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Author: Admin | 2025-04-28
(Brunei Monetary Authority). It is also not protected under the laws administered by AMBD. Belgium It is legal to trade and hold bitcoin as well as other cryptocurrencies in Belgium. The National Bank of Belgium and the Financial Services and Markets Authority has warned citizens that digital currencies are not legal tender, and have warned against various risks associated with their use. Georgia Georgia has quickly emerged as a go-to jurisdiction for bitcoin miners due to an income tax exemption on any profit received from the sale of crypto currency and no legislative restrictions.The World Bank estimated in 2018 that at least 200,000 people in Georgia are involved in cryptocurrency mining Switzerland Bitcoin and cryptocurrencies are legal to hold and trade in Switzerland. Switzerland has very favorable and attractive regulatory framework. Zug, Switzerland has been dubbed "Crypto Valley" over the many blockchain-based companies drawn to the jurisdiction over its friendly crypto regulation.On March 2022, the city of Lugano, Switzerland announced plans to make bitcoin legal tender and allow citizens to pay for public service fees or taxes in bitcoin. Lebanon Despite warnings from the Lebanese Central Bank (BDL), Lebanese laws do not prohibit the ownership, use, and trade of Bitcoin or other cryptocurrencies. Israel As of 2017, the Israel Tax Authorities issued a statement saying that bitcoin and other cryptocurrencies would not fall under the legal definition of currency, and neither of that of a financial security, but of a taxable asset. Each time a bitcoin is sold, the seller would have to pay a capital gains tax of 25%. Miners, traders of bitcoins would be treated as businesses and would have to pay corporate income tax as well as charge a 17% VAT. Zimbabwe The Reserve Bank Of Zimbabwe is skeptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari, a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country. Poland Bitcoin and cryptocurrencies are legal to hold and trade in Poland. In November 2020, Polish authorities released the new PIT-38 (personal income tax) form making it easier for Polish residents to report their cryptocurrency taxes. Macedonia Macedonia is the only European country so far to have an official ban on cryptocurrencies like bitcoin. In 2014, Dimitar Bogov, Governor of National Bank of Macedonia stated, "In Macedonia, juridical means for cash and non-cash payments are denars. International
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