Which countries have banned cryptocurrencies?

Countries such as Argentina, Colombia, Iran, and Taiwan have instituted partial bans, such as allowing individuals to hold or mine digital assets while prohibiting banks from accepting them as payment methods. But there are at least 19 countries where crypto is banned completely.

Why did China ban cryptocurrencies?

However, China's cryptocurrency ban comes amid fears that cryptocurrencies were facilitating capital flight from its markets, bypassing conventional restrictions. China's cryptocurrency ban is part of a new trend in Chinese economic policy toward greater state intervention, epitomized in the “common prosperity” campaign.

Is China's crypto ban a surprise?

China flag blowing in the wind. Those familiar with the crypto industry will understand that China’s crypto ban is not entirely a surprise. The country has maintained a hostile relationship with its crypto industry since 2013, when it rolled out its first set of crypto restrictions.