Bitcoin in your country.

[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.