Bitcoin in your country.

[uchegod-21]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

• March 21, 2021: The CBN clarifies its position on the ban and states that individuals  are not prohibited from buying and trading crypto, just not through any Nigerian bank or fintech.

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

[1715619346]

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[1715619346]

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[Pingrapole]

There are two to three reasons why Bitcoin is not valid in my country, but I think it should be adopted by our country.Some of the policymakers of our country are not accepting it, but many policymakers want to accept it again but cannot give them to grow.I am a Bangladeshi citizen I wanted to be allowed to use this coin in my country also not authorized directly but indirectly many organizations are using it in a third party but for us, it is Many obstacles.If bitcoin system launched in my country it is possible to make friendship with many countries like Russia using cryptocurrency under their ban, so they have survived many economic disasters has But if there is a lot of discussion about it, it might be allowed.This currency is completely banned in Bangladesh but can be transacted through some wallets like Bikash Wallet.
****There are no Bitcoin ATMs in Bangladesh, but they are added or supported by Binance.

[_act_]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country.

I do not think bitcoin legalized as a legal tender should be included because bitcoin has been made a legal tender in just two countries which are El Salvador which was the first country, and Central Africa Republic (CAR) which was the second country. Go to those countries and spend bitcoin, it is accepted everywhere.

This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

For other bitcoin friendly countries like Netherlands, Slovania, Switzerland and many of them. If people are from these countries, this thread can be helpful to let us know the level bitcoin is accepted in these bitcoin friendly countries. But I think tourists will spend bitcoin easily in countries that has been made as legal tender. The third for tourists is an island in Honduras where bitcoin is also a legal tender.

[uchegod-21]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country.

I do not think bitcoin legalized as a legal tender should be included because bitcoin has been made a legal tender in just two countries which are El Salvador which was the first country, and Central Africa Republic (CAR) which was the second country. Go to those countries and spend bitcoin, it is accepted everywhere.

There might be people from either of the countries in this forum, so they will want to tell us about it. Or are you suggesting that since we know only two countries made bitcoin a legal tender, we shouldn't mention it again.

For other bitcoin friendly countries like Netherlands, Slovania, Switzerland and many of them. If people are from these countries, this thread can be helpful to let us know the level bitcoin is accepted in these bitcoin friendly countries.

Yes, I will really love to know the level of bitcoin acceptability in the bitcoin friendly countries and if they can say about bitcoin taxation, it will also be fine.

[pooya87]

For other bitcoin friendly countries like Netherlands, Slovania, Switzerland and many of them. If people are from these countries, this thread can be helpful to let us know the level bitcoin is accepted in these bitcoin friendly countries. But I think tourists will spend bitcoin easily in countries that has been made as legal tender. The third for tourists is an island in Honduras where bitcoin is also a legal tender.

Whether or not people can spend bitcoin in any country depends on the level of adoption specially in countries where they are just "bitcoin friendly", you may not see that many places where they accept bitcoin payments. Things are only a little different where bitcoin is legal tender, many still don't have any clue how to accept it and the few who do are going through a lot of centralization.

[Lorence.xD]

Well in the Philippines, government doesn't really have any restrictions about Bitcoin since there's a lot more of issues that they need to solve first than Bitcoin. Since Bitcoins is not that popular to the people here especially the adults one which they are not involved in crypto thinking its a fraud or a scam. Mostly the people who's involved are the new generation one due to they are influenced by the media and in the internet. Last time I've heard government concerning about crypto is about NFT game axie where they are trying to put taxes but they cannot since it's decentralized.

[tbct_mt2]

Whether or not people can spend bitcoin in any country depends on the level of adoption specially in countries where they are just "bitcoin friendly", you may not see that many places where they accept bitcoin payments. Things are only a little different where bitcoin is legal tender, many still don't have any clue how to accept it and the few who do are going through a lot of centralization.

Legal tender is useless like in El Salvador and I read some articles that El Salvadorians have to accept bitcoin because it is legal tender there but they are not happy. They don't want to be Bitcoin holders, investors and accepting Bitcoin for their small businesses is risky because of Bitcoin volatility.

In nations where Bitcoin is not legal tender but locals are ready to use it, national-wide accept it for their businesses without much fear. It's different like you said between legal tender and non legal tender nations.

Bitcoin with its decentralized network, non custodial wallets can be used and transacted without need to be legal tender.

[so98nn]

Our country is just trying to leech as much taxes as they could but they are completely fine having bitcoin trades of any type. That is currency to currency or currency to whatever is possible. I am more or less happy that at least we do not have to worry about our accounts getting banned.

We pay 1% TDS at the financial year end on only bitcoin to altcoin exchanges that happen on any exchanger. This is traced as exchangers are subject to submit the trade data to authorities during that financial year. Secondly we have to pay 30% taxes on the bitcoin sell to local currency and any profits that we got from such sells.

However, this is again calculated based on various expenses, income slot during that financial year.

It’s pretty much easy if you have business and you can end up paying less as compared to what is given. The country is India.

[aylabadia05]

In my country, Indonesia. Bitcoin is only permitted as a commodity asset and may not be used as a means of payment. Making payments and purchases other than using fiat currency called Rupiah or Indonesian Rupiah or abbreviated as RP or IDR is strictly prohibited as regulated by legal provisions.

My country does not close or limit the space for Bitcoin and crypto to be used as assets for investment. In fact, recently the government has launched a futures exchange.
As someone who is very pro Bitcoin, I am very happy with those who still provide space for crypto actors to carry out their activities as long as they do not violate the legal provisions that have been made as I have mentioned above compared to other countries which are anti to all forms of crypto and perhaps even issuing special rules for those involved in crypto activities such as heavy sanctions.

[bayu7adi]

I'm from Indonesia and here are some points about crypto that I understand so far and that still apply.

- Crypto assets in Indonesia are not products like money, but they are commodities and this is regulated by BAPPETI (a government agency that regulates commodities)

- Crypto assets cannot be used as a means of payment in Indonesia. The only official and valid medium of exchange in Indonesia is IDR (Indonesian Rupiah)

- Every crypto trade will be subject to a tax of 0.1% of the transaction amount through the official exchanger in Indonesia.

Maybe there are still some points that I haven't included, but the points above are important points that need to be paid attention to when using crypto in Indonesia.

[Yamane_Keto]

There is no restrictions on owning, buying, trading and investing in cryptocurrencies in my country.
The law recognizes it as a payment method that is not linked to the local currency.
payment services and exchange service providers have some additional restrictions related to regulating money laundering rules and are prohibited from providing services without a license.

There is a website that will answer all your questions.
https://www.japaneselawtranslation.go.jp/en/laws/view/3078/en#:~:text=Article%201The%20purpose%20of,the%20clearing%20of%20exchange%20transactions

[Fuso.hp]

Bitcoin is not allowed in the country where I live and Bitcoin users are considered criminals in our country. If a user is caught doing Bitcoin transactions then the law holds him guilty and he is brought under the law on conviction. Our country's government, mobile banking institutions or our country's top news media always make negative campaigns about Bitcoin. We who are Bitcoin users take a lot of privacy then use Bitcoin. Although Bitcoin is not directly approved in our country, a large number of people use Bitcoin. A significant number of people use Bitcoin, which is why the government is so strict with Bitcoin. If the maximum number of people in the country use Bitcoin, it will be very challenging for the government of our country to maintain its economic system.

[bitmover]

Brazil is a crypto friendly country 

Although there aren't many stores which accept bitcoin yet, we have already more than 3 bitcoin ETF to buy in out stock exchange.

Bitcoin gains is also tax free below 6k usd (approximately )

There are quite few local exchanges and it is easy to buy bitcoin,  however binance dominated there market here and has about 60% of total volume in BTCBRL pair in the country

Overall,  nice place to invest and own crypto.

Bitcoin made things easier when traveling abroad, as it is now easier to send money our of the country

[Lucius]

I do not think bitcoin legalized as a legal tender should be included because bitcoin has been made a legal tender in just two countries which are El Salvador which was the first country, and Central Africa Republic (CAR) which was the second country. Go to those countries and spend bitcoin, it is accepted everywhere.

CAR rejected BTC as a legal tender a long time ago, and I don't understand why people keep repeating it as if something will change if we still believe that Bitcoin could have succeeded in a country where 90% of people do not have access to the internet. Even if you go to El Salvador, you cannot count on being able to pay with BTC anywhere, the law is one thing, but the reality is something completely different.

For other bitcoin friendly countries like Netherlands, Slovania, Switzerland and many of them. If people are from these countries, this thread can be helpful to let us know the level bitcoin is accepted in these bitcoin friendly countries. But I think tourists will spend bitcoin easily in countries that has been made as legal tender. The third for tourists is an island in Honduras where bitcoin is also a legal tender.

I assume you mean Slovenia, which is often mentioned (although I don't see any particular reason), because Portugal or Germany are also very friendly countries when it comes to Bitcoin, especially taxes. As for Honduras, it is not true that Bitcoin is legal tender there, but it is a tourist project of the Santa Lucia enclave called Bitcoin Valley. A similar thing exists on the Philippine island of Boracay, and BTC is not legal tender there either.

Your idea that Bitcoin can only prosper if it is legal tender is completely wrong, because forcing someone to use something they don't want is counterproductive in most cases.

[leonair]

There are two to three reasons why Bitcoin is not valid in my country, but I think it should be adopted by our country.Some of the policymakers of our country are not accepting it, but many policymakers want to accept it again but cannot give them to grow.I am a Bangladeshi citizen I wanted to be allowed to use this coin in my country also not authorized directly but indirectly many organizations are using it in a third party but for us, it is Many obstacles.If bitcoin system launched in my country it is possible to make friendship with many countries like Russia using cryptocurrency under their ban, so they have survived many economic disasters has But if there is a lot of discussion about it, it might be allowed.This currency is completely banned in Bangladesh but can be transacted through some wallets like Bikash Wallet.
****There are no Bitcoin ATMs in Bangladesh, but they are added or supported by Binance.

Although Bitcoin is not legal in Bangladesh, users can be seen to be quite active in the Bangladesh thread, which means that Bitcoin is also widely used in Bangladesh. It is not necessary to have a bitcoin ATM to use bitcoins as there are many non-custodial wallets to hold bitcoins and p2p facilities to cash out.  And for this p2p facility, Bitcoin can be easily cashed out in countries where Bitcoin is not legal. One of the biggest reasons for not legalizing Bitcoin in a country is to prevent anti- money laundering. Because bitcoin wallets don't generate country-specific wallets, the same category of wallets are generated for everyone, so it's impossible to tell from a wallet transaction where those bitcoins have been transferred.  In this case it is very easy to launder money through Bitcoin.  And this is why the government fears the most

[Franctoshi]

Cryptocurrency is not banned but its transaction with banks is banned.[/li][/list]

On 28th May, 2023 Nigerian government signed into law the Finance Act 2023 which grants a 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transactions banned in the country. This is the state of confusion about biBitcoinnd cryptocurrency in my country.

The Nigerian Government through CBN and its policies is kind of playing policies here with its contradicting laws and regulations on  Bitcoin and cryptocurrency.

The past administration was not very friendly with cryptos and I can recall vividly the stress it costs most of us "Bitcoiners and crypto enthusiasts" here in Nigeria to try to bypass this ban on crypto transactions, even to the extent of having our ATM cards get blocked and bank accounts banned as well, as a result of being involved in crypto-related transactions then,

However, the situation is a bit calm now but the ban has not been lifted and we no longer feel the impact much as compared initially,  as most of us have resorted to alternative means to purchase Bitcoin like through P2P, and the rest with no hindrance and despite we have a new government in place, they haven't come out with regulatory clarity.

[Adbitco]

I can say we are cypto-friendly (bitcoin) I mean you can buy and sell bitcoin in my country it is not restricted or ban but as said by op you can't mentioned any crypto words while transacting with bank otherwise there could be some action which may leads to account frozen. Currently A Hotel at Iwofe Port-Harcourt Started accepting bitcoin as an accommodation fee meaning you can pay with bitcoin for whatever you eat & Drink, a public address is placed on the reception and in every single room to make payment and whenever a payment is done you could copy txt id and send to a whatsapp number under the address for verifications and confirmation

Hence I can say the city where I am now currently we are Bitcoin friendly, for those who wanna lodge over there can indicate interest and I drop location.

[tjtonmoy]

I am from Bangladesh. Not only Bitcoin but any kind of cryptocurrency is prohibited from use here. You can get into jail just by owning any cryptocurrency. Here's an article you can read on this matter.

Bangladesh Bank has once again asked all to refrain from doing trading of any kind of virtual coin or cryptocurrency in the country.
The banking regulator made the call as the definition of "currency" given by the Foreign Exchange Regulation Act, 1947 does not recognise virtual currencies.
Virtual currencies [subset of virtual assets] is not approved by the central bank to settle any type of foreign exchange transaction or making those for investment as per the act, according to a BB notice.
Virtual currencies or virtual assets have no financial claim embedded and neither issued by any sovereign nor guaranteed by any jurisdiction.
Thus, their value is highly volatile and associated with high financial risks.
The BB in the notice said borderless transactions of unregulated virtual currencies are growing fast and being exchanged with some other foreign currencies.
Treating virtual currency as an alternative form of foreign exchange transactions is contravention of the act.

Source: [click here]

Three people were arrested for owning cryptocurrency in the past year. And now many digital banking platforms are prohibiting to exchange crypto for fiat using their services. They made banners and spread them all over the country.

[Faisal2202]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

That's good to know, because people are making a lot of money in cryptocurrency then they should also pay some tax so country can also make some money too. I really liked these types of steps in compare to banning the whole crypto sphere in country.

I live in Pak, and crypto is totally ban here, agencies are hunting bigger fishes and they are seizing their funds, but IDK why big influencers and Youtubers are still live and making daily videos on crypto and are not under any type of investigation. They even showcase their profits and lose too but mostly profits. Point is, till now I think agencies do ban the crypto but according to SBF private statements that it made in court during the trial, they said, we do not have any authentic reason to ban the crypto but still they have banned it without declaring any specific punishments.

People already avoid to made direct transaction in banks which are connected with crypto, just like you said. And we almost follow the same method to withdraw funds which you aforementioned.

PS: I really liked the initiative you have started here, because we surely will get to know more about each other's local laws about Crypto.

[m2017]

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

The fate / status of bitcoin in different countries is changing very rapidly and in order to keep track of this, need to constantly monitor information about the specific country you are in or are planning to go to. Therefore, in order for your topic to work, it will need to be constantly updated.

For the most part, there will be few countries mentioned here in which it will be possible to live the life of a bitcoiner, which will lead to this topic being spammed with posts like “btc is banned in my country.” It will be easier if we proceed from the opposite: don't mention countries in which bitcoin is prohibited (or mention briefly), but rather concentrate more on information about those countries in which BTC is not prohibited and what goods and services can be used to pay for them. That is, real and useful cases that can really be useful to bitcoiners when moving or going on vacation to another country.

That is, I propose to narrow the topic from “the status of bitcoin in their country.” to “in which countries and how can bitcoin be used by visitors/locals.”

[asyezuner]

in just my point of view in country btc is not acceptable  because our minister think that they search about legal way for that on the others hand  in my my opinion if btc is going to legal then how our minister is doing bussnes of black money because they think about there own pocket they make money laundring in these platform.

[rojan]

Although Bitcoin is not legal in Bangladesh, users can be seen to be quite active in the Bangladesh thread, which means that Bitcoin is also widely used in Bangladesh. It is not necessary to have a bitcoin ATM to use bitcoins as there are many non-custodial wallets to hold bitcoins and p2p facilities to cash out.  And for this p2p facility, Bitcoin can be easily cashed out in countries where Bitcoin is not legal. One of the biggest reasons for not legalizing Bitcoin in a country is to prevent anti- money laundering. Because bitcoin wallets don't generate country-specific wallets, the same category of wallets are generated for everyone, so it's impossible to tell from a wallet transaction where those bitcoins have been transferred.  In this case it is very easy to launder money through Bitcoin.  And this is why the government fears the most

I agree with you this could be the biggest reason. crores of rupees are being smuggled from different countries every year through banks, but it is possible to smuggle money, although the smuggled money cannot be easily brought back. However, money laundered through bitcoins cannot be traced back, nor can it be traced back to which country the money has entered. And this is why Bitcoin is still illegal in many countries including Bangladesh

[uchegod-21]

Three people were arrested for owning cryptocurrency in the past year. And now many digital banking platforms are prohibiting to exchange crypto for fiat using their services. They made banners and spread them all over the country.

This is not a good one for Bangladesh citizens. The government might think that they are protecting their citizens against crime or whatever but little will they realise that they are setting their citizens backwards.
Cryptocurrency has come to stay, while other countries are building crypto tech worlds of possibility, they are busy jailing cryptocurrency users who are nit confirmed criminals.

[Zenp]

I'm in Canada and here is a overview of Bitcoin in Canada:

Legal Tender Status: It is currently not considered legal tender, maybe one day in the future 
ATMs: There are a vast number of Bitcoin ATMs that can been seen and used freely.

Canadians are expected to complete KYC to buy bitcoin on almost all exchanges. Binance has stopped providing its services in Canada due to the "tight" Canadian regulations around bitcoin [1].

Digital assets like cryptos are treated as securities, and are under regulation through the different security laws by regional securities regulatory bodies meaning these regulations also operate at the provincial level [2].

I would say Canada is not a very crypto friendly country as of yet. But maybe I'm just biased because I miss Binance.

Links:
[1]. https://www.binance.com/en/feed/post/518931

[2]. https://cointelegraph.com/learn/a-beginners-guide-to-blockchain-and-cryptocurrency-regulation-in-canada

[bayu7adi]

ATMs: There are a vast number of Bitcoin ATMs that can been seen and used freely.

I'm curious about Bitcoin ATMs in the Western countries. Are these owned by the government or by exchange companies?

Furthermore, when you conduct transactions, you're often required to go through a Know Your Customer (KYC) process for every Bitcoin purchase on government-regulated exchanges. Does this mean that when you buy Bitcoin at a Bitcoin ATM, you also have to scan your ID card or provide other personal information?

I'm intrigued by the presence of BTCATMs, especially since they haven't quite made their way to my country yet. Perhaps it's because our culture and societal norms haven't quite caught up with this technology, given that its adoption hasn't been widespread. Nonetheless, I'm eager to give those BTCATM buttons a try and engage in some transactions when they eventually arrive in my area. Here's hoping BTCATMs will soon be available in my vicinity!

[Zenp]

ATMs: There are a vast number of Bitcoin ATMs that can been seen and used freely.

I'm curious about Bitcoin ATMs in the Western countries. Are these owned by the government or by exchange companies?

Furthermore, when you conduct transactions, you're often required to go through a Know Your Customer (KYC) process for every Bitcoin purchase on government-regulated exchanges. Does this mean that when you buy Bitcoin at a Bitcoin ATM, you also have to scan your ID card or provide other personal information?

I'm intrigued by the presence of BTCATMs, especially since they haven't quite made their way to my country yet. Perhaps it's because our culture and societal norms haven't quite caught up with this technology, given that its adoption hasn't been widespread. Nonetheless, I'm eager to give those BTCATM buttons a try and engage in some transactions when they eventually arrive in my area. Here's hoping BTCATMs will soon be available in my vicinity!

These Canadian ATMs are owned and operated by third party companies. I found a cool list online that shows the breakdown by operator in Canada. Localcoin is the biggest operator. Source


Also Toronto has the most ATMs as expected. Here's a summary of all the locations for Localcoin operated ATMs. Locations

Usually for smaller transactions, sorry not sure how much, but im thinking around <$1000, you only need to provide the ATM with your phone number to be able to purchase, but for larger transactions, ID is required. Here's a snippet from the localcoinatm website: https://localcoinatm.com/faq/

Code:

All users will be required to supply a Canadian phone number and complete a one-time-password (“OTP”) authentication to register on our platform. This is how we will receive receipts after your purchases.

Additionally, for your protection, and in accordance with federal laws, you will be requested to complete a “KYC” verification at specified thresholds.  In these cases, you will be required to provide your name, home address, occupation, and provide a government-issued identification (“ID”), such as a driver’s license or passport for authentication against a “selfie” image. All of your personal information is securely stored in accordance with our Privacy Policy.

[DVlog]

Bitcoin is an outlaw in my country and the government is trying to shut it down and discourage users from trading bitcoin or any other digital assets. I once heard the news that some of the bank from our country is working with Ripple and the government is trying to take some regulatory action towards digital currencies. Their current stand indicates something else. News media spreading misinformation about bitcoin as well.

[Rruchi man]

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

It is good that the government is not clear on it, makes things less difficult, but even if the government in Nigeria make it clear that bitcoin now has a banned status in the country, many people like myself will still ignore them and find a way around it.

I am too informed to let my government hold me down.

We have learnt not to trust that the government has our interest.[/list]

[goldkingcoiner]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

• March 21, 2021: The CBN clarifies its position on the ban and states that individuals  are not prohibited from buying and trading crypto, just not through any Nigerian bank or fintech.

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

This thread is a good idea, although we have had similar threads to this, I think that since we need new updates on the up-to-date state of Bitcoin legality in different countries, a new thread is just what we need. Good job on that.

I would also furthermore recommend that you edit your first, starting post and create a summary in order to add a overview of the collected data.

Countries like to ban, unban and reban cryptocurrencies as if they were too confused on the concept. Even though the truth is that they are just manipulating the market for their institutional investor friends. Another reason why you should never panic-sell your crypto.

[The Cryptovator]

My government is too strict against crypto, so sadly, I won't share my country. Though my government sent a team to El Salvador to see the situation after making it legal tender, But the team provided a negative result, or they really don't understand how Bitcoin works. Then the government made rules through the central bank that using and trading cryptocurrency were strictly prohibited, and anyone found to use them would be punished for that. So I don't expect my government to accept Bitcoin very soon. Even if it is not legal tender, we should make it legal so we can take more benefits from that.

[Ultegra134]

I'm from Greece; there isn't any official legislation against cryptocurrencies yet, nor is there any direct taxation regarding them, apart from any investment-related income, which is taxed at approximately 14%. However, Bitcoin isn't widely known or accepted by the public; only a few know about it, and even fewer own it. The government is planning to create more legal legislation regarding cryptocurrencies, but nothing is yet to be implemented. Some banks, on the other hand, have banned any cryptocurrency-related transactions; depositing money at Binance is impossible. You'll have to deposit to a third party, such as Revolut, and then to Binance. I don't understand why they decided to implement such a rule.

[Aikidoka]

In my country, the use of Bitcoin or any type of crypto isn't normally supported by the government. To be honest, there are no specific regulations in place yet but I've heard stories of people encountering issues with the police when they were caught mining or dealing with crypto. They were accused of money laundering and related stuffs like that. It's just absurd to be honest and the guys who were mining ain't doing anything illegal tho.

So long story short, Bitcoin isn't well developed here and particularly the older generation is not well-informed about it and I believe that the most of those old people thinks that it could have a negative impact on the government which is really the inverse of it IMHO.

[sokani]

There's nothing to say about the position of Bitcoin or cryptocurrency in my country because the Op has said everything that needed to be said.

One area that I'm taking keen interest in is the area of legal tender. I'm hoping that a forum member from El Salvador could give us a first hand information about Bitcoin acceptance in the country. Despite making it a legal tender and some really good things I do read online, I've also been coming across some contrasting information which makes me wonder if it's some kind of political propaganda to rubbish Bitcoin success in the country. So I'll be keeping an eye on this thread and would really appreciate some responses from the El Salvadorians.

[letteredhub]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

In my opinion the government are just been greedy and selfish altogether or more like a witch-hunting policy maker. On the grounds that you have made it hard and very technical for people to do transaction by banning the use of bank with cryptocurrency transacts yet you're still demanding for taxes for making something that would have been easy a hell on the people. The law signed on the day of May 28th, 2023 I still reiterate my stand that it wasn't in the best interest of Nigerians that are crypto savvy, all the government wanted was just to gain tax from cryotopreneurs.

[khiholangkang]

In my country, Indonesia, the status of Bitcoin is made into a commodity, nothing more than that, because constitutionally my country's laws cannot be changed. It strictly prohibits "not to use any currency other than the Rupiah as a legal medium of exchange, other than that if anyone does so, they will be subject to criminal penalties".
A few months earlier, my country responded quite positively about Bitcoin, including a regional leader who stated that he was very pro Bitcoin and would build Bitcoin mining in Indonesia using solar power, but this did not reach his goal because his term of office had expired. , I think if he becomes president later, bitcoiners in Indonesia have a good opportunity to carry out mining activities or whatever with bitcoin.

In my country mining is not very popular, only on a small scale at home.

[kawetsriyanto]

In my country, Indonesia. Bitcoin is only permitted as a commodity asset and may not be used as a means of payment. Making payments and purchases other than using fiat currency called Rupiah or Indonesian Rupiah or abbreviated as RP or IDR is strictly prohibited as regulated by legal provisions.

Yep, Bitcoin is only allowed to use as a digital asset, it can't be used as a digital currency. In Indonesia, Rupiah is the only legal currency, we even can't use other currencies. So, the government doesn't prohibit Bitcoin only, but all foreign currencies are prohibited from being used as a means of direct payment. We must convert the foreign currencies to Rupiah on the banks, we must change Bitcoin to Rupiah on our local exchanges.

The laws stated a legal currency in Indonesia: https://www.bi.go.id/id/tentang-bi/profil/uu-bi/UndangUndang%20BI/Konsolidasi-UU-No.7-Tahun-2011-Mata%20Uang.pdf

[lionheart78]

I am from the Philippines and Bitcoin gained traction in my country in 2017 when it soared from $1000  to $19,000 according to the data found on the internet[1].  From there the BSP had created several dependable network that protects cryptocurrency users.  Also during that year, Bitcoin was recognized by the country as a legitimate payment method[2].  The Philippines had been a Bitcoin-friendly country since then allowing Bitcoin to be openly traded and approving cryptocurrency exchanges to operate in the country.


[1] https://www.ijisrt.com/assets/upload/files/IJISRT21MAY196.pdf
[2] https://cointelegraph.com/news/the-philippines-officially-legitimize-bitcoin-as-payment-method

[lalabotax]

In my country, Indonesia. Bitcoin is only permitted as a commodity asset and may not be used as a means of payment. Making payments and purchases other than using fiat currency called Rupiah or Indonesian Rupiah or abbreviated as RP or IDR is strictly prohibited as regulated by legal provisions.

We live in the same country. Yes, right. Bitcoin and cryptocurrency in Indonesia are actually legal as commodity assets. We are allowed to buy and sell crypto on exchanges or other platforms and also invest in the crypto space at our own risk. However, Bitcoin or other crypto is not legal or is still prohibited as currency. This means that crypto is not allowed to be used as a means of payment.

However, in the eyes of the public, crypto still has pros and cons. especially for those who are still debating halal and haram issues. And what's more, there is always some negative news related to crypto. So not everyone wants to invest in or be related to crypto. But at least, now it is getting better and there are a lot of developments compared to a few years ago.

[taufik123]

-snip-
A few months earlier, my country responded quite positively about Bitcoin, including a regional leader who stated that he was very pro Bitcoin and would build Bitcoin mining in Indonesia using solar power, but this did not reach his goal because his term of office had expired. , I think if he becomes president later, bitcoiners in Indonesia have a good opportunity to carry out mining activities or whatever with bitcoin.

In my country mining is not very popular, only on a small scale at home.

Looking at the facts, Bitcoin or cryptocurrency is indeed welcomed by the Indonesian government and plans to be developed well enough to have clear rules.

Currently, the rules as a commodity asset are also quite good, so there are no restrictions on trading Bitcoin and other crypto assets on the local Exchange.
But it is still not allowed to be used as a means of payment other than rupiah.

The positive response to Bitcoin mining in Indonesia will not go smoothly for several reasons.
Many obstacles will occur, although currently, the Indonesian Government has also set clear rules regarding crypto development by drafting regulations through the Commodity Futures Trading Supervisory Agency (BAPPEBTI).

There will certainly be a larger tax levy on Bitcoin miners if it is supported.
They as miners must officially report their assets.

Mining is not very popular, but there are some big miners who still operate without the shadow of the government, they are even anonymous.

[panganib999]

Bitcoin can pretty much run amuck in the country I live in. Heck there are so little regulatory laws about bitcoin that it might as well just be outright legalized without any repercussions/regulations. However, banks are our greatest enemies here. For the most part, when a bank finds out that you get your money from cryptocurrencies, it's either they won't grant your request of opening a bank account with them, or they will allow you, ban your account eventually for some reason, and then subject you to a lengthy and arduous process just so you can claim your money back.

A lot of us here resorted to centralized Digital Wallet Apps like Paypal, which isn't the most secure but in a country where fiat is still the king, you'd need to have cash in hand if you don't want to starve to death.

[cryptoaddictchie]

I think its good for some people who are early adopter in our country who gets the idea of it. But for some who just into hype in crypto and bought during bull season they hate it and thought of it as scams. There was a case that the government warns about its risk and tells people to avoid it. Im not sure the political status or laws regarding it possibly still on progress as I know my country is slow to speed up things especially on cryptocurrency related.

[Bd officer]

This is not a good one for Bangladesh citizens. The government might think that they are protecting their citizens against crime or whatever but little will they realise that they are setting their citizens backwards.
Cryptocurrency has come to stay, while other countries are building crypto tech worlds of possibility, they are busy jailing cryptocurrency users who are nit confirmed criminals.

I am also a Bangladeshi citizen. The government of any country does not want their people to back down in any way. If Bitcoin is legalized in our country the government thinks, if legalized local currency will be smuggled out of our country through Bitcoin, illegal weapons will be purchased through Bitcoin, etc. People may be involved in bad activities. However, the people of our country are not so good, it cannot be said that if Bitcoin is legalized in our country they will not do such activities. Millions of people are involved in cryptocurrency in our country while maintaining privacy. Bitcoin is being legalized in different countries, following different countries, Bitcoin will be legalized in our country at some point.

[Bazzu]

I am in Indonesia and the government in my country allows people who want to invest in BTC, but the government in my country prohibits BTC from being used as a means of payment and what can be used as a means of payment in my country is the Rupiah currency. So if you want to go on holiday to my country, of course BTC cannot be used as a means of payment unless you sell BTC first on an exchange and convert it into fiat currency.

[GreatArkansas]

Well in the Philippines, government doesn't really have any restrictions about Bitcoin since there's a lot more of issues that they need to solve first than Bitcoin. Since Bitcoins is not that popular to the people here especially the adults one which they are not involved in crypto thinking its a fraud or a scam. Mostly the people who's involved are the new generation one due to they are influenced by the media and in the internet. Last time I've heard government concerning about crypto is about NFT game axie where they are trying to put taxes but they cannot since it's decentralized.

Additionally, from what I also witness and experience, there are a lot of scammers from the Philippines that use the name Bitcoin to take advantage of some people who don't have yet any experience. For some people, when they hear "Bitcoin" they think it is easy money, easy life.
So a lot of people using Bitcoin to attract people to their Ponzi scheme or High-Yield-Investment-Program (HYIP) which is really scam.

[posi]

This is not a good one for Bangladesh citizens. The government might think that they are protecting their citizens against crime or whatever but little will they realise that they are setting their citizens backwards.
Cryptocurrency has come to stay, while other countries are building crypto tech worlds of possibility, they are busy jailing cryptocurrency users who are nit confirmed criminals.

I am also a Bangladeshi citizen. The government of any country does not want their people to back down in any way. If Bitcoin is legalized in our country the government thinks, if legalized local currency will be smuggled out of our country through Bitcoin, illegal weapons will be purchased through Bitcoin, etc. People may be involved in bad activities. However, the people of our country are not so good, it cannot be said that if Bitcoin is legalized in our country they will not do such activities. Millions of people are involved in cryptocurrency in our country while maintaining privacy. Bitcoin is being legalized in different countries, following different countries, Bitcoin will be legalized in our country at some point.

Wealthy people and strong country, so I think governments don't want their people to be left behind, they have a reason about bitcoin and I think most are just afraid of not being able to control the citizens mine. But whatever the reason, when all the countries in the world accept bitcoin, your country will also have to accept it in any form if you don't want to be considered a weirdo.

I also have a few friends in Bangladesh and Pakistan so I know the cryptocurrency situation there as well. I believe your government will soon accept bitcoin if they don't want to lag behind the world.

[Latviand]

Well in the Philippines, government doesn't really have any restrictions about Bitcoin since there's a lot more of issues that they need to solve first than Bitcoin. Since Bitcoins is not that popular to the people here especially the adults one which they are not involved in crypto thinking its a fraud or a scam. Mostly the people who's involved are the new generation one due to they are influenced by the media and in the internet. Last time I've heard government concerning about crypto is about NFT game axie where they are trying to put taxes but they cannot since it's decentralized.

The most recent that I've heard of is the police warning people about Axie Infinity being a ponzi scheme, when the time that they've reported this warning, the popularity of Axie Infinity is already plummeting down. I think that it's for the best that the government is too busy to deal with the other stuff instead of bitcoin because I like the freedom that I have right now of hodling bitcoin, no hassles.

[Razmirraz]

In my country, Indonesia. Bitcoin is only permitted as a commodity asset and may not be used as a means of payment. Making payments and purchases other than using fiat currency called Rupiah or Indonesian Rupiah or abbreviated as RP or IDR is strictly prohibited as regulated by legal provisions.

My country does not close or limit the space for Bitcoin and crypto to be used as assets for investment. In fact, recently the government has launched a futures exchange.
As someone who is very pro Bitcoin, I am very happy with those who still provide space for crypto actors to carry out their activities as long as they do not violate the legal provisions that have been made as I have mentioned above compared to other countries which are anti to all forms of crypto and perhaps even issuing special rules for those involved in crypto activities such as heavy sanctions.

The very fast development of Bitcoin in Indonesia is due to government support for crypto assets. Even though the Rupiah is still the only means of payment recognized by the government, the presence of Bitcoin in Indonesia is well received, especially since the government has started to launch a futures exchange. The availability of space for Bitcoin in Indonesia can provide convenience and comfort for the crypto community there. Apart from that, the government has also given legality to other futures exchanges, which indicates that Bitcoin has a place in Indonesia even though it is not yet recognized as a legal medium of exchange.

[Blitzboy]

In my country, Indonesia. Bitcoin is only permitted as a commodity asset and may not be used as a means of payment. Making payments and purchases other than using fiat currency called Rupiah or Indonesian Rupiah or abbreviated as RP or IDR is strictly prohibited as regulated by legal provisions.

My country does not close or limit the space for Bitcoin and crypto to be used as assets for investment. In fact, recently the government has launched a futures exchange.
As someone who is very pro Bitcoin, I am very happy with those who still provide space for crypto actors to carry out their activities as long as they do not violate the legal provisions that have been made as I have mentioned above compared to other countries which are anti to all forms of crypto and perhaps even issuing special rules for those involved in crypto activities such as heavy sanctions.

The very fast development of Bitcoin in Indonesia is due to government support for crypto assets. Even though the Rupiah is still the only means of payment recognized by the government, the presence of Bitcoin in Indonesia is well received, especially since the government has started to launch a futures exchange. The availability of space for Bitcoin in Indonesia can provide convenience and comfort for the crypto community there. Apart from that, the government has also given legality to other futures exchanges, which indicates that Bitcoin has a place in Indonesia even though it is not yet recognized as a legal medium of exchange.

The Indonesian government's acceptance of Bitcoin futures reflects its forward-thinking. Indonesia has adopted Bitcoin, providing its crypto community new opportunities. Many countries are wary of it. This country's legal currency is the Rupiah, however Bitcoin is growing in popularity. Futures exchanges are laying the groundwork for crypto-assets. Multiple futures exchanges approvals indicate a bright and open crypto future for Indonesia. I hope other countries follow Indonesia's lead and investigate crypto asset backing

[dothebeats]

Well in the Philippines, government doesn't really have any restrictions about Bitcoin since there's a lot more of issues that they need to solve first than Bitcoin. Since Bitcoins is not that popular to the people here especially the adults one which they are not involved in crypto thinking its a fraud or a scam. Mostly the people who's involved are the new generation one due to they are influenced by the media and in the internet. Last time I've heard government concerning about crypto is about NFT game axie where they are trying to put taxes but they cannot since it's decentralized.

I was just about to reply with the same information. It's true that the Philippine government is far too occupied to give any attention to Bitcoin with the unlimited issues the country is facing (God knows when it will all take a break). The last time the government gave attention to anything concerning crypto was indeed about the NFT game Axie (at least from what I remember), or is it the rumors surrounding the Maharlika Funds being a source for Bitcoin investment (?), anyway to put it simply the PH government isn't showing much interest on Bitcoin (at least as of now) to make any formal legal actions towards it (whether on legalizing it or banning it in total) and honestly I'd like to keep it that way, it will be harder for us and any Bitcoin users if the government stick their noses here.

[philipma1957]

So on this thread we have

Nigeria not banned but no direct dealings with a bank

Philippines government does not restrict

Canada strict kyc and  security status asset

Indonesia commodity

Bangladesh multiple obstacles  banned

Pakistan banned

India allows it and taxes it a lot much like USA

Japan The law recognizes it as a payment method that is not linked to the local currency.

Brazil  Brazil is a crypto friendly country

Greece in direct investment tax some banks banned transaction


I am USA
USA considers it to be a commodity it makes for a lot of reporting as every time you sell it or trade it you must do a tax report on that move at the end of the tax year.


All info was pulled from this thread so you may need to look for it I just consolidated it a bit. I am not taking credit for it. I did cut and paste from the posts above in order to summarize the info. I left out some info on

C.A.R
El Salvador
Slovenia
Portugal
Germany
Santa Lucia

as one post talked about them but did not say they live there.

[ultrloa]

Well in the Philippines, government doesn't really have any restrictions about Bitcoin since there's a lot more of issues that they need to solve first than Bitcoin. Since Bitcoins is not that popular to the people here especially the adults one which they are not involved in crypto thinking its a fraud or a scam. Mostly the people who's involved are the new generation one due to they are influenced by the media and in the internet. Last time I've heard government concerning about crypto is about NFT game axie where they are trying to put taxes but they cannot since it's decentralized.

I was just about to reply with the same information. It's true that the Philippine government is far too occupied to give any attention to Bitcoin with the unlimited issues the country is facing (God knows when it will all take a break). The last time the government gave attention to anything concerning crypto was indeed about the NFT game Axie (at least from what I remember), or is it the rumors surrounding the Maharlika Funds being a source for Bitcoin investment (?), anyway to put it simply the PH government isn't showing much interest on Bitcoin (at least as of now) to make any formal legal actions towards it (whether on legalizing it or banning it in total) and honestly I'd like to keep it that way, it will be harder for us and any Bitcoin users if the government stick their noses here.

The warning doesn't apply on who cryptocurrency but rather they only target Axie infinity which is currently famous at that time and they have good basis on their warning but still they didn't restrict it but rather let people to decide if they invest or not. Bitcoin and crypto is doing good in Philippines the adoption is booming since to many people now are interested about this so provably we can see this crypto thing well handled then declared as legitimate asset in Philippines.

[tjtonmoy]

This is not a good one for Bangladesh citizens. The government might think that they are protecting their citizens against crime or whatever but little will they realise that they are setting their citizens backwards.
Cryptocurrency has come to stay, while other countries are building crypto tech worlds of possibility, they are busy jailing cryptocurrency users who are nit confirmed criminals.

Criminals will continue to commit crimes whether it is with Bitcoin or local fiat money. Many powerful people from Bangladesh are still laundering money. Are they using Bitcoin? Of course not. They are using fiat money and the government knows this very well. What action have they taken? None! Literally none. All they do is make news out of it and after some time the hype or whatever you call it is over.

Those who have criminal thoughts in their mind will do it in any way possible. Doesn't matter if it is Bitcoin or fiat money. Why hasn't the government banned fiat money then? This whole system and the people running it are outdated in my opinion. They are unable to fix the problem at hand but they will try to create a new one on their own and try to fix it to manipulate the public. That's how it is here. So if anyone trying to visit Bangladesh to experience cryptocurrency, don't man. You'll be in trouble.

[348Judah]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country.

I do not think bitcoin legalized as a legal tender should be included because bitcoin has been made a legal tender in just two countries which are El Salvador which was the first country, and Central Africa Republic (CAR) which was the second country. Go to those countries and spend bitcoin, it is accepted everywhere.

In this context, we can either use it this way that countries where bitcoin is legal for use and there's no law that restrain the people from using it, know this that yet bitcoin is legal but not allowed by the banks to use andbthe government isn't accepting it's use either as a legal tender and the last one is the category where bitcoin is totally banned in a country against the use of making payments, lastly about spending bitcoin, I don't think one has to go to El-Savador or Central African Republic before he can be able to spend bitcoin, there are organizations and businesses accepting bitcoin in many countries and online malls, exceptions are countries where cryptocurrency is banned.

[0t3p0t]

Here in the Philippines, Bitcoin usage is normal and is not restricted. You can even pay Bitcoin in some stores in Boracay one of the tourist destination in the country. Though not illegal but still trading platforms and local wallets  were regulated by the Central Bank for anti-money laundering. P2P is still the most active form of trade to fiat maybe just like any country out there.

[Asuspawer09]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

• March 21, 2021: The CBN clarifies its position on the ban and states that individuals  are not prohibited from buying and trading crypto, just not through any Nigerian bank or fintech.

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

This was a trouble if you looking to invest or still wanted to continue your cryptocurrency journey, I dont really know if it is worth the risk so just you could invest or continue using Bitcoin since it's a different story when Bitcoin is banned or forbidden in your country since you could face possible penalties if you get caught.

Luckily here in my country, It wasn't really like cryptocurrency or bitcoin is restricted or banned here and they dont really support it the way I see it, but a lot of companies and platforms are already adapting to cryptocurrency technology to the point where you could already buy and sell cryptocurrency to some platforms here in my country, also there are some banks or E-wallets that already allow buying and selling Bitcoin but since it's still a centralized platform I dont really recommended it but I guess its already a good thing since at least there are a lot of progress on cryptocurrency and Bitcoin adaptation here in my country.

It seems like most of the platforms here are considering cryptocurrency as an investment but the markup or fees on every transaction are just so high, so I would still recommend other platforms.

[Mate2237]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

I am not disputing the fact in your thread but I will like to make some input. bitcoin was created since 2008 and launched in 2009 and from then, bitcoin has lived 14 years plus. and the hit on it was very high. Different allegations has been made against it but it still survived. And right now bitcoin is all known in all corners. Countries that dislike bitcoin are clearly written in the internet. just a mouse click you can get them all.

Cryptocurrency transaction is not banned in the country if it was ban you won't done any transaction but it is only with direct bank transaction is ban and the p2p is free flow among members.

[Ryu_Ar1]

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

The conditions are almost the same as in my country Indonesia at the moment because looking at the crypto developments that are happening in my country, it actually shows a positive indication for my country, especially with bitcoin because some time ago at the bitcoin conference Miami there was even one of our governor representatives who spoke there and wanted a renewal by creating a massive mining adoption in our country today.
But on the other hand, it is a commodity and here we still have regulations that the circulation of bitcoin and other assets in crypto is only as a material for investment and a commodity not for means of payment. I still feel that the government's intention to date is quite positive, even though there is no legal payment option for bitcoin but by accepting them and welcoming them now is enough to increase adoption in the country I live in.

[Rockson1]

In Nigeria, Bitcoin is not actually ban, but but the funny part is you cant trade Bitcoin directly to your bank because you will be tagged as a scammer, but with the help of P2P transaction we can't freely use Bitcoin without dealing with our banks.

[Baofeng]

Here in the Philippines, Bitcoin usage is normal and is not restricted. You can even pay Bitcoin in some stores in Boracay one of the tourist destination in the country. Though not illegal but still trading platforms and local wallets  were regulated by the Central Bank for anti-money laundering. P2P is still the most active form of trade to fiat maybe just like any country out there.

Yes, we are lucky enough that our government are really supportive of Bitcoin and crypto in general. And we have our own local exchanges that facilitates many bitcoin payments like internet, credit card or even electric bills.

P2P is active in exchange like Binance too, but there are a lot of scammers so just be careful about it. But in any case, yes, Philippines is one hub for Bitcoin and it was even at one point, ranks 2nd in crypto ownership.

https://bitpinas.com/cryptocurrency/philippines-ranks-2nd-in-crypto-ownership-survey/

[Captain Corporate]

It is still getting more popular after every day. Today I have seen some ads on the metro station, that is not a cheap ad either so some company actually put in some decent amount of money to get marketing and visibility there. Obviously, millions of people use it every day so it's not bad marketing, I agree that it was a smart decision on their behalf, but at the same time a very costly one. Even though its a good idea, spending millions on something like that means that these are people who have a lot of money already, and that is definitely a good sign that its growing even still. It grew a lot, and I assumed it would stop eventually, but it seems like its only getting more popular.

[nurilham]

The very fast development of Bitcoin in Indonesia is due to government support for crypto assets. Even though the Rupiah is still the only means of payment recognized by the government, the presence of Bitcoin in Indonesia is well received, especially since the government has started to launch a futures exchange. The availability of space for Bitcoin in Indonesia can provide convenience and comfort for the crypto community there. Apart from that, the government has also given legality to other futures exchanges, which indicates that Bitcoin has a place in Indonesia even though it is not yet recognized as a legal medium of exchange.

You're right. Indonesian government supports the development of Bitcoin investment. They legalize Bitcoin asset, people can have Bitcoin as their digital assets. Although we must pay taxes for the transaction of selling-buying Bitcoin in our local exchanges, Bitcoin trading and investment are legal at least. Sure, Bitcoin still can't be used for payment tool because it violates the laws. In Indonesia, the laws has stated that only Rupiah is legal currency to use for any transaction.

Well, Bitcoin has been accepted very well in Indonesia. We don't doubt to trade or invest in Bitcoin anymore. Through BAPPEBTI, the government has regulated all crypto-related activities, including Bitcoin trading or investment. They already released legal exchanges in Indonesia and legal crypto to buy-sell in the exchanges.

[milewilda]

The very fast development of Bitcoin in Indonesia is due to government support for crypto assets. Even though the Rupiah is still the only means of payment recognized by the government, the presence of Bitcoin in Indonesia is well received, especially since the government has started to launch a futures exchange. The availability of space for Bitcoin in Indonesia can provide convenience and comfort for the crypto community there. Apart from that, the government has also given legality to other futures exchanges, which indicates that Bitcoin has a place in Indonesia even though it is not yet recognized as a legal medium of exchange.

You're right. Indonesian government supports the development of Bitcoin investment. They legalize Bitcoin asset, people can have Bitcoin as their digital assets. Although we must pay taxes for the transaction of selling-buying Bitcoin in our local exchanges, Bitcoin trading and investment are legal at least. Sure, Bitcoin still can't be used for payment tool because it violates the laws. In Indonesia, the laws has stated that only Rupiah is legal currency to use for any transaction.

Well, Bitcoin has been accepted very well in Indonesia. We don't doubt to trade or invest in Bitcoin anymore. Through BAPPEBTI, the government has regulated all crypto-related activities, including Bitcoin trading or investment. They already released legal exchanges in Indonesia and legal crypto to buy-sell in the exchanges.

Here in our country which crypto is still sitting on the neutral side but basing off about the recognition and adoption then i could really tell that we are on the positive side when it comes to adoption.We do have that local exchange too on which it is really that heavily centralized and totally opposes on what crypto  does really give which is anonymity and decentralized but since these things could give out that kind of convenience and features on which users could make use to have that kind of accessibility and convenience then they wont really be minding on surrendering those things despite of the contrary on what crypto really is.
Im not eventually shock on such changes specially back in the past that they dont set out those strict rules until the time comes that you are really that subjected into possible taxes and since they are really that aware or been pretty wary about your transactions then possible taxations could really be applied.It do sucks and luckily we do have other options which we could be able to take on dealing with crypto which isnt really that under
of our own government which you could really be able to bypass. There are couple of ways and methods but only a few will really be able to realize it.

[Sarah Azhari]

You're right. Indonesian government supports the development of Bitcoin investment. They legalize Bitcoin asset, people can have Bitcoin as their digital assets. Although we must pay taxes for the transaction of selling-buying Bitcoin in our local exchanges, Bitcoin trading and investment are legal at least. Sure, Bitcoin still can't be used for payment tool because it violates the laws. In Indonesia, the laws has stated that only Rupiah is legal currency to use for any transaction.

Well, Bitcoin has been accepted very well in Indonesia. We don't doubt to trade or invest in Bitcoin anymore. Through BAPPEBTI, the government has regulated all crypto-related activities, including Bitcoin trading or investment. They already released legal exchanges in Indonesia and legal crypto to buy-sell in the exchanges.

That's right, we're quite comfortable using crypto in our country even as digital asset investment, I don't reject this, and I can accept it. And, of course, what you said is true, tax has become a problem because it's quite expensive and numerous. We don't know how to resolve it, because crypto is not a priority, and not as basic goods needs, so that situation we can't find an official government, senator, or prosecutor who can pay attention to this. Maybe after the election (2024), there will be a President who focuses on crypto, and reduce the tax.

[ancafe]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

Perhaps only El Salvador currently legalizes bitcoin as a legal means of transaction and most other countries only accept bitcoin as an investment asset, but do not allow users to use bitcoin as a legal means of payment. Several other countries completely reject the presence of bitcoin in their countries due to various aspects of consideration. Currently my country legalizes bitcoin as a commodity asset and we are also charged a tax of 0.1% of the transaction amount through the official exchange when making transactions, so it is still quite safe when talking about the growth of bitcoin in my country.

Our country is quite open to bitcoin investment and there are no restrictions whatsoever regarding investment, as long as users comply with these rules in my country bitcoin can still be used. We are still quite lucky, especially those involved in investment, because we can use Bitcoin without worrying about regulations that limit it.

[Tuturtinular]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

I come from Indonesia. Here legal crypto is only an asset, but cannot be used for payments. In our country, legal payments only use local fiat currency called “rupiah”. Our country has clearly regulated the legality of cryptocurrencies, and has a list of 500 legal crypto assets (bitcoins and altcoins)

Even though in our country we cannot use bitcoin and altcoins for payments, we are allowed to carry out trading activities on the crypto market. For me, that is good enough, because if bitcoin is used for payments, it is possible that our society is not ready because there are still many people who don't know about bitcoin. I think it's only a matter of time until bitcoin can be used for payment transactions

[kotajikikox]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

[fruktik]

I come from Indonesia. Here legal crypto is only an asset, but cannot be used for payments. In our country, legal payments only use local fiat currency called “rupiah”. Our country has clearly regulated the legality of cryptocurrencies, and has a list of 500 legal crypto assets (bitcoins and altcoins)

Even though in our country we cannot use bitcoin and altcoins for payments, we are allowed to carry out trading activities on the crypto market. For me, that is good enough, because if bitcoin is used for payments, it is possible that our society is not ready because there are still many people who don't know about bitcoin. I think it's only a matter of time until bitcoin can be used for payment transactions

The situation is almost identical in my country. You just can’t trade crypto assets yet, and taxes must be paid if there are coins and tokens in your wallets. Well, how do you like this state of affairs?
In recent years, nothing good has been done for citizens. A dictator has come to power who is terrified of letting go of power. He cannot even imagine letting go of control over financial flows from his bloody hands.
It’s already so sad that the government is trying to tighten any use of cryptocurrencies in people’s lives. As long as they are in power, nothing good will happen. Many remain “in the shadows” and do not stick their heads out once again.

[Unocoin_official]

Bitcoin in India today is trading at 22,09,802.93 INR yesterday it was at 21,81,422.18

[n0ne]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

In my country there is continuous conversation and no proper solution have been achieved. The government had on the revenue from cryptocurrency investment. However it hadn't made any statement on the legality of bitcoin. As the cryptocurrency is taxed people consider it to be legal and using it. Even in a meet organised this month have made discussion with different countries. Following the same there is possible chances of regulation coming into effect at the earliest.

[eightdots]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

In my country there is continuous conversation and no proper solution have been achieved. The government had on the revenue from cryptocurrency investment. However it hadn't made any statement on the legality of bitcoin. As the cryptocurrency is taxed people consider it to be legal and using it. Even in a meet organised this month have made discussion with different countries. Following the same there is possible chances of regulation coming into effect at the earliest.

I think this is generally the case in many countries. In some countries, crypto is defined as risky assets. That's why trading crypto is not prohibited, but it is said that caution should be exercised.

States never say no to income from taxes. That's why governments are working to collect taxes during the periods when the crypto market started to become popular and crypto currencies started to rise. So far, no high tax decision has been made, but I think they will do this through crypto exchanges in the coming times.

[Tony116]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

The same thing is happening in my country, cryptocurrencies are not banned but there is also no clear legal framework for crypto. As far as I know, they are rushing regulations in the next few years and what we are getting are warnings about the risks of investing in crypto. That means we are free to invest in any form, but if we are scammed, we will not be protected by law because there are no regulations. For me, I would rather have that freedom than have regulations in exchange for safety at the expense of freedom.

[Strongkored]

For the Indonesian state, this has been quite clearly informed by several members and this could happen because the current government really prioritizes digitalization, even during the campaign period several years ago, the current Indonesian president once mentioned cryptocurrency, yes about crypto, not Bitcoin, and maybe that was because of the knowledge he had is still limited enough to think crypto and Bitcoin are the same.
At least for now, Indonesia is still quite friendly about Bitcoin but a change in leadership will probably also change views about Bitcoin but hopefully it will make Bitcoin more widely adopted and not only as a commodity asset but also as a legal means of payment but this will require definite laws.

[Litzki1990]

Bitcoin is a digital currency that has spread all over the world. Maybe in some countries Bitcoin is officially approved and in some countries Bitcoin is not officially approved and in some countries Bitcoin is completely illegal. Even if Bitcoin is illegal in any country, people are using Bitcoin from all those countries. There are many countries which do not support crypto exchange and people of those countries use the exchange and bitcoin through VPN or some other means.  

To my knowledge El Salvador is the first country to accept Bitcoin as legal tender in their country. El Salvador may be the next country to adopt Bitcoin as a legal document to change their economic status.

[Tuturtinular]

The situation is almost identical in my country. You just can’t trade crypto assets yet, and taxes must be paid if there are coins and tokens in your wallets. Well, how do you like this state of affairs?

In my country, trading crypto assets on the crypto market is legal. As I said, we are prohibited from using crypto as a payment currency. I think my country is also not ready to implement payments using crypto because there are still many people who don't know about crypto. So I don't think it's a problem because it's legal for us to own and hold crypto

In recent years, nothing good has been done for citizens. A dictator has come to power who is terrified of letting go of power. He cannot even imagine letting go of control over financial flows from his bloody hands.
It’s already so sad that the government is trying to tighten any use of cryptocurrencies in people’s lives. As long as they are in power, nothing good will happen. Many remain “in the shadows” and do not stick their heads out once again.

In my opinion, it is not that simple, especially for developing countries like Indonesia, using Bitcoin as a payment currency will make things difficult and can disrupt economic stability. Moreover, many people don't know about bitcoin, this situation can be exploited by individuals to commit fraud using bitcoin.

Do you have an argument and analysis that if a country uses bitcoin as a payment currency, then that country will have a good economy? In my opinion, economic policy must adapt to society, if it is not ready it will be a blunder and worsen economic stability.

[kingvirtus09]

Maybe at this time, in all countries, there are Bitcoin or crypto believers. Maybe different in its quantity or number. Today, in our country, Bitcoin or any cryptocurrency is not banned. Many companies and merchants here are connected to cryptocurrency, or Bitcoin.

And there are others who have even conducted seminars in different places; that's why sometimes it is reported that cryptocurrency is being used to scam people here.

[buwaytress]

Nice thread but you might need to distill and verify responses (otherwise it's easier to refer to this wiki page, for example).

More helpful, would be practical status. e.g., can I use Bitcoin easily in my country? Can I easily trade it? Are there actually any repercussions for using it as a person/individual (even where it's supposedly illegal?). And, conversely, is it actually easy and possible to use where it's legal?

I can answer for Malaysia:
- easily traded, big demand, lots of online exchangers accept.
- not easily used, merchant network unclear, unstable, and unpopular (they have plenty of free, instant cash alternatives with deposits insured).
- No repercussions or danger of using unless mining on commercial scale while paying residential tariffs

[Ojima-ojo]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

Your situation is same as my country,  which is not a banned but a warning to the citizens about the risk associated with cryptocurrencies investments and this could go a long way if and when the citizens decides to take part in anything as related to cryptocurrencies and what area and aspects their involved.


Most at time,  some of the crypto/Bitcoin investors mistake Bitcoin to be some form of a Ponzi scheme,  where individuals could invest x amount and get xxxx profits within a short stipulated time, those are all lies and will only lead you to scams,  but if you must take the part of Bitcoin investment,  then you have to go all in for the long term.


Most countries around the world have not made any stand on Bitcoin since they don't have control over Bitcoin access in their countries,  since Bitcoin is decentralized.

[Texac]

Most at time,  some of the crypto/Bitcoin investors mistake Bitcoin to be some form of a Ponzi scheme,  where individuals could invest x amount and get xxxx profits within a short stipulated time, those are all lies and will only lead you to scams,  but if you must take the part of Bitcoin investment,  then you have to go all in for the long term.

I don't think many people are confused about this today because bitcoin has become so famous and most know it is an asset and not a ponzi scheme.  but the problem of many people who have not invested in bitcoin is its volatility, not everyone like us likes strong volatility.  however, newbies still mistakenly believe that investing in bitcoin is easy and can make quick profits, which is still a fairly common mistake for newbies.

Most countries around the world have not made any stand on Bitcoin since they don't have control over Bitcoin access in their countries,  since Bitcoin is decentralized.

Not really, many countries have been introducing regulations on cryptocurrencies as well as bitcoin, they do not ignore them just because they cannot be controlled.  You are underestimating the government.  they won't easily ignore our huge taxes, don't expect that just because the government hasn't acted yet doesn't mean they will let us be free forever.

[Z_MBFM]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

The same thing is happening in my country, cryptocurrencies are not banned but there is also no clear legal framework for crypto. As far as I know, they are rushing regulations in the next few years and what we are getting are warnings about the risks of investing in crypto. That means we are free to invest in any form, but if we are scammed, we will not be protected by law because there are no regulations. For me, I would rather have that freedom than have regulations in exchange for safety at the expense of freedom.

Our government in Bangladesh has declared Bitcoin as illegal. Yet there are huge amounts of people using Bitcoin to trade and hold. But there is not much legal trouble with it.  But legal action can be taken against those who make million dollar transactions and campaign with someone. And the government, including Bangladesh Bank, says that the government will not be held responsible if anyone suffers financial loss in bitcoin transactions. He has to take the responsibility himself. so we think that Bitcoin is not completely illegal in Bangladesh as well.

[Bitcoin_people]

In the country I live in, my country's government has made Bitcoin illegal, it is a crime against the law for Bitcoin tenders not to be published in my country. Where different countries around the world do their economic transactions with Bitcoin, the government of my country is completely opposite. My country's government thinks that if bitcoin is legalized by tender, it might threaten their domestic currency, so they don't legalize bitcoin. And does the government of my country think that if bitcoin is legalized then maybe there will be illegal activities and what money laundering will be recognized as a legal crime by Bangladesh government. But we have seen many more bitcoins officially released and they have been able to use bitcoins to improve the economy of the country. Accordingly I think in my country if bitcoin is legalized by the government then surely economically they can develop well and reach a good level in the future.

[DYING_S0UL]

I am from bangladesh. Unfortunately like most of the developing countries, it's still illegal to use crypto in my country. Although many people use it from my country, to feed and provide for their family, even me, but we don't/can't share crypto information with others. You can say we secretly use it. We all know crypto can be much much volatile, I'm not just talking about Bitcoin but all that related with crypto. Also crypto is best know for it's anonymity. It is basically untraceable. In short it can be weaponized. I think the Government fear this the most. Can't blame anyone. Everything has it's good and bad sides. But at least, crypto gave us our financial freedom.

[Mpamaegbu]

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

It's not banned but its transactions with banks are banned? So, what's the difference in all that? How can you not ban something but ban its transactions? Truth remains that the Nigerian government doesn't really know what to expect and do when it comes to Bitcoin. The
Nigerian government actually banned Bitcoin trading but since she can't control or regulate it, it's turning a blind eye and acting like she's ok with it. I believe the ban is still on, though inefficient as it's at the moment.

Hence I can say the city where I am now currently we are Bitcoin friendly, for those who wanna lodge over there can indicate interest and I drop location.

Until that fear of account seizure is completely gone, that's when I will say Nigeria is Bitcoin friendly. Until then, we aren't. If you doubt it, when next you trade on P2P, put crypto in your narration and see what happens. Of course, your guess is as good as mine.

Then the government made rules through the central bank that using and trading cryptocurrency were strictly prohibited, and anyone found to use them would be punished for that.

This must be really frustrating for you, isn't it? Does that mean you haven't got the luxury of spending your coins then?

[kentrolla]

I am from bangladesh. Unfortunately like most of the developing countries, it's still illegal to use crypto in my country. Although many people use it from my country, to feed and provide for their family, even me, but we don't/can't share crypto information with others. You can say we secretly use it. We all know crypto can be much much volatile, I'm not just talking about Bitcoin but all that related with crypto. Also crypto is best know for it's anonymity. It is basically untraceable. In short it can be weaponized. I think the Government fear this the most. Can't blame anyone. Everything has it's good and bad sides. But at least, crypto gave us our financial freedom.

I hope someday people will get freedom to use crypto freely throughout the world but a bigger challenge awaits us apart from the government who are discouraging people from using crypto currency there are capitalists who are heavily involved into crypto business and manipulating the market using their money to benefit them, I am more scared about these capitalist and crypto mafias than government.

[armanda90]

In my country Indonesia, Bitcoin still illegal transaction for payment currency and have cases with some tourism and our citizen under arrest when adopting bitcoin for payment tender. But Bitcoin is allowed as commodity assets and available for trading or investing trough many local exchange support from government legalization. In my country one step forward with cryptocurrency transaction, our government have adopted with taxes for all cryptocurrency transaction when trading in local exchange market. Not worry with my country because bitcoin have been supported by government although still can't adopt or using as currency payment transaction.

For Op, if your country not ability withdrawing cryptocurrency assets to the Bank you can use option selling stable coins trough P2P on exchange market like Binance, Kucoin and Huobi.

[salad daging]

As we know a lot is stated by several other users that Indonesia is quite friendly with bitcoin, this has been facilitated a lot including with the legality recorded in its government, now we are very flexible and there is no limit that bitcoin as a commodity / investment asset is nothing more than that because in any payment or use that violates the government will punish it.

Currently;
There are several local exchanges where it is easy to trade bitcoins into local currencies.
The community is growing rapidly.
Support from the government.

but also as a legal means of payment but this will require definite laws.

Not sure about this, because Indonesia will definitely maintain IDR as a legal currency in any transaction.

[RockBell]

I am from bangladesh. Unfortunately like most of the developing countries, it's still illegal to use crypto in my country. Although many people use it from my country, to feed and provide for their family, even me, but we don't/can't share crypto information with others. You can say we secretly use it. We all know crypto can be much much volatile, I'm not just talking about Bitcoin but all that related with crypto. Also crypto is best know for it's anonymity. It is basically untraceable. In short it can be weaponized. I think the Government fear this the most. Can't blame anyone. Everything has it's good and bad sides. But at least, crypto gave us our financial freedom.

In my own country, it is not legal it is not illegal so it is still very operational I even see people owing ant minners so to some extent the government is flexible on the Bitcoin environment I only know of periods where the government was locking accounts that are crypto-related but along the line it was becoming more flexible to use or invest in bitcoin, and sincerely bitcoin have helped a lot of people and also provided for a lot of family. I try to share any information related to crypto but I have to strategies how I share such information it is very risky when introducing anyone because some people will start blaming you for how they invested money and the price will go down and will decide to sell, the best thing I will make the nature of bitcoin very clear to avoid drama.

[Mr.suevie]

I am from bangladesh. Unfortunately like most of the developing countries, it's still illegal to use crypto in my country. Although many people use it from my country, to feed and provide for their family, even me, but we don't/can't share crypto information with others. You can say we secretly use it. We all know crypto can be much much volatile, I'm not just talking about Bitcoin but all that related with crypto. Also crypto is best know for it's anonymity. It is basically untraceable. In short it can be weaponized. I think the Government fear this the most. Can't blame anyone. Everything has it's good and bad sides. But at least, crypto gave us our financial freedom.

In my own country, it is not legal it is not illegal so it is still very operational I even see people owing ant minners so to some extent the government is flexible on the Bitcoin environment I only know of periods where the government was locking accounts that are crypto-related but along the line it was becoming more flexible to use or invest in bitcoin, and sincerely bitcoin have helped a lot of people and also provided for a lot of family. I try to share any information related to crypto but I have to strategies how I share such information it is very risky when introducing anyone because some people will start blaming you for how they invested money and the price will go down and will decide to sell, the best thing I will make the nature of bitcoin very clear to avoid drama.

It's because this same drama so many people have avoid and shy away from letting other people know about Bitcoin because humans are very quick to judge and hold others responsible for action that results to failure in any thing they put their hands to try out especially when it comes to investment means like crypto or Bitcoin to be specific

[icalical]

Bitcoin has been a hit off in my country in the last couple of year, it gets so popular so many people who doesn't really understand crypto just like FOMO-ing. The worst thing is some scammers abuse it by selling some crappy ponzy scheme claiming that they are a crypto/blockchain project, and they are 'the next Bitcoin', that's also give Bitcoin bad reputation.

Try to share any information related to crypto but I have to strategies how I share such information it is very risky when introducing anyone because some people will start blaming you for how they invested money and the price will go down and will decide to sell, the best thing I will make the nature of bitcoin very clear to avoid drama.

Yeah happened to me once, one of my relatives bought Bitcoin, I wasn't even suggesting him to do that, he was just asking about how do I receive my payment internationally, then I told him about Bitcoin, then he know that Bitcoin is also a kind of investment, he ask me an exchange recommendation, how to buy it, etc. Now, that Bitcoin keep decreasing, he blamed me for telling him about Bitcoin. And I learn from that, now every time I explain about bitcoin, I will also explain the nature of the market, how it's still volatile, and that it's risky like any other type of investment is also risky, it's not quick way to get rich.

[Obari]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

Exactly  because personally I don't know if to say that bitcoin is banned in my country or not because there are several stories surrounding  it  and I've also seen cases where people  where harassed simply because they posses bitcoin and you'll  agree with me that, that's one discouraging act against bitcoin.
I'm not trying to paint my country black but I'm already beginning  to wonder why people think k bitcoin  or cryptocurrency in general  isn't banned in my country when you don't have the right to use it freely and in cases where one mistakenly includes any cryptocurrency term in their bank transactions,  then such money or account are at high risk of forfeiture, hence I believe bitcoin is illegal in my country.

[fruktik]

Bitcoin in India today is trading at 22,09,802.93 INR yesterday it was at 21,81,422.18

Thank you. Incredibly useful information. Can you tell us in more detail about your country and how things are going for you? Your message is not very informative and leads to strange thoughts.
We would all love to read what you personally think about the government's stance on Bitcoin. Do you personally have any advantages, prospects, or plans?
Don’t be shy and write in more detail, in more detail, so that we can assess the situation.

[kotajikikox]

there is no concrete law or stand in My country , either this is adopted or not but we have no restriction and no tax applied in crypto earning.
though the government keeps giving warning to the people about the risk and the potential scam that may come across .
and also seemingly that our president now has a good look for crypto and wishing adoption will come before His terms ended.

In my country there is continuous conversation and no proper solution have been achieved. The government had on the revenue from cryptocurrency investment. However it hadn't made any statement on the legality of bitcoin. As the cryptocurrency is taxed people consider it to be legal and using it. Even in a meet organised this month have made discussion with different countries. Following the same there is possible chances of regulation coming into effect at the earliest.

you must be thankful at least there are no banning or restrictions mate,
though there are noi clear stand yet you are allow to use and invest in crypto.
regulatory means clarity , but not banning so maybe this is much better for the movement of crypto there.
and yes you can have mentione it that the effect will be earliest but yet good riddance for all of you in that country.

[Dzwaafu11]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

In Nigeria, our government doesn’t have problems with bitcoiners, but the only thing we face with the government is that they don’t legalise using bitcoin. If you wish to use it, go ahead; you are free to do it, but they won’t legalise it, and it will not be part of the country's law. Again, they won’t say anything if anything happens to your funds; that is, the local banks won’t put their hand up in any case, and you will be the one to sort yourself out. And I believe that with this, gradually we will start getting more people to accept bitcoin in the country.
 
However, the same thing happened to one guy in 2021/2022 when the Economic and Financial Crimes Commission (EFCC) said he was using something that was not legalised by the county government. We call him B-Lord (Bitcoin Lord). They went to court by then, and the guy won the case because the guy was in his right, and he kept on saying that the government doesn’t say we shouldn’t use it, but they won’t legalise it, so anyone who wishes can use it, and since this guy even has his house, he teaches people about bitcoin and other cryptocurrencies.

[Bobrox]

In Nigeria, our government doesn’t have problems with bitcoiners, but the only thing we face with the government is that they don’t legalise using bitcoin. If you wish to use it, go ahead; you are free to do it, but they won’t legalise it, and it will not be part of the country's law. Again, they won’t say anything if anything happens to your funds; that is, the local banks won’t put their hand up in any case, and you will be the one to sort yourself out. And I believe that with this, gradually we will start getting more people to accept bitcoin in the country.

In your country Nigeria if Bitcoin not legalize payment transaction but allowed or not using bitcoin as investment assets? Nigeria is most popular country with Bitcoin transaction due in this forum I see many user from there. In my country Indonesian, Bitcoin is not legal currency transaction but allowed for trading and investing. Government in my country have adopt taxes transaction by using cryptocurrency when trading in local currency exchange market. For me Bitcoin allowed or not as legal payment currency transaction is not bigger problem during we are allowing for trading and investing with bitcoin. Government friendly with cryptocurrency trader and they are happiness when huge transaction of bitcoin or cryptocurrency will earn much benefit from taxes income.

Hope your government there have friendly respond with cryptocurrency and looks adopt taxes for all transaction in local currency exchange will worth and don't worry with bitcoin will banned one day later.

[HONDACD125]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

• March 21, 2021: The CBN clarifies its position on the ban and states that individuals  are not prohibited from buying and trading crypto, just not through any Nigerian bank or fintech.

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

Bitcoin and crypto currency have been outlawed in our country and security agencies are cracking down on those involved in such activities. We cannot legally transfer dollars or transactions through the bank, but we do not mention dollars in the money we send to each other's banks. , because here banks also monitor every transaction. Bankers can freeze our accounts if they suspect that they are doing P2P transactions or buying dollars. But often talk of legislating to ban it.


 Most security agencies warn banks to identify people involved in crypto currency trading and freeze their accounts, but since no such law has been passed yet, people are still Investing in crypto currencies and Bitcoin. So, crypto currency is not banned in our country like your country, but transactions with banks are prohibited. There is confusion in our country that whenever there is any news in the media that mentions crypto ban, many people panic and sell their assets at a loss and transfer their money to banks. there are often talks of Binance and other exchanges being banned from working in the country. Which creates an atmosphere of fear.

[kingvirtus09]

Here in our country, digital currency like Bitcoin or cryptocurrency is not banned. Well, in fact, there are even events that are happening regarding the spread of adoption of Bitcoin or blockchain technology that they tackle.

And when it comes to those who have adopted Bitcoin or crypto, there are many merchants who have accepted it as a mode of payment in their businesses as well. The only problem is that sometimes it is still unavoidable in the news that scammers are still using cryptocurrency here to prey on people, something that should not be the case.

[Gallar]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.
~Snip

The status of crypto currency in the country where I live is as a commodity asset.

In its function, Crypto Assets are still prohibited from being used as a means of payment, but as an investment tool they can be included as a commodity that can be traded on the futures exchange.

Source: https://legalitas.org/tulisan/hukum-kripto-indonesia#:~:text=Dasar%20Hukum%20Peraturan%20Perdagangan%20Aset,dapat%20diperdagangkan%20di%20bursa%20berjangka.

So with the issuance of this regulation, crypto investors in my country can be more comfortable and not afraid of investing and trading crypto assets.

In addition, cryptocurrency mining in my country is also carried out. A big example is mining bitcoin. In fact, some time ago, there was news that crypto mining in my country was the cause of a lot of pollution. So with this, we can be sure that there are quite a lot of crypto miners, such as bitcoin, in the country where I live.

And regarding the government's friendliness towards the existence of cryptocurrency, in my opinion the response is mediocre. Because until now there has been no criticism or anything attacking cryptocurrency from the government in my country. So you could say that the government in my country has a neutral response to the presence of cryptocurrencies.

[CryptounityCUT]

Greetings to all,

It's notable that some countries remain hesitant to embrace cryptocurrency, but I firmly believe that doing so could potentially have a positive impact on their economies. Swift adoption often leads to significant improvements in areas where there may be shortcomings.

I must admit that here in Slovenia, my home country, cryptocurrency has gained significant popularity, and its adoption has been rapid. This has empowered individuals to securely store, transfer, trade, or convert cryptocurrency into fiat currency. Slovenia is also actively working towards establishing a taxation framework for cryptocurrency, which I consider to be another crucial step towards achieving widespread adoption of crypto.

[peter0425]

Greetings to all,

It's notable that some countries remain hesitant to embrace cryptocurrency, but I firmly believe that doing so could potentially have a positive impact on their economies. Swift adoption often leads to significant improvements in areas where there may be shortcomings.

but we have some countries that tries to even adopt bitcoin and yet half or more than of their people are going against the said adoption like how EL Salvador facing the problem now?

but that doesn't mean I believe that this is not helpful at all because I myself believe in what and how bitcoin will help each country that will accept it.

I must admit that here in Slovenia, my home country, cryptocurrency has gained significant popularity, and its adoption has been rapid. This has empowered individuals to securely store, transfer, trade, or convert cryptocurrency into fiat currency. Slovenia is also actively working towards establishing a taxation framework for cryptocurrency, which I consider to be another crucial step towards achieving widespread adoption of crypto.

proud that you have a country that gaining its bitcoin or crypto popularity so we are looking for a brighter use and acceptance of Bitcoin in Slovenia in the coming years?

[Blitzboy]

`

Bitcoin and crypto currency have been outlawed in our country and security agencies are cracking down on those involved in such activities. We cannot legally transfer dollars or transactions through the bank, but we do not mention dollars in the money we send to each other's banks. , because here banks also monitor every transaction. Bankers can freeze our accounts if they suspect that they are doing P2P transactions or buying dollars. But often talk of legislating to ban it.


 Most security agencies warn banks to identify people involved in crypto currency trading and freeze their accounts, but since no such law has been passed yet, people are still Investing in crypto currencies and Bitcoin. So, crypto currency is not banned in our country like your country, but transactions with banks are prohibited. There is confusion in our country that whenever there is any news in the media that mentions crypto ban, many people panic and sell their assets at a loss and transfer their money to banks. there are often talks of Binance and other exchanges being banned from working in the country. Which creates an atmosphere of fear.

Decentralised and p2p were ones the goal of Bitcoin and other cryptocurrencies. Their goal is to eliminate intermediaries and break down barriers.

The state of your nation makes it harder. Your indirect trades demonstrate how people adapt to limitation. Unfortunately, lack of information causes panic and unusual behaviours, forcing people to make fast decisions.

Though, crypto technology improve constantly. Decentralised financial platforms may solve problems without banks. Until then, it might be best to stay aware, be careful, and seek for help in online community, like bitcointalk

[dothebeats]

Here in our country, digital currency like Bitcoin or cryptocurrency is not banned. Well, in fact, there are even events that are happening regarding the spread of adoption of Bitcoin or blockchain technology that they tackle.

And when it comes to those who have adopted Bitcoin or crypto, there are many merchants who have accepted it as a mode of payment in their businesses as well. The only problem is that sometimes it is still unavoidable in the news that scammers are still using cryptocurrency here to prey on people, something that should not be the case.

It is mostly the same here in the country I live in. Bitcoin or cryptocurrency is not banned at all. However, there are still news and portrayal from the media that is severely negative. Hence, a big percentage of the general public's opinion and perspective of Bitcoin and cryptocurrency is that of a source of scam and illegal transactions. However, much like in your country, there are also a good percentage of individuals using them and conducting transactions, there are also events that spreads factual information about Bitcoin and cryptocurrency to make a better name for them and eliminate false negative news that are present in local social media and unverified news platforms.

[Vaskiy]

In my country from the beginning there is no big support for cryptocurrency from the government. It didn't make any information or announcement regarding the acceptance of bitcoin or legalizing the usage of bitcoin. Over time this had changed as the government found the increased interest for cryptocurrency among the common people. At some point government took cryptocurrency acceptance into discussion and taxed 30% on revenue and 1% tds. Even after that there is no official announcement on the legal status of cryptocurrency within the country.

[danskgraes]

Thanks for sharing your experience. It's a testament to how volatile the regulatory environment can be. Let's hope for more transparent and crypto-friendly policies in the future, not just in Nigeria but worldwide. It's a wild crypto world out there!

[peter0425]

I am from bangladesh. Unfortunately like most of the developing countries, it's still illegal to use crypto in my country. Although many people use it from my country, to feed and provide for their family, even me, but we don't/can't share crypto information with others. You can say we secretly use it. We all know crypto can be much much volatile, I'm not just talking about Bitcoin but all that related with crypto. Also crypto is best know for it's anonymity. It is basically untraceable. In short it can be weaponized. I think the Government fear this the most. Can't blame anyone. Everything has it's good and bad sides. But at least, crypto gave us our financial freedom.

I hope someday people will get freedom to use crypto freely throughout the world but a bigger challenge awaits us apart from the government who are discouraging people from using crypto currency there are capitalists who are heavily involved into crypto business and manipulating the market using their money to benefit them, I am more scared about these capitalist and crypto mafias than government.

this is the hope of the whole crypto community , and this is my prayer since years ago but as we all knew that this will never happen , even it will take forever because there will be surely one that will disagree or oppose.
so lets keep hoping that our country will act accordingly.
keep pushing people around you to invest and trust , use crypto for the future so the govermment will be pushed to take it as there.

[CryptoBoss9]

Bitcoin is totally legal in the UK. Regulations in the United Kingdom allow residents to buy and sell cryptocurrencies. I have a private wallet and I also have used my Paypal Wallet, amd I have an account on Blockchain.com. I have paid and received cryptos with no issues whatsoever.

[HONDACD125]

`

Bitcoin and crypto currency have been outlawed in our country and security agencies are cracking down on those involved in such activities. We cannot legally transfer dollars or transactions through the bank, but we do not mention dollars in the money we send to each other's banks. , because here banks also monitor every transaction. Bankers can freeze our accounts if they suspect that they are doing P2P transactions or buying dollars. But often talk of legislating to ban it.


 Most security agencies warn banks to identify people involved in crypto currency trading and freeze their accounts, but since no such law has been passed yet, people are still Investing in crypto currencies and Bitcoin. So, crypto currency is not banned in our country like your country, but transactions with banks are prohibited. There is confusion in our country that whenever there is any news in the media that mentions crypto ban, many people panic and sell their assets at a loss and transfer their money to banks. there are often talks of Binance and other exchanges being banned from working in the country. Which creates an atmosphere of fear.

The state of your nation makes it harder. Your indirect trades demonstrate how people adapt to limitation. Unfortunately, lack of information causes panic and unusual behaviours, forcing people to make fast decisions.

Though, crypto technology improve constantly. Decentralised financial platforms may solve problems without banks. Until then, it might be best to stay aware, be careful, and seek for help in online community, like bitcointalk

Our situation is made difficult because some people are trying to legalize crypto currency in the country but the government does not want to legalize crypto currency and the biggest obstacle is the banking sector.The second biggest reason is that government officials don't know anything about crypto currency, so they consider it a fraud and a scam, and when the price of bitcoin has fallen,So they say that people will lose by investing in it.

The biggest point of concern for us is that all of us who trade or invest are always afraid No one openly talks about crypto currencies because the government can take action at any time,and no one can invest openly,because if all exchanges are banned from operating in the country, we will have to sell our assets at a loss, so investing more is not without risk.Of course, crypto technology has improved due to which people who know about hard wallets have transferred their assets to hard wallets so that even if the government takes any action, our assets will be safe in hard wallets.

[Fivestar4everMVP]

I am also from Nigeria, and I can tell that the Nigerian government are particularly confused with how to go about with Bitcoin and cryptocurrencies, they are also afraid of Bitcoin and cryptocurrencies as well, possibly because the central bank of Nigeria sees crypto as a big threat to their business, which is they rushed to develop and release eNaira, thinking that since Nigerians love online transactions and have been transacting through cryptocurrencies, we will love and start transacting with the eNaira, but unfortunately for them, what they expected is not what they saw, Nigerians completely ignored eNaira, even when they came up with the cashless policy with caused extreme lack of cash in the entire country, Nigerians still  ignored eNaira.

Them seeing that there is no way to go about it, they decide to impose 10 percent tax on crypto gains, even when they have not lifted the ban on crypto transactions through banks, a very funny people in charge of affairs in my country  .

[3kpk3]

BTC and trading cryptocurrencies in general is completely legal in my country, but my trash government ended up imposing high taxes on them since they realised that they couldn't ban them.

Am actually envious of El Salvador etc citizens where their government allows them to trade crypto freely without any messed up restrictions, crazy taxes etc.

[Blitzboy]

~snip~

Our situation is made difficult because some people are trying to legalize crypto currency in the country but the government does not want to legalize crypto currency and the biggest obstacle is the banking sector.The second biggest reason is that government officials don't know anything about crypto currency, so they consider it a fraud and a scam, and when the price of bitcoin has fallen,So they say that people will lose by investing in it.

The biggest point of concern for us is that all of us who trade or invest are always afraid No one openly talks about crypto currencies because the government can take action at any time,and no one can invest openly,because if all exchanges are banned from operating in the country, we will have to sell our assets at a loss, so investing more is not without risk.Of course, crypto technology has improved due to which people who know about hard wallets have transferred their assets to hard wallets so that even if the government takes any action, our assets will be safe in hard wallets.

it's 2023, and we're still having conversations as if Bitcoin was some obscure dark-web currency. The failure here is not just the government's lack of understanding, but also the banking sector's stubbornness to adapt. We can't keep disregarding a technology that has global implications just because some officials have a skewed, uneducated perception of it.

Yes, Bitcoin has its volatility, but so do stock markets and commodities. No investment is without risk; hence, painting Bitcoin with a broad brush as a "fraud" is both unfair and uninformed. Governments and banking sectors worldwide have started to integrate cryptocurrencies; why should your country be left behind?

As for hard wallets, good move. But that's not a long-term solution. What we need is systemic change, not individual band-aids.

[CryptopreneurBrainboss]

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

What's the point of not banning bitcoin when bitcoin can't be used illegally in the country, crypto traders are target of the government through law enforcement officers, bank are been directed to closed down any account noticed to be interacting with cryptocurency through P2P transaction. The whole government is anti-bitcoin as frequently there are laws that just shows the government are clueless on what to do concerning bitcoin in the country. They would had just gone ahead to ban Bitcoin than confusing us because if you become a well known crypto investors or traders, you can become a target to law enforcement officers as they target you to extort money from you by tagging you a criminal and we know the justice system in the country isn't very effective.

the central bank of Nigeria sees crypto as a big threat to their business, which is they rushed to develop and release eNaira, thinking that since Nigerians love online transactions and have been transacting through cryptocurrencies, we will love and start transacting with the eNaira,

This should be the summary of everything that's happening in the country because all this moves are coming from a point of fear, they're afraid of Bitcoin and know if they openly ban the cryptocurency it'll only encourage more people to pick interest in the cryptocurrency. The government have never done anything that favors the people and people will always opposed whatever decision the government takes. eNaira was a failure from the launched, they claim it uses a blockchain but we knew those were just lies and a use of the buzz words to draw the youths attention to their projects. A country that does consider the situation of her citizens before launching an APP isn't to be taken seriously.

[Dunamisx]

the central bank of Nigeria sees crypto as a big threat to their business, which is they rushed to develop and release eNaira, thinking that since Nigerians love online transactions and have been transacting through cryptocurrencies, we will love and start transacting with the eNaira,

This should be the summary of everything that's happening in the country because all this moves are coming from a point of fear, they're afraid of Bitcoin and know if they openly ban the cryptocurency it'll only encourage more people to pick interest in the cryptocurrency. The government have never done anything that favors the people and people will always opposed whatever decision the government takes. eNaira was a failure from the launched, they claim it uses a blockchain but we knew those were just lies and a use of the buzz words to draw the youths attention to their projects. A country that does consider the situation of her citizens before launching an APP isn't to be taken seriously.

Now they have learned their lesson in knowing the right thing to do, that the government is in power doesn't mean they can't respect the people's opinion and choice, the enaira launched was left useless because the people don't need it, what they want us bitcoin, which is a decentralized network which will render them control over their financial economy, aren't we supposed to by now have freedom in every aspects of human life, if the government can't allow for digital currency decentralization then we are still in the midst of modern slavery, this is not a problem faced by Nigeria alone but a global one.

[Stable090]

BTC and trading cryptocurrencies in general is completely legal in my country, but my trash government ended up imposing high taxes on them since they realised that they couldn't ban them.

Almost every country's citizens are facing different challenges about bitcoin. In my country, bitcoin is neither legal nor illegal, but the central bank of my country imposed a ban on all bank accounts that have been connected to bitcoin transactions previously. The central bank directed all the commercial banks to ban any accounts that have a history of bitcoin transactions, which really affected some people and caused panic. This is one of the reasons why lots of stores and business owners are not accepting bitcoin as payment methods because they don’t want anything that is going to affect their accounts and businesses.
 
Since the new administration came into power, everything has stopped, and I hope he will ask all banks to lift the ban on all affected accounts. I'm sure if he can do that, it’s going to increase bitcoin adoption in my country because all the business owners who were scared before will have confidence and will start accepting bitcoin as a payment method.

[fuguebtc]

BTC and trading cryptocurrencies in general is completely legal in my country, but my trash government ended up imposing high taxes on them since they realised that they couldn't ban them.

Almost every country's citizens are facing different challenges about bitcoin. In my country, bitcoin is neither legal nor illegal, but the central bank of my country imposed a ban on all bank accounts that have been connected to bitcoin transactions previously. The central bank directed all the commercial banks to ban any accounts that have a history of bitcoin transactions, which really affected some people and caused panic. This is one of the reasons why lots of stores and business owners are not accepting bitcoin as payment methods because they don’t want anything that is going to affect their accounts and businesses.
 
Since the new administration came into power, everything has stopped, and I hope he will ask all banks to lift the ban on all affected accounts. I'm sure if he can do that, it’s going to increase bitcoin adoption in my country because all the business owners who were scared before will have confidence and will start accepting bitcoin as a payment method.

Your government has not issued any ban or regulation on bitcoin but has directed banks in the country to ban bitcoin trading, that is no different from them publicly banning their people from using bitcoin indirectly. There is a topic being discussed about this and as far as I can see this is happening in many countries.

The government did not directly issue a ban, but banks have banned bitcoin transactions, it can be understood that they want to ban bitcoin but have not found an effective solution.

[TelolettOm]

In my country Indonesia, Bitcoin still illegal transaction for payment currency and have cases with some tourism and our citizen under arrest when adopting bitcoin for payment tender. But Bitcoin is allowed as commodity assets and available for trading or investing trough many local exchange support from government legalization.

Our government can't legalize Bitcoin for payment purposes because our laws only allows Rupiah as the payment tool in our country. So, everyone who tries to use Bitcoin for paying goods or services will be in a trouble. The authorities only carry out what is ordered by the laws. Whatever the reason, tourists and Indonesian citizen must support the government to implement the laws.

It is true that Bitcoin is legal for investment and trading purposes. We are free to keep it on our wallets and we can trade Bitcoin/altcoins in any exchanges in our country. As long the exchange is legal, it is safe to trade there.

In my country one step forward with cryptocurrency transaction, our government have adopted with taxes for all cryptocurrency transaction when trading in local exchange market. Not worry with my country because bitcoin have been supported by government although still can't adopt or using as currency payment transaction.

Yes, our government applies taxes for Bitcoin or altcoins transactions in our local exchanges. Sometimes I think the taxes become an obstacle for us. But on other hand, I can understand that the government agrees to support the legality of Bitcoin by applying taxes. It means the government also gets an advantage by supporting the existence of Bitcoin and altcoins in Indonesia. If the government can't get any advantage, they probably won't legalize or support Bitcoin/altcoins.

[HONDACD125]

~snip~

Our situation is made difficult because some people are trying to legalize crypto currency in the country but the government does not want to legalize crypto currency and the biggest obstacle is the banking sector.The second biggest reason is that government officials don't know anything about crypto currency, so they consider it a fraud and a scam, and when the price of bitcoin has fallen,So they say that people will lose by investing in it.

The biggest point of concern for us is that all of us who trade or invest are always afraid No one openly talks about crypto currencies because the government can take action at any time,and no one can invest openly,because if all exchanges are banned from operating in the country, we will have to sell our assets at a loss, so investing more is not without risk.Of course, crypto technology has improved due to which people who know about hard wallets have transferred their assets to hard wallets so that even if the government takes any action, our assets will be safe in hard wallets.

it's 2023, and we're still having conversations as if Bitcoin was some obscure dark-web currency. The failure here is not just the government's lack of understanding, but also the banking sector's stubbornness to adapt. We can't keep disregarding a technology that has global implications just because some officials have a skewed, uneducated perception of it.

Yes, Bitcoin has its volatility, but so do stock markets and commodities. No investment is without risk; hence, painting Bitcoin with a broad brush as a "fraud" is both unfair and uninformed. Governments and banking sectors worldwide have started to integrate cryptocurrencies; why should your country be left behind?

As for hard wallets, good move. But that's not a long-term solution. What we need is systemic change, not individual band-aids.

You are right that even in the present era there will be people or countries who have negative thoughts about Bitcoin. This is also due to the lack of understanding of our government and the main reason is our banking sector which misguides the government. After which the government takes decisions with the advice of the bank

If the government understood Bitcoin and knew about the features and great investments in Bitcoin, they would never have taken action on the banking sector's misdirection.Of course, we cannot ignore such a technology, about which there is a misconception or ignorance of certain rules,or an institution considers it a threat to itself and starts talking negatively about it.

In fact, the curopt people in our government never want our people to stand on their own feet, rather they believe that the people should always depend on them and never make their own decisions. Unfortunately, the powerful people sitting in our government do not want to see their people prosperous, because if the people are prosperous, they will try to raise their voice against the corrupt people sitting in the government, so they do not want the people to be a threat to them. currently we have no solution other than hard wallet. We also want to change the system, but it does not seem possible to change the system in the near future.

[uchegod-21]

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

What's the point of not banning bitcoin when bitcoin can't be used illegally in the country, crypto traders are target of the government through law enforcement officers, bank are been directed to closed down any account noticed to be interacting with cryptocurency through P2P transaction. The whole government is anti-bitcoin as frequently there are laws that just shows the government are clueless on what to do concerning bitcoin in the country. They would had just gone ahead to ban Bitcoin than confusing us because if you become a well known crypto investors or traders, you can become a target to law enforcement officers as they target you to extort money from you by tagging you a criminal and we know the justice system in the country isn't very effective.

The summary of everything is that implementation in my country is terrible. The government might give an order, for instance to seize all phones that wallet apps are found inside. If the law enforcement agents like police or the defunct SARS meets such a situation, they rather require a huge amount of money and let the person go. If the person refuses to give, they might shoot the person and allege that the person resisted.
It is because of inadequate implementation that makes the government most times reluctant to act in some matters.
In 2024, many countries will have some positive news about bitcoin. I am anticipating a massive adoption with likeliness that Bitcoin ETF approval and bull run will coincidentally happen.[/list]

[Alpha Marine]

Funny how they banned banks from dealing with crypto but not the crypto itself. Then they went ahead to tax traders. This is just to discourage crypto, like what India did. If you ask them what their reason for being against crypto them start with their usual excuses.

I do not think bitcoin legalized as a legal tender should be included because bitcoin has been made a legal tender in just two countries which are El Salvador which was the first country, and Central Africa Republic (CAR) which was the second country. Go to those countries and spend bitcoin, it is accepted everywhere.

I don't know about the Central African Republic but I read that in El Salvador many businesses do not accept Bitcoin. It is even written boldly in front of their shops that they don't accept Bitcoin. I don't know if it has improved now though. I'll have to hear from somebody on the ground to confirm.

[Kaliandra]

in my country the government does not prohibit people from using bitcoin, but the government in my country prohibits people from using bitcoin as a means of payment, and I think the government in my country has done wise things for its people and indeed if for example we buy and sell crypto on the exchange Of course there are always taxes that go to the government, but I agree with the actions taken by my government because with taxes from crypto that go to the country, of course the government will definitely use it for positive things.

So of course people who want to vacation in my country (Indonesia) must use the legal means of payment in my country, namely rupiah (Rp).

Yes, of course in every country there are always different rules and we as a society must be patient and must obey the state's rules.

[2Pizza410000BTC]

I am a citizen living in Bangladesh Bitcoin has been declared illegal by the government in my country. One of the reasons why bitcoin is illegal is that people in my country are not very educated and my country is less developed. If bitcoin is declared legal in this country then people will trade and invest in bitcoin unknowingly so that most of the people will end up in loss. Considering various aspects, maybe the government has declared bitcoin illegal in our country. But even though bitcoin is illegal in my country, many people are working here and earning a lot of money. Although there are some cases of administrative trouble due to illegality, it happens to very few people. We can easily earn money from here and support the family. Being illegal in my country we can easily convert to our local currency using p2p. Even if Bitcoin is outlawed for life in our country, I don't think it will bring any harm to us.

[FinePoine0]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

The government of my country Indonesia welcomes Bitcoin. But considerable efforts are underway to bring Bitcoin under specific regulations. But currently we are doing bitcoin transactions for free without any problem. The number of mass investors is increasing in our country, will increase further in the future as Bitcoin is gaining in popularity.

[Odohu]

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

• March 21, 2021: The CBN clarifies its position on the ban and states that individuals  are not prohibited from buying and trading crypto, just not through any Nigerian bank or fintech.

• So, in my country cryptocurrency is not banned but its transaction with banks is banned.

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country.

There is a little clarification on the issue of Bitcoin in Nigeria. First, Bitcoin was never banned legally; it was just Buhari handlers that were looking for who to blame for their inability to stabilize the FX market. They first blamed Aboki FX, a websites that gives the Naira/Dollar exchange rates in the parallel market, this lead to the shutting down of the website yet the Naira kept falling against the dollar. They went ahead to blame Binance p2p, asking government to ban Binance in Nigeria, as shown in this post.

So for clarify, those restrictions placed on accounts transacting in Bitcoin have been relaxed as captured in this post I made in our local board. Just that people are being careful dealing openly on Bitcoin following what have happened before in other to dodge any irrational and frustration-driven decision in the future.

[Nrcewker]

Thanks for sharing your experience. It's a testament to how volatile the regulatory environment can be. Let's hope for more transparent and crypto-friendly policies in the future, not just in Nigeria but worldwide. It's a wild crypto world out there!

The main reason for Nigerian government or other countries government not accepting Bitcoins is due to the decentralised nature of the coin. Due to this the government cannot control the coins neither can impose tax on it. Hence in many countries we see Bitcoins are banned or not regularised. We cannot do anything here. Just use P2P transactions to buy sell the coin, and enjoy the freedom of your finances.

[KiaKia]

Bitcoin can never be government friendly because its decentralised but thankfully with ETF approval this might not be the case anymore.

In my country many people are using Bitcoin as their gateway to financial freedom, they are not all long term holders, they just want to make money and change their lives, there was a ban but not anymore, still I like using P2P because of tomorrow.

I believe that the governments feels more in control when their people are not doing so well financially, and many someday when the government really noticed that Bitcoin is changing the life of many people in the country they might decide to come up with a plan, and I don't want to be caught in the this, peer to peer seem fine with me.

[Altryist]

In my country from the beginning there is no big support for cryptocurrency from the government. It didn't make any information or announcement regarding the acceptance of bitcoin or legalizing the usage of bitcoin. Over time this had changed as the government found the increased interest for cryptocurrency among the common people. At some point government took cryptocurrency acceptance into discussion and taxed 30% on revenue and 1% tds. Even after that there is no official announcement on the legal status of cryptocurrency within the country.

With such high taxes, it is not surprising that everything will remain unchanged. I get the impression that governments think that if a person has cryptocurrency, he is so wealthy that he doesn’t care what taxes he pays. But in fact, 30% is a very large tax, and it is clear that this will help ensure that everything remains as it was before, why would anyone give a third of their funds just to legally use cryptocurrency.

[Essential10]

I am a citizen living in Bangladesh Bitcoin has been declared illegal by the government in my country. One of the reasons why bitcoin is illegal is that people in my country are not very educated and my country is less developed. If bitcoin is declared legal in this country then people will trade and invest in bitcoin unknowingly so that most of the people will end up in loss. Considering various aspects, maybe the government has declared bitcoin illegal in our country. But even though bitcoin is illegal in my country, many people are working here and earning a lot of money. Although there are some cases of administrative trouble due to illegality, it happens to very few people. We can easily earn money from here and support the family. Being illegal in my country we can easily convert to our local currency using p2p. Even if Bitcoin is outlawed for life in our country, I don't think it will bring any harm to us.

I am also a citizen of Bangladesh like you. Market risk is high due to volatile market of Bitcoin, market price fluctuations. Investing has more or less risk, there is a complex process inside crypto currency that a common investor in my country can easily lose all his money without understanding easily. You are right that our country is still questioning the legality of crypto currency or Bitcoin only because the people of the country are not educated. As far as I know there is very little bitcoin exchange in my country. But according to the laws of my country, buying and selling bitcoins is illegal. The government does not know any exact information about how many bitcoin transactions are involved in our country. Although government campaigns are constantly being conducted to discourage cryptocurrency trading. But I don't think people working with crypto currency or Bitcoin in my country will face any problem in future.

[Assface16678]

Thanks for sharing your experience. It's a testament to how volatile the regulatory environment can be. Let's hope for more transparent and crypto-friendly policies in the future, not just in Nigeria but worldwide. It's a wild crypto world out there!

The main reason for Nigerian government or other countries government not accepting Bitcoins is due to the decentralised nature of the coin. Due to this the government cannot control the coins neither can impose tax on it. Hence in many countries we see Bitcoins are banned or not regularised. We cannot do anything here. Just use P2P transactions to buy sell the coin, and enjoy the freedom of your finances.

True, government are very hesitant with bitcoin or crypto currency, well sad reality not just because bitcoin is decentralised and cannot be controlled by anyone or manipulate, bitcoin or cryptocurrency also are being used for crimes, taking advantage of the features and advancement of bitcoin an its technology blockchain, there are a series of incidents wherein government sites are being hacked or being a victim of ransomware where they will ask for money exchange for the freedom  of the site containing the information and confidential informations of the people, so to not them being tracked or chase they asking the money in form of bitcoin, as its untraceable and no one could know who is the owner of that address. Also money laundering bitcoin or crypto are being used in that crimes, that's why it also understandable why government are scared and cannot accept cryptocurrency easily.

[Smartvirus]

Bitcoin can never be government friendly because its decentralised but thankfully with ETF approval this might not be the case anymore.

In my country many people are using Bitcoin as their gateway to financial freedom, they are not all long term holders, they just want to make money and change their lives, there was a ban but not anymore, still I like using P2P because of tomorrow.

Never say never!
It’s hard to be in full acceptance of what you don’t fully understand or can’t fully utilize for your own benefit, neither is it easy to be arms open to an innovation that goes against what you stand for (Centralization as against Decentralization). It’s also hard to accept what started mainly as a revolution against the government; at least, that’s how most of the government of our world see it.

But, if they could see through the eyes of the government of El-Salvador, then you just might be able to see a little light at the end of the tunnel.

From your comment,
It was banned, now it’s not banned anymore. What does that tell you? It’s a step forward to acceptance I would say.

[kotajikikox]

There is a good treatment of our government towards bitcoin but unfortunately not in exchange in which will surely affect the growth and the movement of Bitcoin in my country .

the recent is the suing of Binance exchange and now it will be banned in the next 80 days following other exchange that has not following the requirement of our government and i believe this is just a domino effect of how the US SEC sue the Binance and yes it is now  here.

but all in all? bitcoin is safe to use here and been supported by government though isn't adopted yet.

[serjent05]

There is a good treatment of our government towards bitcoin but unfortunately not in exchange in which will surely affect the growth and the movement of Bitcoin in my country .

the recent is the suing of Binance exchange and now it will be banned in the next 80 days following other exchange that has not following the requirement of our government and i believe this is just a domino effect of how the US SEC sue the Binance and yes it is now  here.

but all in all? bitcoin is safe to use here and been supported by government though isn't adopted yet.

Isn't Bitcoin is already adopted in the Philippines?  The government already labeled Bitcoin as mode of payment and that I think is enough to consider that the Philippine government had accepted Bitcoin.  The thing with exchanges like Binance is way different.  Since the government thinks that Binance is operating without the license in the country to cater its citizen.  It maybe have a huge impact on the Binance users but there is still lots of services in the Philippines where we can exchange Bitcoin.

[bayu7adi]

In my country from the beginning there is no big support for cryptocurrency from the government. It didn't make any information or announcement regarding the acceptance of bitcoin or legalizing the usage of bitcoin. Over time this had changed as the government found the increased interest for cryptocurrency among the common people. At some point government took cryptocurrency acceptance into discussion and taxed 30% on revenue and 1% tds. Even after that there is no official announcement on the legal status of cryptocurrency within the country.

If the government starts taxing people who own crypto assets, then at that point, crypto shouldn't be illegal in the country anymore.
Regarding the rules, the government should have already made an official announcement about how they're going to handle crypto stuff.
The citizens have paid their taxes, and if there's still confusion about crypto in the country, the government is clearly pressuring crypto users in that nation.

[dansus021]

I'm from Indonesia and @bayu7adi seems said it all already. 

and yeah I would say Indonesia is crypto-friendly you can store it and trade it freely the only thing you can't do is use the crypto as a form of payment. as long as you trade it using a centralized exchange that has license to operate in here which is a bunch of it you pretty much safe.

[Ale88]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

I'm Italian, and in Italy, from what is my understanding, they don't care too much about bitcoin expect the fact that of course they want you to pay taxes from capital gains Until a few years ago several politicians warned people about the risks involved with bitcoin (same old BS), now it's difficult to go against bitcoin so they are just trying to make a profit out of it. But there has never been an intention to ban it or something like that.

[mamesso]

Each country has its own views in responding to Bitcoin which is increasingly popular in various countries. For example, El Salvador legalized Bitcoin as a means of payment, while in several other countries, Bitcoin was only legalized as an investment asset, not as a means of payment.

The government in my country has legalized Bitcoin as a commodity that can be traded, not as a means of payment. Bitcoin trading in my country is also protected by regulations issued by the government regarding the technical provisions for organizing a physical market for crypto assets. Even though it has not been legalized as legal tender, the government in my country is very friendly towards Bitcoin and other crypto assets, our aspirations feel represented because the government is still facilitating space for us to trade Bitcoin safely and comfortably.

[Trawda]

A good idea, of course, but the problem is that some members prefer to maintain their privacy and not to declare their country, so I do not know whether this will succeed or not.

[EFS]

A good idea, of course, but the problem is that some members prefer to maintain their privacy and not to declare their country, so I do not know whether this will succeed or not.

You are not giving away your location by saying Bitcoin's situation in your country. It's not like you're writing down your street address. No need to be so paranoid. By checking at your post history you're probably an Arab. You could be anywhere in the world. When you talk about your country, you could be living abroad. If you are so paranoid, it might be better for you not to write on this forum and even the entire internet at all.

[pinggoki]

A good idea, of course, but the problem is that some members prefer to maintain their privacy and not to declare their country, so I do not know whether this will succeed or not.

Not that big of a problem because there are local boards that can easily identify what country you're from plus it's a good thing that users from different countries are interacting from in boards that are English-only. Given that it's already 7 pages long already and most of the replies comes from members of the forum that have been active here for a really long time, I say that it's a success, not sure what's your measure for success, I sure consider this as a success. In my country, there's not a lot of stuff that's happening besides the SEC setting a deadline for the availability of Binance which is the widely used CEX in the country and so a lot of people that are using them are probably migrating their bitcoins and tokens somewhere already to prepare for the ban just in case.

[HelliumZ]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

[taufik123]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

Unfortunately enough, when Bangladesh completely bans Bitcoin, even anyone caught using it will be arrested and jailed for about 12 years.
There are even many young people who use Bitcoin secretly, and you are here as one of those young people.

In the modern era like now, usually the name of new technology will be widely supported, especially in Payment Technology owned by Bitcoin.

You don't have to be too specific to accept it, just provide clear usage regulations or regulations and that's enough.
But if it is banned completely under the pretext that Bitcoin brings a lot of problems such as criminal transactions and money laundering, surely such a country is not ready for the future of payments, and they just want to regulate everything themselves.

Some other countries that also do not believe in the Bitcoin system and ban it are China and Qatar.

About China banning may be common, but Qatar started banning Bitcoin since December 27, 2020,
Qatar Financial Centre (QFC) stated that all cryptocurrency services are banned in Qatar.

The goal is to attract business and encourage financial growth in the country.
The QFC ban is also designed to prevent the use of cryptocurrencies to finance terrorism and money laundering.

[cryptoWODL]

Unfortunately enough, when Bangladesh completely bans Bitcoin, even anyone caught using it will be arrested and jailed for about 12 years.
There are even many young people who use Bitcoin secretly, and you are here as one of those young people.

Bitcoin in Bangladesh is not legal but Bitcoin transactions are going on secretly in this country.
Almost every year I see that some people have been arrested for Bitcoin transactions published in different newspapers of Bangladesh. I saw an ad in 2017 that Bangladesh Bank issued a notice warning about transactions in Bitcoin. There is no recognition of any monetary claim against the legitimate authority of a country not issuing virtual currency, the published notification said. Bangladesh Bank also warned that various terrorist activities and money laundering.The Bangladesh government has not yet thought about legalizing Bitcoin. The government thinks that if Bitcoin is legalized, the amount of money laundering in this country will increase even more.

[bhadz]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

That's what I've heard from some posts as well that you guys are dealing with hardship there due to the ban that the Bangladeshi government is enforcing. This means that you guys in paper are doing something illegal against the law but I just hope that your government will reconsider their laws about Bitcoin and the outlook that they have because it's not the only thing that they should look up to if it's about money laundering. Fortunately, in my country Philippines, Bitcoin is illegal but many are just disappointed that our SEC is also targeting Binance due to them being unlicensed for their operations here.

[Litzki1990]

Bitcoin is spread all over the world but there are many countries where Bitcoin is banned but still people of those countries use Bitcoin in different ways. If we talk about Nigeria, the first thing that comes to our mind is that Nigeria is famous for being poor. Nigeria's financial situation is not good at all but there are many people in Nigeria who have been able to change their fortunes through Bitcoin and who are playing a great role in economic development but still the Nigerian government is taking steps against Bitcoin. The Nigerian government may take action against Bitcoin if it can alleviate poverty in its country. I think the Nigerian government should support Bitcoin if ordinary people can change their financial status from being involved with Bitcoin.

[taufik123]

-snip-
Bangladesh Bank also warned that various terrorist activities and money laundering.The Bangladesh government has not yet thought about legalizing Bitcoin. The government thinks that if Bitcoin is legalized, the amount of money laundering in this country will increase even more.

When it comes to terrorist activities and money laundering, every country certainly has these problems and needs to be solved by implementing KYC in every sector.
But that is not a reason to keep banning Bitcoin, Bangladesh should do research on how to prevent money laundering for terrorist activities without the need to ban Bitcoin completely.

In Indonesia, where I live, Bitcoin regulation is only limited to commodity instruments and cannot be used for legitimate payments in place of traditional currencies.
That way there is no complete ban on the use of Bitcoin and other crypto assets, everything is well regulated and under direct government supervision.

As the Bangladeshi government fears a surge in money laundering and other criminal activity,
it is necessary to look at Asian countries that have already accepted Bitcoin and set their own regulations.

[DYING_S0UL]

-snip-
Bangladesh Bank also warned that various terrorist activities and money laundering.The Bangladesh government has not yet thought about legalizing Bitcoin. The government thinks that if Bitcoin is legalized, the amount of money laundering in this country will increase even more.

When it comes to terrorist activities and money laundering, every country certainly has these problems and needs to be solved by implementing KYC in every sector.
But that is not a reason to keep banning Bitcoin, Bangladesh should do research on how to prevent money laundering for terrorist activities without the need to ban Bitcoin completely.

In Indonesia, where I live, Bitcoin regulation is only limited to commodity instruments and cannot be used for legitimate payments in place of traditional currencies.
That way there is no complete ban on the use of Bitcoin and other crypto assets, everything is well regulated and under direct government supervision.

As the Bangladeshi government fears a surge in money laundering and other criminal activity,
it is necessary to look at Asian countries that have already accepted Bitcoin and set their own regulations.

That's one of the ridiculous reasons the government (Bangladesh) is giving us. While all the other Asian countries are slowly adapting and accepting the use of Bitcoin, as of overall crypto, we can't even get rid of this stupid ban. There are a lot of crypto users in my country, by a lot, I mean a lot. But we are unable to use crypto as we want. There isn't any freedom. So all of us are using it in secrecy. Everyone fears that law enforcement might arrest them. We can't speak of it openly. And as for money laundering, tax evasion, or other criminal offenses, it's everywhere. It doesn't matter if crypto is banned or not. Bangladesh is known as one of the most corrupt countries in the world. It's already corrupted to the higher level. I don't think having crypto will make it go more higher.

[taufik123]

That's one of the ridiculous reasons the government (Bangladesh) is giving us. While all the other Asian countries are slowly adapting and accepting the use of Bitcoin, as of overall crypto, we can't even get rid of this stupid ban.

The Bangladesh government is too skeptical, LOL. Just like people who are too afraid of losing control and afraid of the problems that will occur.
Even though it's just their negative thoughts, When a country cannot adapt to new technologies that can provide benefits, then the country will never progress.

Like China, it did ban Crypto completely, but they are trying to create their own Blockchain more precisely they cannot rely on outside projects.
Like not using Google and making Baidu as a search engine of its own making.

If Bangladesh is able to make all that independently, it deserves to reject Bitcoin entirely, but if it only relies on other brands, that's stubbornness.

There are a lot of crypto users in my country, by a lot, I mean a lot. But we are unable to use crypto as we want. There isn't any freedom. So all of us are using it in secrecy. Everyone fears that law enforcement might arrest them. We can't speak of it openly. And as for money laundering, tax evasion, or other criminal offenses, it's everywhere. It doesn't matter if crypto is banned or not. Bangladesh is known as one of the most corrupt countries in the world. It's already corrupted to the higher level. I don't think having crypto will make it go more higher.

Banning it will only create a strong desire to violate it.
When many people use Bitcoin or interact with crypto clandestinely, this indicates that there is no more trust in the government.
Banning is just a dead end, it doesn't give any results.

Especially when the level of corruption gets stronger, this is tantamount to closing a hole that is not necessarily dangerous,
but a steep hole that is definitely dangerous is not closed at all.

[Awaklara]

Banning it will only create a strong desire to violate it.
When many people use Bitcoin or interact with crypto clandestinely, this indicates that there is no more trust in the government.
Banning is just a dead end, it doesn't give any results.

Especially when the level of corruption gets stronger, this is tantamount to closing a hole that is not necessarily dangerous,
but a steep hole that is definitely dangerous is not closed at all.

because the ban carried out by the government was not accompanied by a solution from the government. That's what makes Bitcoin users in a country that suppresses Bitcoin users with regulations secretly oppose it.

for example, when the state bans certain social media platforms. which resulted in regulations prohibiting the use of certain media platforms in the country. so the government must create and facilitate social media platforms developed by the government itself. so it will increase public trust in the government's choices.

I always believe, when Bitcoin is used by someone for negative behavior. the fault is not with Bitcoin, but with the people who use it. don't limit Bitcoin, it won't solve the problem. but deal with the person to be more righteous. and everything will go well.

[Ale88]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

Unfortunately enough, when Bangladesh completely bans Bitcoin, even anyone caught using it will be arrested and jailed for about 12 years.
There are even many young people who use Bitcoin secretly, and you are here as one of those young people.

In the modern era like now, usually the name of new technology will be widely supported, especially in Payment Technology owned by Bitcoin.

You don't have to be too specific to accept it, just provide clear usage regulations or regulations and that's enough.
But if it is banned completely under the pretext that Bitcoin brings a lot of problems such as criminal transactions and money laundering, surely such a country is not ready for the future of payments, and they just want to regulate everything themselves.

Some other countries that also do not believe in the Bitcoin system and ban it are China and Qatar.

About China banning may be common, but Qatar started banning Bitcoin since December 27, 2020,
Qatar Financial Centre (QFC) stated that all cryptocurrency services are banned in Qatar.

The goal is to attract business and encourage financial growth in the country.
The QFC ban is also designed to prevent the use of cryptocurrencies to finance terrorism and money laundering.

I really don't understand how they could imprison someone for 12 years for using bitcoin, it doesn't make any sense: oftentimes you don't get 12 years of prison even after killing someone, it's just ridiculous. Also because, as pointed out, many young people use bitcoin, so if someone sends or receive even a single transaction will have to spend 12 years in a prison?

[FinePoine0]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

Unfortunately enough, when Bangladesh completely bans Bitcoin, even anyone caught using it will be arrested and jailed for about 12 years.
There are even many young people who use Bitcoin secretly, and you are here as one of those young people.

In the modern era like now, usually the name of new technology will be widely supported, especially in Payment Technology owned by Bitcoin.

You don't have to be too specific to accept it, just provide clear usage regulations or regulations and that's enough.
But if it is banned completely under the pretext that Bitcoin brings a lot of problems such as criminal transactions and money laundering, surely such a country is not ready for the future of payments, and they just want to regulate everything themselves.

Some other countries that also do not believe in the Bitcoin system and ban it are China and Qatar.

About China banning may be common, but Qatar started banning Bitcoin since December 27, 2020,
Qatar Financial Centre (QFC) stated that all cryptocurrency services are banned in Qatar.

The goal is to attract business and encourage financial growth in the country.
The QFC ban is also designed to prevent the use of cryptocurrencies to finance terrorism and money laundering.

I really don't understand how they could imprison someone for 12 years for using bitcoin, it doesn't make any sense: oftentimes you don't get 12 years of prison even after killing someone, it's just ridiculous. Also because, as pointed out, many young people use bitcoin, so if someone sends or receive even a single transaction will have to spend 12 years in a prison?

The laws and regulations of every country are not the same, and some countries' governments definitely put extra pressure on the people.  It's not normal that a bitcoin transaction ever resulted in 12 years in jail, it must have been cruel to the young man. Governments in countries where Bitcoin is illegal do not favor Bitcoin, which means that people who have been secretly using Bitcoin will be punished unnecessarily if it is revealed. But I think the young man was definitely wronged.

[cozytrade]

The government of our country is not in favor of this currency. Bitcoin has been declared illegal by the government and through legal notices warning the people of our country not to use Bitcoin and not to cooperate with Bitcoin in any way. But an ICT state minister of our country has made some reviews about the benefits of using Bitcoin to attract the attention of the government. And suggested research on Bitcoin so that our country does not fall behind in this digital era. So that the government can get a proper understanding of Bitcoin and reconsider the Bitcoin legality issue.

As far as I know this currency has been legalized by the government of many countries. Again, the government of many countries has declared it illegal. I think those who declared it illegal, without understanding about Bitcoin, are adamant in such a decision. However, even though Bitcoin has been declared illegal in our country, people are not lagging behind in using Bitcoin. Many people are secretly using Bitcoin even though it is not being used publicly in our country. With the way people are currently getting interested in using Bitcoin, I am optimistic that Bitcoin will become legal in all countries in the future.

[RockBell]

The government of our country is not in favor of this currency. Bitcoin has been declared illegal by the government and through legal notices warning the people of our country not to use Bitcoin and not to cooperate with Bitcoin in any way. But an ICT state minister of our country has made some reviews about the benefits of using Bitcoin to attract the attention of the government. And suggested research on Bitcoin so that our country does not fall behind in this digital era. So that the government can get a proper understanding of Bitcoin and reconsider the Bitcoin legality issue.

As far as I know this currency has been legalized by the government of many countries. Again, the government of many countries has declared it illegal. I think those who declared it illegal, without understanding about Bitcoin, are adamant in such a decision. However, even though Bitcoin has been declared illegal in our country, people are not lagging behind in using Bitcoin. Many people are secretly using Bitcoin even though it is not being used publicly in our country. With the way people are currently getting interested in using Bitcoin, I am optimistic that Bitcoin will become legal in all countries in the future.

One interesting thing was that people in Nigeria have a lot of interest in Bitcoin, and even though it is illegal, people continue to invest and other Bitcoin-related activities, even though the government has blocked accounts related to Bitcoin, people did not stop, and that is when people turned to using p2p, but eventually the government just made it legal some days ago, happy but not happy because we love it the way we have been operating it.

They know the benefits of fighting the system and looking for any way to centralize it, and the warning of not using Bitcoin must be serious, unlike my country, it was illegal but we were still free kind of, and your minister of information might even have some bitcoin share who knows since is busy telling people about its benefits. Governments do not need to research because they know the truth and know what is right. El Salvador took a good step, and countries that made it illegal will later have no choice because people will still use Bitcoin with or without it, so it is even better to make it legal because I don't see any difference.

[Gaza13]

In my own country, since the emergence of the first exchange that regulates the buying and selling of Bitcoin itself, my country does not completely ban these digital assets, but only allows it as a commodity like shares which is supervised by local regulators. And it is not allowed or prohibited at all for payment in my country, only legal currency for payment of daily transactions.

Seeing the extraordinary growth and potential of this asset, the State quickly took taxes from each transaction and had a quite extraordinary income impact for my country. And mining has also been approved by high-ranking regional officials and they are optimistic that one day it will become the largest mining company in Asia.

[majeed]

The government of our country is not in favor of this currency. Bitcoin has been declared illegal by the government and through legal notices warning the people of our country not to use Bitcoin and not to cooperate with Bitcoin in any way. But an ICT state minister of our country has made some reviews about the benefits of using Bitcoin to attract the attention of the government. And suggested research on Bitcoin so that our country does not fall behind in this digital era. So that the government can get a proper understanding of Bitcoin and reconsider the Bitcoin legality issue.

As far as I know this currency has been legalized by the government of many countries. Again, the government of many countries has declared it illegal. I think those who declared it illegal, without understanding about Bitcoin, are adamant in such a decision. However, even though Bitcoin has been declared illegal in our country, people are not lagging behind in using Bitcoin. Many people are secretly using Bitcoin even though it is not being used publicly in our country. With the way people are currently getting interested in using Bitcoin, I am optimistic that Bitcoin will become legal in all countries in the future.

One interesting thing was that people in Nigeria have a lot of interest in Bitcoin, and even though it is illegal, people continue to invest and other Bitcoin-related activities, even though the government has blocked accounts related to Bitcoin, people did not stop, and that is when people turned to using p2p, but eventually the government just made it legal some days ago, happy but not happy because we love it the way we have been operating it.

They know the benefits of fighting the system and looking for any way to centralize it, and the warning of not using Bitcoin must be serious, unlike my country, it was illegal but we were still free kind of, and your minister of information might even have some bitcoin share who knows since is busy telling people about its benefits. Governments do not need to research because they know the truth and know what is right. El Salvador took a good step, and countries that made it illegal will later have no choice because people will still use Bitcoin with or without it, so it is even better to make it legal because I don't see any difference.

Nigeria's Bitcoin adoption shows people's strength, right? Innovation, like water, flows despite government restrictions. Thanks for the creative workaround, P2P! The problem is, the game isn't going to change just because Bitcoin is legal. Simply accepting the inevitable. Bitcoin, like gravity, is changing our economy.

Don't get ahead of ourselves. Goverments aren't stupid. They see it coming. El Salvador's move? It's bold and savvy economics. Bitcoin investing is about seeing the future, not just defying the system. Friends, the future is digital, decentralised, and a bit defiant. Bitcoin is an expression that we're ready for a new economy, not just an investment.

The Nigerian government reversing Bitcoin? It's more than money legalisation. Recognising a worldwide economic paradigm shift. Bitcoin changes how we think about money, not simply currency. With or without government support, the people are leading this movement. Bitcon will stay. Accept it, comprehend it, and most importantly, participate. The future is coming, and Bitcoin is important.

[Promocodeudo]

In my country, Nigeria Bitcoin transactions through banks were banned but it was never a problem or threat to Bitcoiners because most of them continued to use p2p, there is good news that it has been unbanned by the government through the central bank but the introduced a kyc authentication rule which was not their before, though it was not seen as a problem, this innovation has help most Nigerian youths to be financially okay today because of their involvement in it, the only way most country will halt Bitcoin activity is to stop wallet and several means in which Bitcoin can be transacted but I know it will not be possible because the technology that's built around Bitcoin is very strong to protect it from such attack.

[harapan]

Bitcoin In my country is considered a scam/fraud services.I wonder why they still think and underestimate the digital currency.it is true that Only two countries in the world that believe Bitcoin to be a genuine legal tender. The first is El Salvador. The second is the Central African Republic. It adopted Bitcoin as a legal tender in the second quarter of 2022.The president, Nayib Bukele, announced that this decision was made to uplift people financially all over the country by making financial services more accessible to the public.

Even with all these achievement and successful remarks made about bitcoin,its adoption in my country seems to be slacking.Despite the mass adoption in my country,I believe that bitcoin lives in my country,there are many people who have legalized using bitcoin all by themselves.Bitcoin users and crypto enthusiast are existing.

[Reatim]

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

Good initiative but I think Updating the OP about what is special stand in each countries mentioned here on the thread so this may bring  better understanding to many who are planning to travel  around the world.

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

it is sad knowing this , meaning we are still lucky that even though there is a complete acceptance of Bitcoin and  but we are super lucky that we are  allowed in any forms to use cryptocurrency and even allows to Keep any cryptos in out  pocket.

Hope that one day Nigeria will be given a legal way of having Bitcoin in your possession .

[lizarder]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country. 

More or less, the treatment of bitcoin in the country where I live is almost the same as in your country because currently we can only use bitcoin as an investment asset and its use as a legal means of payment is prohibited. Likewise regarding taxes because the numbers are not much different from your country, but for me this is not confusing because being given the right as an investment asset is enough. Because we know that bitcoin can be an alternative to protect the money we have compared to placing it in a bank or elsewhere.

But still we use banks when converting bitcoins into fiat and that's where taxes start to apply and are deducted automatically. To expect bitcoin as legal tender especially in my country is impossible and perhaps the current treatment of bitcoin is enough for those of us involved in it.

[cryptoWODL]

I live in a country where Bitcoin is not legalized yet. The government of our country has not taken any steps to legalize Bitcoin so far. I wonder why Bitcoin is not legal in our country where Bitcoin is legal in developed countries of the world. There are many crypto users in our country but they have no freedom. Bitcoin is freely exchanged in almost many of our Asian countries, like our neighboring country India.

The government of our country thinks that legalizing Bitcoin in our country may increase the possibility of money laundering to a great extent for which they have not taken any action yet. But the politicians of our country they launder money in many ways abroad maybe this can be a reason not to legalize Bitcoin.

Every citizen of our country, including me, who is involved with cryptocurrency and exchanges various cryptocurrency coins, dreams that one day Bitcoin will be legal in our country.

[camilocollin6]

As of May 28, 2023, the Nigerian government don sign di finance act 2023 into law, and e carry 10% tax on gains from digital assets. Despite this, the government still dey ban cryptocurrency transactions for the country. This na di situation for where I dey live, and e dey cause confusion between the government and the people about Bitcoin and other crypto currencies. Abeg, if you get more information or data about investments for Nigeria, Nigeria gained investment in Bitcoin. How long this system go continue, nobody sabi because dem never give certificate wey talk say Bitcoin or crypto currency dey legal for Nigeria.

[leonair]

There are two to three reasons why Bitcoin is not valid in my country, but I think it should be adopted by our country.Some of the policymakers of our country are not accepting it, but many policymakers want to accept it again but cannot give them to grow.I am a Bangladeshi citizen I wanted to be allowed to use this coin in my country also not authorized directly but indirectly many organizations are using it in a third party but for us, it is Many obstacles.If bitcoin system launched in my country it is possible to make friendship with many countries like Russia using cryptocurrency under their ban, so they have survived many economic disasters has But if there is a lot of discussion about it, it might be allowed.This currency is completely banned in Bangladesh but can be transacted through some wallets like Bikash Wallet.
****There are no Bitcoin ATMs in Bangladesh, but they are added or supported by Binance.

Not only Bangladesh but several other countries Bitcoin is not considered as a legal currency till now.  Bitcoin's creator is so far anonymous that governments of various countries are afraid to consider Bitcoin as a legal currency and because of this Bitcoin has been declared illegal in many countries so far. They think that Bitcoin cannot be any real money.  But the way Bitcoin is increasing its popularity day by day, Bitcoin can be legalized in all countries in the future. Because even if its creator is untraceable, since it is fully decentralized, we all have control over it as long as we buy or mine bitcoins.

[Xxmodded]

Not only Bangladesh but several other countries Bitcoin is not considered as a legal currency till now.  Bitcoin's creator is so far anonymous that governments of various countries are afraid to consider Bitcoin as a legal currency and because of this Bitcoin has been declared illegal in many countries so far. They think that Bitcoin cannot be any real money.  But the way Bitcoin is increasing its popularity day by day, Bitcoin can be legalized in all countries in the future. Because even if its creator is untraceable, since it is fully decentralized, we all have control over it as long as we buy or mine bitcoins.

All countries around the world seems not legal bitcoin as payment currency transaction except El Savador and any small African countries make legal payment for bitcoin. The same in my country Bitcoin still illegal transaction currency but have legal for commodity assets as investment or trading assets. But have good respond with our government have cut off taxes for all bitcoin and cryptocurrency transaction trough local exchange market, I think any potential in the future bitcoin will adopt as payment legal currency transaction and change fiat payment to cryptocurrency payment.
Bitcoin have advantage when adopting as legal currency transaction, easily make payment with huge amount and transaction around the world not required waiting more longer time than fiat.

[itorai]

I live in a country where Bitcoin is not legalized yet. The government of our country has not taken any steps to legalize Bitcoin so far. I wonder why Bitcoin is not legal in our country where Bitcoin is legal in developed countries of the world. There are many crypto users in our country but they have no freedom. Bitcoin is freely exchanged in almost many of our Asian countries, like our neighboring country India.

The government of our country thinks that legalizing Bitcoin in our country may increase the possibility of money laundering to a great extent for which they have not taken any action yet. But the politicians of our country they launder money in many ways abroad maybe this can be a reason not to legalize Bitcoin.

Every citizen of our country, including me, who is involved with cryptocurrency and exchanges various cryptocurrency coins, dreams that one day Bitcoin will be legal in our country.

I think even so money laundering can still occur because the use of bitcoin in various countries that are still not legalized as you said can still access it. And I think this may be money laundering, even though the country's government argues that legalizing Bitcoin in its country can increase the possibility of money laundering. So in essence, even though bitcoin has not been legalized, it does not rule out the possibility of money laundering, it's just that by not legalizing bitcoin in the country at least the laundering is not that big.

[tbterryboy]

Bitcoin In my country is considered a scam/fraud services.I wonder why they still think and underestimate the digital currency.it is true that Only two countries in the world that believe Bitcoin to be a genuine legal tender. The first is El Salvador. The second is the Central African Republic. It adopted Bitcoin as a legal tender in the second quarter of 2022.The president, Nayib Bukele, announced that this decision was made to uplift people financially all over the country by making financial services more accessible to the public.

Even with all these achievement and successful remarks made about bitcoin,its adoption in my country seems to be slacking.Despite the mass adoption in my country,I believe that bitcoin lives in my country,there are many people who have legalized using bitcoin all by themselves.Bitcoin users and crypto enthusiast are existing.

Aw, that was sad to hear man, but there are really people like that who are not open-minded. They also said that only because they can't fully control Bitcoin. I think there are 3 countries who made BTC a legal tender. Let's just hope that in your country Bitcoin will soon be legal.

I think there is a chance for this, if we take a look on other countries who have been on the same situation. There is no way that mass adoption existed in your country yet. What more is that BTC didn't live there or in any other country because it is not a human being lol. Although maybe we can say that BTC lives in our heart because this is how special it is for us.

[NicNacCoin]

This thread is created to enable bitcoiners in this forum to narrate the status of bitcoin in their country. This will include whether bitcoin is legalised, outlawed or a legal tender in your country. You have the liberty to mention your country or not. Other details may include if bitcoin is mined in your country and the overall friendliness of the government to cryptocurrency in your country.

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

Bitcoin is not officially recognized in my country. Although Bitcoin is not officially legal in my country, people in my country can use Bitcoin very easily. I am talking about Bangladesh here. One of the important reasons why bitcoin is not legal in this country is that most people in my country do not know about cryptocurrency. People of this country are not very educated, if cryptocurrency is legal in this country people will invest without understanding, as a result people will suffer more. It is best not to invest in cryptocurrencies.

[AprilioMP]

I'm Indonesian.

Bitcoin and all types of crypto in my country cannot be used as a means of payment such as in other countries that allow butcoin and all types of crypto as a type of payment.
Bitcoin and all types of crypto in my country may only be used as commodity assets that can be traded but not as a means of payment.

Every traveler who visits Indonesia needs to know this because it should not be surprised if it does not bring Fiat's currency because he thinks he can pay with bitcoin and all other types of crypto. If it is done when going to be threatened to Indonesia as if a threat to Bali, you will get sanctions according to the provisions in force in our country.

Not prohibited, but cannot be used as a payment tool.
Because there are already users from Indonesia who earlier said how bitcoin in Indonesia, this may be used as a reminder again.
Please visit Indonesia which is full of natural beauty.