Post
Topic
Board Legal
Re: Not Yet Legal But Not Banned
by
maarx
on 07/05/2018, 07:27:00 UTC
Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.

However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.

For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes. 

I live in a country with the same situation here.  It's not yet legalized or announced  as illegal. Heard news from government authorities that there will a crypto coin launched vet soon along with other business personality launching his own crypto currency. He is working towards it with a team formed by his own son who is well familiar with blockchain. Hope the currency by business per5comes in effect by start of next year. Way to go.