Not Yet Legal But Not Banned

[Gozie51]

It won't be legal until a big and influence country make an announcement to legalize bitcoin as a new currency that safe for any payments (online or offline). They can't do that because it's too complex to be a real currency.
Yeah, just enjoy it for now.

Yes, I see that is what the world is waiting for. Some countries are waiting for some highly industrialised countries to make a moving statement on the legality of bitcoin. Some countries can't just move out of the colonized mentality and work differently on their own despite how highly tech they themselves are! We wait and see how it is playing out.

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[Larsius]

But you can not buy 20 million yachts and expect no one to ask you where this money came from.
You have different taxes for different things.

[Lanatsa]

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

Theres no major rule actually that we are trying to follow on here when it comes to bitcoin.The thing here is that every country has its own perspective and has its own rules it either they would decide if bitcoin do able to violate their rules or not but most of the time we do see on neutral side which they cant decide either they would adopt it or not.They cant decide up yet and for sure they are thinking on its advantages and disadvantages If they do decide to engage with it.

[qwerty12]

That's right, I totally agree with that.
Bitcoin and other cryptocurrencies are new technological innovations that have not been fully implemented into the legal framework in many countries around the world. There are many legal aspects of Bitcoin and cryptocurrency that need to be considered.

[superjeyy]

This is the perfect way to describe the current state of Bitcoin here in our country: not yet legal but not banned. However, there has been some news circulating around that our central bank is initiating the usage and acceptance of cryptocurrency for transactions in the near future. Knowing how my country works, there is still a chance that this won't push through and a part of me wants that to happen. I do want my country to develop and show progression when it comes to innovative ventures but based from my experiences and how the government is ran here, there would be a high chance that the cryptocurrency would pave way to the worsening of corruption. People of power here are very hungry and I am sure that they wouldn't let cryptocurrency live at peace especially since it's very profitable. I think that if Bitcoin was legalized, the taxation would be extreme but it wouldn't be worth it since we don't even know where our taxes go here. The "not yet legal but not banned" state is a pretty good state to be in right now. Maybe when the government starts to not be selfish then we can consider the involvement of cryptocurrency in our country.

[svendoto23]

Some governments and facilitators on market are being skeptical on how to regulate the cryptocurrency on their own country because they don't really see how it can help or even affect their countries economy on this bitcoin and cryptocurrency hype.

[Ghondronk]

At a glance, bitcoin is a promising investment ground. Finally, many who flocked to buy bitcoin for sale again when the price is soaring.

Because it does not have a central server and no regulation is regulated, bitcoin transactions can be done at will. Of course as long as you have a bitcoin virtual account or wallet. No taxes will be charged to us, like when transactions through a particular financial institution.

[btrice7]

"Not Yet Legal But Not Banned" I think it will always be like this and this is good for crypto and for us..

[Budugbass]

For me personally i just thought as long as it's not really prohibited completely in my country, which obviously i will take utilize of that opportunity to gain some profits. But it's not mean aiming to avoid a taxes, i just feel.. i'm already feel benefited by bitcoin, and this is a good opportunity to be taken.

[elisabetheva]

Almost all countries do this kind of thing "Not Yet Legal But Not Banned", but admittedly it will also have its own difficulties by making new rules, but there is also a loss that the tax value that should be taken can not be done.
indeed very confusing for something like this, I just enjoy this.

[MetalBall]

They are being hesitant because they don't know what and how can Bitcoin and Altcoins can do to the future of their economy so they are just being careful, It can be helpful or hurt the current economy so they are just standing by and thinking on how they approach this new kind of technology.

[stomachgrowls]

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

Theres no major rule actually that we are trying to follow on here when it comes to bitcoin.The thing here is that every country has its own perspective and has its own rules it either they would decide if bitcoin do able to violate their rules or not but most of the time we do see on neutral side which they cant decide either they would adopt it or not.They cant decide up yet and for sure they are thinking on its advantages and disadvantages If they do decide to engage with it.

I have the same thoughts regarding with this which is actually true on where even we do see countries who do ban and regulate bitcoin there still some parts of the world still undecided either they would accept or will go the same path with countries who do ban it.If the place is welcoming new innovations the possibilities or higher chance of bitcoin to be regulated is there.We cant fast paced the time on what we do want for bitcoin yet each country do have thier own jurisdiction.

[smhome354]

Sometimes it is better if the government will not interfere with investment vehicles. This avoid taxes that investors will endure. But the cons if an investment is not regulated is that it is harder to recover if the investment turned out to be a scam.

[preelee04]

Yes, i agree with this. This is the gteat way to describe the current state of bitcoin here in our country: not yet legal but not banned.

[really01]

I think Bitcoin and the other coin are really only recognized when its associated with real applications. and have a better tax defining tool.

[JC btc]

I think Bitcoin and the other coin are really only recognized when its associated with real applications. and have a better tax defining tool.

Just like here in our country wherein it is already widely acceptable by most people despite the negative media surrounds it although it is not yet totally legal and there is no law regulating on it yet but at least it is not banned and can do anytime and anywhere without any thinking that you are doing wrong.

[zmkriel]

It won't be legal until a big and influence country make an announcement to legalize bitcoin as a new currency that safe for any payments (online or offline). They can't do that because it's too complex to be a real currency.
Yeah, just enjoy it for now.

The thing is...Bitcoin is supposed to be a decentralized beast away from the hands and control of the government and when a government will try to put regulations on it for whatever reason valid or not then you can be sure that there would be some compromises along the way...though that is a big reality we have to dealt with. Sometimes we can not escape present-day realities in connection with Bitcoin. However, we already have a good model in Japan for this...hope other countries can follow soon.

Very well said. Many of us who is connected to bitcoin felt safe for having a decentralized currency and not being controlled by the government but unfortunately if the government will take part of it, we cannot do anything but just to accept with what kind of laws their going provide with crypto currencies. All we can do is to hope that it is not too much for us to handle.

[Sony.UK]

This is the perfect way to describe the current state of Bitcoin here in our country: not yet legal but not banned. However, there has been some news circulating around that our central bank is initiating the usage and acceptance of cryptocurrency for transactions in the near future. Knowing how my country works, there is still a chance that this won't push through and a part of me wants that to happen. I do want my country to develop and show progression when it comes to innovative ventures but based from my experiences and how the government is ran here, there would be a high chance that the cryptocurrency would pave way to the worsening of corruption. People of power here are very hungry and I am sure that they wouldn't let cryptocurrency live at peace especially since it's very profitable. I think that if Bitcoin was legalized, the taxation would be extreme but it wouldn't be worth it since we don't even know where our taxes go here. The "not yet legal but not banned" state is a pretty good state to be in right now. Maybe when the government starts to not be selfish then we can consider the involvement of cryptocurrency in our country.

This statement opts to my country as well. Crypto is not yet legal but not banned. We have traders and crypto users around but they are let free as of now. But recently few were caught to pay tax to their crypto earnings.

We now Hera good news on launching new crypto coins.  This is the sign of allowing crypto in the country.

[Zabrielle]

Right, its “not legal but not banned” in my country. They said  Bitcoin has been banned in an Asian counties, i guess not all Asian countries. Im from Asian countries but i dont heard any problem with Bitcoin in my country so far. Its the best desrciption of the status of bitcoin in my country. And i think the governement is working on its legalities, studying the right way to exercise the taxes on bitcoin and other cryptocurrencies.

[onebtcforlife]

Right, its “not legal but not banned” in my country. They said  Bitcoin has been banned in an Asian counties, i guess not all Asian countries. Im from Asian countries but i dont heard any problem with Bitcoin in my country so far. Its the best desrciption of the status of bitcoin in my country. And i think the governement is working on its legalities, studying the right way to exercise the taxes on bitcoin and other cryptocurrencies.

Media and people are misleading us because there are many major countries not banned the Bitcoin but people are propagating the negative news about the Bitcoin has banned in Asia. Not only in Asian even in my country "not legal not banned". Our country is waiting for other government because our government will follow according to the rules of the US.