What are the countries that legalized Bitcoin?
Do you want Bitcoin to be legalized in your country? Do you think it’s more beneficial for the users to have Bitcoin legalized? Once Bitcoin is legalized, that means the government will have some parial authority over it depends on the government’s terms.
Is Bitcoin legalized in your country? Let’s find out below.
As most countries are favouring Bitcoin, others didn’t. They see it as an illegal currency.Among those countries were
1) Bolivia
The central Bank of Bolivia has prohibited the use of cryptocurrencies across the country.
2) China
They ban Bitcoin as means of Institution fees.The banks also ban it but individuals are free to use it
3) Iceland
They were practicing strict capital control which enable them in protecting the outflow of Icelandic currency from the country which lead to transactions in Bitcoin banned as a part of the country’s Foreign Exchange Act.
4) Ecuador
The government banned cryptocurrency in the country.Additionally, the nation has created its own Ecuador’s Sistema de Dinero Electrónico (electronic money system).
5) Vietnam
The authorities believe that this cryptocurrencies is not a legitimate payment method.
6) Kyrgyzstan
All Cryptos are illegal form of payment in this country
7) Taiwan
The authorities believe that Bitcoin is not a currency and thus should not be accepted by individuals or banking institutions.They ban Bitcoin ATM Installation
8) Russia
The legal adoption of Bitcoin is uncertain in Russia.
The Ministry of Finance is seeking to pass the law to ban the digital currency in the near future.
Jackobian
