Not Yet Legal But Not Banned - page 9.

Btc_1856

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Quote from: Granxis on April 05, 2018, 09:14:54 AM

Quote from: futureofeth on April 03, 2018, 11:40:40 AM

Bitcoin is recognized by only a few countries but fully not legalized by them. There are huge changes in coming days bitcoin maybe legal tender in most of the countries.

Bitcoin will harm countries with economic worries, and countries with liberal economic policies will benefit economically. Money is like water, always has fluidity.

Bitcoin will not harm the country, it is improving the technology behind the Bitcoin. If they don't accept Bitcoin as legal tender then why governments are using the technology behind it, government don't want to benefit the people by making money. Really dirty politics.

butcherme

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Quote from: iamTom123 on July 03, 2017, 11:25:47 AM

Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.

However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.

For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.

Same thing in our country, bitcoin is not really widely accepted, but it is not banned. We can actually freely use our bitcoin and convert it to fiat via bank or remittance services. Crypto has caught our central banks attention and now they are starting to regulate it but in a good way.

Granxis

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Quote from: futureofeth on April 03, 2018, 11:40:40 AM

Bitcoin is recognized by only a few countries but fully not legalized by them. There are huge changes in coming days bitcoin maybe legal tender in most of the countries.

Bitcoin will harm countries with economic worries, and countries with liberal economic policies will benefit economically. Money is like water, always has fluidity.

beej

full member

Activity: 476

Merit: 108

Quote from: futureofeth on March 07, 2018, 06:04:56 AM

That is the actual situation we are facing still, governments are not taking any action on banning and yet it is not legal. It will take some time for them to make legal because it needs lot of documentation in order to get legalize because Bitcoin is not restricted to one country.

It's the same in my country, though there isn't much progress and updates with the
government's position and take on bitcoins and other cryptocurrencies. They're not
banning it, in fact there's utilization and applications that caters to it like remittances
and a convenient way to buy, convert and cash out on bitcoins. Though service fees
vary with amounts, but it's here and people use and benefit from it. Maybe the
government is just too busy attending matters more important or just waiting for
something that might trigger it to act and impose some form of regulatory law or
legislative process.

paresh nakar

newbie

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government of india crypto-currency is legal but bitcoin is banned the problem is financial advisers in many of third world nations behind bitcoin.

jaocoincrypto18

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Quote from: iamTom123 on July 03, 2017, 11:25:47 AM

Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.

However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.

For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.

Indeed, that we should not miss this opportunity that we could earn much Bitcoin without tax because sooner or later if the government will regulate it, for sure our profit will reduce due to taxation. Here in my country in which Bitcoin is also is not legal but not ban that we earned a lot because our government right now is very busy of their political careers in which they don't mind about the existence of Bitcoin in our country and that is very fine for us for now. Grin

gogrowglow

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One country cannot legalized nor illegalized cryptocurrency simply because the government don't have control of it, it is decentralized. They cannot banned it also because they have now way to do it. For now let us just enjoy the benefits of Bitcoin and not paying any tax for it.

Mamoot

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Activity: 490

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Quote from: iamTom123 on July 03, 2017, 11:25:47 AM

Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.

However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.

For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.

yes I agree with you, as long as not prohibited yes just enjoy it, while lucky for us.

futureofeth

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Bitcoin is recognized by only a few countries but fully not legalized by them. There are huge changes in coming days bitcoin maybe legal tender in most of the countries.

8Habits

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Quote from: arthur25 on April 02, 2018, 04:45:07 AM

Bitcoin is recognized by the country but not totally legal in one country. It is also depends on what country for some country made btc as legal. Legalization of cryptocurrency in the country is another way of accepting the facts that change will come in with cryptocurrency era inside the country.

Right legalizing the use of bitcoin is a good signal how awesome bitcoin concept is with regards to investing and uses for utility (where are not yet there though in terms of using bitcoin for utility). However, I think bitcoin is alright even without legalizing and recognizing it because it is really a revolutionary invention to free from the control of the government and third-party financial institutions like the banks.

sundul

newbie

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I'm also a little bit surprised, though Bitcoin has not been legalized in many countries Bitcoin is not banned in those countries. Yes for example in my own country. Bitcoin status is still not legal but it is still allowed to use Bitcoin as an investment asset but not allowed as a transaction tool. The government may actually want to legalize Bitcoin, but many factors are considered.

arthur25

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Bitcoin is recognized by the country but not totally legal in one country. It is also depends on what country for some country made btc as legal. Legalization of cryptocurrency in the country is another way of accepting the facts that change will come in with cryptocurrency era inside the country.

tambok

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Quote from: Rustamm on March 31, 2018, 10:09:54 AM

The situation, when the crypto currency is not yet recognized and not regulated by the state, really has its positive aspects, since at that time there is still no taxation on the profit from operations with the crypto currency. In the future, simultaneously with the solution of the issue of legalization of the crypto currency, the issue of taxation will be handled in parallel. Each state will have its own rules for collecting taxes, but all states will consider this issue. The time will come and we will all continue to pay taxes on profits in the crypto currency.

Exactly! since we are not yet obliged to pay for a tax then we should be happy because we don't evading tax as of the moment, because if we do have tax then it could be an added burden in our life, so just enjoy the fruit of what you have right now and let us just wait for further announcement.

Rustamm

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Bitcoin lover!

The situation, when the crypto currency is not yet recognized and not regulated by the state, really has its positive aspects, since at that time there is still no taxation on the profit from operations with the crypto currency. In the future, simultaneously with the solution of the issue of legalization of the crypto currency, the issue of taxation will be handled in parallel. Each state will have its own rules for collecting taxes, but all states will consider this issue. The time will come and we will all continue to pay taxes on profits in the crypto currency.

Edraket31

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Quote from: ACVinegar on March 11, 2018, 10:42:16 PM

Bitcoin is not yet legal due to lack of document for the legalization. But it was not banned because this coin are always followed to the terms and condition of respective country, aside on that they also followed the rules and regulation of each country. However this coin now is banned into some countries because some of them were scared that in the future it will become their greatest competitors.

It took time and must have full of understanding when we are talking about bitcoin legalization, it is not important how much interest they will imposed on it for as long as they have enough data that can support those regulations, so it would be fare and just for those who are working for cryptocurrency.

ACVinegar

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Activity: 196

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Bitcoin is not yet legal due to lack of document for the legalization. But it was not banned because this coin are always followed to the terms and condition of respective country, aside on that they also followed the rules and regulation of each country. However this coin now is banned into some countries because some of them were scared that in the future it will become their greatest competitors.

mann1983

newbie

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many countries bitcoin is not legal but in those they are still not banned so they can do trading.

futureofeth

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That is what everyone is kept silent because governments are not taking any action towards baning and they are not legalising. Government don't have many options how to legalise the bitcoin and what are the rules they need to consider and how can the economic growth will increase if they legalise the Bitcoin.

armandoz

member

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Yes that is true! even not yet legal but many people silent patronizing Bitcoin campaign because it is really helpfull to all of us even the government that agains don't know how to decide. it help also the economy grow. so how can stop if this help all of us.

futureofeth

member

Activity: 686

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That is the actual situation we are facing still, governments are not taking any action on banning and yet it is not legal. It will take some time for them to make legal because it needs lot of documentation in order to get legalize because Bitcoin is not restricted to one country.

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