Columbia does not allow bitcoin use or investment. Apart from the above list there are following also countries have declared bitcoin as illegal.
As of january 2020 the most bitcoin friendly countries where btc is legal are.
Bitcoin illegal countries list. Illegal bitcoin is illegal in china and the chinese government continues to tighten regulations against cryptocurrency on a regular basis. Bitcoin and other. The republic of macedonia.
Countries where bitcoin is illegal. However the following list contains countries that have banned bitcoin. Countries where bitcoin is used but not regulated by government india.
Bolivia columbia and ecuador. China although china has become the world s largest bitcoin trading market the country has strictly banned digital currencies on banks because 70 of the central banking authority is owned by the chinese government. Countries where bitcoin is restricted.
Algeria the country s law clearly states that the purchase sale use and storage of any type of virtual currency is illegal. The people s bank of china introduces regulation banning all chinese financial institutions from being involved in cryptocurrency transactions. Whereas the majority of countries do not make the usage of bitcoin itself illegal its status as money or a commodity varies with differing regulatory implications.
Egypt transactions made using bitcoin are both immoral from a religious standpoint and illegal according to the country s. The central bank of india has banned all the financial institutions in early 2018 that were regulated by rbi. The legal status of bitcoin and related crypto instruments varies substantially from state to state and is still undefined or changing in many of them.
Below is the list of countries where bitcoin is banned. El banco central de bolivia has banned the use of bitcoin and other cryptocurrencies.