Is Bitcoin legal?

[anshor1]

Legal or not it doesn't matter as it is decentralized asset so governments has no control of it. It has become legal nowadyas because SEC recently approved Bitcoin ETF. Our country is Bitcoin friendly so I can say that it is legal here though central banks regulated local and international crypto exchanges but it's all good.

You're right, legal or not it is doesn't matter  for  bitcoin .
The government just can legalized but didn't control bitcoin.
In my country, the government is starting to interest in  crypto currency.
Hopefully the government will legalize bitcoin soon, it's not about legalize.
But just for comfortable and secure for bitcoin lovers.

[MVL~$]

There are many countries in the world where Bitcoin has been legalized. There are also many countries where Bitcoin is illegal. With the current popularity of Bitcoin and the people's interest in it, Bitcoin will be legalized in all countries of the world in the future as clear as day. For some reason Bitcoin is still not legalized in many countries. But hopefully in the future Bitcoin will be legalized in every country as the privacy of Bitcoin becomes more secure. But it can be time consuming.

[Gurujebs]

You're right, legal or not it is doesn't matter  for  bitcoin .
The government just can legalized but didn't control bitcoin.
In my country, the government is starting to interest in  crypto currency.
Hopefully the government will legalize bitcoin soon, it's not about legalize.
But just for comfortable and secure for bitcoin lovers.

The status of a bitcoin in a country is very important because it gives people pre warning on how to be prepared against future expectations. Look at the state of China for instance, they have ban bitcoin for some years and yet their own people want to hold bitcoin, it wasn't clear not until 2021 when their government finally ban bitcoin, any other thing related to Bitcoin including mining.

It's more polite for government to be straight forward about something, it's better for a government to say from beginning that they love bitcoin and want to legalize it even if they don't want to use it as legal tender than for them to politically ban it. People that are using it before will have to start making preparations on how to meet up with the time especially those that used centralized exchanges, personal wallets don't need to worry about anything.

[Rubel007]

You are right that it is usually up to the government of the country where you live to decide whether it will be legal or not. However, it will take a long time for Bitcoin to become legal. In many countries the government does not support decentralized transactions and the government has no control over it. However, if legal, the demand for crypto will increase further.

Since Bitcoin is decentralised it is challenging for governments to support it. Although we have learned about El Salvador as the country that has legalised Bitcoin. Bitcoin is fully legal in their country. People in their country will definitely know Bitcoin as legal. But in all other countries of the world no legalisation has been given yet. In that case they can also call it illegal. But an interesting thing is that even after Bitcoin has been declared illegal by almost all the countries in the world, Bitcoin is used by all but no one can say anything. If Bitcoin can be used normally or used by everyone without Bitcoin being validated then in one sense I can say it legal.

[legend45]

There are many countries in the world where Bitcoin has been legalized. There are also many countries where Bitcoin is illegal. With the current popularity of Bitcoin and the people's interest in it, Bitcoin will be legalized in all countries of the world in the future as clear as day. For some reason Bitcoin is still not legalized in many countries. But hopefully in the future Bitcoin will be legalized in every country as the privacy of Bitcoin becomes more secure. But it can be time consuming.

You're right, I also believe bitcoin will be legalized all countries some day.
For now , there are several countries didn't allow bitcoin as investment and other .
But no matter.
as long as we can still invest with bitcoin, it's no problem.
need knowledge and rules from state officials to be able to accept technological advances.

[Fivestar4everMVP]

Bitcoin for me is illegal when we judge it base from the original meaning of "LEGAL".
Legal in the dictionary means- 1) of, based on, or concerned with the law. 2) permitted by law.

So it all depends on the kind of government of which you have in your country.
As years passes by, some countries have started accepting bitcoin and making them legal.
Maybe by next decade, majority will accept bitcoin and legalized it.

Well, as much as I may want to agree with you, I may still want to argue that bitcoin have actually become legal since it's spot ETF was approved by the US securities and exchange commission, several countries where bitcoin used to be illegal because they banned it have actually started to unban it, for example, here in nigeria, bitcoin transactions used to be banned, but soon after the bitcoin spot ETF was approved, the present government have now unbanned bitcoin transactions.

So, in essence, I would say that, in a situation where the world power have made a thing legal, then it's legal, every other side powers still making that thing illegal is nothing but minority.

[Bitcoin_people]

There are many countries in the world where Bitcoin has been legalized. There are also many countries where Bitcoin is illegal. With the current popularity of Bitcoin and the people's interest in it, Bitcoin will be legalized in all countries of the world in the future as clear as day. For some reason Bitcoin is still not legalized in many countries. But hopefully in the future Bitcoin will be legalized in every country as the privacy of Bitcoin becomes more secure. But it can be time consuming.

Bitcoin is currently traded and legalized in many countries around the world. But if you notice El Salvador has officially legalized Bitcoin in the country and transactions are always completed with Bitcoin. Moreover, when bitcoin is legalized in a country, if bitcoins are invested there, that country becomes financially prosperous. Because we know Bitcoin is a store of value so investing here will definitely bring a lot of value to a country from this investment. However, in the countries that currently do not legalize Bitcoin, it is hoped that in the future they will also legalize Bitcoin and its demand will increase. When the demand for this Bitcoin continues to grow, the value of Bitcoin will increase and it will become more popular because Bitcoin is a privacy-protecting currency.

[Papusha20]

There are many countries in the world where Bitcoin has been legalized. There are also many countries where Bitcoin is illegal. With the current popularity of Bitcoin and the people's interest in it, Bitcoin will be legalized in all countries of the world in the future as clear as day. For some reason Bitcoin is still not legalized in many countries. But hopefully in the future Bitcoin will be legalized in every country as the privacy of Bitcoin becomes more secure. But it can be time consuming.

Bitcoin is currently traded and legalized in many countries around the world. But if you notice El Salvador has officially legalized Bitcoin in the country and transactions are always completed with Bitcoin. Moreover, when bitcoin is legalized in a country, if bitcoins are invested there, that country becomes financially prosperous. Because we know Bitcoin is a store of value so investing here will definitely bring a lot of value to a country from this investment. However, in the countries that currently do not legalize Bitcoin, it is hoped that in the future they will also legalize Bitcoin and its demand will increase. When the demand for this Bitcoin continues to grow, the value of Bitcoin will increase and it will become more popular because Bitcoin is a privacy-protecting currency.

Bitcoin is already legalized in many countries, with Argentina legalizing the cryptocurrency and El Salvador legalizing it. The government of El Salvador, Nayib Bukele, has used every opportunity to introduce Bitcoin to the public and provide benefits to the people. El Salvador used to be one of the worst and most crime-ridden countries in the world, since Nayib Bukele came to power he arrested all the criminals and legalized Bitcoin and made it almost a developed country. The world now has a country called El Salvador, the whole world knows about it's identity only because of its gentleness to Bitcoin. Gas fee in El Salvador is absolutely free no transactions and transaction fees so all the people are happy and invested a lot in El Salvador.

[CryptoLaila]

~

well, El Salvador is now popular from their bod step and it's no news what their bold step was.
I just hope others will follow this great innovation but i doubt as they still cherish the fiat system because of their activities  or maybe they are afraid to come to a world of decentralised  system

[elbans89]

~

well, El Salvador is now popular from their bod step and it's no news what their bold step was.
I just hope others will follow this great innovation but i doubt as they still cherish the fiat system because of their activities  or maybe they are afraid to come to a world of decentralised  system

Yeah ,
The adoption of Bitcoin as legal tender in El Salvador is a good way to be a pioneer.
First country to allow bitcoin as payment.
Hopefully other countries will follow El Salvador.
But until now I have never heard about whether this method works or not.
In some countries still reject and prohibit bitcoin.
But let's look again in a few years.

[CryptoLaila]

In some countries still reject and prohibit bitcoin.
But let's look again in a few years.

Probably  in the next few years, some countries  still want the centralised fiat system because of the benefits  they derived from the trading system .
They are not even close to changing  their mind but we keep wising up .

[Litzki1990]

It's as simple as we think why governments don't approve bitcoins or why governments don't accept bitcoins as legal tender. As easy as we think like this, in reality the matter is not so simple. In order to accept Bitcoin as a legal document of a country, that country has to think about many things and go through many rules and regulations. Accepting a new currency as a legal document will require changes in various parts of the country's records. Things are not that simple at all. We think accepting Bitcoin as a legal document will improve the economic condition of the country but there are better thinkers than us in those countries who do not want to legalize Bitcoin in their country. But there are many countries who accept the risk and they make many positive decisions about Bitcoin but not all countries can accept this risk.

[TopT3ns]

Probably  in the next few years, some countries  still want the centralised fiat system because of the benefits  they derived from the trading system .
They are not even close to changing  their mind but we keep wising up .

Depending on the development of the digital currency currently used, when many want to make the world's currency into one digital or centralized currency, there will be many choices that can use cryptocurrency, but you need to know that many want to control the circulation of world money, so if you want to create a centralized fiat system, it will be difficult to implement.

[de_prof]

In some countries still reject and prohibit bitcoin.
But let's look again in a few years.

Probably  in the next few years, some countries  still want the centralised fiat system because of the benefits  they derived from the trading system .
They are not even close to changing  their mind but we keep wising up .

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.

[0t3p0t]

Probably  in the next few years, some countries  still want the centralised fiat system because of the benefits  they derived from the trading system .
They are not even close to changing  their mind but we keep wising up .

Depending on the development of the digital currency currently used, when many want to make the world's currency into one digital or centralized currency, there will be many choices that can use cryptocurrency, but you need to know that many want to control the circulation of world money, so if you want to create a centralized fiat system, it will be difficult to implement.

Yeah given that investors want this full control thing with their holdings and that is where fiat or centralized currency is not an option. Though both of them can be together they just vary in control and investors will surely be in favor of the decentralized one.