Is Bitcoin legal?

[jacktheking]

Some countries in the world such as bangladesh, singapore, thailand assume that the use of bitcoin is illegal. The main reason for this ban is due to the uncertainty of the value of this digital currency. Another reason is the fear that the digital currency is used as a financing for terrorism

Where on the internet or news did you heard that Bitcoin is illegal in Singapore? It's just that the government is warning people not to invest in Bitcoin as it seem like a hype train. They didn't ban the use or trade of Bitcoin here. In fact, Singapore is a tech-savvy country.

[WillowEvul]

It follows this logic: neither legal nor illegal in most of the countries. In terms of law, if something is not prohibited by law, than it's legal. The question is 'but what if there is no legal act?'. Well, let's say you throw a cigarette and there is no law punishing that. A policeman comes and says you need to be punished and you ask for the legal act that you have broken. It does not exist, so obviously you did not break anything. The same applies to bitcoin.

In Japan it is legal, because there is a law about cryptocurrencies making them legal. In South Korea, it is legal but you need to identify yourself. Some other countries may just ask the holders and traders to identify themselves, so that they can track the illegal usage of cryptocurrencies. Otherwise, i don't think governments will totally ban bitcoin.   

[Garret44eza]

Yes its a complex question having even complexer reason which I don't know LOL

[MuffinMaster]

I knew that there are a great many of people in my country use Bitcoin but I dont know whether Bitcoin is legal or not?

You need to read about it on internet cause it depend where you are living, in 100% you will find info about bitcoin legal or not in almost whole countries on net.

[kiboesse]

in some countries, bitcoin may already be legal
but in my country considered ilegal.
but I'm sure that bitcoin is a great opportunity to earn an income

[Stusha]

Many countries have issued statements indicating that bitcoin and other digital currencies are not regulated and do not exist as officially sanctioned currencies: a status that could put users at risk but would not have them violating any laws. Bitcoin is outright illegal in some countries, such as Iceland.

[Dudeperfect]

Bitcoin is not legal yet in most of the countries but that doesn't mean that it's illegal. However, if you are using Bitcoin (or any other thing) for illegal activities like weapon trading or drug dealing then it will be considered as illegal activity irrespective of the legality status in your country. Governments are still in the wait and watch mode and they are doing a research to roll out regulations regarding it.

[treatWy]

I knew that there are a great many of people in my country use Bitcoin but I dont know whether Bitcoin is legal or not?

Hello. Please refer to the link provided. Hope you will learn.

Is bitcoin legal?
https://bitcointalk.org/index.php?topic=1138608.0

Is bitcoin legal
https://bitcointalk.org/index.php?topic=1052222.0

[LienTHETRADER]

Because legalisation of btcs will turn down tax incomes and base income of Govt and fiats so they will never be made legal

[MondayTraddd]

I think the growing access of hackers and terrorists in btc ecosystem might have forbidden govt to take such steps

[AngryToken]

Yes it is legal, but in some countries it is illegal they consider it illegal

[grseraph]

Well on the one hand some countries claimed bitcoin to be illegal, while on the other hand bitcoin should not be defined by the current law systems.

[O$IRIS]

It strictly depends on the jurisdiction that you're residing in. For example in Venezuela - it's considered illegal while they are launching their own "cryptocurrency" called Petro. 

[Irene80]

As I read in several sources, bitcoin still not accepted in specific countries, but somehow in some countries allows the individuals and business to work legally with bitcoins and other cryptocurrencies.

[Indiast3]

I didn't heard it has been illegal in any country, its just not legal but that does not means its illegal

[kaizie]

The legalization of bitcoin depends on the country in which you live. There are also many countries that bitcoin is already used and it is legal. Like in the country of United states, canada, china, hongkong, japan, thailand, Singapore and much more. But there are some countries considered bitcoin are illegal and there are against of using it like Bangladesh, bolivia, algeria with a designated penalty that if  you do not obey their law they can bring you to jail.

[amaydel]

If many people uses bitcoin in your country, that means it's legal. And even if your country bans bitcoin and the rest of cryptocurrencies, bitcoin is still LEGAL at all means. There are just countries that ban cryptocurrencies because it is against their government rules and thus, not so open minded to embrace the technology.

[trademaniac]

if you manage to pay tax on the sale of Bitcoins to the tax bracket, then everything will be fine.

[loku123]

I think it depends on your country. Because some countries' government prohibited them.

[George Khelashvili]

I knew that there are a great many of people in my country use Bitcoin but I dont know whether Bitcoin is legal or not?

where you from?