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Regulation of Cryptocurrency Around the World: November 2021 Update

The Law Library of Congress is proud to present the updated report, Regulation of cryptocurrency around the world: November 2021 update

This table updates a more comprehensive 2018 Law Library of Congress report on the regulation of cryptocurrencies around the world and adds the United States to the surveyed jurisdictions. It focuses on two topics. First, the legal status of cryptocurrencies, meaning whether a country either explicitly or implicitly bans cryptocurrencies. Second, the table shows the regulatory framework surrounding cryptocurrencies, in particular the application of tax laws and anti-money laundering and counter-financing of terrorism laws (AML/CFT laws) to cryptocurrencies. The accompanying two maps visually represent findings from the table on the legal status of cryptocurrencies and the regulatory framework surrounding cryptocurrencies.
It is worth noting that, since the publication of the 2018 report, the number of countries found to have issued cryptocurrency bans has increased significantly. While the 2018 report identified 8 jurisdictions with an absolute ban and 15 jurisdictions with an implicit ban, the November 2021 update identifies 9 jurisdictions with an absolute ban and 42 with an implicit ban. (Nov. 2021)