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Author Topic: Bitcoin Legal Issues  (Read 4410 times)
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August 24, 2016, 09:23:33 AM
 #21

yes in these days the most important and big issue related to bitcoin is that of bitcoin legalization. I think most of the people have now thinking about this and they are going to take a final action about this.


If bitcoin is legalized, they might make it mandatory for all users to identify themselves then it will not be so anonymous anymore. That will make it less fun.
It Is still not that anonymous and legalisation will not take it away.Remember there still are people whose earnings are much more than their declared income.This is called black money and despite it is illegal,it remains untraced in most cases

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August 24, 2016, 08:48:02 PM
 #22

we have to respond to it with a cool head, do not take dizziness not necessarily because he knew the truth  Wink
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August 30, 2016, 07:59:12 PM
 #23

yes in these days the most important and big issue related to bitcoin is that of bitcoin legalization. I think most of the people have now thinking about this and they are going to take a final action about this.


If bitcoin is legalized, they might make it mandatory for all users to identify themselves then it will not be so anonymous anymore. That will make it less fun.
It Is still not that anonymous and legalisation will not take it away.Remember there still are people whose earnings are much more than their declared income.This is called black money and despite it is illegal,it remains untraced in most cases
if a country has declare bitcoin as illegal currency then they can also declare the income of bitcoin as black money, but a state has consider bitcoin as legal currency or even not give any statement about bitcoin then they cannot declare the income of bitcoin as black money.
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October 25, 2016, 03:06:02 PM
 #24

just like both bitcoin and marihuana enthusiasts might say:
legalise hash!
but in all seriousness,how do you see the unified legislation in regards to bitcoin?
every country has its own interests and legislation,hence in some areas bitcoin is illegal,some encourage its use

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September 25, 2017, 10:40:26 AM
 #25

Yes there is an issue about the legalization in Bitcoin. In my opinion it's hard if the Bitcoin will be legal because there is many rules, regulations, responsibilities to do and there is a limitations on what you gonna do. And you will pay a tax that is very big. So your money will be gone of paying a tax. For me that's the issue in Bitcoin.
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September 25, 2017, 11:41:44 AM
 #26

yes in these days the most important and big issue related to bitcoin is that of bitcoin legalization. I think most of the people have now thinking about this and they are going to take a final action about this.


If bitcoin is legalized, they might make it mandatory for all users to identify themselves then it will not be so anonymous anymore. That will make it less fun.
It Is still not that anonymous and legalisation will not take it away.Remember there still are people whose earnings are much more than their declared income.This is called black money and despite it is illegal,it remains untraced in most cases
Black cash in all countries illegal because it is a recognized currency. Until bitcoin is not recognized currency, it cannot be considered a black cash. From the moment you sell your bitcoins for Fiat you will receive income. That is why it is important to be able to spend bitcoin avoiding Fiat.
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September 26, 2017, 02:19:04 PM
 #27

The law of bitcoin in different countries is different because their government has its own rules.
If in my country the government makes a law on bitcoin, which explains that bitcoin can be used, traded, or stored as an asset or a form of digital commodity but should not be used as a means of payment.
The use and ownership of bitcoins is the personal responsibility of each user.

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September 26, 2017, 03:06:19 PM
 #28

 Smiley
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September 26, 2017, 11:16:06 PM
 #29

It'll be so complicated to try to legalize bitcoin and blockchains in general. The government would have to hire a bunch of programmers to figure all of it out.
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September 27, 2017, 10:23:43 AM
 #30

It'll be so complicated to try to legalize bitcoin and blockchains in general. The government would have to hire a bunch of programmers to figure all of it out.
Don't underestimate the ability of the government. A few competent programmers can replace the whole Ministry. In fact it will only bring savings. But the government is not profitable. The easier it is to control the money the less the politicians be able to steal.
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September 27, 2017, 10:23:57 AM
 #31

Bitcoin Legal Issues is an important concern in relation to international financial law. Bitcoin is doing well but there are many legal questions need to be analysed in relation to Bitcoin and its standing point as Digital Financial Service. Bitcoin is an Electronic Cash System providing digital financial services globally but there are many speculations and wrong definitions are floating in the Internet. Many governments and bankers as well as public are cofused of legal definition, what Bitcoin is ?  >>

The main issue is because of the decentralized nature of the bitcoin. And this is why people concern that bitcoin may get ban . But rather than banning if the gov put tax on the transaction then it will be good for bitcoin as well as the government.
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September 27, 2017, 01:35:25 PM
 #32

The United States Securities and Exchange Commission (SEC) today announced the creation of a Cyber Unit to combat violations involving distributed ledger technologies (DLTs) and early crypto-currency offers ( ICOs), as well as other virtual crimes.
According to an official statement from the US financial market regulator, the aim is to protect small investors from criminal misconduct and investment mischief.
The Cyber Unit will absorb the experience of the SEC Execution Division in combating cyber crimes and will focus on illicit activities.
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September 27, 2017, 06:17:15 PM
 #33

There are a lot of legal issues pertaining to Bitcoin because of its vast popularity and inability of governments to stop its growth and development. Nonetheless, Bitcoins continue to thrive in the growing market and substantially changes the economy at large. To date, we now open ourselves to the realm whereby Bitcoins have successfully penetrated the economy in that they are now being used as a medium of exchange for goods and services. The problem that now confronts us concerns its regulation to protect both producers and consumers.
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October 02, 2017, 10:26:45 PM
 #34

Bitcoin Legal Issues is an important concern in relation to international financial law. Bitcoin is doing well but there are many legal questions need to be analysed in relation to Bitcoin and its standing point as Digital Financial Service. Bitcoin is an Electronic Cash System providing digital financial services globally but there are many speculations and wrong definitions are floating in the Internet. Many governments and bankers as well as public are cofused of legal definition, what Bitcoin is ?  >>

Currently, bitcoin has not been legalized in all countries in the world, but there have been some countries that have legalized bitcoin and made bitcoin as the official currency in their country that can be used as a legitimate transaction tool. this proves the Government of the country that legalize bitcoin has fully understood the rules in this cryptocurrency, and this proves worthy bitcoin to be the currency in their country.
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October 03, 2017, 01:03:39 PM
 #35

You can avoid paying taxes, laundering dirty money and committing other crimes  with the help of bitcoin
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October 05, 2017, 09:00:24 AM
 #36

Bitcoin Legal Issues is an important concern in relation to international financial law. Bitcoin is doing well but there are many legal questions need to be analysed in relation to Bitcoin and its standing point as Digital Financial Service. Bitcoin is an Electronic Cash System providing digital financial services globally but there are many speculations and wrong definitions are floating in the Internet. Many governments and bankers as well as public are cofused of legal definition, what Bitcoin is ?  >>

Because you have more than  200 countries and which one have many rules so bitcoin legal or not Depend on that rules which is difference between countries so that some make bitcoin legal and other not

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October 05, 2017, 10:53:16 AM
 #37

Bitcoin Legal Issues is an important concern in relation to international financial law. Bitcoin is doing well but there are many legal questions need to be analysed in relation to Bitcoin and its standing point as Digital Financial Service. Bitcoin is an Electronic Cash System providing digital financial services globally but there are many speculations and wrong definitions are floating in the Internet. Many governments and bankers as well as public are cofused of legal definition, what Bitcoin is ?  >>

Currently, bitcoin has not been legalized in all countries in the world, but there have been some countries that have legalized bitcoin and made bitcoin as the official currency in their country that can be used as a legitimate transaction tool. this proves the Government of the country that legalize bitcoin has fully understood the rules in this cryptocurrency, and this proves worthy bitcoin to be the currency in their country.
Give me one example of a country that legalized the use of bitcoin and recognized it as currency. Yes, there are many countries who think about how to do this but they don't have a control mechanism. Without this legalization will not. State institutions do not recognize bitcoin but want to get from it.
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October 05, 2017, 01:58:21 PM
 #38

no one country didn't legalyzed cryptocurrency. many of them like blockchain more
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October 09, 2017, 07:21:53 AM
 #39

Bitcoin Legal Issues is an important concern in relation to international financial law. Bitcoin is doing well but there are many legal questions need to be analysed in relation to Bitcoin and its standing point as Digital Financial Service. Bitcoin is an Electronic Cash System providing digital financial services globally but there are many speculations and wrong definitions are floating in the Internet. Many governments and bankers as well as public are cofused of legal definition, what Bitcoin is ?  >>

up to now no one declare bit coin is legal. most of the country's using bit coins but court not declare any statement it is legal or illegal. few people using bit coins legally but most of the people using bit coins illegally. bit coins are not banned in any country's so every one using this coins for their daily life.
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October 09, 2017, 08:48:45 AM
 #40

I think some governments from most of the countries are still preparing related legal issues to bitcoin and are still monitoring their progress and usage, I think most governments haven't really made sure what point of views are on using of bitcoin. But some news from that I read, that the one of country already exist that legalized bitcoin or the using of bitcoin itself. In that country it's no longer blame for the using of bitcoin, and it has been officially responded well to its use, but may still be always under the government oversight on using of bitcoin.

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