In most of the countries, Bitcoin is either officially legal or has legal to trade Bitcoin but only 7 countries banned or canceled Bitcoin and its transactions in that countries. We are living in a country where Bitcoin is illegal.
It really depends on the decisions of government institutions in a country. Legal and illegal decisions are indeed in the government, which is why not all countries have bitcoin legality and some are legally recognizing bitcoin. what needs to be done is support from the public, because when a government gets pressure from the public it can make a different decision. let's support and expand bitcoin together.
Topic: Bitcoin legal and illegal countries - page 5. (Read 5138 times)
In most of the countries, Bitcoin is either officially legal or has legal to trade Bitcoin but only 7 countries banned or canceled Bitcoin and its transactions in that countries. We are living in a country where Bitcoin is illegal.
It really depends on the decisions of government institutions in a country. Legal and illegal decisions are indeed in the government, which is why not all countries have bitcoin legality and some are legally recognizing bitcoin. what needs to be done is support from the public, because when a government gets pressure from the public it can make a different decision. let's support and expand bitcoin together. nice list many countries accepted bitcoin, I hope more countries will follow to legalize bitcoin I know many people want to use bitcoin.
Not that many actually.
In our country, Bitcoin is accepted or legalized by our government. For some people, it is great news but for most of the people, they don't really care since they don't know what is it or how will they use it. Only a few people know what it is and use it the reason I think even though it is legal to use in our country, it is not that popular.
Years back when inflation headed up in Zimbabwe experts came up with a suggestion stating adoption of cryptocurrency could let them get rid of the economic crisis. By that time the acting government wasn't able to make good decisions, but just think of Venezuela. They acted at the right time, making it legal will make them the global head in this regard as few countries have got into legal adoption while rest were expected to follow at the earliest.
I believe that there are much more undecided countries about the bitcoin and altcoin than countries that have made it illegal. And another point is that most of the countries that have made it illegal does not welcome other countries for any deal or partnership with other countries in the first place. In short, they only care about theirselves and closeminded people.
A large portion of the countries you listed are European, and most European countries have an upper limit on financial transactions - beyond which it's illegal to transact via anything but bank wire - and you may be sued for money laundering otherwise.
I suppose it doesn't count if you move your bitcoin between exchanges, but you can't purchase a car/house with bitcoin there.
I suppose it doesn't count if you move your bitcoin between exchanges, but you can't purchase a car/house with bitcoin there.
According to my understanding no country has strictly banned bitcoin with any kind of low but there are some countries like India, Sri Lanka who have gone to extreme extends using media and other sources to avoid there citizens from using bitcoin or any other cryptocurrency because they believe it will make bad effect to there economical system and some has an open mind regarding bitcoin like Japan and Switzerland and the number keeps increasing in the world because now many understands benefits they can gain by using cryptocurrencies
Illegality is caused by fears that it will affect everything that applies in their country, but I believe they are unable to monitor bitcoin users because of too free internet use. But there are indeed things that cannot develop in this country such as public discussions and the development of tiered education regarding crypto assets.it has a big impact because it can also affect prices globally.
Support is necessary because when there is no support, crypto can lose prestige and the price will decrease.
It is a good decision taken by the Central Bank of India to authorize cryptocurrencies which include Bitcoin. I hope the neighbouring countries and allies will follow the same path as Bitcoin and cryptocurrency raise the economic status of the people of India.
giving it a "legal/illegal" tag is pretty difficult. Most places it's regulated according to the financial laws of the country. Some places it's illegal to use to buy goods and services, but it's perfectly legal to buy and exchange the currency.
According to my understanding no country has strictly banned bitcoin with any kind of low but there are some countries like India, Sri Lanka who have gone to extreme extends using media and other sources to avoid there citizens from using bitcoin or any other cryptocurrency because they believe it will make bad effect to there economical system and some has an open mind regarding bitcoin like Japan and Switzerland and the number keeps increasing in the world because now many understands benefits they can gain by using cryptocurrencies
Illegality is caused by fears that it will affect everything that applies in their country, but I believe they are unable to monitor bitcoin users because of too free internet use. But there are indeed things that cannot develop in this country such as public discussions and the development of tiered education regarding crypto assets.
Well, as you can see, the list of countries is mostly not the most developed countries. Except, perhaps, China. But this country can not be called free.
Trends suggest that developed countries such as Sweden, the USA, Germany, Australia and many others only encourage the development of the field of cryptocurrencies.
Other countries in this article, on the contrary, hamper the development of the segment. By the way, Iceland was recently on this list. But in 2017, the government fully restored the rights of traders, repealing all restrictive laws.
Therefore, there are no prerequisites for banning Bitcoin and other cryptocurrencies all over the world. On the contrary, everything suggests that new money will slowly integrate with the mainstream economic system, which will allow a smooth transition into a new world, where coins will also be used along with fiat.
Trends suggest that developed countries such as Sweden, the USA, Germany, Australia and many others only encourage the development of the field of cryptocurrencies.
Other countries in this article, on the contrary, hamper the development of the segment. By the way, Iceland was recently on this list. But in 2017, the government fully restored the rights of traders, repealing all restrictive laws.
Therefore, there are no prerequisites for banning Bitcoin and other cryptocurrencies all over the world. On the contrary, everything suggests that new money will slowly integrate with the mainstream economic system, which will allow a smooth transition into a new world, where coins will also be used along with fiat.
According to my understanding no country has strictly banned bitcoin with any kind of low but there are some countries like India, Sri Lanka who have gone to extreme extends using media and other sources to avoid there citizens from using bitcoin or any other cryptocurrency because they believe it will make bad effect to there economical system and some has an open mind regarding bitcoin like Japan and Switzerland and the number keeps increasing in the world because now many understands benefits they can gain by using cryptocurrencies
Bitcoin is legal in my country, but you cannot use it as a payment currency legally to buy something here.
In my country, i only able to use bitcoin to trading or investing on a cryptocurrency project.
Despite of that limit, i can gain a good profit with a good strategy when trading or investing.
In my country, i only able to use bitcoin to trading or investing on a cryptocurrency project.
Despite of that limit, i can gain a good profit with a good strategy when trading or investing.
I appreciate your research, It is a thing of joy to know that so many countries are not declaring cryptocurrency illegal.
I want to know you get the source information from the beginning? I think your information is inaccurate !
You have a point, the op need to acknowledge the source where he gets this information to convince people that his statement is true and reliable and we can use for any purpose.
before we have to give information about any news we need to examine it first. because every news we give requires our responsibility correctly. so if we get unclear information, it is better if we need to examine it. because the news that was delivered was not just one person who read but many people read it.
I want to know you get the source information from the beginning? I think your information is inaccurate !
You have a point, the op need to acknowledge the source where he gets this information to convince people that his statement is true and reliable and we can use for any purpose.
The United States has one of the best approaches as how to treat Bitcoin from a tax perspective. The government simply views the coins as property and you pay a capital gains tax (unless you live in Puerto Rico) when you sell them. You can still get jail time if you sell them in bulk as an unregulated money exchanger but most people wouldn't fall into that category.
More countries should take this simplistic view on how to tax/regulate Bitcoin and stop thinking of it as a currency.
What is that? I think that considering bitcoin as an asset and starting to apply taxes to the owner is indeed a very good choice for a country, but in reality the owners don't want it, because basically bitcoin is money, so it must be used as a payment tool rather than storing media, if only categorized as assets, the function of bitcoin as a currency will disappear, and the era of the currency revolution will stop, and the world will remain controlled by the dollar as an international currency, and this is a monopoly currency system.More countries should take this simplistic view on how to tax/regulate Bitcoin and stop thinking of it as a currency.
On the other side, its function as a currency as ningrumxxi said will disappear, so as the revolution, but I highly doubt that it can be different on any other way. As you said, current monopoly currency system will remain for now, developers and creators of it are so strong and surely are not willing to let it go.
Of the many countries in the world, only a small percentage prohibit the use of Bitcoin. So it's clear that Bitcoin has great power and many countries support Bitcoin. So I'm sure Bitcoin will grow well and finally Bitcoin will become a national currency that is recognized by all countries.
Does that mean bitcoin has changed its own system from a decentralized system to centralized system?Although these thing will never happen because bitcoin is a technology that cannot be regulated by any party, I just deplore what you have said and what you want. I prefer with bitcoin to be used as an alternative payment system which is only done by everyone in certain circumstances, for example to buy goods in the form of online. In this case the government will not ask for a lot of laden for everyone who uses bitcoin, they only need to be a superintendence to the circulation of bitcoin in every country to maintain economic stability.
Many countries around the world legitimized Bitcoin. Glad dominating of the number of countries, which have legalized Bitcoin. Many people will see, Bitcoin not to be abolished everywhere after looking of the list.
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