Topic: Bitcoin legal and illegal countries - page 2. (Read 5155 times)

Bitcoin is illegal in Bangladesh but in this month i see this article https://www.thedailystar.net/bytes/world-first-blockchain-smartphone-be-launched-in-bangladesh-1797703
Here i found Switzerland based Sirin Lab's will be launched world first blockchain smartphone in BD. Even in the running years Bangladesh National Budget, Government interested to work with Blockchain platform and good amount dollar already reserved for that. I think this is very positive thing.              

Yes, Why not put China, Russia, Sweden, Thailand, Iceland, and India among the cancellation list?
Based on the information found on ccn.com (popularly known as CryptoCoinNews) these countries all banned the use of bitcoin openly.

CCN | https://www.ccn.com/top-10-countries-bitcoin-banned/

I hate this kind of thinking to be honest. The Government should be the one who is flexible or open minded when it comes to new things in the modern world, but what's happening for most of the Government is they are doubting bitcoin even though they don't know the whole story about it. First impressions are always wrong, so I'm always wondering when will be the time where all of the Government will have the same mindset like Japan and other countries who legalized bitcoin and implemented it to be use in every day living.


Government here in our country in narrowminded to ignore such gorgeous inventions like Bitcoin. It is sad, how government concluded already that cryptocurrency is not safe because of the majority saying it is just a scam, I pity their poor souls and small brains.

Bangladesh government decides to open the door for the Blockchain within next year. The PM already announced it. It seems in Bangladesh, Cryptocurrency will be regulated, but still, this is very good news. I believe soon or later, all countries will accept cryptocurrency and they will adopt with Blockchain technology.

Our country faced plenty of issues regarding crypto but it just lasted for a few months, the government before were trying to have a hold on bitcoin but now, after the sudden downfall of its price, they are back to ignoring the existence of crypto. I actually like it that way but I am worried that when bitcoin's price comes back up, the government would again start giving regulations on it.

ok, I'm living in Kyrgyzstan, the country banned bitcoin..
so what? there is no change for me like before and after the ban. I can sell and buy bitcoins through the same channels as before..
so how was is said  : the strictness of the laws is compensated by the non-binding nature of their execution 

Can you please share us the source of this, Our country is indeed in the list to get legitimacy but I still want to know the source.

The same in our country, government is not against bitcoin, they focus more on major problems than spending money to stop bitcoin from circulating in our country. They just make a few announcement to aware the public from investment scam.

Its regulated in theory, and you are supposed to use a State approved exchange (which nobody does). I suppose the idea is that these exchanges are taxed.

Petro is separate, completely government controlled. You can sell your crypto for Petros, and they do require KYC.

You say we use Petro but that is not true, almost no one uses crypto of any sort, very rarely you see a shop or two accept bitcoin, dash or ethereum, but that's like 1 in a million.

The reason for hyperinflation is the old fashioned State abuse and manipulation of the currency. "Printing like there is no tomorrow" basically, and blaming anybody else, especially the "Evil American Empire", because that's the preferred rhetoric here (and yes, they use those words literally, to refer to the USA).

Truth of the matter is they ran out of money to keep paying wages and such and resorted to this. Sounds idiotic? It is. It became apparent in 2014, everyone warned Maduro but he didn't care and did it anyway. Not unlike Mugabe, with identical results. Some people act like that after they taste power, and they think they can control human nature by force, including the market, which they believe shouldn't be free but State controlled.

In the middle of this someone sold them the idea to make a token as a means to catch money, as many countries were refusing to give any more loans due to Venezuela being unable to pay back with anything but oil, and that production has reduced to a third of what it used to be a couple of decades ago (again, serious mismanagement). They did in fact manage to catch some money, which was wasted and probably used to fill their pockets as usual, the country is worse than ever, and Petro did nothing. You cannot compare it with Bitcoin, which indeed some people use for survival.

Bitcoin is not illegal and never was, not even before the gov got involved, but like in Ukraine authorities here abused the lack of legislation to extort, kidnap and ransom miners. Things changed a bit in the last two years but also this year the electric grid collapsed due to dire lack of maintenance and mass quitting of underpaid workers (and its a "State Socialist company", go figure).

And yes, there are rumors some of the gov people actually mine themselves, they have shown "someone's" mining farm before on State TV. With most of the country having frequent (and in many places long) blackouts, brownouts, and several short interruptions, pretty much guaranteed to burn anything you plug without some sort of delay line conditioning protection.

In the past it was possible that only a few countries had legalized this digital currency, because in some countries it still had a very large polemic to legalize it, so for that reason Bitcoin was not widely used, but for now, in several countries that had legalize Bitcoin as a digital currency, like in the United States, Japan, Denmark, Russia, Korea, Finland, their countries have legalized it, and there are also some countries that still make illegal Bitcoin such as Algeria, Bangladesh, Bolivia, China, Ecuador, India , Vietnam, Nepal.

Good thing that our country is not against crypto and even some merchants are accepting cryptocurrency as a mode of payment which is really convenient. Our government is just making the public cautious in investing money since there are other people who are attracting newbies thru ponzi scheme. I hopr more and more countries would start adopting crypto.

In Croatia we already have rules how to pay taxes on the profit from crypto trade, we can exchange crypto in the Croatian ost (stated owned company) can pay to some merchants with bitcoin etc.
So, even there is no specific law about bitcoin or crypto, it's fully legal to use bitcoin everywhere. 

Actually it is very difficult for every country to legalize bitcoin as a means of payment, and these countries do not want to destroy their currencies that they have long applied, but from most countries only use systems used by bitcoin, such as blockchain technology because there are so many countries that have used this technology, in accordance with the needs of consumers and technology that has been very advanced, maybe only some countries have legalized bitcoin as a medium of exchange or payment instrument ..

Until now there are countries who are still didn't want the cryptocurrency to pass in their places even though it can help their country to be more rich. I wonder if the reason is because of the people who uses bitcoin to buy unnecessary things and use it for gambling.

indian crypto traders and Indian policy makers are trying hard to made bitcoin and crypot currencies legal in india which may happen soon with new draft proposed to crypto friendly by some of the news makers

Venezuela airports use cryptocurrency already. To avoid sanctions, even the government uses Bitcoin. I do not even mention people, who hurry up to exchange their hyper-inflated money to BTC or dollars (here, everything depends on the preferences). Some ex-Soviet countries that reject crypto would have to accept it finally, as people really need it much.

I think Petro has already been used by Venezuela in more than a year. This was their response to a spiraling value of their Bolivar, which they highly think as a result of subtle interference by western countries, particularly the United States. Right now, with a very high inflation and Bolivar almost left valueless, the rise of Bitcoin is apparent. Venezuela should be listed together with countries where Bitcoin is considered legal.

Your post was very interesting and then I checked and found out that you are from Venezuela.

What you are saying is correct. The national currency has got so much devalued, that it is now worth less than Satoshi. I am not very familiar with the legal status of cryptocurrency in Venezuela. I don't think that they have banned it in anyway. However I heard that they wanted to create their own crypto, named "Petro". So similar to many other countries, the legal status can be defined as grey (undefined). They haven't jailed anyone for using Bitcoin yet. So be cool and continue to use Bitcoin.

Yes, that is a barrier but if Indonesia has a channel to convert OTC to national currencies, it will be a way to motivate people to own Bitcoin and other currencies. For other travelers it is extremely inconvenient because it takes them time to convert to another currency. Hopefully the future has a kind of wallet that could allow the conversion of Bitcoin and crypto types into national currencies.

Many countries in this list are in the same (neutral) position. technically not illegal, but still not embraced, or adopted. I can tell you the people from the central bank of one of the countries mentioned in the "legal" list don't like Bitcoin. That country is actually neutral, but they have an exchange "control" that you could technically violate using bitcoin (and several people do that). Unattended, this could lead to illegalization due to politicians being ignorant and fearful that their pretty "controls" are getting ruined (people out there that condemn the free market) by evil Bitcoin.

And my country isn't even listed which is even more hilarious, but lets ignore mine, satoshis are now worth more than our fiat anyway.

Countries such as Indonesia and Nigeria hasn't taken a hostile stance towards Bitcoin (unlike the case with China and India). They are likely to wait for sometime before finalizing the strategy. I am not very excited about the future prospects of Bitcoin in third world nations, because most of these governments are not going to be comfortable with a decentralized quasi-anonymous currency.

The stance taken by the US government is going to set a precedent. As of now, it is 100% legal to own and trade Bitcoins in the United States. However, the recent statements by Donald Trump indicates a possibility that the government may take a more hostile stance.