where is Bitcoin rendered illegal? Central Bank Digital Currency (CBDC)?

<Personal note: while we can make (or lose) money from various assets, cryptocurrency trading remains volatile and speculative in nature.  Let us do our own due diligence #DOODD before trading.  Let us not leverage and only use money that we can afford to lose.>

List of countries where Bitcoin $BTC is illegal:

(Source)

where would we run into a roadblock for Bitcoin or Crypto?

Countries Where Bitcoin Is Illegal

While Bitcoin is welcomed in many parts of the world, several countries are wary of its volatility and decentralized nature. Some also perceive it as a threat to their current monetary systems while being concerned about its use to support illicit activities like drug trafficking, money laundering, and terrorism. Several nations have outright banned digital currency, while others have tried to cut off any banking and financial system support essential for its trading and use.

Countries With Implicit Bans

The Library of Congress identified 42 countries with implicit bans on certain cryptocurrency uses in its November 2021 update. Some of the countries it lists are:

• Bahrain
• Burundi
• Cameroon
• Central African Republic
• Gabon
• Georgia
• Guyana
• Kuwait
• Lesotho
• Libya
• Macao
• Maldives
• Vietnam
• Zimbabwe

Countries With Absolute Bans

The Library of Congress identified nine countries with absolute bans on cryptocurrency in November 2021:

• Algeria
• Bangladesh
• China
• Egypt
• Iraq
• Morocco
• Nepal
• Qatar
• Tunisia

Central Bank Digital Currency

The number of countries that consider developing their own central bank digital currency (CBDC) has more than doubled since May 2020.

Extract from Investopedia article:

A central bank digital currency (CBDC) is a digital form of cash issued by a nation's central bank. Digital forms of currency are already widely used today. When you swipe your debit or credit card instead of using cash, or when you are paid via direct deposit, the associated financial institution must digitally record the transaction and update your account balance.

A CBDC would support systems already established by private financial institutions by issuing a digital fiat currency that has the full backing of a central bank. In most countries, the only type of central bank money available to the public are physical bank notes.

Interest in CBDCs has skyrocketed in recent years. According to the Atlantic Council—an independent think tank headquartered in Washington, D.C.—a total of 87 countries are exploring issuing a CBDC as of March 2022. Less than two years prior, in May 2020, just 35 countries were considering a CBDC

Will CBDC become a threat to cryptocurrency?

As cash transactions become increasingly rare and more countries evaluate the benefits of digital currency, the number of central banks issuing digital fiat will only increase.  Will CBDC put cryptocurrency at risk?