As of early 2022, more than 40 countries are in favor of banning or partially restricting the use of digital assets. This is due to the threat of disrupting the established financial system.
In addition, one of the reasons for the ban is the difficulty of monitoring the income of citizens who use coins.If this trend continues, more countries will soon apply sanctions in the form of administrative or criminal liability for transactions with cryptocurrencies.
Investing in digital assets, using them to pay for services, trading and hoarding could fall under the ban.
However, as we can see from the China example, the ban may not be effective. A recent anonymous survey showed that citizens of the Middle Kingdom continue to conduct transactions with digital coins. For this purpose, they use VPNs, as well as use the services of illegal account verification on exchanges.
