What is the legal status of Bitcoin in your country?

[Shenzou]

Some countries banned crypto assets totally, some banned mining, some allows even paying taxes with it and some doesn't allow purchasing goods using crypto assets.

The Republic of Turkey has a strict ban against using crypto assets as a way of payment or developing technological infrastructure for such use case. However, it is perfectly legal for individuals and businesses to buy/sell/mine/trade the crypto assets.

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?

A lot of countries of governments don't have any clear law that prohibits nor allows the use of cryptocurrency or bitcoin, but a they will use other laws or reasons if you are found to be using them for illegal purposes or making a lot of money from them and not paying taxes, for example in my country i guy went for jail because he was buying and selling bitcoin and he was trialed under the law of the use of foreign currency which is not allowed.

[vania vin]

in my country bitcoin there is no prohibition it's just that there are no legal transactions in our country just dig bitcoin and convert it into fiat currency then we can shop.

[Imran232]

Bangladesh : Not legal.

According to Bank and Supreme court it is still in suspended. But this year from last 2-3 moths we saw a little hope. Because from last 2-3 moths we saw lots of news covered by Bangladeshi news TV channel and all are posetive news not only that they invite Bangladeshi government tech special in Somoy television talk show, Finance Minister and one more person to talk about bitcoin dedicately. And they all are given their feedback. And from their feedback we can got a little posetive vibe. They are working on it before legalise. Lets see what news comes.

[taufik123]

The legal status of bitcoin in my country, Indonesia, is legalized on the condition that it is only allowed to be used as a commodity asset and cannot be used as a legal transaction tool. But legalization as a commodity asset also has a big impact, so the government still provides light regulations for crypto trading.
To be another legitimate payment option, it seems that more research needs to be done because it does have a lot of risks. Rupiah remains the legal and only transaction tool.

[Lanatsa]

So far my country doesn't really have much strict rules or laws towards crypto even though there are hints that it might be taxed soon but thinking off about being decentralized then its really impossible to happen and that's why they do mainly targeting off those centralized platforms or businesses which is involved on crypto but talking on taxing every individual that do involved in crypto is really impossible.
Its good to look at that there are various countries which had adopted bitcoin in terms of payment system.

Hopefully it would really happen in our country too but for now I don't have any problems about conversion and doesn't really mind too much about AMLA or something like that.

Im just earning good but not really much which might triggered out the government.

[slaman29]

Bangladesh : Not legal.

According to Bank and Supreme court it is still in suspended. But this year from last 2-3 moths we saw a little hope. Because from last 2-3 moths we saw lots of news covered by Bangladeshi news TV channel and all are posetive news not only that they invite Bangladeshi government tech special in Somoy television talk show, Finance Minister and one more person to talk about bitcoin dedicately. And they all are given their feedback. And from their feedback we can got a little posetive vibe. They are working on it before legalise. Lets see what news comes.

Suspended from trading and commerce for sure, but is it also illegal to hold? I know for a time it was okay in Pakistan and then also now in limbo. Like even in India where it was banned for business, banks, etc, they still wouldn't go after you if all you did was hold it. And in a way that benefited those who knew how to go and trade outside since they didn't owe any taxes on crypto:)

[Veter2000]

Policymakers from various countries are taking steps to provide regulations for individuals and businesses related to the integration of the technology offered by bitcoin, and for now most countries have not declared that bitcoin is an illegal asset to implement in their countries, but there are also some countries who hate bitcoin and severely restrict it, such as China, Russia, and Vietnam, but this has not had a major impact on bitcoin's thriving growth today.

Russian legislation only restricts payment for goods and services with cryptocurrencies, including bitcoin. There are no other legal restrictions on bitcoin trading and ownership in Russia today. But general restrictions on the operation of financial markets affect the development of the crypto industry in Russia.

[Dread Pirate Roberts]

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?

In my country " Indonesia " Cryptocurrency is allowed only as a commodity asset. not for payment. people can stored their asset and access some legal exchange for it, and the legality of the exchange in my country allows cryptocurrency trading and ownership of it. although there is a list for coin that is allowed or not ( not all coin listed ) there is a special institution that assesses what coins can be listed by an exchange in my country.

[Elsaveronicha]

until now my country has legalized bitcoin as an investment.  In the past bitcoin was still banned in my country.  But now bitcoin has been accepted and allowed to invest.  However bitcoins should not be used for payments.

[amihada]

until now my country has legalized bitcoin as an investment.  In the past bitcoin was still banned in my country.  But now bitcoin has been accepted and allowed to invest.  However bitcoins should not be used for payments.

in your country bitcoin is legal but why is it not accepted as a means of payment if it is legalized by the government then bitcoin can be a legal tender.

[Semar Mesem]

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.

What the government is doing that only allows fiat currency for transactions is the right thing, of course it will cause a lot of problems if the function of bitcoin is equated with fiat, the presence of bitcoin is to improve the world's transaction system but will not be able to replace fiat currency.

[milewilda]

Yes its rights alot of countries still not accepting bitcoin or cryptocurrency. In Our country Pakistan , Bitcoin mining is totally banned and also trading was also ban but now some bill passes and in just one Province it is almost unban and users allow to trade but not totally legally Mining still not legal.

Not accepting because they are just really on the neutral side on where they  do still observe on what could Bitcoin actually able to do when it comes to payment system.Most of merchants are really been on concern in terms of fees or volatility and thats why majority doesnt really tend to dive in with the current trend of crypto or still on observation mode but there are several merchants do really consider on taking up risk and trying to do something new and most of them did really appreciate on how it do handle out payments and at the same time they do really make profits on just simply holding it but of course tendency or chance or negative or losses
will be always there.

[bosede1]

In my country, the legal status of Bitcoin is a trade ban. There has been a ban made on the trading of Bitcoin early this year, the country is ranked second still trading regardless.

[Veter2000]

until now my country has legalized bitcoin as an investment.  In the past bitcoin was still banned in my country.  But now bitcoin has been accepted and allowed to invest.  However bitcoins should not be used for payments.

in your country bitcoin is legal but why is it not accepted as a means of payment if it is legalized by the government then bitcoin can be a legal tender.

     Legalization means the emergence of the legal status of bitcoin in the legal system of the country as a property or financial asset. And the status of legal tender is fundamentally different. Almost all countries of the world leave the status of legal tender only for sovereign fiat currency. Even Japan has canceled the status of legal tender for cryptocurrencies and their transfer to the status of financial assets.

[Easteregg69]

until now my country has legalized bitcoin as an investment.  In the past bitcoin was still banned in my country.  But now bitcoin has been accepted and allowed to invest.  However bitcoins should not be used for payments.

in your country bitcoin is legal but why is it not accepted as a means of payment if it is legalized by the government then bitcoin can be a legal tender.

     Legalization means the emergence of the legal status of bitcoin in the legal system of the country as a property or financial asset. And the status of legal tender is fundamentally different. Almost all countries of the world leave the status of legal tender only for sovereign fiat currency. Even Japan has canceled the status of legal tender for cryptocurrencies and their transfer to the status of financial assets.

Everybody knows that the dice are loaded
Everybody rolls with their fingers crossed
Everybody knows the war is over
Everybody knows the good guys lost
Everybody knows the fight was fixed
The poor stay poor, the rich get rich
That's how it goes
Everybody knows

Leonard Cohen.

[agg2702]

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.

This is a good choice because of the utility and the constantly volatile bitcoin exchange rate. Of course this is something very good because in that way bitcoin can still be special and not lose its privileges and fiat is still the first to be used for transactions.
despite some countries that have legalized bitcoin as a legal currency for transaction tools, I still prefer things like this.

[ChiBitCTy]

This is a really good topic, I'm glad you brought this up because I am not sure I have ever seen this being asked here before.  It seems to be a bit of a theme, or a bit obvious as to which countries have banned cryptocurrency and bitcoin, and which ones haven't.  Mostly from what I am seeing, it seems like the countries banning it are those whom are more conservative in nature to begin with.

[Rana590]

In my country, it's not still clear but we can suppose it that using Bitcoin is illegal in our country. We can expect that within short possible of time, government will accept Bitcoin as legal crypto currency because it's important for living with digital world.

[Sihab76]

Bitcoin has not yet received government approval in our country, but people in the country use Bitcoin indirectly if they do not use it directly. But lately, Bitcoin is being used by the government Positive comments are being heard. Maybe in the near future bitcoin can be legal in our country.

[Ryker1]

Bitcoin has not yet received government approval in our country, but people in the country use Bitcoin indirectly if they do not use it directly. But lately, Bitcoin is being used by the government Positive comments are being heard. Maybe in the near future bitcoin can be legal in our country.

Well the same in my country, but perhaps in my own opinion bitcoin is hard to become a legal currency, perhaps the government allows bitcoin to use in the country but this has not become legal, we know that bitcoin is not yet regulated and it is hard to regulate, so it is impossible that it will become legal in the future, not unlike country that openminded like El Salvador that they legalized using bitcoin. Further years to come will perhaps we will see between the government and bitcoin situation, who knows it will adopting in every country.