United Kingdom: Legal – unregulated and treat as foreign currency for tax purposes. Profits and losses from trading are subject to capital gains tax.
Canada: Legal – Some banks have banned crypto currency purchases on credit and debit cards.
United States: Legal – classified as a commodity.
Mexico: Legal – to be regulated as a virtual asset by the FinTec law.
Jamaica: Legal – Crypto currency awareness campaigns being ran by Bank of Jamaica.
Trinidad and Tobago: Legal.
Argentina: Legal- can be considered money but not legal tender. Transactions may be protected by the rules for sale of goods.
Bolivia: Illegal – Central Bank of Bolivia issued a resolution banning Bitcoin and any currency not regulated by a country or economic zone.
Brazil: Legal – unregulated and discouraged by Central Bank of Brazil.
Chile: Legal – not regulated
Columbia: Legal – not regulated
Ecuador: Illegal – The Ecuadorian government has banned Bitcoin and other crypto currencies.
Cyprus: Legal – not regulated
Kyrgyzstan: Legal – considered a commodity and not a security or currency. Use as a currency restricted within domestic settlements.
Isreal: Legal – not considered currency or security but it is a taxable asset.
Saudi Arabia: Legal – Bitcoin ATM located in the city of Jubail.
Jordan: Legal – discouraged by government. Central Bank of Jordan has banned crypto currency trading.
Lebanon: Legal – discouraged by government.
Turkey: Legal – not regulated as not considered electronic money.
Iran: Legal – unregulated, government discourages use until regulations are in place.
Bangladesh: Illegal – anybody found using crypto currencies could face jail under money laundering laws.
India: Legal – banned by India’s central bank.
Pakistan: Legal – completely banned by the State Bank of Pakistan.
China: Legal for private parties only including trading – banks and financial firms banned to trade in Bitcoin and other crypto currencies.
Hong Kong: Legal – considered a virtual commodity, use and development of crypto currencies being monitored by the governments monetary authority.
Japan: Legal – officially recognised as a method of payment but not considered legal tender.
South Korea: Legal – currently unregulated.
Taiwan: Legal – Bitcoin ATM’s are banned but Bitcoin can be bought over the counter at over 6000 convenience kiosks.
Cambodia: Legal – not regulated.
Indonesia: Legal to trade and hold – Illegal as a payment tool.
Malaysia: Legal – not regulated and not considered legal tender.
Philippines: Legal – cryptocurrency exchanges regulated by the central bank of the Philippines.
Singapore: Legal – unregulated.
Thailand: Legal – Possible banking restrictions, the government has stated that trading crypto currencies will not be banned.
Vietnam: Legal to trade and hold – Illegal as a payment tool.
Austria: Legal – not recognised as an official currency but earnings are taxable.
Czech Republic: Legal – classed as an intangible good (not electronic money).
Germany: Legal – not classified as foreign or electronic money but is considered “private money”.
Poland: Legal – unregulated.
Romania: Legal – unregulated, no taxation implied by authorities.
Slovakia: Legal – unregulated.
Slovenia: Legal – Bitcoin does not attract capital gains tax but mining and business accepting Bitcoin as payment will be taxed.
Switzerland: Legal – municipality of Zug accepts Bitcoin as payment for city fees. Swiss federal railways (government owned) sell Bitcoin at their ticket machines.
Ukraine: Legal – not regulated.
Denmark: Legal – Denmark’s financial authority has declared that they will not regulated Bitcoin as it is not considered currency.
Estonia: Legal – unregulated.
Finland: Legal – classified as a payment tool. Any gains are taxable but losses are not tax deductible. Mining Bitcoin is classed as taxable earning.
Lithuania: Legal – unregulated.
Norway: Legal – capital gains are liable to wealth tax and businesses accepting Bitcoin are subjected to sales tax. There is no VAT on the purchase or sale of Bitcoin.
Russia: Legal to hold – head of Russia Central Bank has announced they are agains regulating crypto currency. Russia’s finance minister has said using crypto currencies as a payment tool is “probably illegal”. The use of a currency surrogate is illegal in Russian Federation territory.
Sweden: Legal – considered currency for use as a payment tool. Crypto currency exchanges may need to apply for a licence to operate.
Bosnia: Legal – unregulated.
Bulgaria: Legal – there are currently no laws surrounding Bitcoin, profits from trading are taxable.
Greece: Legal – no legislation.
Italy: Legal – unregulated for private use.
Malta: Legal – country is promoting use of Bitcoin and blockchain technology.
Macedonia: Illegal – use could attract a fine or imprisonment. No foreign or crypto currency is legal as a payment tool. Use of virtual currencies discouraged by the central bank.
Portugal: Legal – no legislation.
Spain: Legal – Bitcoin transactions fall under barter transaction law.
Belgium: Legal – currently no legislation.
France: Legal – Bitcoin businesses and professionals are regulated and taxation is applicable.
Ireland: Legal – unregulated.
Luxembourg: Legal – Bitcoin businesses regulated and actively supported by the government.
Netherlands: Legal – not regulated.
Australia: Legal – Australia announced in 2017 that Bitcoin will be “treat just like money” and no longer subjected to double taxation.
New Zealand: Legal – not regulated.