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The number of countries banning crypto has doubled in three years
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Although 2021 was a good year for the cryptocurrency industry in terms of market performance, the number of jurisdictions banning crypto has more than doubled since 2018.
A report by the Library of Congress (LOC) details the nine jurisdictions that have now applied an absolute ban on crypto and the 42 with an implicit ban. This is up from eight and 15 respectively in 2018 when the report was first published.
The LOC is the research library for the United States Senate, acting as the national library for the country.
In the context of the LOC report, an absolute ban means any "transactions with or holding cryptocurrency is a criminal act", whereas an implicit ban prohibits cryptocurrency exchanges, banks, and other financial institutions from
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