Legality of Crypto
Is crypto legal in your area? Before deciding which cryptocurrencies to buy or where to buy them, I recommend learning what your local state or country has to say about crypto. Is it legal, banned, or a mix of the two?
Crypto is either legal or restricted in most countries around the world and in most states within the United States.
Crypto in the United States
To find out the current status of crypto in your state click on this Bloomberg Law website. The website provides links to all 50 states within the United States and explains each states crypto laws.
In a 2021 Google Trends report, the top ten states within the United States interested in crypto were identified. Here they are in order:
- New Jersey
Another report done by the Motley Fool identified Texas and Wyoming as ideal states to invest in cryptocurrency.
Crypto around the World
Unfortunately, there are still a few countries where crypto is illegal, so it’s important to know if one of these banned countries is where you live.
Here is a partial list of international countries around the world where crypto is accepted, restricted, or banned. Where does your country stand on bitcoin or crypto?
Legal status of bitcoin and crypto:
(brown) Legal tender
(green) Permissive (legal to use bitcoin)
(yellow) Contentious (some legal restrictions on usage of bitcoin)
(pink) Contentious (interpretation of old laws, but bitcoin is not prohibited directly)
(red) Hostile (full or partial prohibition)
(grey) No data
Is Crypto Legal in Your Area?
Countries Where Crypto is Accepted
Antigua and Barbuda, Australia, Barbados, Belgium, Bulgaria, Cayman Islands, Canada, Chile, Finland, France, Germany, Greece, Iceland, Indonesia, Italy, Ireland, Japan, Lithuania, Malta, Mauritius, Marshall Islands, Netherlands, New Zealand, Norway, Nicaragua, Norway, Philippines, Poland, Portugal, Portugal, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Ukraine, United Kingdom, United States, United Arab Emirates, Uzbekistan, Venezuela
Countries Where Crypto is Restricted
Bahrain, China, Hong Kong, Iran, Kazakhstan, Russia, Saudi Arabia, Thailand, Turkey, Vietnam
Countries Where Crypto is Banned
Algeria, Bangladesh, Bolivia, Dominican Republic, Ghana, Nepal, Nigeria, The Republic of Macedonia, Quatar, Vanuatu
Countries Where Crypto is neither legal or illegal
Albania, Afghanistan, Angola, Anguilla, Argentina, Belize, British Virgin Islands, Brunei, Cambodia, Costa Rica, Cuba, Guatemala, Haiti, Honduras, India, Jamaica, Kenya, Latvia, Lesotho, Macau, Malaysia, Mexico, Moldova, Montenegro, Pakistan, Samoa, Tajikistan, Tanzania, Zimbabwe
Countries Where Bitcoin is Legal Tender
Cryptocurrency Status Today
Here are some headlines from recent reports done by Yahoo! Finance.
- In Germany, the government fortified its crypto securities registry.
- In the U.S., Mexican restaurant Chipotle now accepts bitcoin payments.
- In Asia, fears have “renewed” among crypto investors as bitcoin price dipped “below $30,000.”
- In South Korea, the government takes a hard stance against crypto.
- The most popular cryptos in the US are Bitcoin, Ether, Dogecoin, Shiba Inu, Stellar, Litecoin, Cardano.
- The most popular crypto exchanges in the US are Coinbase, Binance.US, and Kraken.
- Countries Where Bitcoin Is Banned or Legal
- Legality of bitcoin by country or territory https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
- Regulation of Cryptocurrency Around the World