Bitcoin: the legality
BTC has long been no novelty for the modern world: the population managed to be frightened three times, to be surprised, to invest, to go out in plus (or to burn if they were not patient). All this time, governments around the world didn't know what to do with this breakthrough in the digital economy. What measures might be used in relation to a decentralized system? The absence of a responsible party created conditions for the development of a positive trend: in the worst case, Bitcoin is prohibited by government decree, at best - is accepted as a legitimate means of payment. If we speak averaged, at the moment we can see the following situation - in most countries draft laws are being developed to regulate the status of cryptocurrencies in particular in relation to BTC. You should also be aware that often what is prohibited to banks in relation to bitcoin is allowed to individuals. For example, you can buy some goods in Japan for bitcoins, pay taxes, or use of your BTC-wallet in China, if you are an individual. The most favorable situation for the use of cryptocurrency has emerged in Switzerland: there it legally treated as foreign currency. At the moment the progressive part of humanity is beginning to be more loyal to cryptocurrencies, which undoubtedly affects legal position of bitcoins. Based on the measures taken in relation to cryptocurrencies in certain States, we can divide them into two conditional groups - the first should include those countries that develop draft laws to regulate the status of Bitcoin or at least do not prohibit It:
1) Australia, Belgium, Brazil, Canada, Colombia, Croatia, Czech Republic, Cyprus, Denmark, France, Germany, Hong Kong, Israel, Italy, Japan, Ukraine, New Zealand, Norway, Poland, Singapore, Slovenia, South Korea, Spain, Switzerland, Sweden, Turkey, United Kingdom, United States etc.
In the second conditional group we composed countries that restricted the use of cryptocurrency on their territory, or even prohibit operations with it:
2) Bangladesh, Bolivia, China, Ecuador, Iceland, Indonesia, Kyrgyzstan, Lebanon, Russia, Thailand, Viet Nam, etc.
The situation is constantly changing, and where yesterday was anarchy, today came into force bills that restore order in the sphere of cryptocurrency. Time will tell whether it is good or bad.
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