The regulatory crackdown on cryptocurrency is gaining momentum, as ten countries impose strict restrictions or bans on digital assets. China, Russia, and Iraq are among the nations that cite concerns over financial stability, fraud prevention, and economic control as reasons for their hard stance on crypto transactions. Despite these measures, underground trading and peer-to-peer transactions remain rampant, making enforcement a persistent challenge. Some countries, like China and Iraq, have completely banned cryptocurrency, while others, like Russia and Egypt, have opted for stringent regulations. Afghanistan, under Taliban rule, has taken an aggressive approach with a cryptocurrency ban and harsh enforcement. Several African and South Asian nations have also reinforced restrictions, with some maintaining complete bans. However, Bolivia has taken a different approach by reversing its ban on cryptocurrency and allowing regulated financial institutions to process crypto transactions. This decision signals a potential shift towards regulation rather than prohibition in how some governments approach cryptocurrency.



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