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Author Topic: Is Bitcoin Legal?  (Read 3956 times)
jhongzjhong
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March 07, 2018, 03:18:37 PM
 #161

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.
If in my country Bitcoin is not yet legalized, but the Government in my country still allow its citizens to have Bitcoin and only prohibit it to be used as a transaction tool. So Bitcoin is still legit in my country.
Here it is considered legal because there is no regulation stating that it is illegal, so we are free to do what we want for as long as we are not fooling people to do investment in it, or to make an investment scam because we do have law regulated for the protection of everyone especially investors.
The same as here, since our country recognized bitcoin from our Central Bank as one of a currency payment and making a transaction as a virtual money we all concluded that bitcoin is not illegal here besides many people now embracing bitcoin because of the asset of bitcoin being profitable when you invested. But fooling people was really prohibited here and have a punishment when you are being caught and have strong evidence on you and that is part of cybercrime law and money laundering.

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March 07, 2018, 04:12:02 PM
 #162

Yes bitcoin is totally legal, only that there are no official ways to proove that if you withdraw your profits to your bank account, those funds are for bitcoin, because it happened to me.

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March 08, 2018, 09:42:26 PM
 #163

Bitcoin and crypto currency in general is legal in some country and illegal in some other countries.  So all depends on the country you are trying to refer the issues of whether is legal to, although the numbers of country that accept crypto currency as a legal tender is insignificant.

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March 09, 2018, 04:58:38 PM
 #164

Bitcoin and crypto currency in general is legal in some country and illegal in some other countries.  So all depends on the country you are trying to refer the issues of whether is legal to, although the numbers of country that accept crypto currency as a legal tender is insignificant.
It is  considered legal to some countries because there is tax regulated on it, but also a lot of countries are banning it due to different reasons some just like China does not want this thing because they planned to have their own which they want Chinese to invest at and not in bitcoin, some still thinks that it was just a scam.

                                 
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March 11, 2018, 01:53:34 PM
 #165

some country yes, but mostly not. its depends on what country you live because in every country has different ways on how they accept bitcoin. number of countries dont make bitcoin as legal but they are open minded about cryptocurrency. they dont banned bitcoin as long it will not use in a crime.

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March 11, 2018, 01:58:01 PM
 #166

bitcoin is legal in major countries.
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March 11, 2018, 02:17:38 PM
 #167

Bitcoin is legal. Here in philippines, the central bank do not endorse cryptocurrencies such as bitcoin, yet they regulate cryptocurrency when used for financial services. Businesses are allowed to do virtual currency exchange provided that they will follow the guidelines set forth by the central bank of the philippines. These guidelines was enforced to manage the risk involved with cryptocurrencies.
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March 11, 2018, 02:39:43 PM
 #168

Yes it is legal, however, some government doesnt allow crypto exchanges in their country. There are some countries who already banned cryptos because of the financial risk that it can cause to its holders and users because they believe that these cryptos can be used on illegal activities. Every country have their own regulations when it comes to crypto use and exchange.
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April 16, 2018, 12:23:12 PM
 #169

bitcoin is of interest to law enforcement agencies, tax authorities and also legal department of the country, all of them try to understand how the cryptocurrency fits into the existing legislative framework. the legality of bitcoin of activity will depend on the one who you are, where do you live, and that, what are you doing with bitcoin.

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April 16, 2018, 01:07:45 PM
 #170

Bitcoin is legal but some other people do something to make it illegal.
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April 16, 2018, 04:58:41 PM
 #171

Bitcoin is legal but some other people do something to make it illegal.

yess, recently Bitcoin in my country is legalkan, but some others could have done something to make it illegal. suppose in a cheating and fast way
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April 16, 2018, 05:57:40 PM
 #172

bitcoin is legal in major countries.

In major countries bitcoin is still in the dilemma stage as their is no clear guidelines being stated if they have banned it or accepted it. They still are figuring out if should be allowing it completely or should bring under some regulation so that they can control to an extent.

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April 16, 2018, 08:16:37 PM
 #173

bitcoin is legal in major countries.

In major countries bitcoin is still in the dilemma stage as their is no clear guidelines being stated if they have banned it or accepted it. They still are figuring out if should be allowing it completely or should bring under some regulation so that they can control to an extent.

Agreed with you mate just like here our country they did not put any law regarding cryptocurrencies besides they are recognized bitcoin as a kind of payments method that using blockchain technology. And they warn people just be aware that it is may lead to a possible scam.
So, not all countries are the same policy regarding bitcoin.

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April 17, 2018, 04:46:19 AM
 #174

Well for me its really legal. Because according to the U.S. Treasury Department’s Financial Crimes Enforcement Network, as of 2013, using bitcoin to purchase well-natured goods and services is not illegal. However, those who mine bitcoins and trade them for traditional currency or operate exchanges on which bitcoins are being transmitted by money and could be a subject to special laws that govern that type of action. Bitcoin is the future fellas

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April 17, 2018, 06:46:34 AM
 #175

Yes, It is

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April 17, 2018, 01:18:39 PM
 #176

for people who have jumped into bitcoin means he already think bitcoin is legal
If we talk about the country they live in, does their country bother the bitcoin for them?

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April 22, 2018, 12:08:43 PM
 #177

For now only the Japanese government is legalizing bitcoin, and broadly speaking bitcoin is not really a matter of legal status or not, but every country has its own opinion about bitcoin.

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April 22, 2018, 12:28:36 PM
 #178

To date only Japanese countries have legalized bitcoin, and in my country have not legalized yet, and I expect bitcoin to be legal in every country.

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April 22, 2018, 04:33:01 PM
 #179

Still there are some countries that aren't implementing bitcoins , such as my state which is philippines still the government are debating and setting up some regulation on implementing bitcoin , well us filipinos are looking forward to be legalize bitcoin , sooner or later though , can't wait.

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April 28, 2018, 05:16:11 PM
 #180

We can assume that if bitcoin is not banned in your country of residence, then it is legitimate. In most countries there is a rule fixed in civil codes that if a transaction is not directly prohibited, then it is legal, that is, there is a presumption of legitimacy of transactions. From this it follows that if bitcoin and other crypto currency are not yet legalized in your country, they should be considered void.

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