Are there countries where cryptocurrency is illegal?

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Yes, some countries, such as China and Algeria, have banned cryptocurrency trading or use. In Bangladesh, cryptocurrency is illegal, and transactions are deemed criminal offenses, punishable by fines or imprisonment. Nepal’s Foreign Exchange Act outlaws all cryptocurrency exchanges and trading activities. In Egypt, the central bank bans financial institutions from processing crypto payments, effectively prohibiting their use. Meanwhile, Morocco’s foreign exchange authority warns against cryptocurrency and blocks related transactions. Check your local laws before engaging in any crypto activities.