Is Bitcoin Legal?

[Prinox2]

Even when some countries are still accepting bitcoin's legality, bitcoin is being adopted by other numerous countries as a legal-tender for the exchange of goods and services.

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[hispout]

The legality of bitcoin depends on who you are, and what you’re doing with it.

There are three main categories of bitcoin stakeholder. Someone may fall under more than one of these categories, and each category has its own legal considerations.

Bitcoin would naturally be in a legal basis. The problem lies with the person who would utilize bitcoins. So if bitcoins was use in dubious deals then that is the time it can be use in illegal means.  Also, every country had their own standpoint on how they view bitcoins.

Surely, it depends on the mentality of a person who is using bitcoin, if he uses it positively then it can bring many revolutionary changes in the society but if he uses it negatively then in spite of blaming the technology we should blame our own mass.

Even in those countries crimes are common where bitcoin is ban, it is not due to bitcoin it is due to the mentality of mass, so governments should educate the mass rather than banning bitcoin

[liquidX3]

The legality of bitcoin depends on who you are, and what you’re doing with it.

There are three main categories of bitcoin stakeholder. Someone may fall under more than one of these categories, and each category has its own legal considerations.

In most countries bitcoin does not have status legally. For example in my country i can use bitcoin but it costs nothing

[eCrypto]

Yes

[Carmen01]

Its legal that why were here.They authorized bitcoin so we can do post here like the services here in different ways.We can think of scam but the legalization of bitcoin is already happening because we can access this forum.I think you ask legal because the money here is digital yes bitcoin is legal and its continue to grow day by day

[janah]

To the best of our knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.

Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system. For example, the Financial Crimes Enforcement Network (FinCEN), a bureau in the United States Treasury Department, issued non-binding guidance on how it characterizes certain activities involving virtual currencies

[Steve991]

@Rahul.. But it surely depends on which country you are trading in.. right?

[Steve991]

f course bitcoin is legal because bicoin was like a company place be producing money for some people

Was it really a company? I mean a registered company you trying to say? And for whom were they making money and how? I am so confused

[play]

Its legal but some people using it in illegal way like buying drugs and weapons. but not sure anyway

[Lang09]

The legality of bitcoin depends on who you are, and what you’re doing with it.

There are three main categories of bitcoin stakeholder. Someone may fall under more than one of these categories, and each category has its own legal considerations.

You're right, that Bitcoin's legitimacy really depends on what we do. If you are using the BTC incorrectly, it becomes illegal in the human eye, But if you use Bitcoin in the right way, you will definitely be in the Cryptocurrency industry.

[turtoro]

Legality is declared by the state on where are you residing. If they so that bitcoin is legal, then the citizens have to consider it legal. And if the government will tell that bitcoin is illegal, then citizens should flee from bitcoin because they might face criminal offense for supporting it.

[ramayor]

It is really understandable that people will question about the legality of bitcoin. The relationship between Bitcoin and the law really depends on how the digital currency is being used and who used it. Example legal activity in bitcoin is when you use it to purchase well-natured goods and services. However, those who mine bitcoins and trade them for traditional currency or operate exchanges on which bitcoins are bought and sold are labeled “money transmitters” and could be subject to special laws that govern that type of activity.

[M_Haris]

It is just like the fiat currency, it depends on how you use it and for what purpose you use it. Every fiat and concurrency is/are legal till the business or transaction(s) associated with it is/are legal.

[M_Haris]

Perhaps it is considered illegal in some countries, check out this wiki link:
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

[coinstalker23]

It depends on where and what you are going to do or your business do. Selling illegal firearms and illegal drugs through bitcoin are remained illegal wherever you are in the world. Some Asian countries make it legal but some make it illegal.

[muddychowder]

Bitcoin is legal anywhere. As long as you still can purchase and process your Bitcoin for investment or traded, you can still consider it legal and unregulated.

[rosebrand]

of course legal, sometimes I wonder people are too busy with this problem, for those who do not like bitcoin will always issue arguments arguments against bitcoin, do not worry about it, most importantly we use bitcoin in a good way

[rhamzter]

Until now bitcoin are not totally legal but it is also not illegal, maybe it was lack of paper who supports to the legality of this crypto in each nation. But I was not lose hope that someday this coin will accept by the government of each country to the whole world. Because digital currencies is more easier to used compared in any other money or currency that circulate in the whole world.

[Fantina]

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[Lanatsa]

Until now bitcoin are not totally legal but it is also not illegal, maybe it was lack of paper who supports to the legality of this crypto in each nation. But I was not lose hope that someday this coin will accept by the government of each country to the whole world. Because digital currencies is more easier to used compared in any other money or currency that circulate in the whole world.

I don't know if any country would agree with that since Bitcoin is being made to fight the centralized system of the government. Exchanges now are supported by the banks and government and a lot of these exchanges are asking for personal information of the users. It will affect the anonymity of every users since the government is making a move to let everyone to know their identity because Bitcoin is so mainstream in ponzi scheme and scams.