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Greater than fifty international locations have positioned bans on cryptocurrency, based on a report from the Regulation Library of Congress. The November report served as an replace to analysis that was revealed in 2018.
Since 2018, “the variety of international locations discovered to have issued cryptocurrency bans has elevated considerably,” the report mentioned. As of November 2021, 9 international locations have positioned an “absolute ban” on crypto, that means that it’s fully unlawful. Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia have all joined China in outlawing crypto.
China first made the choice to ban crypto buying and selling in 2017. The nation prolonged its ban to dam crypto mining earlier this yr.
42 extra international locations have issued “implicit bans” prohibiting banks, lenders and different monetary establishments from coping with crypto. These international locations embody Georgia, Turkey and Saudi Arabia.
The report additionally discovered that the variety of international locations subjecting crypto to tax legal guidelines, in addition to anti-money laundering and counter-financing of terrorism legal guidelines, has jumped from 33 in 2018 to now 103. Apart from Bulgaria, the entire member states of the European Union presently have these rules in place.
21 international locations, nevertheless, don’t apply any type of anti-money laundering or counter-terrorism financing legislation to their crypto industries, together with Brazil, Jordan, Pakistan and Kazakhstan.
In different tech information, a Sony employee allegedly stole $154 Million USD from the company and converted it to Bitcoin.
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