A total of 51 countries around the world have placed a ban on the crypto industry, according to a report published by the Global Legal Research Directorate (GLRD) of the Law Library of Congress.
The report was originally published in 2018 but has since been updated with new findings.
“While the 2018 report identified 8 jurisdictions with an absolute ban and 15 jurisdictions with an implicit ban, the November 2021 update identifies 9 jurisdictions with an absolute ban and 42 with an implicit ban,” the report said.
Absolute bans refer to those that make cryptocurrencies illegal.
Implicit bans refer to those which prohibit banks or other financial institutions from dealing in cryptocurrencies or offering services to people or businesses that involve crypto. They also refer to placing bans on cryptocurrency exchanges from operating in the jurisdiction.
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