Very sad to say that bitcoin trading is not legal in many countries. looking no chance due to its decentralized system. No Government will accept it because Government want full control over money which not found in btc.
in some countries maybe illegal but OP was wrong to say that no country has approved bitcoin when we have a lot of countries who are already accepting bitcoin and regulating it, Philippines is one of the countries that are bitcoin friendly, and I can attest to that as I'm living in this country.