Color-Coded Map of Virtual Currency Regulation by Country

Read: Defining Crypto Investors As A Target Audience

Below you will find a breakdown of the reasoning behind why why each country was grouped into the level it was placed in. (Grey is unknown).

This is by no means a conclusive list, but rather a beginning of an ongoing conversation.

The four levels include: Banned, Quasi-Illegal, Government Oversight/Regulation, Little Oversight/Free.


These countries have out-right banned virtual currency.

Bolivia, Ecuador, Kyrgyzstan, Algeria, Nepal, Bangladesh, Cambodia, Namibia, Zimbabwe, Macedonia


Banned as a form of payment, but investors are still able to trade and hold.

Indonesia, Vietnam

Government Oversight/ Regulated:

There have been warnings issued, framework has been issued or is in development, or government issued some type of tax against investors.

Morocco, Nigeria, Canada, USA, Mexico, Argentina, UAE, Israel, Saudi Arabia, Slovenia, Switzerland, Jordan, Lebanon, India, Pakistan, China, Hong Kong, Japan, South Korea, Taiwan, Singapore, Phillipines, Germany, France, Spain, Sweden, Russia, Norway, Lithuania, Iceland, Finland

Little Oversight/Free:

These countries are laissez faire when it comes to virtual currency. At most, these countries have issued something equivalent to a public statement warning investors.

South Africa, Costa Rica, Nicaruaga, Jamica, Trinidad and Tobago, Brazil, Chile, Colombia, Cyprus, Turkey, Iran, Croatia, Czech Republic, Hungary, Poland, Romania, Australian, New Zealand, UK, Luxembourg, Netherlands, Ireland, Belgium, Portugal, Malta, Italy, Greece, Bulgaria, Bosnia and Herzegovina, Estonia, Denmark, Ukraine.

Please feel free to message me about additions you’d like to make. Unfortunately, I cannot get a real time map going of this.

Lets make this as open source as possible!

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BountBase is a virtual currency marketer & content creator that connects coin development teams to the larger blockchain community. You can follow us on Twitter @BountyBase or go to our website,

My dream is to blog full time. If you loved what you read, please consider a small donation in ETH