Bitcoin legal and illegal countries

[Ailmand]

Good thing that our country is not against crypto and even some merchants are accepting cryptocurrency as a mode of payment which is really convenient. Our government is just making the public cautious in investing money since there are other people who are attracting newbies thru ponzi scheme. I hopr more and more countries would start adopting crypto.

[rafajunior99]

In the past it was possible that only a few countries had legalized this digital currency, because in some countries it still had a very large polemic to legalize it, so for that reason Bitcoin was not widely used, but for now, in several countries that had legalize Bitcoin as a digital currency, like in the United States, Japan, Denmark, Russia, Korea, Finland, their countries have legalized it, and there are also some countries that still make illegal Bitcoin such as Algeria, Bangladesh, Bolivia, China, Ecuador, India , Vietnam, Nepal.

[Artemis3]

Many countries in this list are in the same (neutral) position. technically not illegal, but still not embraced, or adopted. I can tell you the people from the central bank of one of the countries mentioned in the "legal" list don't like Bitcoin. That country is actually neutral, but they have an exchange "control" that you could technically violate using bitcoin (and several people do that). Unattended, this could lead to illegalization due to politicians being ignorant and fearful that their pretty "controls" are getting ruined (people out there that condemn the free market) by evil Bitcoin.

And my country isn't even listed which is even more hilarious, but lets ignore mine, satoshis are now worth more than our fiat anyway.

Your post was very interesting and then I checked and found out that you are from Venezuela.

What you are saying is correct. The national currency has got so much devalued, that it is now worth less than Satoshi. I am not very familiar with the legal status of cryptocurrency in Venezuela. I don't think that they have banned it in anyway. However I heard that they wanted to create their own crypto, named "Petro". So similar to many other countries, the legal status can be defined as grey (undefined). They haven't jailed anyone for using Bitcoin yet. So be cool and continue to use Bitcoin.

I think Petro has already been used by Venezuela in more than a year. This was their response to a spiraling value of their Bolivar, which they highly think as a result of subtle interference by western countries, particularly the United States. Right now, with a very high inflation and Bolivar almost left valueless, the rise of Bitcoin is apparent. Venezuela should be listed together with countries where Bitcoin is considered legal.

Its regulated in theory, and you are supposed to use a State approved exchange (which nobody does). I suppose the idea is that these exchanges are taxed.

Petro is separate, completely government controlled. You can sell your crypto for Petros, and they do require KYC.

You say we use Petro but that is not true, almost no one uses crypto of any sort, very rarely you see a shop or two accept bitcoin, dash or ethereum, but that's like 1 in a million.

The reason for hyperinflation is the old fashioned State abuse and manipulation of the currency. "Printing like there is no tomorrow" basically, and blaming anybody else, especially the "Evil American Empire", because that's the preferred rhetoric here (and yes, they use those words literally, to refer to the USA).

Truth of the matter is they ran out of money to keep paying wages and such and resorted to this. Sounds idiotic? It is. It became apparent in 2014, everyone warned Maduro but he didn't care and did it anyway. Not unlike Mugabe, with identical results. Some people act like that after they taste power, and they think they can control human nature by force, including the market, which they believe shouldn't be free but State controlled.

In the middle of this someone sold them the idea to make a token as a means to catch money, as many countries were refusing to give any more loans due to Venezuela being unable to pay back with anything but oil, and that production has reduced to a third of what it used to be a couple of decades ago (again, serious mismanagement). They did in fact manage to catch some money, which was wasted and probably used to fill their pockets as usual, the country is worse than ever, and Petro did nothing. You cannot compare it with Bitcoin, which indeed some people use for survival.

Bitcoin is not illegal and never was, not even before the gov got involved, but like in Ukraine authorities here abused the lack of legislation to extort, kidnap and ransom miners. Things changed a bit in the last two years but also this year the electric grid collapsed due to dire lack of maintenance and mass quitting of underpaid workers (and its a "State Socialist company", go figure).

And yes, there are rumors some of the gov people actually mine themselves, they have shown "someone's" mining farm before on State TV. With most of the country having frequent (and in many places long) blackouts, brownouts, and several short interruptions, pretty much guaranteed to burn anything you plug without some sort of delay line conditioning protection.

[kayvie]

Bitcoin countries to get legitimacy:

Solvenia, Switzerland, Ukraine, Denmark, Estonia, Finland, Iceland, Lithuaia, Norway, Russia, Sweden, Bosia & Herzegivina, Bulgaria, Greece, Italy, Malta, Portugal, Spain, Belgium, France, Ireland, Luxembourg, Netherlands, United Kingdom, Australia, New zealand, Morocco, Nigeria, South Africa, Namibia, Zimbabwe, Canada, United States, Mexico, Nicaragua, Jamaica, Trinidad and Tobago, Argentina, Brazil, Chile, Colombia, Cyprus, Israel, Saudi Arabia, Jordan, Indonesia, Malaysia, Philippines, Singapore, Thailand, Croatia, Czech Republic, Germany, Hungary, Poland, Romania, Slovakia, Vietnam, Lebanon, Turkey, Iran, India, Pakistan, China, HongKong, Japan, South Korea, Tuiwan .


Bitcoin Cancellation Countries:

Algeria
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal
Cambodia...

Can you please share us the source of this, Our country is indeed in the list to get legitimacy but I still want to know the source.

Good thing that our country is not against crypto and even some merchants are accepting cryptocurrency as a mode of payment which is really convenient. Our government is just making the public cautious in investing money since there are other people who are attracting newbies thru ponzi scheme. I hopr more and more countries would start adopting crypto.

The same in our country, government is not against bitcoin, they focus more on major problems than spending money to stop bitcoin from circulating in our country. They just make a few announcement to aware the public from investment scam.

[ivakar]

ok, I'm living in Kyrgyzstan, the country banned bitcoin..
so what? there is no change for me like before and after the ban. I can sell and buy bitcoins through the same channels as before..
so how was is said  : the strictness of the laws is compensated by the non-binding nature of their execution 

[agentx44]

Bitcoin is becoming popular day by day. Reduce people's interest in easy transactions and price Rise. Some countries questioned the legitimacy and questioned. However, many countries of the world have given legitimacy to Bitcoin. We need to know about this issue for those new people. Those who did not know what to expect and would benefit them. Bitcoin has been given the list of validity and cancellation.

Bitcoin countries to get legitimacy:

Solvenia, Switzerland, Ukraine, Denmark, Estonia, Finland, Iceland, Lithuaia, Norway, Russia, Sweden, Bosia & Herzegivina, Bulgaria, Greece, Italy, Malta, Portugal, Spain, Belgium, France, Ireland, Luxembourg, Netherlands, United Kingdom, Australia, New zealand, Morocco, Nigeria, South Africa, Namibia, Zimbabwe, Canada, United States, Mexico, Nicaragua, Jamaica, Trinidad and Tobago, Argentina, Brazil, Chile, Colombia, Cyprus, Israel, Saudi Arabia, Jordan, Indonesia, Malaysia, Philippines, Singapore, Thailand, Croatia, Czech Republic, Germany, Hungary, Poland, Romania, Slovakia, Vietnam, Lebanon, Turkey, Iran, India, Pakistan, China, HongKong, Japan, South Korea, Tuiwan .


Bitcoin Cancellation Countries:

Algeria
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal
Cambodia...

Our country faced plenty of issues regarding crypto but it just lasted for a few months, the government before were trying to have a hold on bitcoin but now, after the sudden downfall of its price, they are back to ignoring the existence of crypto. I actually like it that way but I am worried that when bitcoin's price comes back up, the government would again start giving regulations on it.

[Cheesus]

Bangladesh government decides to open the door for the Blockchain within next year. The PM already announced it. It seems in Bangladesh, Cryptocurrency will be regulated, but still, this is very good news. I believe soon or later, all countries will accept cryptocurrency and they will adopt with Blockchain technology.

[doomistake]

Actually it is very difficult for every country to legalize bitcoin as a means of payment, and these countries do not want to destroy their currencies that they have long applied

I hate this kind of thinking to be honest. The Government should be the one who is flexible or open minded when it comes to new things in the modern world, but what's happening for most of the Government is they are doubting bitcoin even though they don't know the whole story about it. First impressions are always wrong, so I'm always wondering when will be the time where all of the Government will have the same mindset like Japan and other countries who legalized bitcoin and implemented it to be use in every day living.


Government here in our country in narrowminded to ignore such gorgeous inventions like Bitcoin. It is sad, how government concluded already that cryptocurrency is not safe because of the majority saying it is just a scam, I pity their poor souls and small brains.

[Lmaooo]

You should add this two communist countries, that didn't accept and banned bitcoin which was reported last year. China and Vietnam.

Yes, Why not put China, Russia, Sweden, Thailand, Iceland, and India among the cancellation list?
Based on the information found on ccn.com (popularly known as CryptoCoinNews) these countries all banned the use of bitcoin openly.

CCN | https://www.ccn.com/top-10-countries-bitcoin-banned/

[mdzahed134]

Bitcoin is illegal in Bangladesh but in this month i see this article https://www.thedailystar.net/bytes/world-first-blockchain-smartphone-be-launched-in-bangladesh-1797703
Here i found Switzerland based Sirin Lab's will be launched world first blockchain smartphone in BD. Even in the running years Bangladesh National Budget, Government interested to work with Blockchain platform and good amount dollar already reserved for that. I think this is very positive thing.              

[johnpaul94]

In my country Nigeria, there has been a massive upsurge in the knowledge and usage of crypto and this is as a result of platforms like this that promote and give a depth of understanding of crypto. People fear what they don't understand. The more the decimation of information, the lesser the fear of the unknown. I really believe it would soon be legalised in Nigeria because it is being embraced by a great number of the  populace.

[UsernameBitcoin]

they can try to illegally eyes Bitcoin, but they will never succeed. The technology doesn't allow for it to be blocked or banned. Anyone can download a crypto wallet on their phone, and start buying and selling Bitcoin. Yes it may be more difficult in some countries, but where there's a will there's a way.

[skyline247]

In my country Nigeria, there has been a massive upsurge in the knowledge and usage of crypto and this is as a result of platforms like this that promote and give a depth of understanding of crypto. People fear what they don't understand. The more the decimation of information, the lesser the fear of the unknown. I really believe it would soon be legalised in Nigeria because it is being embraced by a great number of the  populace.

Yes that's because most Nigerians these days are scammers. They can't resist scammer game, and they need that big point at their nefarious activities. It's all right, well, not really but the current politicians lack competence to stop it so it is what it is.

[voltesbit777]

Actually it is very difficult for every country to legalize bitcoin as a means of payment, and these countries do not want to destroy their currencies that they have long applied

I hate this kind of thinking to be honest. The Government should be the one who is flexible or open minded when it comes to new things in the modern world, but what's happening for most of the Government is they are doubting bitcoin even though they don't know the whole story about it. First impressions are always wrong, so I'm always wondering when will be the time where all of the Government will have the same mindset like Japan and other countries who legalized bitcoin and implemented it to be use in every day living.


Government here in our country in narrowminded to ignore such gorgeous inventions like Bitcoin. It is sad, how government concluded already that cryptocurrency is not safe because of the majority saying it is just a scam, I pity their poor souls and small brains.

Today many more countries are not yet open-minded and ready to accept the bitcoin and cryptosystem, as they are still closed. Even if the country recognizes blockchain technology maybe the time will come when they will also realize that blockchain technology will be of great help to every government in the country. Thank goodness I even accept the country where I own Bitcoin and crypto.

[Reatim]

Bitcoin is becoming popular day by day. Reduce people's interest in easy transactions and price Rise. Some countries questioned the legitimacy and questioned. However, many countries of the world have given legitimacy to Bitcoin. We need to know about this issue for those new people. Those who did not know what to expect and would benefit them. Bitcoin has been given the list of validity and cancellation.

Bitcoin countries to get legitimacy:

Solvenia, Switzerland, Ukraine, Denmark, Estonia, Finland, Iceland, Lithuaia, Norway, Russia, Sweden, Bosia & Herzegivina, Bulgaria, Greece, Italy, Malta, Portugal, Spain, Belgium, France, Ireland, Luxembourg, Netherlands, United Kingdom, Australia, New zealand, Morocco, Nigeria, South Africa, Namibia, Zimbabwe, Canada, United States, Mexico, Nicaragua, Jamaica, Trinidad and Tobago, Argentina, Brazil, Chile, Colombia, Cyprus, Israel, Saudi Arabia, Jordan, Indonesia, Malaysia, Philippines, Singapore, Thailand, Croatia, Czech Republic, Germany, Hungary, Poland, Romania, Slovakia, Vietnam, Lebanon, Turkey, Iran, India, Pakistan, China, HongKong, Japan, South Korea, Tuiwan .


Bitcoin Cancellation Countries:

Algeria
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal
Cambodia...

Any update about these countries status?i have a friends in some part of several countries mentioned and I am encouraging them to study and consider investing in cryptocurrency but the problem is the legitimacy of their places so updates from this is much appreciated

In my country Nigeria, there has been a massive upsurge in the knowledge and usage of crypto and this is as a result of platforms like this that promote and give a depth of understanding of crypto. People fear what they don't understand. The more the decimation of information, the lesser the fear of the unknown. I really believe it would soon be legalised in Nigeria because it is being embraced by a great number of the  populace.

There are some thread here in forum that talks about the Nigerian population for crypto investing is growing continuously,maybe that’s because of the government stands about this market

[joshv06]

Well this really sucks, digital currency is sure for the next generation the government need to come forward and take initial steps to make it legal, yes a lot of country are still not accepting crypto currency as a legal one but they should have some rules and regulations like do's and don't. If this works well and good people will cope according to the instruction.


Especially in some big populated countries like India where the crowd is in big numbers if they start accepting crypto the value coins will sky rocket again.

[UstadSoleh]

By reading the data you provide that Bitcoin is indeed a trend. We know that this Bitcoin can give people a lot of work that is capable of generating great profits. Especially in today's digital era, many people would prefer it to work online. Bitcoin is an excellent choice in developing your business world.

Bitcoin will definitely add to the industry quality. Governments should be able to manage Bitcoin so that it will attract more investors. And hope that the whole world can develop Bitcoin.

[XCANA]

When my country legal bitcoin? so far I am glad with my country still allowed bitcoin as investment or using for trading way but not legal become payment transaction only, by the way I want to travel to other country have legal bitcoin as Bolivia, Japan and other country.

For you to travel out of your country which doesn't called bitcoin illegal may just be a waste if resources, if you ask me.
My own country has not place bitcoin as illegal, so, I still go about my usual ways in doing transaction. Although the government here has not legalize bitcoin but still yet not illegal, I think there will be no need to find refuge else where in order to spend my starch of cryptocurrency.

[DoublerHunter]

It is just sad knowing a lot of countries banned bitcoin. Although it was indeed a great opportunity for the individual, and for country itself as well. Well, bitcoin is a big risk on the other but a big opportunity has a big risk as well, we should sacrifice in order to gain back. I just wondering what made them block this great opportunity besides from the risk of losing money, and as well the unwell purpose of use.

^ Probably they will realize soon how bitcoin useful in economic growth and also how useful the system behind on this bitcoin or in crypto in general. Probably it is because there are some countries who that don't trust bitcoin and other cryptocurrencies the reason why some countries don't allow or banning bitcoin it just because they believe that it is a threat to the government and also some people use it in their illegal transactions most especially in the dark web( which government afraid of).

[cutesgirl]

Maybe you get wrong source information about legal country for bitcoin, all of your statement about legal country above is not true, so far only Japan, Philippines have make bitcoin become legal transaction and India have banned and blacklist bitcoin not only for selling but also as investment assets.