Post
Topic
Board Legal
Re: Not Yet Legal But Not Banned
by
Mhd-Bobbi
on 27/10/2018, 16:15:36 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. 

Actually what happens if the use of bitcoin is not official, I see almost all countries that use bitcoin, but they continue to use it even though their state government does not approve it.

In essence, even if it's not prohibited, just enjoy it if bitcoin can produce and meet your needs.

If we wait for a request to be approved by the government, it will take a very long time, because there is no legal basis for the law of bitcoin currency.

I think it's back to ourselves to take an attitude in using bitcoin.