Cryptocurrencies function very differently from traditional money such as dollars, euros, or rupees. They are decentralised, digital, and global, with no central authority responsible for issuing or controlling them. New units of cryptocurrency, called coins, are created through mining, a process that once required only a home computer but has become far more complex and competitive by 2022.
The legal status of cryptocurrency varies widely across the world. Some countries fully permit crypto use and trading, others impose partial restrictions, and a few prohibit it entirely. The term “Alegal” applies to countries where laws neither approve nor prohibit crypto, leaving it legal by default. Because regulations continue to evolve, individuals are advised to verify the latest rules with local authorities. For those who travel across the world, crypto works much like global travel rules, while accepted freely in some countries, restricted in some, and undefined in many. Knowing these rules helps travellers understand where they can actually use these currencies for shopping if they choose to.
Below are 10 countries where cryptocurrency is legal, based on NewHedge data as of 5 February 2025. (Data sourced from World Population Review)
