Is Bitcoin Legal?

[biboy]

legal means not against the law, so it depends. Some places are trying to ban it since it seems that it has be used for illegal things. Govts will try to regulate it but that's not the point of btc.

The most likely answer will be its depend upon the country  if they will legalize it or not but to have a whole majority big answer if Bitcoin to be a legal or not i suggest it should be the the United Nations will be the true rulling judge regarding Bitcoin legality issue because most countries is member of this organization. If the UN will declare Bitcoin is legal or not then it has a powerful mandatory resolutions that all countries shall obey.

Good thing that here in my country the adaptation is widely accepted when it comes to cryptocurrency that is why a lot of businesses sees this as a good opportunity to accept bitcoin as way of payment, actually, we have already launched our first decentralized ICO and we are all  hoping that it will become successful.

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[Karenita_el]

I'm new to crypto, and have some questions. Regarding legality: I'm concerned about the FED. Not a nice bunch of folks when it comes to our money system, the world's money system, and all the central banks that they control, and so on. I'm referring to the power the US Constitution grants the US Congress to coin money:

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

To provide for the Punishment of counterfeiting the Securities and current Coin of the United States

Has Congress any hand in this? I'd rather it didn't, but it's a legit question. What's to prevent Congress from declaring cryptocurrency counterfeit money and nail anyone who uses it? Just a question. I don't want my head bitten off, please.

Now, "[t]he Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. §§ 221 to 522) is an Act of Congress that created and established the Federal Reserve System (the central banking system of the United States), and which created the authority to issue Federal Reserve Notes (commonly known as the US Dollar) as legal tender. The Act was signed into law by President Woodrow Wilson."

They DO NOT want anything to threaten their central banking system. JFK created Executive Order No. 11110, which "...delegating to the Secretary of the Treasury the president's authority to issue silver certificates under the Thomas Amendment of the Agricultural Adjustment Act, as amended by the Gold Reserve Act. The order allowed the Secretary to issue silver certificates, if any were needed." It's still on the books.

This part of the above paragraph from Wikipedia doesn't make sense, though, but Wikipedia is a questionable entity: "during the transition period under President Kennedy's plan to eliminate Silver Certificates and use Federal Reserve Notes."  Why would JFK issue an executive order to create something that he would want to eliminate? I'm quite sure he created this ex order to counter the FED. He knew they were a dangerous entity, and they are.

Some silver certs were printed--my father showed me one years ago, but I was a kid and didn't understand what it was or why it was different from other money--but after his assassination, none has been printed. I'm not saying they were behind his assassination, but I'm not saying they weren't.

What's the word on any of this? I honestly don't feel like digging through all these comment to find answers. Sorry about that. I'm so curious, though.

Thanks in advance.

[malamjumat8]

in my opinion, bitcoin can be legal and can also be illegal. depending on the country, there is a legalized some are not.

[Vektrum]

i don't see much of a difference between free to use and not regulated(in the first case it will be regulated too in the future i suppose...), also it surprise me that in the whole asia basically, bitcoin is restricted, i thought that only china has restricted it via exchange

Perhaps the difference between the free-to-use crypto currency and the non-regulated one can be explained by the example of Russia. There the crypto currency is not regulated yet, but it can not be said that it is freely used there. Moreover, in Russia a draft law has been drafted providing for criminal liability for the use of crypto currency as a means of payment for goods and services. This law can be adopted in spite of the fact that the issues of regulation of the crypto currency can be considered much later. It turns out that there will be no free circulation of crypto currency in Russia, although these issues will not be regulated for some time.

[godwyn50]

There are generally two types of currency from a legal perspective, there is legal tender and legal currency. Legal tender is simply currency that cannot be refused in the fulfilment of a debt. Legal currency is currency that is recognised by the government as a legitimate manner to pay for goods and services.
As the market capitalization of the cryptocurrency market shoots up, through price movements and a surge in new tokens, regulators around the world are stepping up the debate on oversight into the use and trading of digital assets.

[denny27]

Looking on it, it seems really true bitcoin hasn't really recognized by the whole world, it is a digital currency that really is not known yet more deeply until all the things in it related to the its technology as well.
Every countries with differing opinions on bitcoin will certainly make this a big question that will legalize or not, well about this., the time will answering it, and I'm more guessing it will be accepted in most countries until it becomes legal.

[setyooaoe889]

I think bitcoin is legal

[daddypastes]

it depends to country government if they put to illegal the bitcoin but for us that we know already about bitcoin we fight for making bitcoin legal in our country because we know that bitcoin will be helpful to us...but some of the country's still don't know about it or still thinks its danger well tjey are even right for some points too it can be dangerous if we don't use it well..peoples are the only one who are making it legal and govenments are the one who are making it illigal because it can put a full stop on their corruption and no one would be becoming poverty...

[Eleven86]

it depends to country government if they put to illegal the bitcoin but for us that we know already about bitcoin we fight for making bitcoin legal in our country because we know that bitcoin will be helpful to us...but some of the country's still don't know about it or still thinks its danger well tjey are even right for some points too it can be dangerous if we don't use it well..peoples are the only one who are making it legal and govenments are the one who are making it illigal because it can put a full stop on their corruption and no one would be becoming poverty...

Where I live is not yet annuonced as legal or illegal. Its yet to be adapted i would say. I predict my country would probably adapt/allow crypto currencies in the country realizing the needs of it. There are news that the country is working behind to crreate a new crypto coin. We have another business man, planning on  to reate a new coin with the support of his son and the team. So lets wait and see the good things happen.

[Sithara007]

The definition of BitCoin as money is not as straightforward as you might think.Some institutions consider it a luxury or a commodity.It is perfectly legal to receive,trade,buy and sell bitcoin.Their are no laws against it anywhere (I'm pretty sure) unless you live in a place like North Korea.

May be you should improve your knowledge about the legality of Bitcoin. You may be "pretty sure" that there are no laws against Bitcoin anywhere in the world. But that is not the case. Bitcoin is explicitly banned in countries such as Ecuador, Nepal, and Kyrgyzstan.

[sundul]

Nice Map it! I think Bitcoin is still not legal. There are still many countries around the world that strictly prohibit the use of Bitcoin. Including in my own country, Bitcoin is banned in the form of a transaction tool but is still allowed for investment assets. But I hope in the future Bitcoin can be declared legal by all countries in the World.

[hacekd]

Today, many policymakers in the world already know about digital currencies like Bitcoin, but many of them have not made legal or legal rules about digital currency because of the complexity of digital currencies like Bitcoin - whether Bitcoin should be set as one currency ? Payment instrument? Or investment assets?

[welliamy]

Check out this cool interactive map covering Bitcoin legal status globally. I don't think I have seen something like this anywhere.

What the future holds for the world where utmost people’s and companies’ interests clash daily, the time will only show.

You’re welcome to a full and comprehensive guide to the legal status of Bitcoin throughout the world with a unique interactive
map providing access to a visual history of cryptocurrency regulation.

So many country that bitcoin is legal
It depends by country to country and to the union
Vietnam-bitcoin is legal to trade and hold but it is illegal
As payment tool.

[ahmad21]

Well I would like to edit your map a bit. India has not restricted its usage really. Infact they have no law about it. Our ministers have been gibing a few statements about how bad bitcoin is but there are no such laws which make its usage restricted. There is a committee which has been pondering over the threats caused by bitcoin and cryptos and still has to give its report. Moreover you cant expect all countries to make it legal. We dont have any regime which is practiced by every country of the world decisions and rules will vary for sure.

[bizar]

https://i.imgur.com/fuvWAPB.jpg?1
Check out this cool interactive map covering Bitcoin legal status globally. I don't think I have seen something like this anywhere.

What the future holds for the world where utmost people’s and companies’ interests clash daily, the time will only show.

You’re welcome to a full and comprehensive guide to the legal status of Bitcoin throughout the world with a unique interactive
map providing access to a visual history of cryptocurrency regulation.

HI GTA,

The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.[1] Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it.

Hope this clarifies your question

[Greenkarki]

Check out this cool interactive map covering Bitcoin legal status globally. I don't think I have seen something like this anywhere.

What the future holds for the world where utmost people’s and companies’ interests clash daily, the time will only show.

You’re welcome to a full and comprehensive guide to the legal status of Bitcoin throughout the world with a unique interactive
map providing access to a visual history of cryptocurrency regulation.

It depends upon the country which you resides. It varies from country to country. Some countries had banned bitcoin already. Some countries plan to banned, but still many countries in people use bitcoin for their basic needs. Never mind whether it is going to banned or not. If it is acceptable in your country then use it. Still bitcoin is legal in amny countries.

[maarx]

Common question is being asked often. It depends on where you live. We have countries who have announced that bitcoin it legal and they have grown up well increasing its economic status by trading crypto currencies including bitcoin. We do have countries who are yet to accept and who have denied accepting bitcoin as legal. Its their lack of blindness. They will certainly adapt bitcoin when other countries in the world accepted it.

[Sayed Rifat]

https://i.imgur.com/fuvWAPB.jpg?1
Check out this cool interactive map covering Bitcoin legal status globally. I don't think I have seen something like this anywhere.

What the future holds for the world where utmost people’s and companies’ interests clash daily, the time will only show.

You’re welcome to a full and comprehensive guide to the legal status of Bitcoin throughout the world with a unique interactive
map providing access to a visual history of cryptocurrency regulation.

Many individuals are concerned about the legalities of Bitcoin; however, it is currently legal in all 52 states in the United States of America, although each state has their own policies. California recently enacted a law making bitcoin and other virtual currencies officially legal in the state.

[palvinta]

If for my country Bitcoin not yet legal. But do not know if in your country Bitcoin legal or not I do not understand. But I hope Bitcoin can be legal throughout the country in order to more easily use Bitcoin freely.

[HereisTommy]

I'm sure that bitcoin is 100% legal itself. Yes, there are some methods of dark usage of btc, but it depends on people, not on bitcoin!