Local Laws about Crypto

[Spaffin]

To find out about the existence of laws on a particular topic that interests me, I type keywords on this topic at Google and first look at the website of the legislature of my country. So I immediately enter into specific laws. I also look through other selected information to make sure that I did not miss anything. So pretty quickly, I find answers to any questions that interest me. Contact a lawyer, it will be a long time, and also expensive, besides, not every lawyer can navigate in matters of cryptocurrency.

[KorakPawon]

Even it sounds too much, I think it's better to ask about it to a lawyer just to find out and make sure that bitcoin isn't illegal and/or it has been regulated in your country. It's important to make you feel free and got no worries on running your cryptos. Anyway, where re you from? I think it's also better to give your precise position to help us give you advice even more.

[Rooster101]

You can also use google to find if your country prohibit the use of cryptocurrency. There are lists of countries that have been published or posted by some well known online media recently. There are also countries like mine that allows the use of cryptocurrencies in any transactions even it is not legalized yet. China is reportedly opening up on the use of cryptocurrencies after one of its local court ruled in favor of bitcoin so there is a big chance that your country might also allow the use of virtual coins in the future.

[Tapyaks72]

I think the main thing is that there is no ban on cryptocurrencies. Until our country introduced a law that regulates cryptocurrencies, it was easier for me to work with them. Now we have to pay taxes, and it is not very convenient. Cryptocurrencies in our country are recognized as property.

Yeah absolutely until the government will come out with a decision and put into law bitcoin and crypto currency  will legal because the is no bases to sue any body in a violation without  any law.

[Mhd-Bobbi]

How to find out about local laws about crypto currencies in a country? Do we have to consult a lawyer or are there any online resources that can help too?
In my country, I have not yet heard any news on bitcoin regulations or its status in the eyes of the government, so not sure if I can sell bitcoin and get the payment directly to my bank or not. Don't want to land in any trouble.

Every country has its own legal umbrella, there are some countries that allow the use of bitcoin, there are some countries that are not permitted to use bitcoin, you say that you should consult with the government, but you don't say, where is your country of origin?

[kaisa]

I think you need a bitcoin legality map all over the world, find it here: https://coin.dance/poli
Maybe not all are updated but at least you can find out the position of bitcoin legality in each country. in fact, some countries set it as a commodity not as a currency.

[izanagi narukami]

My government still decide to against crypto because btc still consider as criminal money and it's cause inflation so I'm using crypto with my own risk.
Let say if I get scam when I decide to invest crypto, there is no law that control it so police can't help me because there is no regulation for crypto.
The story is different if you're in Netherland or Japan where there is a law that control crypto for their need !

[Cupomi]

How to find out about local laws about crypto currencies in a country? Do we have to consult a lawyer or are there any online resources that can help too?
In my country, I have not yet heard any news on bitcoin regulations or its status in the eyes of the government, so not sure if I can sell bitcoin and get the payment directly to my bank or not. Don't want to land in any trouble.

Crypto currency in our country is very clear that the government prohibits crypto from being used to make payments, so in our country do not expect that there will be trade in goods paid for using crypto, but our country still recognizes crypto as an asset, and I think every country has laws about eyes crypto money, and things like this are usually a lot of news in the mass media.

[creeps]

How to find out about local laws about crypto currencies in a country? Do we have to consult a lawyer or are there any online resources that can help too?
In my country, I have not yet heard any news on bitcoin regulations or its status in the eyes of the government, so not sure if I can sell bitcoin and get the payment directly to my bank or not. Don't want to land in any trouble.

You can find this on your own, if there is no final statement or laws in your place regarding on cryptocurrency then I think there is no problem buying and selling cryptocurrency. Try also to ask the local banks if they are accepting this kind of transactions, but as far as I know sending cryptos directly in your bank account is still not exist or maybe in a few places.

Regulations are still not happening in some places, just like here in my country which we can freely use cryptocurrency without having any problem with the laws, but transacting directly with the banks is only possible using our local wallet. For sure in the future, many laws will be made around the world, so each government can regulate this market and collect some taxes to increased their income.

[Capt00]

How to find out about local laws about crypto currencies in a country? Do we have to consult a lawyer or are there any online resources that can help too?
In my country, I have not yet heard any news on bitcoin regulations or its status in the eyes of the government, so not sure if I can sell bitcoin and get the payment directly to my bank or not. Don't want to land in any trouble.

You can find this on your own, if there is no final statement or laws in your place regarding on cryptocurrency then I think there is no problem buying and selling cryptocurrency. Try also to ask the local banks if they are accepting this kind of transactions, but as far as I know sending cryptos directly in your bank account is still not exist or maybe in a few places.

Regulations are still not happening in some places, just like here in my country which we can freely use cryptocurrency without having any problem with the laws, but transacting directly with the banks is only possible using our local wallet. For sure in the future, many laws will be made around the world, so each government can regulate this market and collect some taxes to increased their income.

Yes, some of countries Bitcoin is not yet fully announced it is legal or not. But as far as I know, Banks are not giving authority to have clients that to open an account that had a source of income related from crypto. Most likely they close this kind of account and their possibility to forfeit their fund. You must know what is the flowing law in your state regarding crypto acceptance, always watching and listening news.

[Pattart]

You can also use google to find if your country prohibit the use of cryptocurrency. There are lists of countries that have been published or posted by some well known online media recently. There are also countries like mine that allows the use of cryptocurrencies in any transactions even it is not legalized yet. China is reportedly opening up on the use of cryptocurrencies after one of its local court ruled in favor of bitcoin so there is a big chance that your country might also allow the use of virtual coins in the future.

My country too, does not prohibit the use of bitcoin but there is no official legality and regulation made for crypto. in some countries it has provided regulations and even taxes. I don't know what the benefits are then, is it possible then we are getting easier at spending, when there are laws on bitcoin?

[greeklogos]

If you come on an exchanger and see that it is cooperate with the bank where you have your account then you logically can to transfer fiat there after you sell your bitcoin, coz you do not transfer bitcoin to your account, but fiat (dollars/euros). So there is no complication with this point.
The other case is to find out about the relationships between the government and crypto in your country. The simplest way to Google this point directly and to ask a lawyer if you will not find replies to your questions on the net.

[Alex_Zi]

Here is some of last news from Cointelegraph: "Thailand’s securities regulator will clear “at least one” Initial Coin Offering (ICO) “portal” to operate legally in November, local daily news outlet Bangkok Post reported Nov. 8."

[aryatrals]

I think going to ask a lawyer is the best thing to do if it is available. But if not, mr. Google is always open to be consulted with, the news are instantly being shared through this channel. If in your country you haven’t heard of any news, it’s maybe your not watching enough on the specific news agency who covers about government policy. In my country there is a chance for you to ask questions to an attorney on the spot that is live on a tv shows.

In our country the status of Bitcoin is very clear, the government does not allow Bitcoin to become a medium of exchange or any means of payment, so the government through the Ministry of Finance expressed their attitude through television channels and other mass media, so traders know very well about this, I don't knowing whether in other countries the government is open about their attitude towards bitcoin, but I think the government must announce their attitude through their financial service institutions.

[Alex_Zi]

News from CryptoVenezuela - Venezuela will present its state-backed cryptocurrency Petro as a unit of account for crude oil trading to the Organization of the Petroleum Exporting Countries (OPEC) in 2019!