Countries Where Cryptocurrency Is Legal and Illegal

Interest in cryptocurrency has exploded in the past few years. The Pew Research Center estimates 9 in 10 Americans have heard about crypto. From Matt Damon’s infamous Super Bowl ad to President Joe Biden’s March executive order asking the government to look into the risks posed by digital currencies, crypto is a hotter topic now than ever before.

We have spent dozens of hours compiling the most relevant and useful information regarding cryptocurrency and its legal status across the globe. The viability, legality and even practicality of cryptocurrencies continue to be fiercely debated. As an increasing number of countries become more receptive to crypto, albeit to varying degrees, a deeper understanding of the legal status of crypto where you live will help you make the right decisions when considering if this asset is right for you. Before we take a look at the legal status of crypto across the world, let’s start with its beginnings.

A brief history of cryptocurrency

In order to better understand where we’re going, we need to know where we’ve been. The following timeline will give you some context and show you how cryptocurrency (or at least the concept of digital money) has been around longer than some of us have been alive.

  • The concept of electronic money goes all the way back to 1983, when it was proposed by computer scientist David Chaum.
  • In 1989 Chaum attempted to make his vision a reality by founding DigiCash, the first company to use cryptographic protocols, such as public and private keys, to complete transactions electronically. DigiCash was never able to grow its user base and in 1998 declared bankruptcy, being sold for assets in 2002.
  • In use since 2009, bitcoin is the oldest decentralized cryptocurrency, setting the standard for crypto as we know it.
  • In August 2014,
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