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Board Beginners & Help
Re: New to BitCoin and have concerns
by
kparcell
on 21/07/2011, 18:23:29 UTC
Can anyone name one nation that has declared this type of exchange system either legal or illegal?

In the US, there are laws defining money and regulating its use.  Bitcoin is a money there by definition if it is used as money (almost anything can be used as money), but it isn't legal for several reasons.  One reason is that legal money in the US must be denominated in a US Dollar value with a minimum value of 1 USD.

Bitcom neglects obvious questions in its FAQ section, such as "What is the value of a bitcoin?" (and "Where are bitcoins illegal?", etc,) and thus it can not legally be used as money in the US.

So, I'm interested in collecting useful data on these issues, beginning with a list of nations that have declared bitcoins legal or illegal.

Anyone?  Is there an existing list?