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Legality and regulation of Bitcoin around the world

Dec 26, 2017 Admin Regulation
Australia Estonia South Korea Germany Argentina Nigeria USA China

Nobody gave Bitcoin the chance to become as phenomenal as it is today. During its nascent days, there were doomsday warnings of how the cryptocurrency is going to crash. Fast forward to the present, and Bitcoins fortune has changed. It is the hottest topic in the financial world and with Blockchain disrupting the industry.

Of course, with this buzz around Bitcoin, governments and regulators have to take a look. Hence, to some, it was scary, and they banned it, to others, it’s better to keep a close eye while allowing market forces to regulate it, while to others, it’s better to rein this charging digital currency through regulation.

So, in this article we’ll examine the regulations and rules concerning Bitcoin around the globe and how it is affecting countries where Bitcoin is legal and illegal.

Australia

A new regulation came into effect in July 1st 2017 that will see the government treat bitcoin as ‘just money’ and this will definitely place it among taxable catego...


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