Is Bitcoin legal?

[therozaq]

I say this is still a gray-zone, because my government does not fully support or does not carry out mass adoption.
It's just about commodities, and it won't be much more than that.

Legitimate payments remain with traditional money and may not use crypto.
Nonetheless, crypto is becoming quite in demand and governments are increasingly eager to develop it.
There are no obstacles even though regulation is not entirely favorable, but it is a good path for crypto development.

We come from with the same country, based on my viewed our government not really care about cryptocurrency become legal payment transaction in the future just take points how to earn benefit trough taxes transaction. Since adopted first time almost one year and earn much money from taxes not significant progress for the future bitcoin will be legal transaction not only as commodity assets.
Its bitcoin regulation right now will be more profitable assets for government and earn income trough taxes transaction but in other side they won't help bitcoin become legal currency transaction in the future.

The government always takes the opportunity to collect taxes from our crypto transactions, which is quite a good income for the country. But do they think they want to use the legality of bitcoin as a payment method, because if it is approved, we can buy anything in our country with bitcoin. but maybe this will happen in the future, if the government allows it.

[taufik123]

Even though the government only allows bitcoin for investment and not as a means of payment, I think this is good. At least we as Bitcoin lovers can invest in Bitcoin comfortably, because the government has legalized it.

Yups, I feel grateful that the government has provided the right regulations, although not completely.
The important thing is not to ban crypto from developing, seeing how other countries that ban bitcoin it becomes a nightmare,
there is no support whatsoever from the government that prohibits it.

[IvugeoEvolutionCoin]

In fact, if the government legalizes bitcoin for transactions, it will have a positive impact on bitcoin, the price will be more stable. Despite the volatile character of bitcoin. We can use the USD standard to assess it. The legality of bitcoin is not required if bitcoin is only used for investment.

The government must carefully consider when it wants to accept bitcoin as a legal transaction tool, because bitcoin has a very limited supply, the government is very afraid of bitcoin being used as a weapon to destroy a country's economy.
So this is why governments in rich countries that have good economies do not give permission to use Bitcoin as a legal transaction.

[Metha Wulandarin]

What is the importance of legal Bitcoin?
Should Bitcoin be legalized?
So what's in it for us bitcoin holders?
Didn't Sathosi create Bitcoin for anonymity and doesn't need legality?

What is the importance of Bitcoin being legal?
For me, whether it is legal or not is the same because in this country it does not yet support Bitcoin withdrawal to the Bank, it still requires a financial services authority.
The benefits of Bitcoin holders are just money and money.
All crypto is anonymous it is not recommended to share personal information in the crypto world.

In fact, if the government legalizes bitcoin for transactions, it will have a positive impact on bitcoin, the price will be more stable. Despite the volatile character of bitcoin. We can use the USD standard to assess it. The legality of bitcoin is not required if bitcoin is only used for investment.

The advantage of legal Bitcoin is only for bitcoin miners because with legal Bitcoin miners can freely carry out Bitcoin mining activities without having to think about licensing.
For ordinary people like me, Bitcoin legal or not is not important because I rarely trade Bitcoin and I also have no desire to become a Bitcoin holder, I am more interested in becoming an Ethereum holder even though my Ethereum amount is now only 0.005ETH.

[salad daging]

-snip-
In my country bitcoin is recognized as a commodity asset the rest if someone makes a transaction outside of fiat will be punished, it is not recommended so for future prospects we never know the opportunity for adoption will be greater like it.

Our country is still quite tolerant of crypto regulation, quite satisfied with what has been done.
Not too prohibitive the development of crypto, even in the future with the new president will develop crypto for the better.

Regulation as a commodity asset has certainly passed many considerations, in addition to the considerable crypto risks, ordinary people also cannot control their crypto use.
Opportunities for mass adoption in the future certainly exist, but these will really be tailored to the circumstances of our country.

Yes, now we are quite satisfied with our country because crypto regulations are now safe and will be monitored.
I am also waiting for how the new president of our country will prepare experts on crypto meaning that there will be more development in this sector and we hope to be more by developing faster.

I don't know how long this adoption will take but we have to follow the flow of time and never expect it to be faster it also depends on the government to decide, but so far whoever owns crypto will not be a problem because there are already regulations.

[Gladitorcomeback]

The government must carefully consider when it wants to accept bitcoin as a legal transaction tool, because bitcoin has a very limited supply, the government is very afraid of bitcoin being used as a weapon to destroy a country's economy.
So this is why governments in rich countries that have good economies do not give permission to use Bitcoin as a legal transaction.

All they are afraid of is losing control over their people, their finances, and financial activities because if Bitcoin becomes a legal mode of payments and transactions, people would barely use the banks anymore, or even if they do, they would reduce their banking activities because most of them would start using Bitcoin for storing their money and that wouldn't be a pleasant thing for government authorities.

They know they can't control Bitcoin or trace all the transactions being done in the blockchain because they can't filter the content of the blockchain for a specific country or trace every transaction back to every single individual like how they can do with traditional financial systems, and this is what they are afraid of in reality.

[de_prof]

The government always takes the opportunity to collect taxes from our crypto transactions, which is quite a good income for the country. But do they think they want to use the legality of bitcoin as a payment method, because if it is approved, we can buy anything in our country with bitcoin. but maybe this will happen in the future, if the government allows it.

Maybe the government is still studying and studying to create regulations that legalize bitcoin as a payment method. Because making regulations for the government is not easy. At least we are allowed to invest in bitcoin, which is a good thing.

They know they can't control Bitcoin or trace all the transactions being done in the blockchain because they can't filter the content of the blockchain for a specific country or trace every transaction back to every single individual like how they can do with traditional financial systems, and this is what they are afraid of in reality.

If simply not being able to control bitcoin and not being able to track transactions from bitcoin is used as a reason for not legalizing bitcoin as a payment method, that seems like a less than strong reason. Because bitcoin is already popular, there should be rules governing it for transactions.

[Sokani]

If simply not being able to control bitcoin and not being able to track transactions from bitcoin is used as a reason for not legalizing bitcoin as a payment method, that seems like a less than strong reason. Because bitcoin is already popular, there should be rules governing it for transactions.

This is a lame excuse. The government of developed countries are using blockchain analysis companies to monitor and track bitcoin transactions, so what stop these other countries from using such services too? I think they're scared of the power they tend to lose if they accept Bitcoin as they won't be able to freeze bitcoin the way they freeze fiat, for that reason they consider it illegal and a currency for bad actors.

[SmartGold01]

One can consider bitcoin legal if they are allowed to use and trade it over there in any country let say for instance when your country uses bitcoin for trading and buying of goods and services then we can say Bitcoin is free those who are in that jurisdiction, but that doesn't mean that its yet legal in that country. Legality comes when the central authority of the national accept it as legal tender then we can say it's legal in that country but that doesn't mean it's also legal in another country, the thing is every country has their own ways of using bitcoin therefore we can't assume bitcoin is legal in every country people over there can use without their government announcing the total freedom.

[taufik123]

-snip-
I don't know how long this adoption will take but we have to follow the flow of time and never expect it to be faster it also depends on the government to decide, but so far whoever owns crypto will not be a problem because there are already regulations.

Didn't expect more, but our country is already going better for crypto and there is no ban entirely.
All regulations have been thought out and analyzed according to user needs and government benefits.

All are free to use crypto, but every platform that facilitates crypto trading will be taxed, and this is a source of income for the government.
Of course, this is fair because the flow in and out of money in crypto is quite large.

[bayu7adi]

I don't know how long this adoption will take but we have to follow the flow of time and never expect it to be faster it also depends on the government to decide, but so far whoever owns crypto will not be a problem because there are already regulations.

Some crypto assets are safe to own, but there are some coins that deserve to be suspected as a cover for fraud. You definitely know that there are lots of fraudsters who are involved in the world of cryptocurrency, they offer big profits in a short time for those who buy their coins, but that never happens. Because their real goal is to deceive.

I would prefer crypto regulations to be tightened to eradicate fraudsters and not make things complicated for the administration when a promising project appears. I hope the government can be a protector for the community so that they don't get trapped in fraudulent investments that are still popping up in society.

[Gladitorcomeback]

One can consider bitcoin legal if they are allowed to use and trade it over there in any country let say for instance when your country uses bitcoin for trading and buying of goods and services then we can say Bitcoin is free those who are in that jurisdiction, but that doesn't mean that its yet legal in that country. Legality comes when the central authority of the national accept it as legal tender then we can say it's legal in that country but that doesn't mean it's also legal in another country, the thing is every country has their own ways of using bitcoin therefore we can't assume bitcoin is legal in every country people over there can use without their government announcing the total freedom.

The same is the case in our country. Bitcoin isn't legal because the government hasn't announced that the citizen can freely use and trade cryptocurrencies or Bitcoin within the country, but people do use them because exchange, wallets, and all other platforms and places offering Bitcoin and cryptocurrency services are available in the country, but if your bank or any traditional financial account firm finds out that your transactions are directly or indirectly related to Bitcoin or cryptocurrencies, you can get in trouble and they will block your account and seize your funds.

So it's a bit complicated, but hopefully things can get better in the future, in our country and in other countries as well.

[littledragon7]

-snip-
I don't know how long this adoption will take but we have to follow the flow of time and never expect it to be faster it also depends on the government to decide, but so far whoever owns crypto will not be a problem because there are already regulations.

Didn't expect more, but our country is already going better for crypto and there is no ban entirely.
All regulations have been thought out and analyzed according to user needs and government benefits.

All are free to use crypto, but every platform that facilitates crypto trading will be taxed, and this is a source of income for the government.
Of course, this is fair because the flow in and out of money in crypto is quite large.

Taxes will always be the government's target, they always say they are for state revenue. Will taxes be distributed correctly?
not corrupted..

[legend45]

One can consider bitcoin legal if they are allowed to use and trade it over there in any country let say for instance when your country uses bitcoin for trading and buying of goods and services then we can say Bitcoin is free those who are in that jurisdiction, but that doesn't mean that its yet legal in that country. Legality comes when the central authority of the national accept it as legal tender then we can say it's legal in that country but that doesn't mean it's also legal in another country, the thing is every country has their own ways of using bitcoin therefore we can't assume bitcoin is legal in every country people over there can use without their government announcing the total freedom.

Actually, with a bitcoin ETF that is approved by the SEC, it is also good to create bitcoin that has been recognized by the SEC. If it's about Bitcoin legalistas recognized by our country's government, we can wait. There are several countries that have legalized it as a payment method. Some are only permitted as investments.

[salad daging]

I don't know how long this adoption will take but we have to follow the flow of time and never expect it to be faster it also depends on the government to decide, but so far whoever owns crypto will not be a problem because there are already regulations.

Some crypto assets are safe to own, but there are some coins that deserve to be suspected as a cover for fraud. You definitely know that there are lots of fraudsters who are involved in the world of cryptocurrency, they offer big profits in a short time for those who buy their coins, but that never happens. Because their real goal is to deceive.

I would prefer crypto regulations to be tightened to eradicate fraudsters and not make things complicated for the administration when a promising project appears. I hope the government can be a protector for the community so that they don't get trapped in fraudulent investments that are still popping up in society.

Like Smart Wallet, PI tokens and many other types, there are already too many in our country about cases like this they target ordinary people including mothers who don't know what's what, and the news is that Smart wallet is now a scam because this is clearly a ponzi scheme.

Yes, it is true that the government should tighten this rule so that it does not take many victims, but for some reason so far there are still many who join, maybe because the site is from outside along with the owner, but many are targeted by ordinary people.

Until now there are still many victims with ponzi schemes but different project names.