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WHY I'M BUYING BITCOIN (and selling Ethereum)Bitcoin is legal in many countries, but some, like India, have banned cryptocurrency completely. As time passes, laws and regulations change, so it is possible. Bitcoin ban: These are the countries where crypto is restricted or illegal � Algeria � Bangladesh � Bolivia � China � Colombia � Egypt � Indonesia. Digital Currency Usage Is Not Inherently Illegal. Individuals and businesses are permitted to use Bitcoin and other similar currencies, although.