The Legal Status Of Cryptographic Currencies


The legal status of cryptographic currencies (in particular, of bitcoin, the first decentralized cryptocurrency) varies substantially from country to country as is expected. While some countries have explicitly allowed their use and trade making them effectively legal, others have banned or severely restricted it, making it hard or impossible in some cases to obtain or use the currency. Some countries that allow or tolerate cryptocurrencies have chosen to treat them as foreign currencies, sometimes with status of legal tender which will possibly be taxed as the years go by, while others have denied their currency status but consider them as a valuable property like gold and other precious metals. Many

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