Country rankings
Countries That Use Cryptocurrency
Countries That Use Cryptocurrency: compare 197 countries on 4 metrics.
EconomicsTech & Business197 countries · 4 metricsUpdated Feb 19, 2025Original page
15 sources
- Cryptocurrency Legality Map - Newhedge
- Legality of Crypto by Country or Territory - Wiki
- Countries with Crypto as a Legal Tender - Coin Market Cap
- A Short History Of Bitcoin And Crypto Currency Everyone Should Read - Forbes
- The Evolution of Bitcoin: From Cryptocurrency to Global Phenomenon - Analytics Insight
- The Crypto Story: Where it came from, what it all means, and why it still matters - Bloomberg
- Cryptocurrency - Wiki
- Countries Where Bitcoin Is Legal and Illegal - Investopedia
- Regulation of Cryptocurrency Around the World: November 2021 Update - US Library of Congress
- Countries Where Cryptocurrency Is Legal and Illegal - Money
- Countries Where Bitcoin Is Banned or Legal In 2022 - Cryptonews
- Countries That Legalized Cryptocurrency - 101 Blockchains
- Bitcoin ban: These are the countries where crypto is restricted or illegal - Euronews
- From Russia to Macedonia: How Cryptocurrencies Are Regulated in Eastern Europe - Cointelegraph
- Clarifying the CLARITY Act: What To Know About the House Crypto Market Structure Bill and Its Path to Law - Arnold & Porter
Legal Status NewHedge
5 values across 193 entries
Data
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197 countries
 Afghanistan | Illegal | — | Illegal | Taliban banned crypto trading in August 2022. |
 Albania | Alegal | Regulated by Law No. 66/2020 "On Financial Markets based on Distributed Registry Technology," licensing entities in cryptocurrency distribution and trading. | Legal | On 21 May 2020, Albania passed a new law to regulate cryptocurrency activities. |
 Algeria | Illegal | The purchase, sale, use, and holding of virtual currency is prohibited. Any breach is punishable. | Illegal | The purchase, sale, use, and holding of virtual currency are prohibited. Violations are punishable under existing laws. |
 American Samoa | Legal | — | — | — |
 Andorra | Alegal | — | — | — |
 Angola | Unknown | No legislation against Bitcoin, though government advises against its use. | Legal | Government officials have advised against bitcoin use, but there is no legislation prohibiting it. |
 Antigua and Barbuda | Legal | — | — | — |
 Argentina | Alegal | Cryptocurrencies not prohibited. Tax laws include profits from digital currencies as taxable income. | Legal / Banking Ban | Bitcoin is considered a "good" under civil law but not legal currency. In May 2022, the Central Bank banned financial institutions from facilitating crypto transactions. |
 Armenia | Unknown | — | — | — |
 Australia | Legal | Legal to trade and hold cryptocurrencies. Licensing framework for exchanges is under development. | Legal | In December 2013, the Reserve Bank of Australia stated there’s no law against using competing currencies like bitcoin. From April 2018, exchanges must register with the Australian Transaction Reports and Analysis Centre. |
 Austria | Legal | Bitcoin and cryptocurrencies are legal to hold and trade. Austrian law does not explicitly prohibit cryptocurrencies. | Legal | Cryptocurrencies are not official currency but are subject to tax law. The Financial Market Authority warns investors about risks. |
 Azerbaijan | Legal | — | — | — |
 Bahamas | Legal | — | — | — |
 Bahrain | Legal | — | — | — |
 Bangladesh | Illegal | Explicit ban on cryptocurrencies. | Illegal | Crypto transactions criminalized under anti-money laundering laws. |
 Barbados | Alegal | — | — | — |
 Belarus | Legal | Cryptocurrency transactions legalized under Decree No. 8 in March 2018. | Legal | The Decree On the Development of Digital Economy allows residents to engage in cryptocurrency operations, including mining, token creation, and exchange services, with exemptions on revenue and profits from operations with tokens until 2023. |
 Belgium | Legal | Legal to trade and hold bitcoin and other cryptocurrencies. Warnings about risks associated with their use. | Legal | In July 2013, the Minister of Finance expressed concerns over Bitcoin's use for money laundering but did not see a need for government intervention. |
 Belize | Legal | — | — | — |
 Benin | Unknown | — | — | — |
 Bhutan | Unknown | — | — | — |
 Bolivia | Illegal | Explicitly banned since 2014. | Legal / Banking Ban | The Central Bank banned bitcoin and all unregulated digital currencies in 2014. A 2020 resolution repealed the original ban. |
 Bosnia and Herzegovina | Legal | Bitcoin and cryptocurrencies are legal to trade and hold. No plans to limit transactions in virtual currencies. | Legal | No regulation on the use of bitcoins. |
 Botswana | Unknown | — | — | — |
 Brazil | Legal | No regulations against cryptocurrencies. Proposed legislation in 2020 for business use regulations. | Legal | A licensing regime for crypto service providers was established in December 2022. Crypto was previously discouraged due to operational risks. |
 Brunei | Legal | Bitcoin and cryptocurrency are legal to hold and trade but not regulated by AMBD. | Legal to trade and hold | Bitcoin is not legal tender and not regulated. Authorities warn against investment scams but do not prohibit trading or holding. |
 Bulgaria | Legal | Bitcoin and cryptocurrencies are legal to trade and hold. The sale of virtual currencies is subject to income tax. | Legal | No specific mention of bitcoin in Bulgarian laws. Individuals must pay 10% tax on profits from trading. |
 Burkina Faso | Unknown | — | — | — |
 Burundi | Unknown | — | — | — |
 Cambodia | Unknown | Cryptocurrencies legal to trade but banned for use in banking transactions. | Legal / Banking ban | The National Bank of Cambodia prohibits banks from allowing cryptocurrency transactions. |
 Cameroon | Unknown | — | — | — |
 Canada | Legal | Banned for use in banking transactions. Bitcoin-related business models regulated in Quebec. BMO and TD banned cryptocurrency purchases with their cards. | Legal / Banking Ban | Crypto companies must register with FINTRAC and comply with AML laws. Some banks restrict crypto purchases. |
 Cape Verde | Unknown | — | — | — |
 Central African Republic | Legal Tender | Bitcoin became legal tender on April 27, 2022. | Legal | Bitcoin was declared legal tender in April 2022 but repealed in April 2023. |
 Chad | Unknown | — | — | — |
 Chile | Alegal | No regulations prohibiting cryptocurrencies. Proposal in 2021 for recognizing and regulating them as a legal means of payment. | Legal | There are no regulations on bitcoin usage. |
 China | Illegal | All buying, selling, transactions, and mining of cryptocurrencies are illegal as of 2021. | Illegal | Financial institutions cannot facilitate bitcoin transactions. Cryptocurrency exchanges and mining were fully banned on 24 September 2021. |
 Colombia | Alegal | Legal to use but banks prohibited from dealing with cryptocurrencies. | Legal / Banking Ban | Financial institutions cannot facilitate bitcoin transactions. The Superintendencia Financiera prohibited banks from engaging with virtual currencies in 2014. |
 Comoros | Unknown | — | — | — |
 Costa Rica | Legal | Not considered legal tender, but not illegal. A few merchants accept bitcoins. | Not considered currency | The Central Bank stated in 2017 that cryptocurrencies are not considered legal currency and cannot be traded on the national payment system. Users assume all risks. |
 Croatia | Legal | Legal to hold and trade bitcoin. Cryptocurrencies are not considered a legal means of payment. | Legal | Financial authorities warn about digital wallet theft and fraud. No direct regulation. |
 Cyprus | Legal | Not illegal but not regulated. Businesses enjoy relaxed regulation. | Legal | The use of bitcoin is not regulated in Cyprus. |
 Czechia | Legal | Bitcoin and cryptocurrencies are considered commodities. They are legal to trade and own. Czech banks can offer cryptocurrency-related services if AML/KYC regulations | Legal | Businesses dealing in cryptocurrencies must comply with anti-money laundering laws |
 Denmark | Legal | Legal to buy, sell, and hold cryptocurrencies. No regulation from the Financial Supervisory Authority. | Legal | Denmark's Financial Supervisory Authority (FSA) declared bitcoin is not a currency and does not regulate its use. In 2017, FSA stated that doing business with bitcoin does not fall under its regulatory authority. |
 Dominica | Unknown | — | — | — |
 Dominican Republic | Legal | — | — | — |
 DR Congo | Unknown | — | — | — |
 Ecuador | Alegal | Central Bank states that buying/selling crypto is not forbidden but not an authorized payment method. | Legal to trade/hold / Illegal as payment tool, banking ban | Cryptocurrencies cannot be used as a payment tool, but buying and selling them is legal. Banks strictly block crypto-related transactions. |
 Egypt | Alegal | Egypt's Dar al-Ifta has issued a religious decree classifying commercial transactions in bitcoin as haram (prohibited under Islamic law). | Illegal | Individuals, banks, and financial institutions are prohibited from dealing in cryptocurrencies. |
 El Salvador | Legal Tender | Bitcoin was made legal tender in 2021 through the "Bitcoin Law." | Legal | Bitcoin became legal tender on 7 September 2021. While 12% of consumers used it in the first month, 93% of businesses reported receiving no bitcoin payments. |
 Equatorial Guinea | Legal | — | — | — |
 Eritrea | Unknown | — | — | — |
 Estonia | Legal | Legal to trade and hold cryptocurrencies. Draft legislation for tighter regulations introduced in 2022. | Legal | In Estonia, the use of bitcoins is not regulated or controlled by the government, and there are no legal obstacles to using bitcoin-like cryptocurrencies for payments. |
 Eswatini | Unknown | — | — | — |
 Ethiopia | Legal | — | — | — |
 Faroe Islands | Legal | — | — | — |
 Fiji | Unknown | — | Legal | Prime Minister Sitiveni Rabuka supported cryptocurrencies and planned to make bitcoin legal tender by 2023. |
 Finland | Legal | Legal to trade and hold cryptocurrencies. Taxed as private contracts for difference. | Legal | The Finnish Tax Administration considers bitcoin transactions as private contracts for tax purposes. Bitcoin is taxable on its increase in value, but losses are not tax-deductible. Mined bitcoin is considered earned income. |
 France | Legal | Legal to trade and hold bitcoin. Government is supportive of cryptocurrency development. | Legal | In July 2014, the French Ministry of Finance issued regulations concerning virtual currency professionals, exchanges, and taxation. |
 Gabon | Alegal | — | — | — |
 Gambia | Unknown | — | — | — |
 Georgia | Legal | Income tax exemption on profits from crypto sales and no legislative restrictions. Georgia is a hub for bitcoin miners. | Legal | Based on a public decision in 2019, crypto income is not considered "Georgian sourced," and it falls under a 0% tax on capital gains derived from crypto trading. |
 Germany | Legal | Legal in Germany. Treated as private money for tax purposes. Not considered legal tender or foreign currency. | Legal | Bitcoin is considered "private money" and is taxed like euro transactions. Banks can sell and store cryptocurrencies since 2020. |
 Ghana | Legal | — | — | — |
 Gibraltar | — | — | Legal | Gibraltar introduced a regulatory framework in 2018 for businesses using distributed ledger technology. |
 Greece | Legal | Legal to hold and trade cryptocurrencies. No explicit regulatory legislation on taxation of cryptocurrency income. | Legal | No specific legislation on bitcoins exists in Greece. |
 Greenland | Legal | — | — | — |
 Grenada | Unknown | — | — | — |
 Guam | Legal | — | — | — |
 Guatemala | Legal | — | — | — |
 Guinea | Unknown | — | — | — |
 Guinea-Bissau | Unknown | — | — | — |
 Guyana | Unknown | — | — | — |
 Haiti | Legal | — | — | — |
 Honduras | Unknown | — | — | — |
 Hong Kong | — | — | Legal | Bitcoin is considered a virtual commodity. No direct legislation but monitored under anti-money laundering laws. A regulatory framework was finalized in 2023, and new Virtual Asset Trading Platform regulations took effect in mid-2024. |
 Hungary | Legal | No laws specifically prohibiting or regulating bitcoin. | Legal | The Hungarian Central Bank issued warnings but did not make cryptocurrencies illegal. |
 Iceland | Legal | Bitcoin and cryptocurrencies are not considered legal tender, but not illegal to trade. Iceland is home to large bitcoin mining facilities due to low energy costs. | Legal | Iceland restricts foreign exchange trading with bitcoin but allows bitcoin mining. In 2017, the Central Bank granted exemptions to previous rules, providing more flexibility for virtual currency transactions. |
 India | Legal | No explicit regulations or bans on cryptocurrencies. RBI's previous banking ban was reversed by the Supreme Court in 2020. | Legal | Not recognized as legal tender but not banned. Regulatory uncertainty remains. |
 Indonesia | Legal | Banned as a payment instrument, but still allowed to be traded. Banned for use in banking transactions. | Legal to trade and hold / Illegal as payment | Cryptocurrencies are banned as payment tools since 1 January 2018. A 2021 fatwa declared cryptocurrency haram unless meeting Islamic trade criteria. In 2022, cryptocurrencies were classified as "monitored financial technologies." |
 Iran | Alegal | — | Legal / Banking ban | Banks prohibited from facilitating crypto transactions. |
 Iraq | Unknown | — | — | — |
 Ireland | Legal | Legal to trade and hold cryptocurrencies. No blanket prohibition. | Not regulated by central bank | The Central Bank of Ireland stated in December 2013 that it does not regulate bitcoin, and bitcoin is not legal tender in the EU. |
 Israel | Legal | Bitcoin and cryptocurrencies are taxable assets. A 25% capital gains tax applies to sales, with miners and traders subject to corporate income tax and VAT. | Not considered currency | Treated as a taxable asset with capital gains tax. |
 Italy | Legal | Legal to hold and trade cryptocurrencies. No specific legislation regarding taxation of cryptocurrency income. | Legal | Italy does not regulate bitcoin use by private individuals. |
 Ivory Coast | Legal | — | — | — |
 Jamaica | Legal | Not explicitly prohibited, but cryptocurrencies are not legal tender in Jamaica. | Legal | The Bank of Jamaica supports exploring cryptocurrency technology and launched a campaign to raise awareness in 2017. |
 Japan | Legal | Bitcoin and cryptocurrencies are legal. Japanese regulators have a hands-off approach, allowing digital assets to prosper. | Legal | Bitcoin is not considered currency but can be used for transactions. Since April 2017, cryptocurrency exchanges must register and comply with security and anti-money laundering regulations. |
 Jordan | Alegal | The Central Bank of Jordan prohibits banks, currency exchange companies, and financial entities from facilitating cryptocurrency transactions. | Legal / Banking ban | Central Bank prohibits financial institutions from dealing in crypto. Some merchants still accept it. |
 Kazakhstan | Alegal | One of the top bitcoin mining countries. 15% tax on cryptocurrency income. | — | — |
 Kenya | Alegal | — | — | — |
 Kiribati | Unknown | — | — | — |
 Kuwait | Legal | — | — | — |
 Kyrgyzstan | Alegal | Bitcoin is considered a commodity. It is legally mined, bought, sold, and traded on local exchanges. | Legal | Bitcoin is considered a commodity but restricted in domestic settlements. |
 Laos | Unknown | — | — | — |
 Latvia | Legal | — | — | — |
 Lebanon | Legal | Despite warnings from the Lebanese Central Bank, laws do not prohibit the ownership, use, and trade of Bitcoin or other cryptocurrencies. | Legal | Government discourages crypto use. |
 Lesotho | Unknown | — | — | — |
 Liberia | Legal | — | — | — |
 Libya | Legal | — | — | — |
 Lithuania | Legal | Bitcoin and cryptocurrencies are legal to trade and hold. Income is taxed at a fixed 15% personal income tax rate. | Legal | The Bank of Lithuania warned that bitcoin is not recognized as legal tender, advising users about the high risks associated with using it. |
 Luxembourg | Legal | — | Legal | In February 2014, the Commission de Surveillance du Secteur Financier acknowledged bitcoin and other cryptocurrencies as currency. The first BitLicence was issued in 2015. |
 Madagascar | Legal | — | — | — |
 Malawi | Unknown | — | — | — |
 Malaysia | Alegal | Legal to trade but not legal tender. Central Bank does not regulate Bitcoin. | Legal | Bitcoin is not legal tender but is not regulated. In 2024, authorities allowed cryptocurrency to be used for zakat payments with a 2.5% rate. |
 Maldives | Unknown | — | — | — |
 Mali | Unknown | — | — | — |
 Malta | Legal | Legal to trade and hold. Regulated with tax guidelines for digital assets, dubbed "The Blockchain Island". | Legal | As of 2017, no specific regulations on bitcoins. The prime minister announced a national strategy to promote bitcoin and blockchain technology. |
 Marshall Islands | — | — | Legal | Decentralised autonomous organisations (DAOs), which are blockchain-based, are considered legal entities in the Marshall Islands. |
 Mauritania | Unknown | — | — | — |
 Mauritius | Legal | Regulated as Digital Assets under the Financial Services Act. Caution for investors due to lack of statutory protections. | Legal | Cryptocurrencies are regulated as Digital Assets under the Financial Services Act 2007, but investors are not protected by statutory compensation agreements. |
 Mexico | Legal | Bitcoin legal since 2017. Plans to regulate it as a virtual asset under the FinTech Law. | Legal | Bitcoin is legal, with plans to regulate it as a virtual asset under the FinTech Law. |
 Micronesia | Unknown | — | — | — |
 Moldova | Alegal | — | — | — |
 Mongolia | Legal | — | — | — |
 Montenegro | Unknown | — | — | — |
 Morocco | Alegal | Explicit ban on cryptocurrencies, with penalties for transactions. | Illegal | Transactions via virtual currencies violate exchange regulations. Authorities warn of risks like money laundering and terrorist financing |
 Mozambique | Unknown | — | — | — |
 Myanmar | Unknown | — | — | — |
 Namibia | Unknown | Cryptocurrency exchanges are not allowed, and cryptocurrency cannot be accepted as payment for goods or services. | Legal / Banking Ban | Cryptocurrency exchanges are not allowed, and crypto cannot be used for payments. |
 Nepal | Illegal | Since 2017, the Nepal Rastra Bank has maintained that all transactions related to or regarding bitcoins are illegal. | Illegal | Absolute ban on cryptocurrency. |
 Netherlands | Legal | Legal to trade and hold bitcoin. No regulations prohibiting cryptocurrencies. | Legal | As of 2013, bitcoin is not classified as money in the Netherlands. Cryptocurrencies must be declared, and taxes must be paid. |
 New Zealand | Legal | Bitcoin and cryptocurrencies are legal to trade and hold. No specific regulations but contract and tax laws apply. | Legal | The Reserve Bank of New Zealand stated that non-banks don't need approval for bitcoin schemes that don't involve issuing physical currency. |
 Nicaragua | Legal | Bitcoins are being used in the country. | Not regulated as of 2014 | The government had not issued regulations or guidance on Bitcoin as of 2014. An American banker used bitcoin to purchase real estate. |
 Niger | Unknown | — | — | — |
 Nigeria | Alegal | The Central Bank of Nigeria banned bank transactions in bitcoin and other virtual currencies in 2017 and reaffirmed the ban in 2021. | Legal / Banking Ban | Banks are prohibited from facilitating cryptocurrency transactions. However, the government is exploring blockchain adoption. Violations attract penalties. |
 North Korea | Unknown | — | — | — |
 North Macedonia | Illegal | Trading and use of Bitcoin is illegal. | Legal | No specific legislation on bitcoins or cryptocurrency exists. However, the National Bank warned against scams like ONECOIN. |
 Northern Mariana Islands | Legal | — | — | — |
 Norway | Legal | Bitcoin is recognized as an asset and legal to trade and hold. Taxed at a fixed 15% rate. | Legal | The Norwegian Tax Administration treats bitcoin as an asset, subjecting profits to wealth tax. Bitcoin transactions in business fall under sales tax regulations, but the government exempted VAT on the purchase or sale of bitcoin. |
 Oman | Unknown | — | — | — |
 Pakistan | Unknown | No specific regulation on cryptocurrencies yet. | Legal | Not regulated, but arrests have occurred for mining and money laundering concerns |
 Palau | Unknown | — | Legal | The use of cryptocurrencies is officially supported by the government. |
 Panama | Alegal | No regulations prohibiting cryptocurrencies. Proposals introduced for regulation and legal certainty. | — | — |
 Papua New Guinea | Unknown | — | — | — |
 Paraguay | Alegal | — | — | — |
 Peru | Alegal | No regulations prohibiting cryptocurrencies. | — | — |
 Philippines | Legal | Legal to hold and trade cryptocurrencies, with risks explained by the central bank. | Legal | Cryptocurrency exchanges are regulated by the Central Bank under Circular 944. Bitcoin is not considered legal currency. |
 Poland | Legal | Bitcoin and cryptocurrencies are legal to hold and trade. PIT-38 form for cryptocurrency taxes released in 2020. | Legal | Bitcoin is not considered legal tender, but it is not illegal. Some risks are associated with it, as noted by financial authorities. |
 Portugal | Legal | Cryptocurrency tax haven with 0% tax on bitcoin-derived income. | Legal | In 2013, the Bank of Portugal warned that Bitcoin was not a safe currency. By 2014, there was no specific legal framework for Bitcoin. |
 Puerto Rico | Legal | — | — | — |
 Qatar | Illegal | Qatar's central bank announced that it is illegal to trade bitcoin in the country. | Legal / Banking ban | Banks cannot trade crypto; banned in Qatar Financial Centre. |
 Republic of the Congo | Legal | — | — | — |
 Romania | Legal | Bitcoin and cryptocurrencies are legal to hold and trade. Considered digital assets or commodities, not legal tender. | Legal | Bitcoin use is regulated under Law 210/2019, with income from trading classified as "income from other sources." |
 Russia | Legal | Not a method of payment domestically but legally recognized. Legal to trade, though warnings about volatility exist. | Legal to mine / Banking ban | Cryptocurrency is considered a monetary substitute by Russian law, with mining legal but a banking ban on crypto-related transactions. In 2021, Russia accepted cryptocurrencies for international trade. However, domestic cryptocurrency payments remain banned. |
 Rwanda | Unknown | — | — | — |
 Saint Kitts and Nevis | Legal | — | — | — |
 Saint Lucia | Unknown | — | — | — |
 Saint Vincent and the Grenadines | Unknown | — | — | — |
 Samoa | Unknown | — | Legal | The use of cryptocurrencies in Samoa is legal but discouraged by the Central Bank of Samoa. |
 Sao Tome and Principe | Alegal | — | — | — |
 Saudi Arabia | Alegal | Legal to trade, but banking institutions prohibited from dealing with crypto unless approved. | Legal / Banking ban | Financial institutions warned against using bitcoin. |
 Senegal | Unknown | — | — | — |
 Serbia | Legal | — | — | — |
 Seychelles | Unknown | — | — | — |
 Sierra Leone | Unknown | — | — | — |
 Singapore | Legal | Both trading and holding of bitcoin and cryptocurrencies are allowed. A popular location for crypto companies due to favorable regulation. | Legal | Businesses can choose whether to accept bitcoin. The Monetary Authority of Singapore warns of risks but does not intervene. Bitcoin is classified as a digital payment token under the Payment Services Act. |
 Slovakia | Legal | No laws specifically prohibiting or regulating bitcoin. Guidance provided in 2018 that cryptocurrency revenues must be taxed. | Legal | Bitcoin is not classified as currency and is not regulated. Risks are associated with participation in virtual currency activities. |
 Slovenia | Legal | No laws specifically prohibiting or regulating bitcoin. FURS provided guidelines on taxation for cryptocurrencies in 2017. | Legal | Bitcoin is not considered currency or asset, but businesses selling goods/services in bitcoin are taxed. |
 Solomon Islands | Unknown | — | — | — |
 Somalia | Unknown | — | — | — |
 South Africa | Legal | No legal status or regulatory framework for virtual currencies, classified as intangible assets for tax purposes. | Legal | The Reserve Bank declared virtual currency has no legal status or regulatory framework. The South African Revenue Service classifies bitcoin as an intangible asset. |
 South Korea | Legal | Legal to buy, sell, and trade cryptocurrencies. | Legal | Minors and foreigners cannot trade cryptocurrencies. South Korean adults can trade using real-name accounts at banks. Both banks and exchanges enforce anti-money laundering measures. |
 South Sudan | Unknown | — | — | — |
 Spain | Legal | Legal to trade and hold bitcoin. Cryptocurrencies are not considered financial instruments under Spanish law. | Legal | Bitcoin transactions are subject to the same laws as barter transactions. |
 Sri Lanka | Unknown | — | — | — |
 Sudan | Unknown | — | — | — |
 Suriname | Unknown | — | — | — |
 Sweden | Legal | Legal to trade and hold cryptocurrencies, classified as property. No legislation against trading or mining. | Legal | The Swedish Tax Agency ruled that bitcoin transactions are not subject to VAT but are treated as currency by the Swedish Financial Supervisory Authority, with applicable regulations for businesses. |
 Switzerland | Legal | Bitcoin and cryptocurrencies are legal to hold and trade. Zug is known as "Crypto Valley." Plans to make bitcoin legal tender in Lugano, announced in 2022. | Legal | Bitcoin businesses are subject to anti-money laundering regulations. No legislative action is required currently. |
 Taiwan | Legal | Legal to trade, but increased regulation and warnings from financial authorities. Banned for use in banking transactions. | Legal / Banking ban | Financial institutions cannot facilitate bitcoin transactions. Regulators warn bitcoin has no legal protection. Bitcoin ATMs are not allowed. |
 Tajikistan | Unknown | — | — | — |
 Tanzania | Alegal | Not officially banned, but advised against by the Bank of Tanzania. | Legal / Use discouraged | The Bank of Tanzania advises against cryptocurrency use, emphasizing that the Tanzanian shilling is the only legal tender. |
 Thailand | Legal | Legal to trade and hold bitcoin. Ban lifted in 2014. | Legal to trade and hold / Illegal as payment | Cryptocurrency trading is allowed but must be in Thai Baht. From 1 April 2022, using cryptocurrencies for payments is prohibited. Commercial banks are cautioned against direct involvement in digital assets. |
 Timor-Leste | Legal | — | — | — |
 Togo | Unknown | — | — | — |
 Tonga | Unknown | — | Legal | Tonga plans to make bitcoin legal tender by the end of 2023. This has been planned since late 2021. |
 Trinidad and Tobago | Unknown | Legal for citizens to buy, store, and sell cryptocurrencies. Not recognized as legal tender. | Legal | The Central Bank is open to working with fintech and crypto firms but warns of risks, criminal use, and lack of insurance or regulatory protections. |
 Tunisia | Alegal | — | — | — |
 Turkey | Legal | Legal to hold cryptocurrencies but banned in banking transactions. | Legal / Illegal as a payment tool, banking ban | Banned for payments in 2021 due to transaction risks. |
 Turkmenistan | Unknown | — | — | — |
 Tuvalu | — | — | Legal | The government officially supports the use of blockchain technologies, including cryptocurrencies. |
 Uganda | Unknown | — | — | — |
 Ukraine | Legal | Legal framework for the cryptocurrency industry established in March 2022. Crypto donations raised over $63.8 million during the Russian invasion. | Legal / Illegal to buy with local currency | Ukraine legalized cryptocurrency in March 2022 but banned purchasing it with local currency, allowing purchases only with foreign currencies under a $3300 limit. |
 United Arab Emirates | Alegal | Legal to trade cryptocurrencies, with regulations for licensing by the Securities and Commodities Authority. | Legal / Banking ban | Central Bank does not recognize crypto for payments yet. Regulations exist for crypto assets. |
 United Kingdom | Legal | Legal to trade and hold cryptocurrencies. No regulatory legislation prohibiting their use. | Legal | As of 2013, bitcoin is unregulated in the UK and treated as foreign currency for most purposes. VAT is due on goods/services exchanged for bitcoin. Profits/losses are subject to capital gains tax. |
 United States | Legal | Bitcoin classified as a convertible decentralized virtual currency by the U.S. Treasury. CFTC classified as a commodity. IRS taxes as property. | Legal | Bitcoin is classified as a virtual currency, a commodity, and taxable property. Crypto businesses must follow AML regulations. |
 United States Virgin Islands | Legal | — | — | — |
 Uruguay | Alegal | — | — | — |
 Uzbekistan | Legal | Legalized crypto trading in 2018. | Legal | Crypto trading and mining legalized in 2018; tax-free. |
 Vanuatu | Alegal | — | Legal | Legalized in 2021. |
 Venezuela | Legal | Cryptocurrencies and mining are legal in Venezuela, amidst hyperinflation. | Legal to hold / Illegal to mine | Bitcoin ownership is legal. However, in March 2023, authorities banned cryptocurrency mining due to corruption concerns, and the ban remained in place as of June. |
 Vietnam | Alegal | The government has not banned the trading or holding of cryptocurrencies. | Legal to trade and hold / Illegal as payment | The use of bitcoin as payment is illegal and subject to fines, but trading it as a virtual asset is allowed. |
 Western Sahara | Legal | — | — | — |
 Yemen | Unknown | — | — | — |
 Zambia | Legal | — | — | — |
 Zimbabwe | Alegal | The Reserve Bank of Zimbabwe is skeptical but BitMari received a license in 2017 to operate. | Unknown | The Reserve Bank banned crypto banking, but a High Court Order lifted the ban. The matter remains unresolved. |
Quick answers
- Where does this countries that use cryptocurrency data come from?
- Rankodex compiles it from World Population Review and the primary sources it cites: Cryptocurrency Legality Map - Newhedge; Legality of Crypto by Country or Territory - Wiki; Countries with Crypto as a Legal Tender - Coin Market Cap; A Short History Of Bitcoin And Crypto Currency Everyone Should Read - Forbes.