Is Bitcoin legal?

[armanda90]

Yeah , I agree with you, the government still centralised fiat system, because they can control it.
But If the government will allow bitcoin,
The government needs legislation to accept Bitcoin as payment.  Determining the amount of tax from crypto.  But if crypto is only for investment, several countries have accepted it.

Bitcoin have positive side with decentralized fiat system and has transparent when using as transaction method, but government need looking from the other side before making bitcoin as legal payment transaction. In my country bitcoin have been accepted as commodity as investment assets only and government get benefit with taxes transaction, but still not allow as payment currency and right now still not have regulation with bitcoin as legal payment transaction.
El Savador is the only one country have fully control using bitcoin as payment transaction and using for all kinds transaction there, not limitation for using bitcoin as payment method there.

[tjtonmoy]

Everything is legal and everything is illegal. It's about the society and people in power who decide what is legal and what is illegal. How you use it will also determine whether if it is legal or illegal. If you use something for the greater good, how does that make something illegal?
Everything is good until someone decides to use it for a bad purpose. And then it becomes bad. And if the mass is using it for the bad thing, then it becomes bad and tagged as illegal. But this is not true in most cases. People is power will try to make something bad if they don't have the authority or control over it. Thus restricting people from using it by making it look like a bad thing and declaring it illegal.

So nothing is legal and nothing is illegal. You choose you own path and make something legal or illegal on your own. And people in power will make something legal or illegal according to their advantage.

[DAMKAR]

Everything is legal and everything is illegal. It's about the society and people in power who decide what is legal and what is illegal. How you use it will also determine whether if it is legal or illegal. If you use something for the greater good, how does that make something illegal?
~snip~

Many people prefer use something legal, but we know bitcoin didn't allow at several countries. It means illegal, I think no. In my country the government didn't legalize bitcoin but allow bitcoin for investment. Maybe several people never talk about bitcoin there, because they said the government ban bitcoin, it's funny. Bitcoin is the future technology, the government should adopt this technology.

[kent47400]

In my country the government didn't legalize bitcoin but allow bitcoin for investment. Maybe several people never talk about bitcoin there, because they said the government ban bitcoin, it's funny.

The obstacles in various countries around the world regarding Bitcoin regulations are always different.
Maybe if I'm not mistaken, China once banned Bitcoin, but now finally it has opened up new regulations on Bitcoin.
Then there is the country of El Salvador which is wide open to the use of Bitcoin and as far as I know the president also gives small Bitcoin denominations to all its citizens.

At any time, the regulations for Bitcoin will definitely change because just like our lives, the rules always change.

[Perfect540]

Bitcoin has been legalized in all the countries that have approved the use of Bitcoin, especially EI Salvador, CAR, recently Argentina, one of the world's Bitcoin friendly countries.  However, various countries of the world are opposing Bitcoin, especially India has imposed a ban on Bitcoin a few days ago, and China has always shown an aggressive attitude towards Bitcoin.  Bitcoin has no legality in my country and nothing can be said for sure whether it will be legalized in the distant future.  Bitcoin is completely illegal in Bangladesh and investing in Bitcoin is strictly against the law.

[therozaq]

Bitcoin has been legalized in all the countries that have approved the use of Bitcoin, especially EI Salvador, CAR, recently Argentina, one of the world's Bitcoin friendly countries.  However, various countries of the world are opposing Bitcoin, especially India has imposed a ban on Bitcoin a few days ago, and China has always shown an aggressive attitude towards Bitcoin.  Bitcoin has no legality in my country and nothing can be said for sure whether it will be legalized in the distant future.  Bitcoin is completely illegal in Bangladesh and investing in Bitcoin is strictly against the law.

I think it needs along time again , the government will legalize bitcoin and crypto currency. Keep calm, if the government against and ban bitcoin , I think they didn't know what advantage of crypto currency. They should learn about block chain technology.
At several countries as you said elsavador and Argentina allow bitcoin .

[tjtonmoy]

Many people prefer use something legal, but we know bitcoin didn't allow at several countries. It means illegal, I think no. In my country the government didn't legalize bitcoin but allow bitcoin for investment. Maybe several people never talk about bitcoin there, because they said the government ban bitcoin, it's funny. Bitcoin is the future technology, the government should adopt this technology.

The government will never give up the opportunity to control the people. They will do whatever they can to keep us in control. For example, the government in your country let people invest in Bitcoin but Bitcoin is not legal over there. So what happens when one day you wake up and hear that BTC is illegal in your country? What happens to people's investment? The government can easily put charges on people for using or owning BTC.

It's just the people in power who decides whether if something is illegal or not. You can't do anything in the end because you are not a part of that power.

[elbans89]

The government will never give up the opportunity to control the people. They will do whatever they can to keep us in control. For example, the government in your country let people invest in Bitcoin but Bitcoin is not legal over there. So what happens when one day you wake up and hear that BTC is illegal in your country? What happens to people's investment? The government can easily put charges on people for using or owning BTC.
~snip~

The government always want to control what the citizens do, that's true. They can take the tax from our transaction in crypto.  They should have regulations if they want control bitcoin and other.
If bitcoin illegal in my country, I think It's not matter, we still can do transaction in exchange using VPN.
But If the government against and refused, I think it will be negative issues in my country.

[DaNNy001]

Looking from a different perspective, other than what the thread creator has provided, Bitcoin cam be termed illegal in some countries where it is restricted or baned by the government. Bitcoin wasn't formally accepted in my country, and during that period, any crypto transaction attempt on your fiat bank, would lead to blocking of your bank account. Irrespective of the amount you have in it, after making such attempt you won't have access to your funds. It was as serious as that, but now the ban has been removed so we can freely make transactions without having our account blocked. However, Bitcoin was created for all, but not everyone will use it. The programming code used in making Bitcoin, didn't go against any law or rule of any country but their government still fights against it, just because of its decentralized nature.

[JoyMarsha]

The legality of bitcoin varies, depending on where you live in the world. While some countries support it as legitimate, others do not. While there are countries that have long prohibited Bitcoin, in recent times, these nations have started to acknowledge Bitcoin as legitimate money for their nationals.

It is my sincere hope that other nations which have declared bitcoin to be illegal will eventually reconsider their position to make it legal for their citizens

[sampoerna]

Everything is legal and everything is illegal. It's about the society and people in power who decide what is legal and what is illegal. How you use it will also determine whether if it is legal or illegal. If you use something for the greater good, how does that make something illegal?
Everything is good until someone decides to use it for a bad purpose. And then it becomes bad. And if the mass is using it for the bad thing, then it becomes bad and tagged as illegal. But this is not true in most cases. People is power will try to make something bad if they don't have the authority or control over it. Thus restricting people from using it by making it look like a bad thing and declaring it illegal.

It is  not the society, but it is the GOVERNMENT of the country that states whether something is legal or not legal, based on the laws and regulations established and in force in that country. And if it has become a law and regulation, then all citizens must obey it> And if you ignore it or don't obey it, then there will be sanctions given, whatever they are.

That's why, at this time, unfortunately, we can't really escape from the bonds of centralized government. Because after all this will be difficult for those of us who live in countries with certain authorities. However, fortunately in my country, crypto is legal, only as a commodity asset, and illegal if used as money for payments.

[Power420]

, Bitcoin is legal!!!

Bitcoin is a coin suitable for all investors. 100% Investors Bitcoin So Bitcoin has been faithfully in the market for a long time. Haven't heard any bad news about Bitcoin yet, so I believe Bitcoin the most. I have seen a lot of Altcoin destruction from the market, so I believe in Bitcoin and every year the price of Bitcoin increases the most during the halving cycle. All Altcoins are dependent on Bitcoin, so Bitcoin is not dependent on anyone. Bitcoin is legal currency.

[KingsDen]

, Bitcoin is legal!!!

Bitcoin is a coin suitable for all investors. 100% Investors Bitcoin So Bitcoin has been faithfully in the market for a long time. Haven't heard any bad news about Bitcoin yet, so I believe Bitcoin the most. I have seen a lot of Altcoin destruction from the market, so I believe in Bitcoin and every year the price of Bitcoin increases the most during the halving cycle. All Altcoins are dependent on Bitcoin, so Bitcoin is not dependent on anyone. Bitcoin is legal currency.

It is the government that determines what is legal or not. And there's no one government of the world. So bitcoin cannot be said to be legal or illegal in the general term. This is because bitcoin can be illegal in China but legal in El Salvador.

So bitcoin has different status in different countries of the world.  In my country, bitcoin is not a legal tender but yet it is not illegitimate. I think I like it so.

[famososMuertos]

This topic is from 2020, but it does not lose validity, OP's explanation seems somewhat "rigged" to me to arrive at the idea of Legal.

Come on, I just had a discussion on the subject and the first thing to do is define legal in each country, from there, we can interpret that "legal" does not mean that you can carry out purchase and sale transactions of any good, in In my case, it can be done p2p, use it for whoever accepts it for payments, etc.

But for the formality of a purchase and sale, a legal document that allows me to deduct taxes does not work, even if it is legal, that is, I must sell it and then justify my funds, not because I sold them they are already legal, the money product of That sale in my Fiat currency is the legal formal payment.

[gunhell16]

Yeah , I agree with you, the government still centralised fiat system, because they can control it.
But If the government will allow bitcoin,
The government needs legislation to accept Bitcoin as payment.  Determining the amount of tax from crypto.  But if crypto is only for investment, several countries have accepted it.

Bitcoin have positive side with decentralized fiat system and has transparent when using as transaction method, but government need looking from the other side before making bitcoin as legal payment transaction. In my country bitcoin have been accepted as commodity as investment assets only and government get benefit with taxes transaction, but still not allow as payment currency and right now still not have regulation with bitcoin as legal payment transaction.
El Savador is the only one country have fully control using bitcoin as payment transaction and using for all kinds transaction there, not limitation for using bitcoin as payment method there.

When it comes to legality, not all countries recognize Bitcoin; other countries ban it first before they recognize it. Others do not recognize it because of the decentralization that Bitcoin has, or they think that it is a threat to their country, but the truth is that it is not; instead, it can even help the economy of a country that recognizes it.

Even here in our country, Bitcoin is recognized, and our government has become more open to it because more merchants now accept Bitcoin as payment in their businesses. Because if it were, there would be no such situations, for sure.