Topic: Bitcoin in legal sense (Read 4565 times)
Just recently, a news article in my country was released saying that bitcoin is dangerous and the author has warned not to invest in it. It was said to be unsafe and lacked security. Once you lose your money in bitcoin, there are no safeguards present to protect you unlike with other investments. Technically, bitcoin is legal in our country. There has been no ban or prohibitions made on bitcoin, not even any restrictions. The only action done by the government were to issue warnings for the public to be wary and cautious.
In so many ways , yes there are .. But in US they don t call that currency but rather property. Here in Philippines, lately Bitcoin are under observation . But due to high demand the government of the Philippines are now ready, to adopt the crypto revolution . In fact there are stores and establishments here now accepting bitcoin and other cryptocurrencies as payment. But still working out and try to legislate law that will protect the government state against fraud by use of cryptocurrency . They should also implement law to take action against money laundering.
In my country it seems the slightest not seen at all there's a depiction of bitcoin will be used as real currency. This is unlikely be happened in my country seems, let alone have a legal sense related to bitcoin.. the country's still banning, if any people using bitcoin as a means of payment, it will be punished.
so pathetic..
so pathetic..
There are countries that have adapted and regulated Bitcoin. In the same vein, there are countries, too, that have not acknowledged its existence in the market. Nevertheless, legally speaking, we come from different countries of jurisdictions hence our laws differ from one another. It may be legal in one State, and illegal in the other. What is worth nothing is the legal presumption that what is not prohibited by laws is legal for all intents and purposes.
This is not always the case. In many countries the police uses completely other reasons for the persecution of bitcoin users and miners. I heard a story about how the police arrested the tower because they thought it was a secret server which is used to spy on people on the Internet. Nonsense of course, but the equipment year was on the examination and returned in working condition. I think it was in Russia.
seems ,bitcoin does not recognized as real currency base on the comment previously posted . BUt look at now bitcoin has done so much on some country that adopt the crypto revolution. We cant really deny that there are some country that until now did not legalized bitcoin in some matter. Just like here in the philippines ,the government are taking their moves for bitcoin legalization but still under debate on how to regulate it . maybe they can regulate this by releasing their official exchanger, Actually there are 2 exchanges that will operate soon . According to central bank of the philippines.. And maybe , why there are other country still not yet legalize bitcoin because of the threat of money laundering and so many cases.
There are countries that have adapted and regulated Bitcoin. In the same vein, there are countries, too, that have not acknowledged its existence in the market. Nevertheless, legally speaking, we come from different countries of jurisdictions hence our laws differ from one another. It may be legal in one State, and illegal in the other. What is worth nothing is the legal presumption that what is not prohibited by laws is legal for all intents and purposes.
It seems to me that differ only in the statements of government officials about bitcoin. At the legislative level in all countries, the bitcoin is not regulated. Under the law gets only a Fiat which we sell coins. The only exceptions are those countries which imposed a total ban on the use of bitcoin. But there are workarounds.
There are countries that have adapted and regulated Bitcoin. In the same vein, there are countries, too, that have not acknowledged its existence in the market. Nevertheless, legally speaking, we come from different countries of jurisdictions hence our laws differ from one another. It may be legal in one State, and illegal in the other. What is worth nothing is the legal presumption that what is not prohibited by laws is legal for all intents and purposes.
I agree no country has made Bitcoin its official currency per say ..but they not do not wish to miss the crypto bandwagon either..
Most countries are trying to roll out their own "official" cryptocurrency
The fact that Microsoft and Apple are carrying out a part of their business transaction in cryptocurrency underlines the statement that we are going to see a lot more action in the cryptospace in near future.
Most countries are trying to roll out their own "official" cryptocurrency
The fact that Microsoft and Apple are carrying out a part of their business transaction in cryptocurrency underlines the statement that we are going to see a lot more action in the cryptospace in near future.
Some government may see bitcoin as criminal money since it's anonymous , every criminal able to use bitcoin to cover up their transaction.
I am fairly sure that they don't think like that. Governments don't like the fact that Bitcoin allows people to enjoy financial freedom because the government then can't control their own people anymore.If you control people's wealth, and make sure the majority of the people only lose in the long term due to this system, and suddenly they have an option to escape from all this, which is what Bitcoin does, governments won't like it.
They will try to make Bitcoin look like a pool full of criminals in an attempt to discourage Bitcoin amongst the average joes. Bitcoin is a major obstacle, and that was clear from the very beginning, but they can't get rid of it.
It's nice that Bitcoin will be legal because no one stop you of using here. You have a freedom to sell or buy Bitcoin. You can also invest and earn money here with no doubt because you can report who steal your money. Bitcoin can help the economy of a country if governments declare this site as a legal.
Some government may see bitcoin as criminal money since it's anonymous , every criminal able to use bitcoin to cover up their transaction.
For me personally since bitcoin being made , it has change people's habit especially when they want to do global transaction that the most demand section !
It's nice that Bitcoin will be legal because no one stop you of using here. You have a freedom to sell or buy Bitcoin. You can also invest and earn money here with no doubt because you can report who steal your money. Bitcoin can help the economy of a country if governments declare this site as a legal.
Some government may see bitcoin as criminal money since it's anonymous , every criminal able to use bitcoin to cover up their transaction.
For me personally since bitcoin being made , it has change people's habit especially when they want to do global transaction that the most demand section !
Only Japan and South Korea legal bitcoin. For my country, my government not yet legalized bitcoin.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
Not only Japan and South Korea if you have missed Malaysia and Australia if I'm not mistaken bitcoin there is already legal and is being supported by the government. By the way, if you don't mind in what country do you live? Also in Philippines bitcoin is also legal as someone posted it here on forum about this news http://www.philstar.com/business/2017/08/19/1730418/bsp-approves-registration-2-bitcoin-exchange-operators
And cheer up that your government will legalized bitcoin, very soon.
It's nice that Bitcoin will be legal because no one stop you of using here. You have a freedom to sell or buy Bitcoin. You can also invest and earn money here with no doubt because you can report who steal your money. Bitcoin can help the economy of a country if governments declare this site as a legal.
Only Japan and South Korea legal bitcoin. For my country, my government not yet legalized bitcoin.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
Not only Japan and South Korea if you have missed Malaysia and Australia if I'm not mistaken bitcoin there is already legal and is being supported by the government. By the way, if you don't mind in what country do you live? Also in Philippines bitcoin is also legal as someone posted it here on forum about this news http://www.philstar.com/business/2017/08/19/1730418/bsp-approves-registration-2-bitcoin-exchange-operators
And cheer up that your government will legalized bitcoin, very soon.
Hi,
Are there countries that accept bitcoin as a real currency?
Do states have legal regulations related to bitcoin?
Thanks
Some try to disallow bitcoin, but none seem to use it as currency officially that I know of. I wish there was more acceptance. Are there countries that accept bitcoin as a real currency?
Do states have legal regulations related to bitcoin?
Thanks
which I know no country receives bitcoin as a real currency, so far no bitcoin in the form of real money. there are some countries that allow bitcoin as a legitimate means of payment like Japan for example, this comes after the new law in Japan that categorizes Bitcoin as a legitimate payment option in the country. This law comes into force on April 2017
Only Japan and South Korea legal bitcoin. For my country, my government not yet legalized bitcoin.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
Not only Japan and South Korea if you have missed Malaysia and Australia if I'm not mistaken bitcoin there is already legal and is being supported by the government. By the way, if you don't mind in what country do you live? Also in Philippines bitcoin is also legal as someone posted it here on forum about this news http://www.philstar.com/business/2017/08/19/1730418/bsp-approves-registration-2-bitcoin-exchange-operators
And cheer up that your government will legalized bitcoin, very soon.
Only Japan and South Korea legal bitcoin. For my country, my government not yet legalized bitcoin.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
I hope someday my government will legalized bitcoin. Because bitcoin can help country in economic side.
Hi,
Are there countries that accept bitcoin as a real currency?
Do states have legal regulations related to bitcoin?
Thanks
My small knowledge , some countries accept bitcoin as a real currency and others have not yet accepted bitcoin. If bitcoin is accepted, states will have bitcoin regulations Are there countries that accept bitcoin as a real currency?
Do states have legal regulations related to bitcoin?
Thanks
Hi,
Are there countries that accept bitcoin as a real currency?
Do states have legal regulations related to bitcoin?
Thanks
Are there countries that accept bitcoin as a real currency?
Do states have legal regulations related to bitcoin?
Thanks
For tax purposes, bitcoin will be classified by different countries in different ways.
The US government considers it as property.
You can start looking at the wikipedia article here and then investigate further.
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
Very useful link.
Just to add up, Japan is the only country that recognizes bitcoin as a sort of payment method and not as a digital asset, some people confuses and say that Japan accepts bitcoin, it is not true, the government sees it as a legal currency but not as a legal tender, they allow shops and stores to accept it and pay the regular taxes, but they do not force them to( as they do to a legal tender currency).
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