The analysis shows that 119 countries and 4 UK overseas territories have approved digital assets

More than half of the world's countries have legalized cryptocurrencies, according to a new report by the analytical platform CoinGecko.

The analysis shows that 119 countries and 4 UK overseas territories have approved digital assets. Thus, more than 60% of the world's countries have legalized cryptocurrencies.

The European region is at the forefront of the adoption process, with 39 out of 41 countries (or 95%) having legalized digital assets. The only exceptions are North Macedonia, where the circulation of crypto assets is prohibited, and Moldova, which has not yet determined their legal status.

In North and South America, 24 countries have legalized cryptocurrencies, which is 77.4% of all countries in the region. Bolivia has officially banned digital assets, while Guatemala, Haiti, Nicaragua, Paraguay, Uruguay, and Guyana have not formed their position on this issue.

Asia showed a similar percentage of cryptocurrency approval. Here, 77.7% of countries have legalized the use of digital assets. The lowest percentage of global legalization was in African countries. Only 38.6% of countries in the region approved the use of these assets.

Analysts note that legalization of cryptocurrencies and final regulation of digital assets are different things. Of the 119 countries mentioned in the report, only 62 (52.1%) have prepared comprehensive legislation on this issue.