pakistan, and Kazakhstan.
Absolute restriction refers to banning the presence of the crypto industry without any line of law.
While the joint legal restriction is to prevent banks or any financial institution from offering cryptocurrency services. Crypto exchanges are also banned from operating.
China which was once the ‘home’ of cryptocurrencies actually started blocking cryptocurrencies in 2017. But starting in 2021, the country’s government will no longer compromise by completely blocking the cryptocurrency industry.
Finally, the United States (US) dominated the crypto market following the relocation of crypto miners to the country, followed by Kazakhstan in second place and Russia in third place.
