Cryptocurrency Legality In Your Country
This is a questions that I come across from new users from different countries whenever I have interacted with them on different platforms around cryptocurrencies. They are unsure about it. The fact is that a simple wiki link describes in good detail where cryptocurrency is legal or if it's not.
The general outlook on cryptocurrencies is quite positive in many nations including USA, Canada, many EU nations as well countries in the South America, South East Asia. However, it's not the same in India even though cryptos are not illegal here.
So far the government and it's agencies have been somewhat hostile in their approach. Infact a PIL was also filed around the time of the bull run to ban cryptocurrencies as well as seeking their legality.
Many developing countries today are opening up to the possibilities while many of the so called developed countries have some policy in place that allows this parallel digital economy to function and perhaps even flourish in some cases.
If you are keen to learn more about the legal aspect of cryptocurrencies you can start with the wikipedia link and then dive deeper to understand what the governments in your country are doing.
For governments to ban something like they need to figure out how they can enforce such a ban. Therefore, I'm not expecting anything as radical in India. However, i'm not sure about all other economies where the government is on the fence with this.
Feel free to share your thoughts about this from the perspective of your country's economy in the comments below.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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For a country that aims to displace Canada and enter the elite G7 club in the future (or maybe they can just add us and call it G8), we should have had a more open mind and a greater appetite regarding cryptocurrencies as well as all other future disruptive tech.
Sadly, neither open mindedness nor appetite seems to be on the horizon.
These two tweets by an observer today sums it all up perfectly!
Agreed.
No but it’s legalized in almost every heart found in my country. Legalizing it is just a matter of little time.
Posted using Partiko iOS
Here in Portugal everything is peaceful:
Wow,so cool!
children need to be protected from cryptocurrencies , as they loss track of time and spend lot of time looking at screens and behaving like gamblers
That is great for whatever reason cryptocurrency still has a bitter taste for some of the more not so great things it’s been used for in the early years. Once people realize just how wide spread and accepted it is it’s not so scary looking for the normie.
Supposedly down here in Florida (US) Seminole county will accept BTC for tax payment. Outside of a couple of news site I could not find anything more concreate on it that makes me go that must be true. I also don’t live in that county so I would not know. If it is I can only hope it goes well and it spreads to other places.
So many are fearful of taxation but that’s just the road things take as they march closer to mass adoption by an average person.
Resteemed as I think this is an awesome link/post that most people (including my self) won't/don't know about.