Egypt American Samoa Bitcoins legality that despite the bans and restrictions, these laws have not eradicated Bitcoin or other cryptocurrency trades and their usage. Due to the nature of decentralized cryptocurrencies, it is simply impossible to ban them.
Many individuals in those countries still make use of sites like Local BitcoinsPaxful or Bisq to trade it with others, as indicated by the trading volumes on these platforms.
LocalBitcoins trading volume in China. Source: Coin.
Countries where Bitcoin is legal On a positive note, research shows there are at least states where Bitcoin and cryptocurrencies are bitcoins legality by law and are legal. For instance, major countries like the United States and Canada hold bitcoins legality generally crypto-friendly attitude towards cryptocurrencies while also trying to enforce anti-money laundering laws and prevent fraud.
Meanwhile, in the European Union, the member states are not allowed to launch their own cryptocurrency, but crypto exchanges are encouraged to be legalized and comply with the regulations.