Re: Using bitcoin for transactions in country where it is illegal.
It will not be advisable to make transactions in bitcoin within a country where cryptocurrency transactions are illegal by the law. But Imagine this scenario that someone has been using their bitcoins for transaction secretly successfully, and then one day decides to use the bitcoin that they have to make payment for something like a property to the owner of the property, If there is this kind of problem for instance where the owner of the property decides to claim that they did not receive any money in bitcoin, and the case is taken to a law court, what do you think the outcome of the case will be?
If proofs of payment are provided but in cryptocurrency, do you think the court will consider it even though transactions are tagged illegal with it? or will the case be thrown out and the owner of the property with the false claim of not receiving the money be allowed to go freely?
If proofs of payment are provided but in cryptocurrency, do you think the court will consider it even though transactions are tagged illegal with it? or will the case be thrown out and the owner of the property with the false claim of not receiving the money be allowed to go freely?
Although, it is NOT advisable to transact with crypto in a country where it is "illegal", the very nature of Blockchain (permissionless) allows anyone to access it at will. Laws/regulations can't be enforced on a decentralized network. Only on centralized exchanges and/or centralized wallet providers. What's stopping people from using crypto "under the radar"? Of course, expect to face fines or jail time if you're caught doing this. You'd need to decide whenever it's worth taking the risk or not.
I cannot tell whenever proof of payment on the Blockchain will be admissible in court or not. I'm not a lawyer, after all. My guess is that countries where crypto is "illegal", such thing will be outright rejected by the court. In countries where it is legal, this is still a regulatory "gray" area. It could or could not be admissible in court. With laws constantly changing, people would be better off using Fiat instead of crypto for day-to-day transactions. At least, that's what I think.
