Despite the global rise of cryptocurrencies, ten countries continue to enforce strict regulations or outright bans due to concerns over financial stability, fraud, and economic control, according to CEOWORLD magazine.
Iraq has banned cryptocurrency transactions since 2017, with the Central Bank of Iraq citing risks such as financial crimes and volatility. Despite restrictions, informal trading persists.
China prohibits crypto trading, mining, and financial transactions involving digital assets, while advancing its state-backed digital yuan.
Egypt has highly restrictive crypto policies, with the Central Bank warning against digital assets. Some Islamic scholars also classify cryptocurrencies as haram (forbidden).
Algeria, Bangladesh, and Nepal strictly ban cryptocurrencies, citing financial security risks. Bangladesh enforces penalties, while Nepal actively cracks down on traders.
Afghanistan’s Taliban government reimposed a ban in 2022, shutting down exchanges and arresting operators.
Morocco banned cryptocurrencies in 2017 but is now considering regulatory reforms as adoption grows.
Bolivia reversed its 2014 ban in 2024, allowing regulated financial institutions to process crypto transactions.
Russia restricts domestic crypto payments but allows mining under regulatory oversight.
