Topic: Is Bitcoin legal - page 16. (Read 1223 times)
This has been a subtle question asked by many, is bitcoin really legal. For me the legality of bitcoin by countries will be determine by the faith the government of the countries of the world have on the traceeability of the transaction done on the blockchain. For now bitcoin and cryptocurrency generally are decentralized in nature and this makes the traceeability of the transaction done almost impossible. The implications is that this could easily becomes a platform for funding terrorism, money laundering etc. This no doubt as makes many government of the world not to accept bitcoin as a legal entity. However there is increase agitation for regulations to be introduced and when that is fully implemented , then bitcoin will easily be adopted as a legal tender.
To the best of my knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Most common illegal activity that may involve the use of bitcoin is gambling. Online gambling is one of the most popular thing in virtual world. Because bitcoin is virtual currency, it is easier to use and transact in gambling using it.
To the best of my knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
It is really hard to pinpoint what kind of illegal activities involved in Bitcoin. One thing I know is, movies were made that crime money transactions were passed through blockchain in form of Bitcoin. But I did not know whether it can be done in real life. For me, Bitcoin cannot be used on illegal activities that's why it is not in legislative jurisdiction where it was cited as it is.
This is a subjective talk. Some goverments declare it is illegal some one declares legal and creates regulations for BTC. But in near future most of them will accept crypto world and also BTC. Cause BTC dominates crypto market
It depends on the government on how they interpret bitcoin sometimes they declared that bitcoin is illegal but others said it is ok or legal. The country government decides if they accept bitcoin or not because if not they banned bitcoin and saying that it was illegal and it was happening here in my country before but now it was already legalize.
Well bitcoin being legal or illegal depends on whicb country you are living in. In some countriea it is legal, in some it is not and some countries are still deciding what to do.
About illegal activities, bitcoin had been used and maybe is being used for various illegal activities on the dark web. It's hard to trace transactions are the reason it is used for such activities.
About illegal activities, bitcoin had been used and maybe is being used for various illegal activities on the dark web. It's hard to trace transactions are the reason it is used for such activities.
The Government and banks have called it and illegal investment,this because bitcoin is a decentralized platform where the Government can not monitor
You can't generalize bitcoin's legality as it differs from country to country just like what you've said. Some considers it legal tender, others don't acknowledge it and the rest are just neutral about the said cryptocurrency. Use case as of this current time is limited to being a speculative asset and a form of payment, though the latter isn't evidently being practiced as there are only a few merchants and services who accept it as a payment.
Bitcoin is being used in illicit activities as early as 2012 if I'm not mistaken, usually by drug dealers on the now-defunct Silk Road and other types of services and contrabands in the said black market. It's also one of the reasons why some governments can't simply just accept it, simoly because they see that money laundering and illegal deals can use bitcoin as their medium which is already hard to trace.
Bitcoin is being used in illicit activities as early as 2012 if I'm not mistaken, usually by drug dealers on the now-defunct Silk Road and other types of services and contrabands in the said black market. It's also one of the reasons why some governments can't simply just accept it, simoly because they see that money laundering and illegal deals can use bitcoin as their medium which is already hard to trace.
Bitcoin is money and money can be used for both good and bad things. Same goes for Bitcoin, it can be used to fund charities which is one of the most noble gestures anyone can do and can be used up to the worst things which I am not saying it here but I am sure many of you can imagine what I am referring too. It all depends on the user if it is used for good or if it used for bad.
That is why we have many different stances on bitcoin from many different countries, for some is legal and for some it is not.
That is why we have many different stances on bitcoin from many different countries, for some is legal and for some it is not.
Bitcoin can be used for example for the same types of activities that can be used with fiat money. It is stupid, fiat money then also must be banned, they are used for terrorism and drugs
Very few countries have gone as far as to declare bitcoin illegal. So far, only Japan has declared bitcoin as legal. However, just because something isn't legal, does not mean that it cannot be used for payment.
Bitcoin and other cryptos are not "severely banned " in Russia. Only payments with BTC are prohibited. And Russian crypto legislation (including mining) will be provided to the 1st July 2018. If you have any questions - please ask)
bitcoin is not a currency of any individual country or unit,because, its a virtual coin which is applied in almost everywhere in online world.some countries stopped the transaction of bitcoin because, they are afraid about the success of bitcoin.but, people all over the world accepted bitcoin as money easily..lots of companies are involving with btc day by day.it is now best currency.i think, bitcoin can be used for anything but, the value will be counted as his or her won currency.
Is Bitcoin legal
Legal or not its a ver interesting question. Its need time to know about this. I think yes
To the best of my knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Bitcoin is used for both legal and illegal activities. why many countries are not accepting Bitcoins means this is the reason it is more used for Illegal activities like Funding terrorist activities, money laundering, drugs dealing etc.
Legality of Bitcoin is still a big question.Legality of Bitcoin varies from country to country.For example Bitcoin is legal in Canada,United states, South Africa and is illegal in the countries like Bangladesh,China etc.Many countries are not declaring Bitcoin as legal because of it's decentralized nature.Due to it's decentralized nature no government or bank is able to track the Bitcoin transactions which make this transactions anonymous.Due to this anonymity many people use Bitcoin for illegal dealings such as drug dealing or ammunition dealing. Bitcoin is not able to gain the amount of trust fiat has that's why it is still illegal in many countries.
only in certain countries bitcoin in legalkan.
To the best of my knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system.
But have you come to think of it... Whether Bitcoin can be used for illegal Activities...
What are some ways you think it can be used for? (illegal Activities) mention some.
Some countries have declared it legal others haven't decided.
As long as it is not declared illegal bitcoin is okay in a certain country.
More and more regulations are now being implemented in cryptocurrency. This can make bitcoin be really approved by the government. When they implement new rules it will help in the long run the cryptomarket.
Though bitcoin or any other crypto can still be used in illegal activities. Such as trading money that is gained illegally or scamming some people.
More and more regulations are now being implemented in cryptocurrency. This can make bitcoin be really approved by the government. When they implement new rules it will help in the long run the cryptomarket.
Though bitcoin or any other crypto can still be used in illegal activities. Such as trading money that is gained illegally or scamming some people.
Bitcoin is in the raise of getting popular on more countries
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