As of August 2019, all countries, except Namibia, Algeria, Bolivia, Iraq, Morocco, Nepal, Pakistan, the United Arab Emirates, and Vietnam, allows its citizens to hold bitcoin. From the perspective of the regulator, Bitcoin has come a long way in the past decade. Bitcoin has changed its name from the dirty money used by cybercriminal to an asset recognized by the International Monetary Fund, members of US Congress and Wall Street elites.
In China, Bitcoin is legally regarded as digital property by the Chinese court. Even in Iran, Bitcoin mining is now a legal industry. It is also legal to own and use bitcoin in Canada, the United States, and the European Union.
Some countries have created a specific legal framework for companies that want to operate cryptocurrency transactions. It includes Japan, Malta, the Philippines, and Thailand.