I doubt that your country exempts you from taxation on Bitcoin. They might not specifically mention Bitcoin or crypto currencies by name, but that doesn't mean you are free to not report your gains and whatnot.

I have seen a lot people here say that Bitcoin needs to be regulated or legalized in order to be taxed, but that's not the case. These people have probably never paid tax yet which could explain their ignorance in that field.

May I know what country you're from? I would like to have a look if you're right or not. It's quite dangerous to not know how taxation works in a time where agencies fish for data from exchanges about their users.