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The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.
Governments of several countries use Bitcoin in various capacities, and some politicians use Bitcoin in their electoral programs. According to the Economist Intelligence Unit , in 2024 cryptocurrency has become a major political campaign topic for the first time, with cryptocurrency industry contributing nearly half of all corporate ...
According to Ernst & Young, the adoption of bitcoin as legal tender by El Salvador could have consequences for US taxpayers holding the cryptocurrency, because "If more countries adopt bitcoin as legal tender, the US federal income tax treatment of bitcoin could change. Instead of being treated as an investment that is a capital asset, bitcoin ...
Unlike El Salvador’s move this week to adopt bitcoin as legal tender, Ukraine’s crypto law does not put bitcoin on an equal footing with the hryvnia, the country’s national currency.
The legal status of cryptocurrencies varies substantially from country to country and is still undefined or changing in many of them. At least one study has shown that broad generalizations about the use of bitcoin in illicit finance are significantly overstated and that blockchain analysis is an effective crime fighting and intelligence ...
In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, mandating that businesses accept the leading cryptocurrency as a form of payment and rolling out a digital wallet ...
As for its legality, bitcoin is legal in many places, but it is illegal in several countries, including China, and more governments are considering making its use illegal. Is bitcoin safer than money?
None of the ATM's operators had successfully registered with the agency. The FCA cited a failure to comply with know your customer laws (KYC), which track and prevent money laundering, as well as the high risk to customers, due to a lack of regulation and protection. At the time, Coin ATM Radar listed 81 such ATMs in the country. [33] [34]