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Cryptocurrencies are banned in these countries.

Cryptocurrencies have been banned by some governments, but they are not illegal in many others. <br>Governments and cryptocurrencies have always had a tense relationship. Some countries have outright banned purchasing, owning, and trading. <br>

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Cryptocurrencies are banned in these countries.

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  1. Cryptocurrencies are banned in these countries. Bangladesh - Bangladesh has banned cryptocurrencies since 2017. The central bank warned against bitcoin transactions. These are illegal, as stated. Therefore, trading with unnamed parties may be against the country's Money Laundering Prevention Act. Bolivia - In 2014, Bolivia's central bank banned all decentralized cryptocurrencies. However, it allowed those created by the government. Investors and the national currency were protected by this ruling. Algeria - Algeria outlawed the use of cryptocurrencies in 2018. In Arabic, a law defines cryptocurrency as follows: Those who violate this ban will be punished under existing financial laws. Nepal - The Nepal Rastra Bank banned cryptocurrencies in a 2017 notice. A few days after this notice, law enforcement arrested seven people for running a cryptocurrency exchange. There was a possibility of fines and jail time at the time. Currently, the case is still pending. Egypt - Egypt does not directly ban cryptocurrency. In 2017, the Islamic legislator declared cryptocurrencies haram (prohibited) under Sharia law.

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