More than half of the world’s countries have legalized cryptocurrency, according to a new report from the analytical platform <a href="https://www.coingecko.com/research/publications/crypto-legal-countries" target="_blank" rel="noopener">CoinGecko</a>. 
The analysis showed that digital assets were approved by 119 states and 4 UK overseas territories. Thus, over 60% of countries in the world have legalized cryptocurrencies. 
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At the forefront of the adoption process is the European region, where 39 out of 41 countries (95%) have legalized digital assets. The exceptions were North Macedonia, where the circulation of crypto-assets is prohibited, and Moldova, which has not yet determined its legal status. 
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In the <a href="https://crypto.news/latin-america-crypto-helps-offset-economic-instability/">Americas</a>, 24 countries have legalized cryptocurrencies, accounting for 77.4% of all countries in the region. Bolivia has officially banned digital assets, while Guatemala, Haiti, Nicaragua, Paraguay, Uruguay, and Guyana have not taken a position on this issue. 
Asia showed a similar percentage of approval of cryptocurrencies. Here, 77.7% of countries have legalized the use of digital assets. The smallest percentage of global legalization occurred in African states. Only 38.6% of countries in the region approved the use of these assets. 
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Analysts note that the legalization of cryptocurrencies and the final regulation of digital assets are two different things. Of the 119 countries mentioned in the report, only 62 (52.1%) have prepared comprehensive legislation on this issue. 
Compared to 2018, the number of states that provided legislative regulation of cryptocurrencies increased by 53.2%. 
Of the 62 countries leading the way in implementing digital asset laws, 38 are individual states outside the blocs, and 22 are part of the <a href="https://crypto.news/chainalysis-central-northern-and-western-europe-reported-to-be-second-largest-crypto-economy-this-year/">European Union</a>. The remaining four are British overseas territories. 
CoinGecko experts note that half of the countries that have legalized cryptocurrencies have not implemented a reliable regulatory framework. This raises potential concerns about investor protection and a lack of clarity for businesses operating in the industry, analysts said. 
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CoinGecko reveals that over half of countries globally have legalized crypto assets

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