This is a questions that I come across from new users from different countries whenever I have interacted with them on different platforms around cryptocurrencies. They are unsure about it. The fact is that a simple wiki link describes in good detail where cryptocurrency is legal or if it's not.
The general outlook on cryptocurrencies is quite positive in many nations including USA, Canada, many EU nations as well countries in the South America, South East Asia. However, it's not the same in India even though cryptos are not illegal here.
So far the government and it's agencies have been somewhat hostile in their approach. Infact a PIL was also filed around the time of the bull run to ban cryptocurrencies as well as seeking their legality.
Many developing countries today are opening up to the possibilities while many of the so called developed countries have some policy in place that allows this parallel digital economy to function and perhaps even flourish in some cases.
If you are keen to learn more about the legal aspect of cryptocurrencies you can start with the wikipedia link and then dive deeper to understand what the governments in your country are doing.
For governments to ban something like they need to figure out how they can enforce such a ban. Therefore, I'm not expecting anything as radical in India. However, i'm not sure about all other economies where the government is on the fence with this.
Feel free to share your thoughts about this from the perspective of your country's economy in the comments below.
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