I do not know news media around the world, but for my country, local exchange supports bitcoin users in a fairly easy way to sell bitcoins to local money and vice versa.
Although the bitcoin legality in my country is still in the gray area but the government provides space for bitcoin users, yet each user is personally responsible for the use of bitcoin.
Topic: Is it legal to sell bitcoin for cash ? - page 23. (Read 26809 times)
If the deal appears cash then the transaction can't be traced. Therefore, you should not wonder it is legal or not. In most States, the appeal of cryptocurrency in General is not regulated so you can easily sell not only for cash but also to get Fiat to your Bank account. This situation will not be forever so enjoy the moment of uncertainty while you can and enjoy.
In the country where i live selling bitcoin in cash it can't yet be said a legal, but it's not banned by the government.. it's just that the country will not be responsible if bitcoin users who selling bitcoin in cash get a risky or loss, the government said it's the risks are borne alone. Well it seems neutrality bitcoin in the country where i live, there is no certainty but not banned. If viewed by me with logic, i think it's legal but maybe if that's activity violate governments law, it can be illegally i guess.
i think its not illegal to sell bitcoin for cash because as far as i know, only china that want to ban bitcoin but i don't know if its true or not. as long as there is no regulation that said bitcoin is illegal then we can sell it to anyone. beside that, i think it will more safety if we can sell it to local seller or localbitcoin because we only send our account number to the seller and then the seller transfer the money to our account and it looks like its a gift from our brother or friend. and beside that, i think we should avoid to withdraw in big amount because it will look suspicious for the government and we might be pay the taxes or else if the amount is big.
It seems there is no rule made to exchange bitcoin into money because I have not received accurate information but different from china, so there is no prohibition of people to exchange bitcoin into money.
i think its not illegal to sell bitcoin for cash because as far as i know, only china that want to ban bitcoin but i don't know if its true or not. as long as there is no regulation that said bitcoin is illegal then we can sell it to anyone. beside that, i think it will more safety if we can sell it to local seller or localbitcoin because we only send our account number to the seller and then the seller transfer the money to our account and it looks like its a gift from our brother or friend. and beside that, i think we should avoid to withdraw in big amount because it will look suspicious for the government and we might be pay the taxes or else if the amount is big.
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.
Thanks for reading.
Thanks for reading.
no bit coins selling and buying is not legal. it depends on bit coins law and your country rules. no one can prohibited this bit coins. in some country's it is legal but in some country's it is illegal. up to now some country people don't no about bit coins. so bit coin has more demand present.if you are earning money in your business legal so it is nothing to worry to convert in to bit coins
If the country is not directly prohibited from crypto currency, then exchanging it for cash will not be a violation and such actions will be permissible. However, the question of legality is another matter. Such actions will be legal if they are settled by the legislation of this country.
It is depend bitcoin out of the law in your country or not. In most countries, this is legal.
I would be more afraid for the reliability of the person whom you will sell. It's worth to protect yourself.
I would be more afraid for the reliability of the person whom you will sell. It's worth to protect yourself.
I see nothing illegal in such transactions. Moreover such transactions are impossible to track. Bitcoin itself is anonymous and the turnover of cash Fiat is also not controlled. Don't understand the reason for your concern.
I think it depends on your country it is legal in most of the country I think,
For example in the Philippines if we want to sell our bitcoin we do have our local wallet to do it.
For example in the Philippines if we want to sell our bitcoin we do have our local wallet to do it.
Correct, that's why we are very lucky that the Philippines is very supportive of crypto currency. And it somewhat legal for us to convert our bitcoin to fiat because we have our exchanges that will easily do that for us. (coins.ph).
As for other less fortunate countries, I would say it depends. Some countries have a hard line stance against any crypto so its really hard for them to move their bitcoin to cash. Some countries says its commodity, others don't like it at all. So you have to check your Central Bank if they have laws that covered crypto-currency just to be in the safe side. Otherwise, sooner or later authorities will gonna catch up on you and we don't know what will be the penalties.
There is no rules or regulation in my country about crypto currency trading.
So it is not legal or it is not illegal.
So it is not legal or it is not illegal.
I was thinking of selling my bitcoins for cash. Is it perfectly legal to do so ? Amount is close to 3-4K.
Thanks for reading.
Thanks for reading.
it is Depend on your country But you can Exchange it to payeer or payoneer or paypal or credit cards and then into cash
Does anybody know about this situation in Bangladesh? Is it illegal to participate in ICO? And what consequences will be?
As long as your pay taxes on Bitcoin then it is always legal but in some countries, the government will set some rules about the transaction limits. If we reach more than that we have to pay taxes to the government otherwise Bitcoin exchanging is always illegal.
I disagree with you. Everything that is not explicitly forbidden is allowed. Therefore, any bitcoin transactions are legitimate. There are only some countries where bitcoin is forbidden. In my country the use of bitcoin is not regulated but if you change bitcoins to Fiat, you will immediately get under the tax laws. Withholding taxes with Fiat is a crime.
As long as your pay taxes on Bitcoin then it is always legal but in some countries, the government will set some rules about the transaction limits. If we reach more than that we have to pay taxes to the government otherwise Bitcoin exchanging is always illegal.
I think it depends on your country it is legal in most of the country I think,
For example in the Philippines if we want to sell our bitcoin we do have our local wallet to do it.
For example in the Philippines if we want to sell our bitcoin we do have our local wallet to do it.
If the state has not directly established a ban on selling bitcoins for cash, and as far as I know, there is no such country in any country, then you can not be afraid to sell bitcoins for cash. At the same time, it is possible to speak about the legality of such a transaction only if the state legally recognizes crypto currency as a means of payment.
Totally depends on country and its law status on bitcoin.
Even if btc is not taken into consideration as a currency or similar there are still possible other scenarios because as example btc can be equal to asset or usual goods and when you are selling smth for profit you might have to pay taxes. Continuous transactions can be considered as a business. In some countries you have to pay taxes even for one single transaction if its profit exceeds some amount set by your gov/tax institutions.
Even if btc is not taken into consideration as a currency or similar there are still possible other scenarios because as example btc can be equal to asset or usual goods and when you are selling smth for profit you might have to pay taxes. Continuous transactions can be considered as a business. In some countries you have to pay taxes even for one single transaction if its profit exceeds some amount set by your gov/tax institutions.
Hi! The question on hand is subjective and therefore varies from one jurisdiction to another.
As to our country, as long as it is not prohibited by our criminal laws and special laws, it is legal for all intents and purposes. As for your question, selling Bitcoin for cash is not expressly nor impliedly prohibited by our criminal laws and special laws. Thus, such transaction is considered legal for whatever purposes it may serve them.
Legality is closely linked to the country of origin, and hence must be supposed to exist by virtue of culture, norms, religion and etc.
As to our country, as long as it is not prohibited by our criminal laws and special laws, it is legal for all intents and purposes. As for your question, selling Bitcoin for cash is not expressly nor impliedly prohibited by our criminal laws and special laws. Thus, such transaction is considered legal for whatever purposes it may serve them.
Legality is closely linked to the country of origin, and hence must be supposed to exist by virtue of culture, norms, religion and etc.
many countries don't believe in coins and they do nothing for them
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