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List Of Countries Where Cryptocurrency Trading Is Banned

List Of Countries Where Cryptocurrency Trading Is Banned.

List of countries where cryptocurrency is also banned and Nigeria Joined them.

Central Bank of Nigeria, in a circular on Friday, February 5, directed banks to close accounts of persons or entities involved in cryptocurrency transactions within their systems.

Aside from being the biggest crypto market on the African continent, in terms of trade volume, Nigeria is the second biggest bitcoin market in the world after the United States.

China – The People’s Bank of China, which is China’s central financial regulatory authority, placed a ban on allndomestic and foreign cryptocurrency exchanges in the country in 2017.

Morocco – Morocco’s foreign exchange office and central bank prohibits the use of cryptocurrency for transactions in the country. Any citizen caught engaging in transactions involving the virtual currency will be fined.

Bangladesh – In Bangladesh, the use of bitcoin is considered illegal. In 2017, the Bangladesh bank issued a ban on cryptocurrency.

Pakistan – In April 2018, the central bank of Pakistan announced that bitcoin and cryptocurrencies are banned in the country, and banks will not facilitate any transaction for
them.

Algeria – In December 2017, Algeria passed a law that made bitcoin and other cryptocurrencies entirely illegal. The purchase, sale, use, or even holding cryptocurrency is
punishable by the law.

Egypt – “Egypt’s Dar al-Ifta, the primary Islamic legislator in
Egypt, issued a religious decree classifying commercial
transactions in bitcoin as haram (prohibited under Islamic
law).

And many others

Source: thenation

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