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Probably You Don’t Know in Which Country Bitcoin is Legal or Bitcoin Illegal

Bitcoin is legal or illegal in which country probably you don’t know. Bitcoin is decentralized digital currency which has no boundary, the only currency where there is no need of bank system. Money can be easily transferred from person to person in very short time, no matter if the second person is out of the country or any part of the world. Bitcoin price is going down due to same banning news from November from different nation along with some bitcoin regulatory implementation.

Due to some multiple reasons Bitcoin or Cryptocurrency is not accepts as legal by government of different nation. Here we are going to share some countries where crypto or bitcoin legal or illegal. Data analysis carried out on 13 January, 2018, few countries are planning to ban bitcoin in the future will be updated later with updated data analysis.

There are total 5 countries where bitcoin and all cryptocurrencies are ban and illegal.

Argentina:

Bitcoin is legal in Argentina but it is not a legal currency. Bitcoin is a thing or good under Argentina’s civil code. Bitcoins transactions may be governed under the Civil Code under rules for the sale of goods.

Australia:

Bitcoin is legal in Australia. The governor of Reserve Bank of Australia (RBA) stated in an interview that there would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to. There is no law against that, so we do have competing currencies. On 1 July 2017 Australia officially confirmed Bitcoin just like money.

Bangladesh:

Bitcoin is illegal in Bangladesh and according to bank “anybody caught using the virtual currency could be jailed under the country’s strict anti-money laundering laws”

Belgium:

Bitcoin is legal in Belgium, according to one statement Finance Minister that there is no need of government intervention at this time.

Bolivia:

Bitcoin is illegal in Bolivia by the Central Bank of Bolivia in a resolution. Resolution of banning Bitcoin and other currencies issued that have no regulation by a country or economic zone.

Bosnia and Herzegovina:

Bitcoin is legal in Bosnia and Herzegovina due to no regulation on use of bitcoin or any crypto.

Brazil:

Bitcoin is currently legal due to no regulation. According to Central Bank Of Brazil all cryptocurrencies have no regulation and are discourag due to operational risk.

Bulgaria:

Bitcoin is legal in Bulgaria due to no law related to bitcoin or any crypto.

bitcoin is legal

Canada:

Bitcoin is legal in Canada but bitcoin related business models including exchanges and ATMs are regulated under its current M.S.B. Act.

Colombia:

Bitcoin is legal in Colombia because of no regulation yet.

Chile:

Chile is legal because of no regulation yet.

China:

Legality in China is unclear but China is not accepting bitcoin as digital currency however they are soon starting crackdown on mining.

Hong Kong:

Bitcoin is legal in Hong Kong.

Denmark:

Bitcoin is legal in Denmark.

Ecuador:

Bitcoin and all digital currencies are ban in Ecuador.

Indonesia:

Bitcoin is illegal in Indonesia as payment tool. Bitcoin also supposed to be Legal in Indonesia due to mining and trading not covered in regulation.

Kyrgyzstan:

Bitcoin and all digital currencies are illegal in Kyrgyzstan.

Nepal:

Bitcoin is illegal in Nepal.

However here is a short list where bitcoin is legal and not regulated.

Korea (South), Lebanon, Lithuania Luxembourg,  Malaysia, Malta, Mexico, Namibia, Netherlands, New Zealand, Nicaragua,  Nigeria, Norway, Pakistan, Philippines, Poland, Portugal, Romania, Russia

Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Kingdom, United States, Vietnam, Zimbabwe

 

Please add more countries by commenting below, we will further update it.

Let’s make this portal informative for everyone.

Also check for our bitcoin news updates.

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