Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?
But in this case there must be clarity. is it not legalized as a commodity asset or not legalized as a securities asset? or are residents prohibited from owning them? or is it not legalized as a legal means of payment?
I think we should be clear about this first. Because everyone has a different answer of course. However, even if a country does not legalize bitcoin as a commodity asset and security. So it doesn't mean that residents are prohibited from owning it. It's just that in that country there are certainly no regulations regarding this matter. But if the country already has clear regulations regarding the legality of bitcoin as a commodity asset or security. Or clear regulations on whether Bitcoin is prohibited from being used as a means of payment or even prohibited from being owned. So after the regulations have been clearly made. So we as citizens still have to comply.
I am lucky because in my country Crypto and Bitcoin are legal and legal as commodity assets. The regulations here are clear. Taxes and all related matters are also clear. But if in my country there are no clear regulations regarding bitcoin and crypto then I will still invest in bitcoin. But if there were clear regulations regarding whether crypto and bitcoin were prohibited or allowed then I might prefer to comply.