Not Yet Legal But Not Banned

[Seeker#9]

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. 

Same here in my country, there still no law legalizing bitcoin nor making it illegal. I've been using bitcoin for more three years now and several aready banned the bitcoin and other cryptocurrencies. Our government's central bank imposed some regulations on some bitcoin exchanges to protect the people using it. But I doubt if the government will allow a decentralized currency to be legalize here. The present central bank laws applies only to any currency that can be controlled and not the decentralized virtual currencies. I think amending that central bank laws will not also easy and many present officials might not even consider it.

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[Ompyon]

Because in my country respect for human rights and upholds the value of tolerance, therefore the use of bitcoin is not prohibited, provided that it does not violate any applicable law

[boboyboi]

bitcoin is not legal in our country. He also does not have band. Just reminded to always use the money from crypto or bitcoin. so you'r right lets enjoy bitcoin.

[Aikidoka]

In my country, bitcoin is used in a free way because it is neither legal nor illegal. There is no such a law that says mining/holding/using bitcoin is illegal. And honestly, I want it to remain this way because I do want to continue to use it without feeling guilty or regret.

Plus, people in here are not interested in digital currencies. They do not even know whether or not they exist. That is why I am relieved because bitcoin is still unknown by many people.

[Rajamuda]

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. 

Not only that, we must keep the good name of bitcoin until the longer it will be more memorable well for the country's governments where we live.
Although still free of taxes, I think it's good if we try to pay taxes combined it with other income from us, I'm personally combined it with my business income at home.
Anyhow what would happen to the country if the citizen avoid the taxes, it will have a bad impact on the country.

[dokie987]

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.

same with my country also do not banned the bitcoin and other crypto currencies, but the government itself makes a warning to bitcoin users to be careful from scammers.

[enhu]

If governments not seeing the blockchain technology isn't being used by banks like the rest of us hating XRP, I guess there won't be legalization and proof that it is indeed safe to use the technology and that government can tax investors. To me it doesn't matter what XRP do but if they've proven themselves for the banks to be used then I guess the government can also approved the rest of the blockchain tokens and that includes btc.

[Abubakaradam]

If governments not seeing the blockchain technology isn't being used by banks like the rest of us hating XRP, I guess there won't be legalization and proof that it is indeed safe to use the technology and that government can tax investors. To me it doesn't matter what XRP do but if they've proven themselves for the banks to be used then I guess the government can also approved the rest of the blockchain tokens and that includes btc.

In my country the public interest to invest in bitcoin increases with the rise of the digital currency price. If there is a gain in the sale / purchase transaction or bitcoin investment, it is taxable income, according to the self assessment system, the taxpayer shall report the income in the annual tax return and pay the tax. and it does not matter to me.

[Guapongbadoy]

In the case of bitcoin no country would actually ban bitcoin. The main reason there is no such law declared to be an acceptable reasonable to ban bitcoin, also aside from bitcoin there are many online business that the government has no power to declare it illegal so it is continuously operating with free from taxes same with bitcoin. The only reason I that the bitcoin will be banned by the government a certain country is when the economy is falling. Bitcoin now is just a threat to the economy but an apple of the eye of the country that wants to control bitcoin because it could make their nation rich.

[Glydel1999]

One thing funny about bitcoin in other country they not legalize bitcoin but they not also banned. I know they are interested in bitcoin but they are still holding back because they have no gouts.

[Tapyaks72]

One thing funny about bitcoin in other country they not legalize bitcoin but they not also banned. I know they are interested in bitcoin but they are still holding back because they have no gouts.

The central bank of our country is very optimistic to provide some policies that would protect users from criminal activities like terrorism activities and the likes. the policies should only implies to Bitcoin exchange provider where you can exchange BTC to our Local  fiat currency. one of those is our electronic wallet that will change BTC  To fiat currency has a limitation to  certain amount you can withdraw in certain period. but if you can provide some documents like a bank transaction and any business permits to support your capacity to earn a bigger amount of BTC your limits also increase to a certain level.

[Zadicar]

One thing funny about bitcoin in other country they not legalize bitcoin but they not also banned. I know they are interested in bitcoin but they are still holding back because they have no gouts.

The central bank of our country is very optimistic to provide some policies that would protect users from criminal activities like terrorism activities and the likes. the policies should only implies to Bitcoin exchange provider where you can exchange BTC to our Local  fiat currency. one of those is our electronic wallet that will change BTC  To fiat currency has a limitation to  certain amount you can withdraw in certain period. but if you can provide some documents like a bank transaction and any business permits to support your capacity to earn a bigger amount of BTC your limits also increase to a certain level.

But the risk of being tax increase would be there and I bet we do have the same service which we are using since they are really implying more strict rules towards it unlike on previous years where bitcoin is still new to the country there only just an ordinary adaptation until comes to a point on where it got to their attention on the cash flow being transacted between local fiat and bitcoin itself.

[rhamzter]

Bitcoin and other crypto currencies are not yet legal but not banned, because they followed the rules and regulations of each country. They know the good and bad things that possible to happen, they can't abused their power as decentralize industry. Crypto currencies are the world where they are free and where they can do the things what they want to have.

[Siopao]

Countries are still figuring out their stand about the existence of cryptocurrency in their respective place. Some other have already declared a total ban for cryptos, while others are taking baby steps for it. Maybe theynsee a potential fornusing crypto but on the other hand quite hesitant thay it may harm the economy. Good thing is that (for countries who doesn't ban it) we still can use it even if it's not yet legalized.

[dokie987]

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, bitcoin is being realized. It is not ban not illegal but our National Bank just warned us not to trust any pyramiding bitcoin for this may result to scamming.

[sukamasoto]

...
In my country, bitcoin is being realized. It is not ban not illegal but our National Bank just warned us not to trust any pyramiding bitcoin for this may result to scamming.

With hacking incident and malware that require bitcoin ransom, I think it's become more difficult for my government to legalize bitcoin.
It's reasonable things and logic but I think they will change the regulation about bitcoin so only time will tell when will it happen.
Bitcoin is unique and it has unique way to impress people's interest

[Falgorn]

Crypto currency can be considered illegal in the country in the event that laws are passed that prohibit its circulation. If such laws are not adopted by the highest legislative body, then everything that is not forbidden is allowed.

[GideonGono]

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. 

I agreed though lets just enjoy that it's "not yet legal but not banned" , but there are many countries that banned the bitcoin such as, france , china , korea and also the india , and many countries on the asia is still illegal , for the people who are in the asia still waiting to implement or to be legalize the bitcoin. And on the other hand I think sooner or later it would be the currency of our world though , many of government and also the medias are disagree on implementing bitcoin because of the one reason and that's the bad image of bitcoin that it can be used on the illegal stuffs but such as the money right or the currency that we are using , so why they not legal it? , because of the lack of knowledge through bitcoin.

[mharz]

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.  

I agreed though lets just enjoy that it's "not yet legal but not banned" , but there are many countries that banned the bitcoin such as, france , china , korea and also the india , and many countries on the asia is still illegal , for the people who are in the asia still waiting to implement or to be legalize the bitcoin. And on the other hand I think sooner or later it would be the currency of our world though , many of government and also the medias are disagree on implementing bitcoin because of the one reason and that's the bad image of bitcoin that it can be used on the illegal stuffs but such as the money right or the currency that we are using , so why they not legal it? , because of the lack of knowledge through bitcoin.

It is true that Cryptocurrencies are not yet legal but not banned, because this digital currencies were always followed to the rules and regulations of each country. Moreover there are no latest update regarding banning of bitcoin and other crypto currencies in France and India, but in China their door was still closed for the digital currencies. Otherwise South Korea was no longer prohibited the bitcoin and other crypto currencies, as per last update crypto currency trading was not totally ban in their county. See the link below that the finance minister of South Korea was not ban Cryptocurrencies.

http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-latest-updates-south-korea-trading-ban-finance-minister-cryptocurrency-a8186831.html

[Mainman08]

Bitcoin becomes illegal if one country pass a law that prohibits the use of bitcoins or getting involved in cryptrocurrency. I am glad that our country is not making a move to make bitcoin illegal.