Qatar
Most of us love the Middle East for its oil money, luxurious life of the Arabs, food, and culture, and the various old and new architectural designs amidst the desserts. But did you know that Qatar isn’t very friendly to the cryptos? The Qatar Financial Centre Regulatory Authority(QFCRA) has already announced to its citizens that any kind of crypto-related services is banned in the nation.
The Qatar Financial Centre or the QFC is a jurisdiction within the country, having its tax, business, and financial infrastructure. The regulatory authority has vividly defined that trading and holding cryptos, payments using cryptos, and any services facilitating the same aren’t legal.
7 Countries Where Crypto is Banned
Countries Where Crypto is Banned: Cryptocurrency has taken the entire world’s financial system by storm and has become one of the trending topics in today’s world.
It is slowly growing as a digital asset, with more and more people investing in different currencies. Along with that, several investment banking institutions and centralized banks fear losing control with the Decentralized Finance (DeFi) system slowly coming into existence. While Bitcoin is the ocean’s shark, several other coins have come up in the cryptocurrency market. In recent times, there’s also hype about metaverse and NFT. Thus, a lot is going on in the online world.
Now gone are the days when you only used to have shares or real estate to invest your money.
Cryptos and all the projects built on cryptocurrencies attract investors who are willing and intelligent enough to accept the change. The change seems to be inevitable in the way the world is progressing.
List of Cryptocurrency Banned Countries
- Qatar
- Bangladesh
- China
- Algeria
- Iraq
- Morocco
- Vietnam