Last week, the Sindh High Court of Pakistan hold A hearing on the legal status of digital currencies could lead to a complete ban on cryptocurrency trading combined with penalties for crypto exchanges. A few days later, the Central Bank of Russia summon on the ban on both cryptocurrency mining and trading. Both countries could join the growing ranks of countries outlawing digital assets, including China, Turkey, Iran, and several jurisdictions. is different.
According to a report by the US Library of Congress (LOC), there are currently nine jurisdictions that have adopted an absolute ban on cryptocurrencies and 42 with an implicit ban. The report’s authors highlight a worrying trend: the number of countries banning cryptocurrencies has more than doubled since 2018. Here are the countries that have banned some money-related activities electronically or a statement of intent to do so in 2021 and early 2022.
How bad is all of this?
Why are governments looking for a crypto ban?
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