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Author: Admin | 2025-04-28
United States of America The U.S. Treasury classified bitcoin as a convertible decentralized virtual currency in 2013. The Commodity Futures Trading Commission, CFTC, classified bitcoin as a commodity in September 2015. Per the Internal Revenue Service (IRS), bitcoin is taxed as a property. Japan Bitcoin and other cryptocurrencies are legal in Japan.Japanese regulators have historically taken a hands-off approach that has allowed Bitcoin and digital assets to prosper and evolve in the country. New Zealand Bitcoin and other cryptocurrencies are not regulated in New Zealand and are legal to trade and hold. As of current, there are no explicit legislation regulating cryptocurrencies in New Zealand, but contract and tax laws apply to cryptocurrency. India As of now, there is no explicit regulations or any bans on the use of Bitcoin or other cryptocurrencies in India. The Reserve Bank of India’s (RBI) previous ban from banks supporting cryptocurrency transactions, was reversed by the Supreme Court in March 2020. South Korea Bitcoin and other cryptocurrencies are legal to buy, sell, and trade in South Korea. France It is legal to trade and hold bitcoin as well as other cryptocurrencies in France. The French government policy is generally supportive of the development of cryptocurrency. China China's central bank announced in September 2021 that all buying, selling, transactions, and mining of Bitcoin and other cryptocurrencies are illegal. Portugal Portugal is known as a 'cryptocurrency tax haven', being one of the only jurisdictions in Europe with a 0% tax on income derived from bitcoin. Brazil Brazil has not enacted any regulations or legislation against cryptocurrencies, therefore they are legal to buy and sell. In 2020, Brazilian lawmakers proposed legislation that would regulate cryptocurrencies and provide for a series of laws governing business use of cryptocurrencies. Ecuador In 2018, The Central Bank of Ecuador has stated that the purchase and sale of cryptocurrencies such as bitcoin are not forbidden.The CBE also reiterated that bitcoin is not an authorized means of payment for use in the country. Australia Bitcoin and other cryptocurrencies are not regulated in Australia and are therefore legal to trade and hold. Australia is currently working on creating a licensing framework for cryptocurrency exchanges. Philippines Bitcoin and other cryptocurrencies are regulated and legal to hold and trade. However, the Bangko Sentral ng Pilipinas (BSP) have issued statements explaining possible risks associated with bitcoin trading and usage. Mexico Bitcoin was legal in Mexico as of
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