Bitcoins Legal status

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.

UAE: Legal

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.

Nepal: Illegal

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.

Croatia: Legal.

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.

Iceland: Legal.

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.

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