
Cryptocurrency has reshaped financial systems globally, offering opportunities for decentralized transactions and privacy. However, some countries still enforce strict crypto bans due to concerns about financial stability, money laundering, and other risks. Let’s explore the top crypto bans of 2025.
Some of these global crypto bans may be surprising:
China banned cryptocurrency in 2017 following the shutdown of exchanges and mining by the authorities. The risks involved, according to the government, include capital flight and financial instability, and these are the reasons for the ban. Underground crypto trading continues to thrive despite the risks, and the country has developed its own central bank digital currency (CBDC).
Though Egypt has not banned cryptocurrency entirely, the Central Bank of Egypt (CBE) has put in place strict restrictions because of volatility, money laundering, and fraud fears. Peer-to-peer crypto trading continues, showing that the nation struggles to effectively curb digital currency use.
Algeria has one of the strongest bans on cryptocurrency, outlawing both ownership and transactions. The state is justified in banning it because of the fear of financial security, money laundering, and terrorism funding. As much as it has been enforced, illegal crypto usage persists through off-book channels.
Cryptocurrency has been illegal in Bangladesh since 2017, carrying fines and jail sentences for offenders. The Bangladesh Bank has raised alarm over illegal practices and market instability. Nevertheless, Bangladesh is among the leading countries with regards to peer-to-peer crypto adoption, ranking 35th in the 2024 Global Crypto Adoption Index.
Nepal banned cryptocurrency in 2017, and the Nepal Rastra Bank prohibited all crypto-related activities and specifically put a Bitcoin ban. This happened as officials arrested many traders on the grounds of financial instability and fraud. However, some individuals still use cryptocurrencies secretly.
Afghanistan's Taliban regime prohibited cryptocurrency in 2022 as a result of financial instability and fraud. Cryptocurrencies were popularly utilized prior to the prohibition on remittances and asset preservation. Although use remains under the surface, the regime tightly restricts crypto trading under the law.
Morocco prohibited cryptocurrency transactions in 2017 on the grounds of risks of financial crime and instability. Nevertheless, peer-to-peer trading of crypto remains. The nation is currently in the process of enacting new legislation to control digital assets and is examining the possibilities of a central bank digital currency (CBDC).
Bolivia banned cryptocurrencies in 2014 on the grounds of risk to monetary stability and illicit activities. Bolivia relaxed its attitude in 2024, permitting financial institutions to deal with crypto transactions under monitored circumstances.
Iraq's central bank prohibited cryptocurrency transactions in 2017 on financial crime and consumer protection grounds. Although the ban is on paper, off-book trading persists, and enforcement is patchy.
While Russia suggested an outright ban on cryptocurrency in 2022, it eventually decided on regulation later. Russia legalized cryptocurrency mining and permitted digital assets for foreign payments by 2024. Crypto payments are still prohibited domestically, and the nation is working on a regulatory system for cross-border crypto transactions.
Crypto bans continue to be widespread in some countries because of fear of financial stability and illegal practices. However, peer-to-peer exchange and illicit markets are keeping digital currencies afloat in such jurisdictions. With the changing regulatory environment across the world, it is unclear if these bans will continue or more countries will end up adopting crypto.