Countries that have banned cryptocurrencies

Without a doubt, in the midst of a cryptocurrency revolution. Many countries throughout the world are beginning to comprehend the worth that cryptocurrencies offer to their economies and have set laws to control it. There are still few countries that consider cryptocurrencies and Bitcoin as a danger to their economy.

Here’s a list of the countries that have banned the use of cryptocurrencies.

Iran:

Iran’s President Hassan Rouhana recently declared an almost 4th-month ban on the trading of cryptocurrencies like Bitcoin, as the Islamic country grapples with far-reaching blackouts in many cities. The country believes that by prohibiting crypto trading.

Bolivia:

Bolivia has emphasized its resistance to permitting the utilization of cryptocurrencies in the country, referring to recent crimes by some residents. The usage of virtual coins is illegal after denouncing a disguised pyramid scheme based on a supposed investment in cryptocurrencies.

India:

India cautioned its residents about how perilous cryptocurrency can be and has encouraged the population to not utilize it.

Denmark:

Its utilization has not been restricted it can be used but the government rejects it and has said that it won’t control the utilization of bitcoins.

North Macedonia:

North Macedonia is by all accounts the only European country that criminals the use of cryptocurrencies like Bitcoin and Ethereum. Cryptocurrency investing is illegal, and public banks have advised that crypto trades are illegal. The Central Bank also reminded its residents that trading in cryptocurrencies is dangerous.