Is Bitcoin legal?

2019-11-15T18:35:38-08:00November 15th, 2019|Categories: |

To the best of our knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges. Regulators from various jurisdictions

Is Bitcoin useful for illegal activities?

2019-11-15T18:36:28-08:00November 15th, 2019|Categories: |

Bitcoin is money, and money has always been used both for legal and illegal purposes. Cash, credit cards and current banking systems widely surpass Bitcoin in terms of their use to finance crime. Bitcoin can bring significant innovation in payment systems and the benefits of such innovation are often

Can Bitcoin be regulated?

2019-11-15T18:36:57-08:00November 15th, 2019|Categories: |

The Bitcoin protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use. Attempting to assign special rights to a local authority in the rules of the global Bitcoin network is not a practical possibility. Any rich organization could choose to

What about Bitcoin and taxes?

2019-11-15T18:37:31-08:00November 15th, 2019|Categories: |

Bitcoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability

What about Bitcoin and consumer protection?

2019-11-15T18:37:59-08:00November 15th, 2019|Categories: |

Bitcoin is freeing people to transact on their own terms. Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a certain number

Is Bitcoin gambling legal?

2019-11-15T18:38:33-08:00November 15th, 2019|Categories: |

In general, gambling with Bitcoin is legal although this usually depends on the user's country or state of residence. It is always wise to consult with a local attorney and the official entities before gambling. There are currently more than 100 Bitcoin casinos and sportsbooks operating. Many hold a gambling license

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