Yes, I have never heard that someone got arrested for selling bitcoin. In my country, there are still no regulations that are implemented because bitcoin is still unknown to many of my citizens so at this moment selling bitcoins is legal.
selling bitcoin is not against the law, maybe even in any country, which is sometimes a problem usually moving to a certain bank and with an unnatural amount, this often raises the suspicion of the authorities, but things like this are very common, because the authorities must will always monitor big money movements because of anticipating money laundering, or other criminal acts, but the point is that exchanging bitcoin is legal.