Countries in which Bitcoin is banned or legal?

Countries in which Bitcoin is banned (as of July 2018) one way or another: India, Algeria, Bolivia, Ecuador, Bangladesh, Nepal, Cambodia, Indonesia, Pakistan, China, Iceland;

Countries in which Bitcoin is legal: the US, Canada, Australia, Mexico, Nicaragua, Costa Rica, Kyrgyzstan, Cyprus, UAE, Israel, Japan, Switzerland, Malta;

Countries in which Bitcoin is not regulated: all the rest.

No country or Central Bank can ban something which is already decentralised. India's finance minister in his budget speech of 2018 had stated that Bitcoin is not a legal tender which means Bitcoin cannot be used like a fiat currency but buying and selling Bitcoin is still prevalent in many countries including those where it has been allegedly banned.

It is a common misconception that bitcoin and digital currency are totally banned and illegal in China, but China has become the world's largest bitcoin trading market. The bitcoin ban is strictly on banks, as the central banking authority, The People's Bank of China is owned 70% by the Chinese government.

Top Countries in Which Bitcoin is Banned:

  1. Bolivia
  2. China
  3. Ecuador
  4. Iceland
  5. India
  6. Russia
  7. Sweden
  8. Thailand
  9. Vietnam