Answer: 9 Countries have banned cryptocurrency (China, Egypt, Iraq, Qatar, Oman, Morocco, Algeria, Tunisia, and Bangladesh)

Questions:

• Why do you think some countries are making cryptocurrency illegal?
• What are some of the negative impacts of cryptocurrency mining? How can they be avoided?
• Do you think cryptocurrency investment will increase, stay the same, or decrease in the future? Why? 

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (National Law Review): 

"China has been incredibly influential in the modern cryptocurrency debate around energy use. For several years, China was the cryptocurrency mining capital of the world, providing an average of two-thirds of the world’s processing power dedicated to Bitcoin mining through early 2021. In June 2021, however, China banned all domestic cryptocurrency mining operations, citing the environmental impacts of Bitcoin mining energy demands among its concerns.

With some countries experiencing negative impacts from cryptocurrency mining operations, several countries have followed China’s lead in banning cryptocurrencies. According to a 2021 report prepared by the Law Library of Congress, at least eight other countries – Egypt, Iraq, Qatar, Oman, Morocco, Algeria, Tunisia, and Bangladesh – have banned cryptocurrencies. Many other countries have impliedly banned cryptocurrency or cryptocurrency exchanges, as well."

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.

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