Current Landscape

The Legal Status of Cryptocurrencies Around the World

Current Landscape

The legal status of cryptocurrencies differs significantly across jurisdictions, ranging from fully regulated to outright illegal. While some countries have adopted comprehensive frameworks for cryptocurrency use, others have yet to establish clear guidelines.

Legal Jurisdictions

Cryptocurrencies are currently legal in approximately 119 countries, including major economies like the United States, Japan, and South Korea. In these jurisdictions, cryptocurrencies are treated as a form of property or digital asset and are subject to various regulations.

Illegal Jurisdictions

Despite its growing popularity, cryptocurrency remains illegal in a handful of countries, such as China, Iran, and Afghanistan. In these jurisdictions, the use and possession of cryptocurrencies are prohibited, and individuals who violate these laws may face severe penalties.

Undetermined Status

In many other countries, the legal status of cryptocurrencies remains undefined. This creates uncertainty and potential legal risks for individuals and businesses operating in these jurisdictions.