What is the legal status of Bitcoin in your country? - page 7.

rigmasterkurulum

copper member

Activity: 52

Merit: 2

Quote from: stomachgrowls on August 15, 2021, 12:53:29 PM

Quote from: rigmasterkurulum on August 15, 2021, 12:34:23 PM

What is the situation in other countries that you know of? And do you think the world will start accepting it or will regulate and see it only as a "store of value" and not a currency?

Here i our country.I could say that they are still on neutral phase but i have seen some of companies(local wallet provider) had been regulated which i do presume that they are on positive side of things
which is really good to look at but i had noticed that KYC is becoming more strict as the years passing.

So far i do able to make use despite of those KYC but im just using it for the sake of online payments which is way more too convenient and more safe specially now on a pandemic situation.
You can make payments with ease.

Although,I wont be surprised if there would be such changes since government wont really be just sitting down on doing nothing.

Oh, I forgot to mention, in Turkey now the companies providing crypto asset services (exchanges, wallet providers, issuers etc.) are regulated and must follow specific KYC procedures. So there's that too.

stomachgrowls

hero member

Activity: 2996

Merit: 794

Quote from: rigmasterkurulum on August 15, 2021, 12:34:23 PM

What is the situation in other countries that you know of? And do you think the world will start accepting it or will regulate and see it only as a "store of value" and not a currency?

Here i our country.I could say that they are still on neutral phase but i have seen some of companies(local wallet provider) had been regulated which i do presume that they are on positive side of things
which is really good to look at but i had noticed that KYC is becoming more strict as the years passing.

So far i do able to make use despite of those KYC but im just using it for the sake of online payments which is way more too convenient and more safe specially now on a pandemic situation.
You can make payments with ease.

Although,I wont be surprised if there would be such changes since government wont really be just sitting down on doing nothing.

Rikafip

legendary

Activity: 1722

Merit: 5937

While in Croatia we don't have any specific crypto law, you can do pretty much anything except pay taxes with it (AFAIK). So if you wanna report your trade profits, you would do it same as you would for stocks, while for example mining is taxed as 2nd income and the same would do for profits from signature campaigns (again AFAIK).

Overall, situation in Croatia is pretty good for crypto enthusiasts, especially since there are ways to legally buy/sell up to 2,000 euro worth of crypto per day from crypto exchanges without any sort of KYC but somehow I think that won't last for long and sooner or later we will be hit with more strict regulation. But well, at least we can enjoy while it lasts as i know that in many countries you can't do that anymore.

newIndia

legendary

Activity: 2226

Merit: 1049

India: Neither legal. Nor illegal.

Supreme Court of India verdict regarding Crypto on March 4, 2020: https://main.sci.gov.in/supremecourt/2018/19230/19230_2018_4_1501_21151_Judgement_04-Mar-2020.pdf

Reserve Bank of India notification regarding Crypto on May 31, 2021: https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12103

rigmasterkurulum

copper member

Activity: 52

Merit: 2

Some countries banned crypto assets totally, some banned mining, some allows even paying taxes with it and some doesn't allow purchasing goods using crypto assets.

The Republic of Turkey has a strict ban against using crypto assets as a way of payment or developing technological infrastructure for such use case. However, it is perfectly legal for individuals and businesses to buy/sell/mine/trade the crypto assets.

What is the situation in other countries that you know of? And do you think the world will start accepting it or will regulate and see it only as a "store of value" and not a currency?

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