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Board Legal
Re: In which countries is officially legalized bitcoin?
by
qwertyup23
on 16/02/2018, 03:53:40 UTC
    In which countries is officially legalized bitcoin?
    Belarus, Ukraine and the countries of Asia - are exactly loyal.
    Finland too.

    Just to give you the summary, here are some countries regarding their legality towards bitcoin:

    • China - Some ICOs were restricted and the country has issued some implementations about the utilisation of bitcoins. Since they are also considered as one of the biggest bitcoin population, their restriction resulted to a massive decrease on the price of bitcoins before.
    • Hongkong - The country accepts bitcoin as the CEO of HKMA said in a statement that 'bitcoin' is just a virtual thing. They do not see it as a threat as of the moment and the country is probably lenient towards it.
    • Indonesia - The Central Bank of India has issued a warning about bitcoin, stating that they do not see it as a currency and people utilising such may break the laws. Due to this, cryptocurrencies in general are not acceptable to the country.
    • India - The status of bitcoin in India remains uncertain as the government is reluctant about its use. The government had issued several statements and warnings when using bitcoin onto transactions.
    • Israel - Fortunately, the government has not yet issued any warning statements or prohibitions with regards to bitcoin. They even stated that bitcoin may be used as a tool for lawyers as a legitimate instalment strategy.
    • Japan - The country accepts bitcoin as an alternative currency and they see its potential in the market. The government acknowledges its utilisation while being supportive to cryptocurrencies as well. They also encourage the general public into utilising such.
    • Kyrgyzstan - According to their national law, the use of bitcoin or cryptocurrencies is illegal.
    • Philippines - The BSP (Central Bank) issued some statements regarding transacting into bitcoin as it poses risks to individuals. Nevertheless, the BSP has not regulated cryptocurrencies in general and the country's lenient towards it.
    • Singapore - One of the few countries who see bitcoin as something that is beneficial to the public.

    Here is the link if you want to view the whole legality of bitcoin in ASIA: http://www.coinnewsasia.com/legality-by-country-asia/
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