A lot of countries cracked down on merchants accepting bitcoin, and in a lot of places it's illegal to offer BTC->cash conversions without KYC.

I suspect authoritarian regimes would be the first to close this loophole. This is not theoretical - Russia did this in 2022 to stop people from offloading their rubles and/or fleeing the country with their money.

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kikimora 2 days ago | parent | next [-]

As a Russian I can attest - you can do crypto in Russia and it is one of a very few ways many friends of mine support their families from abroad.

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torginus a day ago | parent [-]

And what's the legal status of crypto nowadays for individuals?

	▲	kikimora a day ago \| parent [-]
		Crypto is qualified as property and regulated in a very similar way. There is a market for borrowing using tokens regulated by digital assets act (цифровые финансовые активы).

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mizzao 2 days ago | parent | prev [-]

Yep, it's highly illegal to use crypto in China