Legal Bitcoin is not regulated as it is not considered to be electronic money according to the law. None of the exchanges presented or have claimed to receive any lawful paperwork.  Trading bitcoins by individuals is legal in China. The National Assembly of Ecuador banned bitcoins including other decentralized digital/crypto currencies, due to the establishment of a new state-run electronic money system. Legal The Bank of Jamaica (BoJ), the national Central Bank, has publicly declared that it must create opportunities for the exploitation of technologies including cryptocurrencies. Only Saudi Arabian Monetary Authority (sama) have warned from using it as it is high risk and recognized in Saudi Arabia and its dealers will not be guaranteed any protection or rights. Legal Finance minister Arun Jaitley, in his budget speech on 1 February 2018, stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. Illegal The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone in 2014. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems. It noted that Central bank cannot control or regulate bitcoin. In response to the parliament postulates, the Swiss Federal Council issued a report on virtual currencies in June 2014. A bitcoin may be considered either a good or a thing under the Argentina s Civil Code, and transactions with bitcoins may be governed by the rules for the sale of goods under the Civil Code. Any breach of this provision is punishable in accordance with the laws and regulations in force.
:Hong Kong On 16 November 2013, Norman Chan, the chief executive of Hong Kong Monetary Authority (HKMA) said that bitcoins is only a virtual commodity. The crackdown on bitcoin and other virtual currency traders was accompanied by Chinese media touting the dangers of virtual currency as a tool for criminal activities. In Zimbabwe, where currencies are notoriously volatile and hard to come by, bitcoin traded at $17,875 on Monday. In this context, NBS points out that virtual currencies have not a physical counterpart in the form of legal tender and participation in such a scheme (virtual currency) is at your own risk. Who is to say it doesn t reach $100,000. However, our existing laws (such as the Organised and Serious Crimes Ordinance) provide sanctions against unlawful acts involving bitcoins, such as fraud or money laundering. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well. :China On 5 December 2013, People s Bank of China (PBOC) made its first step in regulating bitcoin by prohibiting financial institutions from handling bitcoin transactions. He also decided that bitcoins will not be regulated by HKMA. Legal In December 2013, the Monetary Authority of Singapore reportedly stated that [w]hether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene. Legal A 26 March 2014 by Superintendencia Financiera de Colombia states that the use of bitcoin is not regulated. The NBP and KNF recognize that the purchase, possession and sale of virtual currencies by entities supervised by the KNF (e. Reuters reported Wednesday that the Nasdaq was planning on launching a bitcoin futures contract in the first half of 2018.
As of 25 May 2017 [update], the State Bank Of Pakistan does not recognise digital currencies. Treasury classified bitcoin as a convertible decentralized virtual currency in 2013. Legal As of March 2015, an official statement of the Romanian National Bank mentioned that using digital currencies as payment has certain risks for the financial system.Waves.. Accordingly, in 2017 the BoJ will be embarking on a campaign to build awareness of cryptocurrencies as part of increasing general financial literacy and understanding of cryptocurrencies.  The Authorite des Marches Financiers, the regulator in the province of Quebec, has declared that some bitcoin related business models including exchanges and ATMs are regulated under its current MSB Act. However, the authority will be closely watching the usage of bitcoins locally and its development overseas. According to Nikkei Asian Review, in February 2016, Japanese financial regulators have proposed handling virtual currencies as methods of payment equivalent to conventional currencies bitcoin atm in singapore. Likewise, various government agencies, departments, and courts have classified bitcoins differently bitcoin atm in singapore. Legal The government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems. As many seasoned traders know all too well, anything that rockets higher, tends to fall down faster when the time comes, and the time will come, James Hughes, chief market analyst at FX broker AxiTrader, said.  In a statement on the central bankâs website the PBOC said financial institutions and payment companies cannot give pricing in, buy and sell bitcoin or insure bitcoin-linked products. .Gnosis.