- A Library of Congress report found 51 countries have total or near-total bans on crypto.
- That’s more than twice as many as three years ago when the last report was published.
- China roiled markets earlier this year with a sweeping ban on activity in the crypto sector.
China isn’t the only country to ban cryptocurrencies.
In fact, another 50 countries have placed bans on crypto, according to a report from the Global Legal Research Directorate of the Law Library of Congress. Ther publication was first reported by Decrypt.
The November report found the number of countries banning crypto “increased significantly” since the research first came out in 2018.
Now, nine countries have an absolute ban, which makes crypto illegal, and 42 have an implicit ban, which prohibits financial institutions from dealing with crypto. That brings the current total to 51 countries — more than twice as many as in 2018 when just eight countries had an absolute ban and 15 had an implicit ban.
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