Recently, while researching global cryptocurrency policies, I discovered an interesting phenomenon: there are already 51 countries and regions worldwide that have imposed varying degrees of restrictions on cryptocurrencies. Among them, the strictest are nine countries that have implemented absolute bans, completely prohibiting the production, holding, trading, and use of cryptocurrencies. This list includes Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar, and Tunisia.

Speaking of Nepal, can you buy cryptocurrencies there? The answer is no. Nepal is classified as an absolute ban country, so legally purchasing or holding cryptocurrencies locally is not possible. Besides these nine countries, there are 42 countries that have adopted implicit bans, mainly prohibiting banks and financial institutions from participating in crypto activities and not allowing exchanges to operate within their borders. Countries like Kazakhstan, Tanzania, Cameroon, Turkey, Lebanon, the Central African Republic, the Democratic Republic of the Congo, Indonesia, Bolivia, and Nigeria fall into this category.

Why are these countries so resolute in their stance? The main reasons are severalfold. First, to protect financial stability and monetary sovereignty; many countries worry that cryptocurrencies could disrupt their national fiat currency systems. Second, due to capital controls, anti-money laundering, and anti-terrorism financing needs, the anonymity of cryptocurrencies poses a headache for regulators. Additionally, some countries believe cryptocurrencies could lead to resource wastage and social issues, so they simply choose to ban them outright. The logic in these countries is clear: rather than expending effort on regulation, a complete ban is a more thorough solution.