- CoinGecko research indicated that cryptocurrency is legalized in more than half of the world’s countries.
- Europe is in the lead, with 39 out of 41 countries legalizing cryptocurrency within their borders.
- Only 62 out of the 119 countries where cryptocurrency is legal have clear regulations in place
The world’s largest independent cryptocurrency data aggregator, CoinGecko, embarked on a massive research project to establish where cryptocurrency is legal versus illegal. CoinGecko’s findings suggested that cryptocurrency is currently legal in 119 countries, meaning that more than half of the world’s nations have embraced the technology.
Cryptocurrency legality around the world (Source: CoinGecko)
It is worth noting that 64.7% of the countries that have decided to legalize cryptocurrency are emerging and developing countries located in Africa and Asia. However, out of the 119 countries that have legalized these digital assets, 16.8% have imposed bank bans, restricting banks from interacting with cryptocurrency users and exchanges.
Meanwhile, Europe emerged as the leader in cryptocurrency legalization, with 39 out of the 41 countries acknowledging its…
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