5 countries with restrictions on cryptocurrencies

Cryptocurrencies have been controversial since Bitcoin was created in 2009. While widely criticised for its volatility, use in nefarious transactions, these digital currencies are seen by some, particularly in the developing world, as a safe harbour during economic storms.

But as more people turn to cryptos as either an investment or a lifeline, these issues have manifested in an array of restrictions on their usage.

The legal status of cryptos varies substantially from country to country, while in some, the relationship remains to be properly defined or is constantly changing.

In September, El Salvador became the first country to make bitcoin legal tender. To promote the cryptocurrency’s use, the El Salvadorian government has given $30 in free bitcoins to citizens who sign up for its national digital wallet. But some other nations are not towing that line any time soon.

Here are five countries that have slammed down cryptocurrencies with an embargo, with thorough research made by online casino au for this.


Since the advent of these digital currencies, China has been brutal with its restrictions. The Xi Jinping-led CCP has cracked down on these digital tokens heavily, with the crackdown getting intense every year. To deal with the crypto giants like Bitcoin, China even introduced their own centrally-regulated digital currency called Digital Renminbi (RMB).


The government of this South American nation has put a complete ban on any currency that does not undergo the regulatory radar of Bolivia’s economic system. The Bolivian government took the decision citing possibilities of various ponzi schemes and criminal activities, yet online casino works just fine in the country even without the use of crypto.


The Central Bank of Indonesia devised a new set of rules and regulations surrounding the promotion and trade of cryptocurrencies and put a complete ban on the digital tokens starting from January 1, 2018.


Turkey was one of the countries that witnessed the maximum number of transactions before the central bank in the country imposed a new set of guidelines making it illegal to use cryptocurrencies, directly or indirectly, for any goods or services. The guidelines also included anti-money laundering and terrorism financing clauses.


Adhering to Egypt’s primary Islamic advisory body, Dar al-lfta, the country considers any cryptocurrency transaction as ‘haram’ under the Sharia Law, strictly prohibiting it under Islamic law.