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Author Topic: Not Yet Legal But Not Banned  (Read 6983 times)
Qartersa
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October 24, 2017, 04:34:52 AM
#81

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. 

True. Let us make the most out of Bitcoins while the governments still find a hard time coping up with revolutionary cryptocurrencies. Thing is, they know these cryptocurrencies exist; they just cannot cope up with something as big as this. And also, it cannot be denied that these help their economies reach its full potential considering their lack of attention to it. They are in the state of ambivalence, perhaps. 

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October 24, 2017, 08:56:20 AM
#82

As a bitcoin user in my own country, I will call our status as an open country with cryptocurrency. Highlighted that we do have so much services and options on buying and selling using bitcoin. So many and so widespread but still our government has not even bothered to make or legislate a bill to protect the investors. It is not legal but absolutely not illegal standing.
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October 24, 2017, 10:48:36 AM
#83

This is exactly happen on my government as well as they forbid us to not use bitcoin for transaction but I still can own bitcoin without being fear getting jail. The main reason that my government stil not legalized bitcoin because bitcoin is criminal money and our country are against terrorist & corruptor.

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October 26, 2017, 10:51:50 AM
#84

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. 

in my country most of the people using bit coin for buying and selling different different goods. actually they all are doing this tasks legally. no my government given to us permission using of bit coin. if suppose we make a misuse i mean we had to use it illegally then it may banned. otherwise it is not blocked. in my country we are using bit coin but it is not banned up to now.

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October 26, 2017, 11:10:50 AM
#85

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 this is exactly the case it is not legal in my country(of what i think ) but not even banned . But i don't think that paying taxes does not include . when we do a transaction and convert it into country currency the tax amount is paid.

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October 26, 2017, 11:13:03 AM
#86

This is exactly happen on my government as well as they forbid us to not use bitcoin for transaction but I still can own bitcoin without being fear getting jail. The main reason that my government stil not legalized bitcoin because bitcoin is criminal money and our country are against terrorist & corruptor.
If you are using bitcoin for illegal activities it is easy to track. Governments lie. They are accustomed to the fact that they do not need to do anything. Banks are sistematizirovat and provide them with account information. With bitcoin this is not happening. But this does not mean that it is impossible to find a person by transactions. The anonymity of bitcoin is a strong exaggeration.

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October 29, 2017, 01:45:52 PM
#87

The current status of bitcoin in several countries is "not defined " whereas in few countries bitcoin is "legal " and in some it is "illegal".
Till we don't have a clear idea about the "legality" of bitcoin in our respective countries there is no fear in continuing using it . I hope it gets legalized in every country.


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October 29, 2017, 05:52:39 PM
#88

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. 

Exactly. In my country, too, the status of Bitcoin is exactly what you said, "not yet legal but not banned." because the government is not yet noticing it and that is only because there aren't a lot of consumers of Bitcoin in my country which makes it not-noticeable for someone far away from the things like e-earning and all. So we, the bitcoin users in the country, are probably enjoying the current status that we have of bitcoin here, and not sure if for how long it will last until we enter another phase where the status might get changed. That will be when more people will start knowing about bitcoin and using it and then maybe the government will be concerned about it too.



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October 30, 2017, 09:17:39 AM
#89

This 'not legal, but not yet banned' status won't be there for long, especially since more and more money is being thrown into crypto-market. The regulations will come whether we want it or not, therefore, I believe it would be wise to be involved when forming those regulations. We don't want a bunch of government peeps who have little to no idea about cryptocurrencies take control over it.
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October 30, 2017, 01:00:40 PM
#90

For many of the countries where bitcoin is not yet recognized, it is perhaps difficult for them to legalize a virtual currency they can not control. Others are resulted to regulating bitcoin transactions and their crypto exchanges. Here in my country, the central bank issued a regulatory guidelines for bitcoin exchanges but did not endorse any virtual currency as a currency to be used by its people.

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October 30, 2017, 02:55:07 PM
#91

This 'not legal, but not yet banned' status won't be there for long, especially since more and more money is being thrown into crypto-market. The regulations will come whether we want it or not, therefore, I believe it would be wise to be involved when forming those regulations. We don't want a bunch of government peeps who have little to no idea about cryptocurrencies take control over it.
Why do you think that we must own hands to dig my own grave? As soon as the government will be able to regulate cryptocurrency it will not bring anything good. I'm sure of it. Therefore, the longer the state will have the opportunity to influence the cryptocurrency market the more opportunities we will have.

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October 30, 2017, 03:18:13 PM
#92

In the case of my country. Knowing my government, I think time will come that they will feel on making some regulations for Bitcoin. They may not ban it, but they can impose tax or specific declaration and filing of Bitcoin income from related activities such as mining or trading. However, just recently the government or some politicians in my country said that they would support Bitcoin. It has been active in our country but this time, the government has now noticed the development and the potential contribution of Bitcoin in the economy and the country as a whole.

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October 30, 2017, 03:28:51 PM
#93

The current status of bitcoin in several countries is "not defined " whereas in few countries bitcoin is "legal " and in some it is "illegal".
Till we don't have a clear idea about the "legality" of bitcoin in our respective countries there is no fear in continuing using it . I hope it gets legalized in every country.


My country already aware of bitcoin and they decide to forbid my people to use bitcoin as main transaction.
Luckily my government still not make any policy yet against bitcoin so I can still use bitcoin without breaking any law and without paying any tax of course !



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October 31, 2017, 08:23:18 AM
#94

The current status of bitcoin in several countries is "not defined " whereas in few countries bitcoin is "legal " and in some it is "illegal".
Till we don't have a clear idea about the "legality" of bitcoin in our respective countries there is no fear in continuing using it . I hope it gets legalized in every country.


My country already aware of bitcoin and they decide to forbid my people to use bitcoin as main transaction.
Luckily my government still not make any policy yet against bitcoin so I can still use bitcoin without breaking any law and without paying any tax of course !
Where are you from?
I am from Serbia and I suppose our politics will follow the same way about bitcoin. But for now I didn't even here any concrete position of our government towards bitcoin and crypto generally. Meanwhile we have two bitcoin ATMs in the capital and there are a lot of people who use bitcoin.

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October 31, 2017, 11:30:34 AM
#95

The current status of bitcoin in several countries is "not defined " whereas in few countries bitcoin is "legal " and in some it is "illegal".
Till we don't have a clear idea about the "legality" of bitcoin in our respective countries there is no fear in continuing using it . I hope it gets legalized in every country.


My country already aware of bitcoin and they decide to forbid my people to use bitcoin as main transaction.
Luckily my government still not make any policy yet against bitcoin so I can still use bitcoin without breaking any law and without paying any tax of course !
Where are you from?
I am from Serbia and I suppose our politics will follow the same way about bitcoin. But for now I didn't even here any concrete position of our government towards bitcoin and crypto generally. Meanwhile we have two bitcoin ATMs in the capital and there are a lot of people who use bitcoin.
I think that Serbia will go the way of Russia. There has long been a government under the control of the Russians. I was in Serbia and I really love this country. There are very friendly people. The governments of different countries United by one goal. They fear the spread of bitcoin. They are not ready to govern the country in the uncontrolled mode of the financial system. Even if it helps to attract investments to the country.



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leonair
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November 01, 2017, 08:39:03 PM
#96

It is not Banned because it is legal to use, for the mean time maybe. Governments of each countries in the world are not yet fully aware of what is the potential of cryptocurrencies as a future online digital currencies and that is a big problem for them because they will soon regulate it to their very own citizens without knowing the full details of it, so I think the Governments must build and create a specific department for cryptocurrencies to be study and monitor because this is the next big thing of the future and it is inevitable.


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Marucya
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November 02, 2017, 12:47:57 AM
#97

Yes, the period of the "wild" crypto-currency, when it was not yet recognized by the states, and at the same time was not banned or restricted in circulation, seems to pass. Now, almost the majority of countries are studying crypto currency to determine its status and methods of its possible regulation. Such regulation, as a rule, includes the establishment of taxes on profits from operations with crypto currency. Crypto-currency, thus, enters a new stage of its development.

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mariaana
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November 02, 2017, 02:56:44 AM
#98

It has pass the banking law in order to withdraw money from the bank...then it is legal.  However, the government can make regulations or laws in order to ban the bitcoin system.  Like considering it as a means of money laundering or as a means of terrorist funding.  But the way I see, the strict regulation on bitcoin membership can protect the system and can help a lot of individuals to spread equality of wealth among men.
roddy5
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November 04, 2017, 03:44:06 PM
#99

If your government did not classified bitcoin as illegal then by default
it should be legal as long as you are not using the coin on illegal activities.
Some countries already declared bitcoin use as illegal.

Domenc
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November 05, 2017, 04:13:24 PM

In many countries , still there is no specified law regarding the use of bitcoin . This makes it not legal but also not illegal or banned .
Governments are very well introduced with the concept of bitcoin but they are still confused whether it will integrate or degrade their economy . That is the main reason why there are still no specified regulations for the use of bitcoin in many countries .  So it will be good to say use it till it doesn't get banned in your country .
No one can take an action against you in this scenario.


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