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LOC Report Shows The Number of Countries Banning Crypto Has Doubled in Three Years
Summary: A report by the Library of Congress (LOC) details the nine jurisdictions that have now applied an absolute ban on crypto and the 42 with an implicit ban. The total number of jurisdictions with an absolute ban or severe restrictions on crypto has more than doubled over the past three years, and there are few ...
A report by the Library of Congress (LOC) details the nine jurisdictions that have now applied an absolute ban on crypto and the 42 with an implicit ban. The total number of jurisdictions with an absolute ban or severe restrictions on crypto has more than doubled over the past three years, and there are few signs that this trend is slowing down.
An absolute ban means any "transactions with or holding cryptocurrency is a criminal act", whereas an implicit ban prohibits cryptocurrency exchanges, banks, and other financial institutions from “dealing in cryptocurrencies or offering services to individuals/businesses dealing in cryptocurrencies.”
The nine new jurisdictions with an absolute ban include Egypt, Iraq, Qatar, Oman, Morocco, Algeria, Tunisia, Bangladesh, and China. China’s crypto ban received the most attention in 2021.
By Amy Liu
Tags: Crypto,LOC
Link: LOC Report Shows The Number of Countries Banning Crypto Has Doubled in Three Years [Copy]
