Post
Topic
Board Bitcoin Discussion
Re: Bitcoins Regularization in Different Countries
by
Bttzed03
on 06/02/2020, 04:14:11 UTC
That map from Wikipedia is somewhat misleading. Our country is colored green and from what dothebeats described
Quote
the green-colored countries are the countries in which you can openly use bitcoin without the fear of being persecuted or deported.
It's openly being used here because the government authorities doesn't apprehend anyone who uses bitcoin to pay for goods/services. In reality, it's not actually recognized as a legal tender. What's legal/regulated though are Virtual Currency exchanges. Through these platforms, you can freely exchange virtual currencies such as Bitcoin to fiat and vice versa.

~ Even Running Exchanges are Banning The people and not Returning Funds.
We've seen plenty of cases where funds were locked by exchanges because "user violated TOS" or "flagged for suspected blah blah blah" but funds were usually released once the user complied with KYC verification or some other proofs.