Is Bitcoin legal?

[Blaze]

The legal status of cryptocurrencies varies around the world and may change over time. In general, many countries recognize the legality of the use and exchange of cryptocurrencies, but approaches and regulations can differ greatly.

Several countries recognize and legalize the use and trading of cryptocurrencies, provide a legal framework for exchange, and allow payments with digital currencies.

Cryptocurrency transactions are a payment alternative for everyone who wants to use cryptocurrency and transactions can be carried out quickly, especially when compared to traditional payment methods that involve intermediaries such as banks.

[RockBell]

Yes I Think Bitcoin Is Legal Because Recently Many Countries Decleared It As A Legal Currenchy. Gradually We Are Going Digitalization Ear. Where We Will Enjoy Up To Date Lifestyle, So Economical Revolation Will need, I Think Then Bitcoins Nessasity Will Big For Us. And Bitcoin Is More Secured Abd Easy To Transfer. So I Think It Will Legal All Over The World Within Few Years.

Some countries have decided to make it a legal tender and countries like el Salvador and the government personally investing in bitcoin is a gate way because if their should be an increase in price then the government will will be making tons of money from it. And it is another way of doing awareness for bitcoin because when they adopted it.  The news was everywhere and gained more interest in investing in bitcoin. And its a sign that the world is going digital. And if other countries can also follow the same foot step. And Bitcoin having more interesting features than the banking system makes it more fun to deal with.

[Dr.Bitcoin_Strange]

Many countries legalize bitcoin as a digital asset traded on exchanges, but only a few countries legalize bitcoin as a legal means of payment

As a matter of fact, I think that El Salvador is the country that has made Bitcoin a legal tender where  which anyone can accept it in exchange or goods and other services.

Like you have said @hair, Bitcoin is not ban in most countries, like in my country anybody is free to accept Bitcoin for payment, provided that their clients or customers are willing to pay them in Bitcoin. In my furniture business, I do accept Bitcoin payment and not every of my customers that are paying in Bitcoin or crypto but those that are into Bitcoin usually pay me in Bitcoin.

[gunhell16]

That depends on the interpretation of each individual here on this forum platform. In short, it also depends on whether a country recognizes blockchain technology and can allow it to be used in their country by users or investors who will believe in it.

But if a country is not open to this blockchain technology, for sure, Bitcoin is illegal for them, and they can even sell it in their territory, which is the country's jurisdiction. But now it is gradually being recognized by other countries in this era.

[I-Bit]

As a matter of fact, I think that El Salvador is the country that has made Bitcoin a legal tender where  which anyone can accept it in exchange or goods and other services.

Indeed. Bitcoin is a legal tender in El Salvador, everyone can use Bitcoin for a payment purpose there. However, it is in El Salvador only, other countries probably have different regulations. We only expect that there will be more countries to follow El Salvador. So Bitcoin will be spreading as legal currency around the world.

-snip- in my country anybody is free to accept Bitcoin for payment, provided that their clients or customers are willing to pay them in Bitcoin. In my furniture business, I do accept Bitcoin payment and not every of my customers that are paying in Bitcoin or crypto but those that are into Bitcoin usually pay me in Bitcoin.

You're lucky that Bitcoin can be used as a payment tool in your country. In my country, it is forbidden to use a payment tool. If we are trying to accept Bitcoin as a payment tool for our business, we can be jailed or pay fines. Not every country has the same condition as in your country. You're lucky to live in a friendly country.

[Google+]

That depends on the interpretation of each individual here on this forum platform. In short, it also depends on whether a country recognizes blockchain technology and can allow it to be used in their country by users or investors who will believe in it.

But if a country is not open to this blockchain technology, for sure, Bitcoin is illegal for them, and they can even sell it in their territory, which is the country's jurisdiction. But now it is gradually being recognized by other countries in this era.

As technology develops, I am sure that there will be many platforms that apply blockchain technology, and without realizing it, many new cryptocurrencies will be created so that Bitcoin will become increasingly famous, and of course, the price will definitely be higher due to the increase in people who enter and apply blockchain technology. As far as I know, many countries have accepted the use of cryptocurrency, such as the United States, Russia, Japan, Denmark, South Korea, Finland, Nigeria, China, and Ukraine.

[MrSpasybo]

The legal status of cryptocurrencies varies around the world and may change over time. In general, many countries recognize the legality of the use and exchange of cryptocurrencies, but approaches and regulations can differ greatly.

Several countries recognize and legalize the use and trading of cryptocurrencies, provide a legal framework for exchange, and allow payments with digital currencies.

Cryptocurrency transactions are a payment alternative for everyone who wants to use cryptocurrency and transactions can be carried out quickly, especially when compared to traditional payment methods that involve intermediaries such as banks.

Yeah, the legal status of BTC depends on geography and time. One country may accept BTC as a payment method while another only sees it as an asset and still another thinks it is a risk that needs to be eliminated from the economy. Even one country can have very different views at each time about BTC, they once banned but approved or vice versa.

I only know one thing for sure that regardless of the legal status of BTC: the BTC blockchain still exists and operates 24/7, after 10 minutes there is still a new block and no one can hinder the movement of BTC on this POW network 💪💪💪

[doc]

As technology develops, I am sure that there will be many platforms that apply blockchain technology, and without realizing it, many new cryptocurrencies will be created so that Bitcoin will become increasingly famous, and of course, the price will definitely be higher due to the increase in people who enter and apply blockchain technology. As far as I know, many countries have accepted the use of cryptocurrency, such as the United States, Russia, Japan, Denmark, South Korea, Finland, Nigeria, China, and Ukraine.

Yeah as you said United States, Russia, Japan, Denmark, South Korea, Finland, Nigeria, China, and Ukraine accepted crypto currency.
At several countries also allow bitcoin and altcoin but didn't legalize yet.
I think It's good than ban crypto currency.
Crypto will be more popular, I see the popularity of crypto is increasing day by day.
I predict crypto price will more expensive at the coming future.

[jeraldskie11]

Math problems are legal.
Currency is legal.
Decentralization removes government influence and nullifies any question of legality because that’s what a free economy means.
Contract law says that if we both got something of value and no one was harmed then a transaction is LEGAL. So, again, as a non-attorney who is NOT offering legal advice, and, as a guy who uses Bitcoin on a daily basis; YES, Bitcoin is legal!!!

Yes I agree, but it's still nothing to do if the government hate Bitcoin.
We want Bitcoin to be legally accepted all the Countries around the world. Even though there are Countries who accept Bitcoin but there are also Countries that banned Bitcoin or any cryptocurrency. I'm so glad that I live in a Country where using Bitcoin is okay even though it's not legal tender.

Because of Bitcoin decentralization, government don't like it because they can't track user's transactions but since there are CEX and continuous development, some government accept Bitcoin.

[Altcoin1998$]

Math problems are legal.
Currency is legal.
Decentralization removes government influence and nullifies any question of legality because that’s what a free economy means.
Contract law says that if we both got something of value and no one was harmed then a transaction is LEGAL. So, again, as a non-attorney who is NOT offering legal advice, and, as a guy who uses Bitcoin on a daily basis; YES, Bitcoin is legal!!!

Yes I agree, but it's still nothing to do if the government hate Bitcoin.
We want Bitcoin to be legally accepted all the Countries around the world. Even though there are Countries who accept Bitcoin but there are also Countries that banned Bitcoin or any cryptocurrency. I'm so glad that I live in a Country where using Bitcoin is okay even though it's not legal tender.

Because of Bitcoin decentralization, government don't like it because they can't track user's transactions but since there are CEX and continuous development, some government accept Bitcoin.

No matter how much we ask to make Bitcoin legal, the government will not be able to recognize it as legal easily because the government has certain limitations that the government cannot easily escape. For example, the Central Bank never wants to recognize Bitcoin because in this case, if the Central Bank recognizes Bitcoin and accepts it as a means of transaction, then people will not have any confidence in the banking system. The amount of interest that banks give on loans and accept collateral cannot be accepted if Bitcoin is accepted. Moreover, there is a specific document of bank account and a database of transactions is created, but because there is no specific database in the case of Bitcoin transactions, the bank will never recognize Bitcoin transactions.

[jeraldskie11]

Math problems are legal.
Currency is legal.
Decentralization removes government influence and nullifies any question of legality because that’s what a free economy means.
Contract law says that if we both got something of value and no one was harmed then a transaction is LEGAL. So, again, as a non-attorney who is NOT offering legal advice, and, as a guy who uses Bitcoin on a daily basis; YES, Bitcoin is legal!!!

Yes I agree, but it's still nothing to do if the government hate Bitcoin.
We want Bitcoin to be legally accepted all the Countries around the world. Even though there are Countries who accept Bitcoin but there are also Countries that banned Bitcoin or any cryptocurrency. I'm so glad that I live in a Country where using Bitcoin is okay even though it's not legal tender.

Because of Bitcoin decentralization, government don't like it because they can't track user's transactions but since there are CEX and continuous development, some government accept Bitcoin.

No matter how much we ask to make Bitcoin legal, the government will not be able to recognize it as legal easily because the government has certain limitations that the government cannot easily escape. For example, the Central Bank never wants to recognize Bitcoin because in this case, if the Central Bank recognizes Bitcoin and accepts it as a means of transaction, then people will not have any confidence in the banking system. The amount of interest that banks give on loans and accept collateral cannot be accepted if Bitcoin is accepted. Moreover, there is a specific document of bank account and a database of transactions is created, but because there is no specific database in the case of Bitcoin transactions, the bank will never recognize Bitcoin transactions.

I agree with you, there are people who doesn't really trust Bitcoin and we can't really please them no matter what we explained to them in order gain trust, that's why Central Bank consider it and having difficulties in making decisions.

Fortunately, there Countries who legally accepted Bitcoin as their currency and one of that is El Salvador which is the first Country who accept Bitcoin legally. Aside from that, there is also a Bank who really accept Bitcoin payment and I believe it is a good start to increase Bitcoin's popularity.

[DAMKAR]

I agree with you, there are people who doesn't really trust Bitcoin and we can't really please them no matter what we explained to them in order gain trust, that's why Central Bank consider it and having difficulties in making decisions.

Fortunately, there Countries who legally accepted Bitcoin as their currency and one of that is El Salvador which is the first Country who accept Bitcoin legally. Aside from that, there is also a Bank who really accept Bitcoin payment and I believe it is a good start to increase Bitcoin's popularity.

Yeah el Salvador is the first country which legalized bitcoin as payment method.
It's good.
But Honestly, In my country didn't legalize crypto, but the government didn't ban this technology.
I still can do trading and also investing in crypto currency.
It's nice..
For now, maybe many people still didn't trust about crypto, the government didn't think and make rule about crypto.
as long as they don't refuse, I can't be grateful.

[vegasus]

In my opinion, what makes something legal or illegal is because we are in a certain legal area. So whatever it is, what determines whether it is legal or not is the legal body or institution that has authority in the region or country in which we live. Yes, math is legal, but it's not just about this. And when a country formulates whether something is legal or not, it is not only seen from whether it is computer based or not. but to the fundamentals, underlying, and so on which makes them formulate a law in their area.

But fortunately I live in a country where Bitcoin and other cryptocurrencies are legal, but only as a commodity asset, not as a means of payment.

[Hamza2424]

A thread from 2022 and my bro likes really this, the thread is still active that's amazing. TBH, the current timeline is the answer to the question, but what do you guys think does legalization really matter at least after experiencing the market behavior on ETF approval also there are some rumors of imposing taxes and other negative consequences.

TBH, the unclear policy is good for us to survive in this space hehe, and I'm pretty sure my country will remain unclear because they don't care haha.

[IvugeoEvolutionCoin]

In my opinion, what makes something legal or illegal is because we are in a certain legal area. So whatever it is, what determines whether it is legal or not is the legal body or institution that has authority in the region or country in which we live. Yes, math is legal, but it's not just about this. And when a country formulates whether something is legal or not, it is not only seen from whether it is computer based or not. but to the fundamentals, underlying, and so on which makes them formulate a law in their area.

But fortunately I live in a country where Bitcoin and other cryptocurrencies are legal, but only as a commodity asset, not as a means of payment.

Legality for the use of cryptocurrency should not be too necessary, but basically every country wants to regulate the circulation of cryptocurrency in its country and tries to make money from cryptocurrency trading commodities. Only a few countries provide the freedom to carry out transactions using cryptocurrency. Even though the main purpose of creating Bitcoin is to create a digital currency whose circulation cannot be controlled by anyone, including the government.