What is the legal status of Bitcoin in your country?

[spyderbilt]

in my country not completely ban crypto especially bitcoin. in my country it is allowed to use bitcoin only for trading, but it cannot be used for direct transaction systems like money. so if you want to buy anything you have to exchange bitcoins to my country's money, then I can make transactions

[suryana]

So far, bitcoin is not regulated nor restricted in our country. During the bull run last 2017, the government felt like cryptocurrency was a threat to the country that's why they had plans of banning the use of it. After just a year, they have forgotten about it since bitcoin's value also went down continuously. Fortunately, right now, they don't have an eye over it and they just let people mine as much as they can and invest in cryptocurrency. Maybe once crypto booms again, they will notice it once more and will make an action about it once again.

It's the same in our country. There is no prohibition until the limit is imposed. However, the government has stated that bitcoin is not a legal tender in our country. But I don't know what the government's plan is, I hope it will remain free like this without any significant restrictions.

[nightxglow]

In my country, Indonesia, the legality of bitcoin is still quite confusing. But one thing for sure, bitcoin is not considered as a legal currency in my country since the legal currency that can be used in Indonesia is the one that is officially issued by the government, which is Rupiah. So, bitcoin is not a legal currency yet, maybe we can considered it illegal. However, it's not like government banning everything related to bitcoin. Even, Bitcoin is legalized by the Ministry of Commerce through the Commodity Futures Trading Regulatory Agency. So i guess it's legal as a trading commodity, however not as a currency.

[Kittygalore]

In my country, Indonesia, the legality of bitcoin is still quite confusing. But one thing for sure, bitcoin is not considered as a legal currency in my country since the legal currency that can be used in Indonesia is the one that is officially issued by the government, which is Rupiah. So, bitcoin is not a legal currency yet, maybe we can considered it illegal. However, it's not like government banning everything related to bitcoin. Even, Bitcoin is legalized by the Ministry of Commerce through the Commodity Futures Trading Regulatory Agency. So i guess it's legal as a trading commodity, however not as a currency.

I can say the same for the Philippines, our government is too busy being in power instead of dealing with the issues. Which for me is a good thing, no taxation for big profits in my crypto and it's not regulated meaning that we can do anything we want but it should still be in the realm of legality.

[conected]

in my country bitcoin there is no law not many people know about bitcoin they only hear the name bitcoin but they don't know the use of bitcoin and in my country bitcoin is not valid for legal exchanges we use bitcoin we must first exchange it into currency.

- These lands seem to be holding hands by telepathy, I mean even without conducting in-depth legal and bitcoin talks, countries have basically exhibited a common face, ignore legal regulations but do not propagate or contribute any support for bitcoin in the current context, bitcoin is not subject to the light of the law and their users are entitled to the same conditions, solving problems separately from each other and not touching the common law system. It is also not easy to exchange for currency when the support networks are so numerous and confusing and the scammers are very professional here.

[Shasha80]

in my country not completely ban crypto especially bitcoin. in my country it is allowed to use bitcoin only for trading, but it cannot be used for direct transaction systems like money. so if you want to buy anything you have to exchange bitcoins to my country's money, then I can make transactions

Indeed, most countries that legalize Bitcoin are only digital assets, Bitcoin cannot be used for payments. Because the government is
still being careful  with Bitcoin, because some countries still consider Bitcoin a threat to the existence of fiat. Even though it's just
an excessive concern in my opinion, because Bitcoin was created as an alternative payments from the start. I actually really hope that
as more countries legalize Bitcoin as payment, it will make the financial sector more innovative. But in the near future, Bitcoin is indeed
accepted as a digital asset, we should be grateful, than Bitcoin is prohibited from being used at all.

[noorman0]

in my country bitcoin there is no law not many people know about bitcoin they only hear the name bitcoin but they don't know the use of bitcoin and in my country bitcoin is not valid for legal exchanges we use bitcoin we must first exchange it into currency.

Come on, what are you talking about?
I see that your base is Indonesia (based on post history). Our country has a clear legal status regarding the use of crypto. I think there are many topics about legal information on the Indonesian board, for example [1] [2]. You have to read a lot dude instead of throwing messy opinions

[mrongos]

what is the law of bitcoin in your country,, for now in my country bitcoin is still banned by the government, we can't do much with bitcoin, our movement is still limited, you can say bitcoin in my country is still illegal, but I'm sure with the development of bitcoin, one day bitcoin will definitely be well received in my country..

[mrongoz_imut]

Actually, Bitcoin was once considered an illegal transaction tool in my country Indonesia. In a press release issued by Bank Indonesia in 2014, it was stated that Bitcoin and other virtual currencies are not legal currencies or means of payment. However, over time, Bitcoin is starting to be accepted in my country, Indonesia. The Ministry of Trade (Kemendag) through the Commodity Futures Trading Regulatory Agency (CoFTRA) has provided legal certainty about Bitcoin in Indonesia, but the government in my country still has not accepted any exchange in the form of crypto.

[amihada]

in my country bitcoin there is no law not many people know about bitcoin they only hear the name bitcoin but they don't know the use of bitcoin and in my country bitcoin is not valid for legal exchanges we use bitcoin we must first exchange it into currency.

we bitcoin miners use this opportunity as best we can because the government in our country does not understand bitcoin if one day the government prohibits bitcoin like china then we already have assets for us to save.

[BigBos]

In my current country, the status of cryptocurrencies should not be more than a type of investment. So, we can't use it as a medium of exchange or transaction. In addition, there are several regulations that say that crypto is a type of investment with high risk, and at your own risk. Well, I quite like the regulations because at least, there are still many countries that ban cryptocurrencies.
However, right now I believe that the world will start to accept cryptocurrencies and make regulations for it. maybe some countries are still banned like China and India, but I'm pretty sure that in the future, they will accept this technology, and make some regulations for it.

[lumierre]

Fortunately, now we are free in terms of cryptocurrency mining and trading. We don’t pay any taxes for using it. Nevertheless, it is not very popular here. We are not allowed to pay in crypto for any goods or services, so in my country it is only like investment. Also there are some exchanges and platforms that got banned in my country, for example Binance. 

[Rehan Zakir]

In my country, Bitcoin currency is still illegal. But government tries to regulate this currency. Because cryptocurrency is spreading day by day worldwide. There are many countries where crypto currency is illegal, the reason is that the government plans how we get benefit from this currency. It is a global currency and no one controls this currency.

[slaman29]

In my country, Indonesia, the legality of bitcoin is still quite confusing. But one thing for sure, bitcoin is not considered as a legal currency in my country since the legal currency that can be used in Indonesia is the one that is officially issued by the government, which is Rupiah. So, bitcoin is not a legal currency yet, maybe we can considered it illegal. However, it's not like government banning everything related to bitcoin. Even, Bitcoin is legalized by the Ministry of Commerce through the Commodity Futures Trading Regulatory Agency. So i guess it's legal as a trading commodity, however not as a currency.

You are confusing legality with legal tender. Bitcoin is only legal tender in one country in the whole world, El Salvador. This means, you MUST accept Bitcoin as payment if someone chooses to pay in that.

But legal just means NOT ILLEGAL. And Bitcoin is not illegal in Indonesia, I am not from there but I have sold Bitcoin to a few Indonesians p2p and I know they also buy:)

[Elsaveronicha]

in my country. Bitcoin is allowed to be traded. Bitcoin has been legalized as an investment just like gold. However bitcoin is not allowed to be used for payments. Because the only currency allowed is rupiah.

[worle1bm]

What is the situation in other countries that you know of? And do you think the world will start accepting it or will regulate and see it only as a "store of value" and not a currency?

At this time most of the countries stand with bitcoin and becoming destination as crypto friendly where you can trade and mine bitcoin.Only a handful of nations that don't understand bitcoin that how beneficial it could be for the economy puts a ban on it and fear loss of power with the introduction of these decentralised coins and don't want to give freedom to people.But with time most of them will counter balance their statements and put up legal notice that they accept bitcoin as legal tender same like El Salvador and that time is not too far now.So just wait for that time period and HODL.

[Veter2000]

In Russia, bitcoin, along with other cryptocurrencies, after the adoption in the summer of 2020 of the law "On digital financial assets" is legalized in the form of property and has property rights. But at the same time, the same law prohibited the payment of goods and services in cryptocurrencies and BTU and in bitcoins. At the same time, officials of the Central Bank and representatives of the authorities regularly declare that bitcoin and cryptocurrencies in general are a financial pyramid.

[junmisakiro]

In our country for now, the government has legalized bitcoin as a legal transaction tool and also as an investment asset, in a press release last year our country's government has emphasized to the community and prioritizes the millennial generation, in order to adapt to the growth of technology, such as technology offered bitcoin and the public must be smarter in determining investments with cryptocurrencies.

[zanezane]

Nothing really big has happened yet but the agencies that don't have stake on crypto and bitcoin are the one that's been meddling so it's a shitty thing although they haven't done anything drastic yet but given that they are meddling already makes me uneasy since there's a possibility that we might see some sort of bad policies.

[jamkesmas]

What is the situation in other countries that you know of? And do you think the world will start accepting it or will regulate and see it only as a "store of value" and not a currency?

Several small countries, are currently considering legalizing bitcoin as an official currency and also as a legal tender applied in their country, one of which is Paraguay which is currently considering bitcoin as part of its monetary ecosystem to reduce dependence on fiat currencies.
But unfortunately, in our country today bitcoin is only seen as a commodity futures asset.