Post
Topic
Board Legal
Re: Not Yet Legal But Not Banned
by
Ozero
on 29/10/2018, 20:23:58 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. 
Smart decision. Together with the legalization of cryptocurrency, as a rule, the income tax comes from its use. Therefore, the undefined status of cryptocurrency means so far and the absence of taxation. However, in this case it is necessary to act at your own risk and risk with almost no state support.