Legality of cryptocurrency by country or territory

|15px Legal

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The European Union has passed no specific legislation relative to the status of bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional (fiat) currency and bitcoin.

VAT/GST and other taxes (such as income tax) still apply to transactions made using bitcoins for goods and services. {{r|"regulation"|page=European Union}}

In October 2015, the Court of Justice of the European Union ruled that "The exchange of traditional currencies for units of the 'bitcoin' virtual currency is exempt from VAT" and that "Member States must exempt, inter alia, transactions relating to 'currency, bank notes and coins used as legal tender{{'"}}, making bitcoin a currency as opposed to being a commodity.{{cite web|title=The exchange of traditional currencies for units of the 'bitcoin' virtual currency is exempt from VAT|url=http://curia.europa.eu/jcms/upload/docs/application/pdf/2015-10/cp150128en.pdf|publisher=Court of Justice of the European Union|access-date=6 December 2016|archive-date=25 June 2019|archive-url=https://web.archive.org/web/20190625210711/https://curia.europa.eu/jcms/upload/docs/application/pdf/2015-10/cp150128en.pdf|url-status=live}}{{cite news|title=Bitcoin currency exchange not liable for VAT taxes: top EU court|url=https://www.reuters.com/article/us-bitcoin-tax-eu-idUSKCN0SG0X920151022|access-date=23 October 2015|work=Reuters|date=22 October 2015|archive-date=25 September 2021|archive-url=https://web.archive.org/web/20210925154949/https://www.reuters.com/article/us-bitcoin-tax-eu-idUSKCN0SG0X920151022|url-status=live}} According to judges, the tax should not be charged because bitcoins should be treated as a means of payment.{{cite news|last1=Bodoni|first1=Stephanie|last2=Thomson|first2=Amy|title=EU's Top Court Rules That Bitcoin Exchange Is Tax-Free|url=https://www.bloomberg.com/news/articles/2015-10-22/bitcoin-virtual-currency-exchange-is-tax-free-eu-court-says-ig21wzcd|access-date=23 October 2015|work=BloombergBusiness|agency=Bloomberg|date=22 October 2015|archive-date=14 November 2018|archive-url=https://web.archive.org/web/20181114224101/https://www.bloomberg.com/news/articles/2015-10-22/bitcoin-virtual-currency-exchange-is-tax-free-eu-court-says-ig21wzcd|url-status=live}}

According to the European Central Bank, traditional financial sector regulation is not applicable to bitcoin because it does not involve traditional financial actors.{{cite book|title=Virtual Currency Schemes|date=October 2012|publisher=European Central Bank|location=Frankfurt am Main|isbn=978-92-899-0862-7|url=http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf|author=European Central Bank|access-date=5 March 2014|archive-date=24 December 2013|archive-url=https://web.archive.org/web/20131224195207/http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf|url-status=live}}{{rp|5}} Others in the EU have stated, however, that existing rules can be extended to include bitcoin and bitcoin companies.{{r|"EUPARANNEX"}}

The European Central Bank classifies bitcoin as a convertible decentralized virtual currency.{{rp|6}} In July 2014 the European Banking Authority advised European banks not to deal in virtual currencies such as bitcoin until a regulatory regime was in place.{{cite web|title=EBA Opinion on 'virtual currencies'|url=http://www.eba.europa.eu/documents/10180/657547/EBA-Op-2014-08+Opinion+on+Virtual+Currencies.pdf|publisher=European Banking Authority|access-date=8 July 2014|pages=46|date=4 July 2014|archive-date=18 September 2019|archive-url=https://web.archive.org/web/20190918080431/https://eba.europa.eu/documents/10180/657547/EBA-Op-2014-08+Opinion+on+Virtual+Currencies.pdf|url-status=live}}

In 2016 the European Parliament's proposal to set up a taskforce to monitor virtual currencies to combat money laundering and terrorism, passed by 542 votes to 51, with 11 abstentions, has been sent to the European Commission for consideration.{{cite web|url=http://www.europarl.europa.eu/news/en/press-room/20160524IPR28821/meps-call-for-virtual-currency-watchdog-to-combat-money-laundering-and-terrorism|title=MEPs call for virtual currency watchdog to combat money laundering and terrorism - News - European Parliament|date=26 May 2016|website=Europarl.europa.eu|access-date=22 March 2019|archive-date=20 October 2021|archive-url=https://web.archive.org/web/20211020144345/https://www.europarl.europa.eu/news/en/press-room/20160524IPR28821/meps-call-for-virtual-currency-watchdog-to-combat-money-laundering-and-terrorism|url-status=live}}

In January 2022, Erik Thedéen, vice-chair of the European Securities and Markets Authority, called for an EU ban on proof of work crypto-mining to favor the proof of stake model and fight climate change.{{Cite news|url=https://www.ft.com/content/9e0baec5-8cdd-48cc-92c3-317f002dd186|title=FirstFT: EU should ban energy-intensive mode of crypto mining, regulator says|first1=Angelica|last1=Crisostomo|first2=Gordon|last2=Smith|first3=William|last3=Langley|newspaper=Financial Times|date=18 January 2022|access-date=28 January 2022|archive-date=28 January 2022|archive-url=https://web.archive.org/web/20220128144138/https://www.ft.com/content/9e0baec5-8cdd-48cc-92c3-317f002dd186|url-status=live}}

|15px Illegal

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According to the official journal (28 December 2017):

Art. 117. — The purchase, sale, use, and holding of so-called virtual currency is prohibited. Virtual currency is that used by internet users via the web. It is characterized by the absence of physical support such as coins, notes, payments by cheque or credit card. Any breach of this provision is punishable in accordance with the laws and regulations in force.{{cite web |url=https://www.joradp.dz/FTP/jo-francais/2017/F2017076.pdf |title=Journal Officiel de la Republique Algerienne Democratique et Populaire |access-date=3 January 2019 |archive-date=23 December 2021 |archive-url=https://web.archive.org/web/20211223235424/https://www.joradp.dz/FTP/jo-francais/2017/F2017076.pdf |url-status=live }}{{cite web |title=Regulation of Cryptocurrency Around the World |url=https://www.loc.gov/item/2021687419/ |website=Library of Congress |publisher=The Law Library of Congress, Global Legal Research Center |access-date=14 August 2018 |date=June 2018 |archive-date=16 December 2021 |archive-url=https://web.archive.org/web/20211216083958/https://www.loc.gov/item/2021687419/ |url-status=live }}{{rp|82}}

|15px Illegal

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"Individuals, banks, and other financial institutions are prohibited from dealing in cryptocurrencies."{{cite report|page=18|url=https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf|access-date=13 July 2024|title=Regulation of Cryptocurrency Around the World|date=November 2021|edition=Nov 2021 Update}}

|15px Illegal

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On 20 November 2017 the exchange office issued a public statement in which it declared, "The Office des Changes wishes to inform the general public that the transactions via virtual currencies constitute an infringement of the exchange regulations, liable to penalties and fines provided for by [existing laws] in force."{{r|RCAWJune2018LOC|page=87}}

The following day, the monetary authorities also reacted in a statement issued jointly by the Ministry of Economy and Finance, Bank Al-Maghrib and the Moroccan Capital Market Authority (AMMC), warning against risks associated with bitcoin, which may be used "for illicit or criminal purposes, including money laundering and terrorist financing".{{cite web |title=COMMUNIQUE DE PRESSE CONJOINT DU MINISTERE DE L'ECONOMIE ET DES FINANCES, DE BANK AL MAGHRIB ET DE L'AUTORITE MAROCAINE DU MARCHE DES CAPITAUX SUR L'USAGE DES MONNAIES VIRTUELLES |url=http://www.ammc.ma/sites/default/files/communique%20monnaies%20virtuelles%20FR_0.pdf |access-date=3 January 2019 |archive-date=16 May 2018 |archive-url=https://web.archive.org/web/20180516203841/http://www.ammc.ma/sites/default/files/communique%20monnaies%20virtuelles%20FR_0.pdf |url-status=dead }}

On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset". He also warned of its dangers and called for a framework to be put in place for consumer protection.{{cite web |title=Le digital, champ de bataille de Bank Al-Maghrib en 2018 |url=http://www.menara.ma/fr/actualit%C3%A9s/economie/2017/12/20/2333841-le-digital-champ-de-bataille-de-bank-al-maghrib-en-2018.html |access-date=3 January 2019 |archive-date=4 January 2019 |archive-url=https://web.archive.org/web/20190104074529/http://www.menara.ma/fr/actualit%C3%A9s/economie/2017/12/20/2333841-le-digital-champ-de-bataille-de-bank-al-maghrib-en-2018.html |url-status=live }}

|15px Legal / 15px Banking ban

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As of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria.{{cite web|url=https://www.legit.ng/1083244-central-bank-nigeria-bans-transaction-bitcoins-onecoin-others.html|title=They are not legal tenders in Nigeria - CBN bans bitcoin, onecoin, others|first=Adeola|last=Opeyemi|date=18 January 2017|website=Legit.ng|access-date=22 March 2019|archive-date=12 September 2017|archive-url=https://web.archive.org/web/20170912021520/https://www.naij.com/1083244-central-bank-nigeria-bans-transaction-bitcoins-onecoin-others.html|url-status=live}}

Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies – blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. ‘Dipo Fatokun.{{cite web|url=https://www.today.ng/technology/internet/nigeria-adopted-bitcoin-technology-cbn-2575|title=Why Nigeria has not adopted Bitcoin technology – CBN|first=Cassandra|last=Chuba|date=9 August 2017|website=Today.ng|access-date=22 March 2019|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018171949/https://www.today.ng/technology/internet/nigeria-adopted-bitcoin-technology-cbn-2575|url-status=live}}

On 5 February 2021, The Central Bank of Nigeria issued a circular informing financial institutions in Nigeria that sequel to their circular in January 2017, dealing in cryptocurrency or facilitating payment for same remains prohibited and would attract a stiff penalty.{{cite book |title=Letter to Banks on Crypto |date=5 February 2021 |publisher=Central Bank of Nigeria |url=https://www.cbn.gov.ng/Out/2021/CCD/Letter%20on%20Crypto.pdf |access-date=5 February 2021 |archive-date=22 October 2021 |archive-url=https://web.archive.org/web/20211022141052/https://www.cbn.gov.ng/out/2021/ccd/letter%20on%20crypto.pdf |url-status=live }}

|15px Legal / Use discouraged by central bank

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While not officially banned, the Bank of Tanzania advises not to use cryptocurrency, stressing that the Tanzanian shilling is the only acceptable legal tender.{{Cite web|last=Ndalu|first=Dorothy|date=18 November 2019|title=Tanzania: Bank of Tanzania Warns Against Crypto Currencies|url=https://allafrica.com/stories/201911180117.html|access-date=18 April 2021|website=allAfrica.com|language=en|archive-date=18 April 2021|archive-url=https://web.archive.org/web/20210418121622/https://allafrica.com/stories/201911180117.html|url-status=live}}{{cite press release |author= |title=PUBLIC NOTICEON CRYPTOCURRENCIES |url=https://www.bot.go.tz/Adverts/PressRelease/en/2020031307240424208.pdf |publisher=Bank of Tanzania |date=November 2019 |access-date=18 April 2021}}

|15px Legal

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On 22 April 2022 parliament of the Central African Republic voted for the cryptocurrency law which was promulgated on 27 April officially making Bitcoin a legal tender in the country.[https://www.rfi.fr/en/central-african-republic-adopts-bitcoin-as-legal-currency Central African Republic adopts bitcoin as legal currency] {{Webarchive|url=https://web.archive.org/web/20220427131507/https://www.rfi.fr/en/central-african-republic-adopts-bitcoin-as-legal-currency |date=27 April 2022 }}, 27 April 2022 In April 2023, the CAR agreed to repeal the adoption of Bitcoin as legal tender.{{Cite web |title=Frequently Asked Questions on Central African Republic |url=https://www.imf.org/en/Countries/CAF/central-african-republic-qandas |access-date=2023-08-11 |website=International Monetary Fund |language=en}}

|15px Legal

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The Financial Services Commission of Mauritius considers cryptocurrencies to be regulated as a Digital Asset under the Financial Services Act 2007, and while it cautions investors they are not protected by any statutory compensation agreements, they are legal.{{cite web |title=Recognition of Digital Assets as an asset-class for investment by Sophisticated and Expert Investors |url=https://www.fscmauritius.org/media/55003/guidance-note-on-the-recognition-of-digital-assets.pdf |publisher=Financial Services Commission (Mauritius) |date=17 September 2018 |access-date=8 January 2020 |archive-date=18 October 2021 |archive-url=https://web.archive.org/web/20211018173727/https://www.fscmauritius.org/media/55003/guidance-note-on-the-recognition-of-digital-assets.pdf |url-status=live }}

|15px Legal

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While government officials have advised against the use of bitcoin, there is no legislation against it and it remains fully legal.{{cite web |author1=Televisão Pública de Angola |title=BITCOINS - Especialistas desaconselham em Angola |url=https://www.youtube.com/watch?v=CxporKEMZY4 |website=TPA Online |date=13 September 2019 |publisher=YouTube |access-date=7 January 2020 |language=pt |archive-date=16 February 2022 |archive-url=https://web.archive.org/web/20220216214158/https://www.youtube.com/watch?v=CxporKEMZY4 |url-status=live }}

|15px Legal

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In December 2014 the Reserve Bank of South Africa issued a position paper on virtual currencies whereby it declared that virtual currency had "no legal status or regulatory framework".{{cite web|title=Position Paper on Virtual Currencies|url=http://www.resbank.co.za/RegulationAndSupervision/NationalPaymentSystem(NPS)/Legal/Documents/Position%20Paper/Virtual%20Currencies%20Position%20Paper%20%20Final_02of2014.pdf|website=South African Reserve Bank|access-date=3 September 2016|archive-date=22 December 2018|archive-url=https://web.archive.org/web/20181222114340/https://www.resbank.co.za/RegulationAndSupervision/NationalPaymentSystem(NPS)/Legal/Documents/Position%20Paper/Virtual%20Currencies%20Position%20Paper%20%20Final_02of2014.pdf|url-status=dead}} The South African Revenue Service classified bitcoin as an intangible asset.{{cite news|last1=Rangongo|first1=Timothy|title=Own bitcoin or ethereum? Sars is coming for you.|url=https://www.businessinsider.co.za/own-bitcoin-sars-is-coming-for-you-2018-4|access-date=22 May 2018|work=Business Insider|date=April 2018|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018174011/https://www.businessinsider.co.za/own-bitcoin-sars-is-coming-for-you-2018-4|url-status=dead}}

|15px Legal / 15px Banking ban

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In September 2017 the Bank of Namibia issued a position paper on virtual currencies entitled{{cite web|url=https://www.bon.com.na/CMSTemplates/Bon/Files/bon.com.na/c6/c6e59534-4bc8-4730-a091-eaffa172d2e9.pdf|title=Position on Distributed Ledger Technologies and Virtual Currencies in Namibia|website=Bank of Namibia|access-date=17 November 2017|archive-date=17 November 2017|archive-url=https://web.archive.org/web/20171117174632/https://www.bon.com.na/CMSTemplates/Bon/Files/bon.com.na/c6/c6e59534-4bc8-4730-a091-eaffa172d2e9.pdf|url-status=dead}} wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.

|15px Unknown

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The Reserve Bank Of Zimbabwe has banned the banking use of crypto currency, however the High Court Order lifted the ban. The Reserve Bank have filed a notice of

objection with the Court. However, no source indicating a resolution of the matter was located.

|15px Legal / 15px Banking ban

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Companies dealing in virtual currencies must register with the national financial intelligence agency Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), implement compliance programs, keep the required records, report suspicious or terrorist-related transactions, and determine if any of their customers are "politically exposed persons."

The law applies to non-Canadian virtual currency exchanges if they have Canadian customers. Banks may not open or maintain accounts or have a correspondent banking relationship with companies dealing in virtual currencies if that company is not registered with FINTRAC.

Dealers in digital currency are regulated as money services businesses.{{Cite web|url=http://www.fintrac-canafe.gc.ca/msb-esm/intro-eng.asp|title=Money services businesses (MSBs)|last=Canada|first=Financial Transactions and Reports Analysis Centre of|website=Fintrac-canafe.gc.ca|date=28 March 2017 |access-date=5 September 2017|archive-date=26 June 2019|archive-url=https://web.archive.org/web/20190626102105/http://www.fintrac-canafe.gc.ca/msb-esm/intro-eng.asp|url-status=live}}

The Autorité des marchés financiers (AMF), the financial 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.{{Cite web|url=https://lautorite.qc.ca/en/general-public/media-centre/news/fiche-dactualites/virtual-currency-atms-and-trading-platforms-must-be-authorized/|title=Virtual currency ATMs and trading platforms must be authorized|last=financiers|first=L'Autorité des marchés|website=Autorité des marchés financiers|access-date=5 September 2017|archive-date=9 December 2018|archive-url=https://web.archive.org/web/20181209110037/https://lautorite.qc.ca/en/general-public/media-centre/news/fiche-dactualites/virtual-currency-atms-and-trading-platforms-must-be-authorized/|url-status=dead}}

As of April 2018, the Bank of Montreal (BMO) announced that it would ban its credit and debit card customers from participating in cryptocurrency purchases with their cards.{{cite web|url=https://www.investopedia.com/news/canada-banks-ban-users-buying-cryptocurrency/|title=Canada Banks Ban Users From Buying Cryptocurrency|first=Nathan|last=Reiff|website=Investopedia|access-date=22 March 2019|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018175710/https://www.investopedia.com/news/canada-banks-ban-users-buying-cryptocurrency/|url-status=live}} This is following another banking ban in Canada from Toronto-Dominion Bank (TD).{{cite web|url=https://www.cbc.ca/news/business/td-banks-bitcoin-1.4549697|title=TD Bank stops allowing use of credit cards to buy cryptocurrencies|website=Cbc.ca|access-date=22 March 2019|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018175710/https://www.cbc.ca/news/business/td-banks-bitcoin-1.4549697|url-status=live}}

|15px Legal

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The U.S. Treasury classified bitcoin as a convertible decentralized virtual currency in 2013.{{cite web|url=https://www.fincen.gov/news/testimony/statement-jennifer-shasky-calvery-director-financial-crimes-enforcement-network|title=Statement of Jennifer Shasky Calvery, Director Financial Crimes Enforcement Network United States Department of the Treasury Before the United States Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on National Security and International Trade and Finance Subcommittee on Economic Policy|date=19 November 2013|work=fincen.gov|publisher=Financial Crimes Enforcement Network|access-date=1 June 2014|archive-date=9 July 2019|archive-url=https://web.archive.org/web/20190709175503/https://www.fincen.gov/news/testimony/statement-jennifer-shasky-calvery-director-financial-crimes-enforcement-network|url-status=live}}

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.{{Cite web|url=https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance|title=IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply|website=Irs.gov|access-date=22 April 2017|archive-date=22 August 2017|archive-url=https://web.archive.org/web/20170822150011/https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance|url-status=live}}

Bitcoin was mentioned in a U.S. Supreme Court opinion (in the case of Wisconsin Central Ltd. v. United States) on 21 June 2018.{{Cite news|url=https://www.businessinsider.com.au/the-us-supreme-court-just-spoke-about-a-bitcoin-future-for-the-first-time-2018-6|title=The US Supreme Court just spoke about a bitcoin future for the first time|last=Farquhar|first=Peter|date=22 June 2018|access-date=22 June 2018|archive-url=https://web.archive.org/web/20180622030505/https://www.businessinsider.com.au/the-us-supreme-court-just-spoke-about-a-bitcoin-future-for-the-first-time-2018-6|archive-date=22 June 2018|url-status=dead |quote= "Does a stock option received by an employee (along with, say, a paycheck) count as a 'form'—some form, 'any form'—of 'money remuneration?' The railroads, as the majority notes, believe they can find the answer to this question by engaging in (and winning) a war of 1930's dictionaries. I am less sanguine. True, some of those dictionaries say that 'money' primarily refers to currency or promissory documents used as 'a medium of exchange.' See ante, at 2–3. But even this definition has its ambiguities. A railroad employee cannot use her paycheck as a 'medium of exchange.' She cannot hand it over to a cashier at the grocery store; she must first deposit it. The same is true of stock, which must be converted into cash and deposited in the employee's account before she can enjoy its monetary value. Moreover, what we view as money has changed over time. Cowrie shells once were such a medium but no longer are, see J. Weatherford, The History of Money 24 (1997); our currency originally included gold coins and bullion, but, after 1934, gold could not be used as a medium of exchange, see Gold Reserve Act of 1934, ch. 6, §2, 48 Stat. 337; perhaps one day employees will be paid in Bitcoin or some other type of cryptocurrency,..."}} In an opinion, the U.S. Supreme Court mentioned that the definition of money has changed over time and that "perhaps one day employees will be paid in Bitcoin or some other type of cryptocurrency..."

If money services businesses, including cryptocurrency exchanges, money transmitters, and anonymizing services (known as "mixers" or "tumblers") do a substantial amount of business in the U.S., according to Financial Crimes Enforcement Network (FinCEN) director Kenneth Blanco in 2018, they are required to:

• register with the U.S. FinCEN as a money services business
• design and enforce an anti-money laundering (AML) program, and
• keep appropriate records and make reports to FinCEN, including Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs)

{{asof|2018|08}}, U.S. FinCEN had been receiving more than 1,500 SARs per month involving cryptocurrencies.{{cite web |title=Prepared Remarks of FinCEN Director Kenneth A. Blanco, delivered at the 2018 Chicago-Kent Block (Legal) Tech Conference |url=https://www.fincen.gov/news/speeches/prepared-remarks-fincen-director-kenneth-blanco-delivered-2018-chicago-kent-block |website=Fincen.gov |publisher=U.S. Department of the Treasury |access-date=13 August 2018 |date=9 August 2018 |archive-date=15 October 2021 |archive-url=https://web.archive.org/web/20211015152423/https://www.fincen.gov/news/speeches/prepared-remarks-fincen-director-kenneth-blanco-delivered-2018-chicago-kent-block |url-status=live }}

Seventeen other countries have similar AML requirements.

In September 2016, in a federal court case involving a person operating an unlicensed money transmitting businesses, the U.S. District Court for the Southern District of New York ruled that "Bitcoins are funds within the plain meaning of that term. Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment."{{cite web |url= https://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE |title= Bitcoin is money, U.S. judge says in case tied to JPMorgan hack |date= 20 September 2016 |access-date= 22 March 2019 |work= Reuters |archive-date= 22 June 2018 |archive-url= https://web.archive.org/web/20180622111506/https://www.reuters.com/article/us-jpmorgan-cyber-bitcoin-idUSKCN11P2DE |url-status= live }}

|15px Legal

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Bitcoin was legal in Mexico as of 2017, with plans to regulate it as a virtual asset by the FinTech Law.{{cite web|url=https://www.elfinanciero.com.mx/mercados/regulacion-sobre-bitcoin-avanza-con-ley-fintech.html|title=Regulación sobre bitcoin avanza con Ley Fintech|website=Elfinanciero.com.mx|date=4 April 2017 |access-date=22 March 2019|archive-date=8 March 2021|archive-url=https://web.archive.org/web/20210308035231/https://www.elfinanciero.com.mx/mercados/regulacion-sobre-bitcoin-avanza-con-ley-fintech.html|url-status=live}}

|15px Not considered currency

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In October 2017, the Central Bank of Costa Rica issued a statement that Bitcoin and cryptocurrencies are not considered currencies, are not backed by law, and cannot be traded on Costa Rica's national payment system. The Central Bank emphasized that anyone who used cryptocurrency did so at their own risk.{{cite web|url=https://www.bccr.fi.cr/noticias/noticias-del-a%C3%B1o-2017|title=Posición del Banco Central de Costa Rica (BCCR) y sus Órganos de Desconcentración Máxima (ODM) con respecto a las criptomonedas|publisher=Banco Central de Costa Rica|date=9 October 2017|access-date=15 January 2022|archive-date=25 May 2022|archive-url=https://web.archive.org/web/20220525103412/https://www.bccr.fi.cr/noticias/noticias-del-a%C3%B1o-2017|url-status=live}}

|15px Legal

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{{main|Bitcoin in El Salvador}}

Bitcoin was made legal tender in the country through the Bitcoin Law, which was passed on 8 June 2021,[https://www.asamblea.gob.sv/node/11282 El Salvador, primer país del mundo en reconocer al Bitcoin como moneda de curso legal] {{Webarchive|url=https://web.archive.org/web/20211222071910/https://www.asamblea.gob.sv/node/11282 |date=22 December 2021 }}, 9 June 2021, official website of the Legislative Assembly of El Salvador{{cite news|title=Diputados oficialistas aprueban el Bitcoin como moneda de curso legal, ¿en qué consiste?|url=https://www.elsalvador.com/noticias/nacional/oficialismo-aprobar-bitcoin-moneda-legal-el-salvador/846796/2021/|work=El Salvador|date=8 June 2021|access-date=9 June 2021|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018183800/https://www.elsalvador.com/noticias/nacional/oficialismo-aprobar-bitcoin-moneda-legal-el-salvador/846796/2021/|url-status=live}} and took effect on 7 September 2021.{{cite web|url=https://www.wsj.com/articles/bitcoin-comes-to-el-salvador-first-country-to-adopt-crypto-as-national-currency-11631005200|title=El Salvador Becomes First Country to Adopt Bitcoin as National Currency|website=The Wall Street Journal|date=7 September 2021|access-date=7 September 2021|archive-date=7 September 2021|archive-url=https://web.archive.org/web/20210907233833/https://www.wsj.com/articles/bitcoin-comes-to-el-salvador-first-country-to-adopt-crypto-as-national-currency-11631005200|url-status=live}}{{cite web|url=https://www.cnbc.com/2021/09/07/el-salvador-buys-400-bitcoin-ahead-of-law-making-it-legal-currency.html|title=El Salvador bought $21 million of bitcoin as it becomes first country to make it a legal currency|publisher=CNBC|date=7 September 2021|access-date=7 September 2021|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018183758/https://www.cnbc.com/2021/09/07/el-salvador-buys-400-bitcoin-ahead-of-law-making-it-legal-currency.html|url-status=live}}

During the first month, the Salvadoran Foundation for Economic and Social Development reported that 12 percent of Salvadoran consumers have used the cryptocurrency, however, 93 percent of companies surveyed reported receiving no payments in bitcoin.{{cite news |title=Bitcoin use in El Salvador grows amid setbacks since its adoption as legal tender |url=https://www.nbcnews.com/news/latino/bitcoin-use-el-salvador-grows-setbacks-adopting-legal-tender-rcna2743 |work=NBC News |date=7 October 2021 |access-date=12 October 2021 |archive-date=18 October 2021 |archive-url=https://web.archive.org/web/20211018183758/https://www.nbcnews.com/news/latino/bitcoin-use-el-salvador-grows-setbacks-adopting-legal-tender-rcna2743 |url-status=live }}

|15px Not regulated as of 2014

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As of 2014, the government had not passed any regulation on Bitcoin, nor had the central bank issued rulings or guidelines. In January 2014, El Nuevo Diario reported that an American banker had used bitcoin to purchase real estate in the country. {{r|"regulation"|page=Nicaragua}}

|15px Legal

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In 2017, The Bank of Jamaica (BoJ), issued a statement saying that it must create opportunities for the exploitation of cryptocurrency technology. The BoJ said it planned a campaign to build awareness of cryptocurrencies as part of increasing general financial literacy.{{cite web |url=http://jis.gov.jm/boj-building-awareness-cryptocurrency/ |title=Bank of Jamaica building awareness of cryptocurrencies |publisher=Jamaica Information Service |access-date=9 October 2017 |archive-date=24 May 2022 |archive-url=https://web.archive.org/web/20220524122920/https://jis.gov.jm/boj-building-awareness-cryptocurrency/ |url-status=live }}{{cite web |url=http://www.boj.org.jm/uploads/news/application_form_for_authorization_-_electronic_retail_payment_service_provider_march_2013.pdf |title=Bank of Jamaica Electronic Retail Payments Service |publisher=Bank of Jamaica |access-date=10 October 2017 |archive-date=12 March 2016 |archive-url=https://web.archive.org/web/20160312113635/http://www.boj.org.jm/uploads/news/application_form_for_authorization_-_electronic_retail_payment_service_provider_march_2013.pdf |url-status=live }}{{r|"regulation"|page=Jamaica}}

|15px Legal

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In 2018, the Central Bank of Trinidad and Tobago issued a statement that it was willing to work with companies that provided Fintech and virtual currencies, while also cautioning that virtual currencies were risky, could be used to facilitate criminal activities, and lacked insurance and regulator recourse in case of problems.{{Cite web|url=https://www.central-bank.org.tt/sites/default/files/page-file-uploads/5a-cb-statement-on-financial-technology-and-vrtual-currencies.PDF|title=Central Bank of Trinidad and Tobago Statement on Financial Technology and Virtual Currencies|date=15 November 2018|access-date=8 June 2020|website=central-bank.org.tt|publisher=Central Bank of Trinidad & Tobago|archive-date=8 March 2021|archive-url=https://web.archive.org/web/20210308074018/https://www.central-bank.org.tt/sites/default/files/page-file-uploads/5a-cb-statement-on-financial-technology-and-vrtual-currencies.PDF|url-status=live}}

|15px Legal / 15px Banking ban

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Bitcoins may be considered money, but not legal currency. 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.{{r|"regulation"|page=Argentina}} On May 5, 2022, the Central Bank of Argentina banned financial institutions to facilitate any cryptocurrency-related transactions.{{Cite web |date=2022-05-05 |title=El BCRA le prohibió a los bancos ofrecer criptomonedas a sus clientes |url=https://www.lanacion.com.ar/economia/el-bcra-les-prohibio-a-los-bancos-ofrecer-criptomonedas-a-sus-clientes-nid05052022/ |access-date=2022-05-06 |website=LA NACION |language=es |archive-date=10 November 2022 |archive-url=https://web.archive.org/web/20221110020802/https://www.lanacion.com.ar/economia/el-bcra-les-prohibio-a-los-bancos-ofrecer-criptomonedas-a-sus-clientes-nid05052022/ |url-status=live }}

|15px Legal / 15px Banking ban

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The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone in 2014.{{cite web | url=http://www.ibtimes.co.uk/cryptocurrency-round-bolivian-bitcoin-ban-ios-apps-dogecoin-mcdonalds-1453453 | title=Cryptocurrency Round-Up: Bolivian Bitcoin Ban, iOS Apps & Dogecoin at McDonald's | publisher=International Business Times | work=ibtimes.co.uk | date=20 June 2014 | access-date=23 February 2015 | author=Cuthbertson, Anthony | archive-date=24 September 2015 | archive-url=https://web.archive.org/web/20150924050741/http://www.ibtimes.co.uk/cryptocurrency-round-bolivian-bitcoin-ban-ios-apps-dogecoin-mcdonalds-1453453 | url-status=live }} Resolution of the Central Bank of Bolivia No. 144 of Dec. 15, 2020 repealed Resolution No. 044 of May 6, 2014.{{cn|date=April 2024}}

|15px Legal

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In December 2022, Brazil established a licensing regime for virtual asset service providers with the aim of legalizing crypto as a payment method. Previously regulated, according to a 2014 statement by the Central Bank of Brazil concerning cryptocurrencies, but is discouraged because of operational risks.{{Cite web|url=https://www3.bcb.gov.br/normativo/detalharNormativo.do?method=detalharNormativo&N=114009277|title=COMUNICADO Nº 25.306, DE 19 DE FEVEREIRO DE 2014|date=19 February 2014|publisher=Banco Central do Brasil|access-date=11 September 2016|archive-date=27 April 2019|archive-url=https://web.archive.org/web/20190427001220/https://www3.bcb.gov.br/normativo/detalharNormativo.do?method=detalharNormativo&N=114009277|url-status=live}} In November 2017 this unregulated and discouraged status was reiterated by the Central Bank of Brazil.{{Cite web|url=http://www.bcb.gov.br/pre/normativos/busca/normativo.asp?numero=31379&tipo=Comunicado&data=16/11/2017|title=Comunicado nº 31.379, de 16/11/2017|website=Bcb.gov.br|language=pt-br|access-date=17 November 2017|archive-date=26 July 2018|archive-url=https://web.archive.org/web/20180726231905/http://www.bcb.gov.br/pre/normativos/busca/normativo.asp?numero=31379&tipo=Comunicado&data=16/11/2017|url-status=live}} On 7 May 2019, the Special Department of Federal Revenue of Brazil published a document on cryptocurrency taxes in the country.{{Cite web|url=http://normas.receita.fazenda.gov.br/sijut2consulta/link.action?visao=anotado&idAto=100592|title=INSTRUÇÃO NORMATIVA RFB Nº 1888, DE 03 DE MAIO DE 2019|date=3 May 2019|access-date=4 March 2021|publisher=Receita Federal de Brasil|archive-date=30 November 2020|archive-url=https://web.archive.org/web/20201130170504/http://normas.receita.fazenda.gov.br/sijut2consulta/link.action?visao=anotado&idAto=100592|url-status=live}}

|15px Legal

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There is no regulation on the use of bitcoins.{{r|"regulation"|page=Chile}}

|15px Legal / 15px Banking ban

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Financial institutions are not allowed to facilitate bitcoin transactions.

The Superintendencia Financiera warned financial institutions in 2014 that they may not "protect, invest, broker, or manage virtual money operations".

|15px Legal to trade and hold / 15px Illegal as a payment tool, banking ban

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Usage of any cryptocurrency as a payment tool is banned, according to Article 98 of the Organic Code on Monetary and Financial Matters, with sanctions that includes the seizure of cryptocurrencies and any product acquired with them.{{Cite web|title=Regulation of Cryptocurrency Around the World: November 2021 Update|url=https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf|website=Law Library of Congress|access-date=26 December 2021|archive-date=24 December 2021|archive-url=https://web.archive.org/web/20211224043203/https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf|url-status=live}} As of December 25, 2021, no person has been criminally prosecuted for this reason. The Ecuadorian financial system strictly blocks any cryptocurrency-related transaction. Despite this, on January 8, 2018, according to a statement issued by the Central Bank of Ecuador, the purchase and sale of bitcoins is legal.{{Cite web|title=COMUNICADO OFICIAL SOBRE EL USO DEL BITCOIN|url=https://www.bce.fin.ec/index.php/boletines-de-prensa-archivo/item/1028-comunicado-oficial-sobre-el-uso-del-bitcoin|access-date=7 February 2021|website=www.bce.fin.ec|archive-date=3 February 2021|archive-url=https://web.archive.org/web/20210203221632/https://www.bce.fin.ec/index.php/boletines-de-prensa-archivo/item/1028-comunicado-oficial-sobre-el-uso-del-bitcoin|url-status=live}}

|15px Legal to hold / 15px Illegal to mine

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In January 2018 Carlos Vargas, the government's cryptocurrency superintendent said "It is an activity that is now perfectly legal. We have had meetings with the Supreme Court so that people who have been victims of seizures and arrests in previous years will have charges dismissed."{{Cite news|url=https://www.crypto-economy.net/en/venezuelan-government-announces-new-monetary-cone-pegged-to-petro/|title=Venezuelan government announces new monetary cone pegged to Petro|last=Teodoro|first=Carlos|date=27 July 2018|work=Crypto Economy|access-date=27 July 2018|archive-date=8 October 2018|archive-url=https://web.archive.org/web/20181008142018/https://www.crypto-economy.net/en/venezuelan-government-announces-new-monetary-cone-pegged-to-petro/|url-status=live}}{{unreliable source|date=October 2023}} In March 2023, regulators issued a temporary ban on all cryptocurrency mining, due to concerns over corruption and embezzlement. As of June the ban remained in place.{{cite news |last1=Yapur |first1=Nicolle |last2=Itriago Acosta |first2=Andreina |title=Venezuela's Ban on Crypto Mining Is Ruining the Industry It Once Embraced |url=https://www.bloomberg.com/news/articles/2023-06-21/venezuela-once-embraced-crypto-now-it-s-banned-crypto-mining-trading-petro |access-date=15 October 2023 |work=Bloomberg.com |date=21 June 2023 |archive-url=https://archive.today/20230622015054/https://www.bloomberg.com/news/articles/2023-06-21/venezuela-once-embraced-crypto-now-it-s-banned-crypto-mining-trading-petro |archive-date=22 June 2023 |language=en}}

|15px Illegal

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In August 2022 Taliban banned trading in cryptocurrencies.[https://www.bloomberg.com/news/articles/2022-08-26/taliban-ban-crypto-in-afghanistan-arrest-digital-coin-dealers Taliban Ban Crypto in Afghanistan, Arrest Dealers of Tokens] {{Webarchive|url=https://web.archive.org/web/20230701120648/https://www.bloomberg.com/news/articles/2022-08-26/taliban-ban-crypto-in-afghanistan-arrest-digital-coin-dealers |date=1 July 2023 }}, 26 August 2022

|15px Legal

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Bitcoin is considered a commodity,{{cite web | url=http://en.kyrgyzbusiness.com/blockchain-en/ | title=Kyrgyzstan and Crypto Business | publisher=International Finance Centre Development Agency | work=en.kyrgyzbusiness.com | date=2018 | access-date=4 April 2018 | archive-date=4 April 2018 | archive-url=https://web.archive.org/web/20180404135339/http://en.kyrgyzbusiness.com/blockchain-en/ | url-status=live }} not a security or currency under the laws of the Kyrgyz Republic and may be legally mined, bought, sold and traded on a local commodity exchange.{{cite web | url=https://akipress.com/news:604488/ | title=New report on Legal Status of Blockchain Commerce in the Kyrgyz Republic released | publisher=AKIpress News Agency | work=akipress.com | date=2018 | access-date=4 April 2018 | archive-date=4 April 2018 | archive-url=https://web.archive.org/web/20180404201039/https://akipress.com/news:604488/ | url-status=live }} The use of bitcoin as a currency in domestic settlements is restricted.{{cite web | url=http://www.nbkr.kg/searchout.jsp?item=31&material=50718&lang=ENG | title=Warning of the National Bank of the Kyrgyz Republic on the spread and use of the "virtual currency", in particular, bitcoins (bitcoin) | publisher=National Bank of the Kyrgyz Republic | work=nbkr.kg | date=18 July 2014 | access-date=23 February 2015 | archive-date=22 February 2015 | archive-url=https://web.archive.org/web/20150222230016/http://www.nbkr.kg/searchout.jsp?item=31&material=50718&lang=ENG | url-status=live }}

|15px Legal

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On 2 September 2018, a decree legalizing crypto trading — also making it tax-free — and mining in the country came into force, making Uzbekistan a crypto-friendly state.{{Cite web|url=https://static.norma.uz/official_texts/%D0%9E%20%D0%BC%D0%B5%D1%80%D0%B0%D1%85%20%D0%BF%D0%BE%20%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D0%B8%20%D0%B4%D0%B5%D1%8F%D1%82%D0%B5%D0%BB%D1%8C%D0%BD%D0%BE%D1%81%D1%82%D0%B8%20%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE-%D0%B1%D0%B8%D1%80%D0%B6%20%D0%B2%20%D0%A0%D0%B5%D1%81%D0%BF%D1%83%D0%B1%D0%BB%D0%B8%D0%BA%D0%B5%20%D0%A3%D0%B7%D0%B1%D0%B5%D0%BA%D0%B8%D1%81%D1%82%D0%B0%D0%BD.pdf|title=decree "On measures to organize the activities of crypto-exchanges in Uzbekistan", № ПП-3926 from September 2nd 2018|website=Static.nora.uz|access-date=15 September 2018|archive-date=15 September 2018|archive-url=https://web.archive.org/web/20180915225931/https://static.norma.uz/official_texts/%D0%9E%20%D0%BC%D0%B5%D1%80%D0%B0%D1%85%20%D0%BF%D0%BE%20%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D0%B8%20%D0%B4%D0%B5%D1%8F%D1%82%D0%B5%D0%BB%D1%8C%D0%BD%D0%BE%D1%81%D1%82%D0%B8%20%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE-%D0%B1%D0%B8%D1%80%D0%B6%20%D0%B2%20%D0%A0%D0%B5%D1%81%D0%BF%D1%83%D0%B1%D0%BB%D0%B8%D0%BA%D0%B5%20%D0%A3%D0%B7%D0%B1%D0%B5%D0%BA%D0%B8%D1%81%D1%82%D0%B0%D0%BD.pdf|url-status=live}}

|15px Legal / 15px Banking ban

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According to the Library of Congress "The Central Bank does not recognize cryptocurrencies as a form of payment yet. However, it is working on a new regulation for retail payment services that introduces the concept of tokens that could be used for payment purposes."{{cite web |title=Regulation of Cryptocurrency Around the World |url=https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf |website=Library of Congress |publisher=The Law Library of Congress, Global Legal Research Center |access-date=9 February 2022 |date=November 2021 |archive-date=30 January 2022 |archive-url=https://web.archive.org/web/20220130224349/https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf |url-status=live }}

On 13 February 2018 Dubai gold trader Regal RA DMCC became the first company in the Middle East to get a license to trade cryptocurrencies, the Dubai Multi Commodities Centre said.{{cite news|last1=Carpenter|first1=Claudia|title=Journalist|url=https://www.bloomberg.com/news/articles/2018-02-12/dubai-trader-gets-first-middle-east-license-in-cryptocurrencies|website=Bloomberg.com|date=12 February 2018|access-date=13 February 2018|archive-date=13 February 2018|archive-url=https://web.archive.org/web/20180213004333/https://www.bloomberg.com/news/articles/2018-02-12/dubai-trader-gets-first-middle-east-license-in-cryptocurrencies|url-status=live}} DMCC's website emphasizes the "cold storage" of cryptocurrencies and states "DMCC's Crypto-commodities license is for Proprietary Trading in Crypto-commodities only.

No initial coin offerings are permitted and no establishment of an exchange is permitted under this license."{{cite web |title=World's First Deep Cold Storage for Crypto-Commodities Launched by Regal Assets in Dubai |url=https://www.dmcc.ae/news/worlds-first-deep-cold-storage-crypto-commodities-launched-regal-assets-dubai |website=Dmcc.ae |access-date=14 August 2018 |date=13 February 2018 |archive-date=14 August 2018 |archive-url=https://web.archive.org/web/20180814071623/https://www.dmcc.ae/news/worlds-first-deep-cold-storage-crypto-commodities-launched-regal-assets-dubai |url-status=live }}

In November 2020, the Securities and Commodities Authority published "The Chairman of the Authority's Board of Directors' Decision No. (23/Chairman) of 2020 Concerning Crypto Assets Activities Regulation." It establishes a regulatory framework for the offering, issuance, listing, and trading of crypto assets. Crypto assets providers must be incorporated onshore within the UAE.{{Cite web|url=https://www.keystonelaw.com/me/keynotes/uae-announces-new-regulations-for-licensing-crypto-assets/|title=UAE announces new regulations for licensing crypto assets|website=Keystone Law Dubai|access-date=16 April 2021|archive-date=16 April 2021|archive-url=https://web.archive.org/web/20210416082856/https://www.keystonelaw.com/me/keynotes/uae-announces-new-regulations-for-licensing-crypto-assets/|url-status=live}}{{Cite web|url=https://www.sca.gov.ae/Content/Userfiles/Assets/Documents/f79fbf6.pdf|title=Regulation in Arabic|access-date=16 April 2021|archive-date=21 January 2021|archive-url=https://web.archive.org/web/20210121071215/https://www.sca.gov.ae/Content/Userfiles/Assets/Documents/f79fbf6.pdf|url-status=live}}{{Cite web|url=https://www.sca.gov.ae/Content/Userfiles/Assets/Documents/8004151b.pdf|title=Regulation in English|access-date=16 April 2021|archive-date=28 November 2020|archive-url=https://web.archive.org/web/20201128171301/https://www.sca.gov.ae/Content/Userfiles/Assets/Documents/8004151b.pdf|url-status=live}}{{Cite web|url=https://www.sca.gov.ae/en/media-center/news/29/3/2021/mou-between-dmcc-and-sca.aspx|title=MoU signed between SCA and DMCC | News | Media Center | Securities and Commodities Authority|access-date=16 April 2021|archive-date=25 July 2021|archive-url=https://web.archive.org/web/20210725003358/https://www.sca.gov.ae/en/media-center/news/29/3/2021/mou-between-dmcc-and-sca.aspx|url-status=live}}

|15px Not considered currency

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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.{{Cite web|url=http://www.lawfirmwolf.com/bitcoin-israel-law|title=Bitcoin Israel - Q & A {{!}} Dave Wolf & Co. Law Offices|website=Lawfirmwolf.com|access-date=6 July 2017|archive-date=25 August 2018|archive-url=https://web.archive.org/web/20180825143159/http://www.lawfirmwolf.com/bitcoin-israel-law|url-status=live}} 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.{{Cite web|url=https://taxes.gov.il/incometax/documents/hozrim/hoz_x_2017_tyota.pdf|title=Taxation of Cryptocurrency|last=Israeli Tax Authorities|date=2017|website=Taxes.gov.il|access-date=21 August 2017|archive-date=24 June 2019|archive-url=https://web.archive.org/web/20190624133358/https://taxes.gov.il/incometax/documents/hozrim/hoz_x_2017_tyota.pdf|url-status=live}}

|15px Legal / 15px Banking ban

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Financial institutions are warned from using bitcoin.

The Saudi Central Bank (SAMA) has warned from using bitcoin as it is high risk and its dealers will not be guaranteed any protection or rights.{{Cite web |date=2017-07-04 |title=تعرف على خطر عملة "بيتكوين" ولماذا منعتها السعودية |url=https://www.alarabiya.net/aswaq/economy/2017/07/04/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AD%D8%B0%D8%B1-%D9%85%D9%86-%D8%AA%D8%AF%D8%A7%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%A5%D9%84%D9%83%D8%AA%D8%B1%D9%88%D9%86%D9%8A%D8%A9-%D8%A8%D9%8A%D8%AA%D9%83%D9%88%D9%8A%D9%86- |access-date=2023-06-21 |website=العربية |language=ar |archive-date=22 June 2023 |archive-url=https://web.archive.org/web/20230622001841/https://www.alarabiya.net/aswaq/economy/2017/07/04/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AD%D8%B0%D8%B1-%D9%85%D9%86-%D8%AA%D8%AF%D8%A7%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%A5%D9%84%D9%83%D8%AA%D8%B1%D9%88%D9%86%D9%8A%D8%A9-%D8%A8%D9%8A%D8%AA%D9%83%D9%88%D9%8A%D9%86- |url-status=live }}

|15px Legal / 15px Banking ban

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The government of Jordan has issued a warning discouraging the use of bitcoin and other similar systems.{{cite web | url=http://www.dailystar.com.lb/Business/Lebanon/2014/Feb-24/248247-despite-warnings-bitcoin-gains-toehold-in-region.ashx | title=Despite warnings, Bitcoin gains toehold in region | publisher=The Daily Star | work=dailystar.com.lb | date=24 February 2014 | access-date=17 June 2015 | author=Knutsen, Elise | quote=[In February of 2014] the Central Bank of Jordan issued a warning against the currency, becoming the second government in the region to do so after Lebanon. | archive-date=2 September 2018 | archive-url=https://web.archive.org/web/20180902000151/http://www.dailystar.com.lb/Business/Lebanon/2014/Feb-24/248247-despite-warnings-bitcoin-gains-toehold-in-region.ashx | url-status=live }}

The Central Bank of Jordan prohibits banks, currency exchanges, financial companies, and payment service companies from dealing in bitcoins or other digital currencies. While it warned the public of risks of bitcoins, and that they are not legal tender, bitcoins are still accepted by small businesses and merchants.{{cite news | url=http://jordantimes.com/central-bank-warns-against-using-bitcoin | work=The Jordan Times | title=Central bank warns against using bitcoin | first=Omar | last=Obeidat | date=22 February 2014 | access-date=11 March 2014 | archive-date=28 April 2015 | archive-url=https://web.archive.org/web/20150428002618/http://jordantimes.com/central-bank-warns-against-using-bitcoin | url-status=live }}

|15px Legal

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The government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems.

|15px Legal / 15px Illegal as a payment tool, banking ban

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On 16 April 2021, Central Bank of the Republic of Turkey issued a regulation banning the use of cryptocurrencies including bitcoin and other such digital assets based on distributed ledger technology, directly or indirectly, to pay for goods and services, citing possible "irreparable" damage and transaction risks starting 30 April 2021.{{cite press release |title=ÖDEMELERDE KRİPTO VARLIKLARIN KULLANILMAMASINA DAİR YÖNETMELİK |url=https://www.resmigazete.gov.tr/eskiler/2021/04/20210416-4.htm|date=16 April 2021|publisher=Central Bank of the Republic of Turkey|access-date=16 April 2021}}{{cite news |last1=Toksabay |first1=Ece |title=Bitcoin tumbles after Turkey bans crypto payments citing risks |url=https://www.reuters.com/technology/turkey-bans-use-cryptocurrencies-payments-sends-bitcoin-down-2021-04-16/ |access-date=16 April 2021 |work=Reuters |date=16 April 2021 |archive-date=16 April 2021 |archive-url=https://web.archive.org/web/20210416062647/https://www.reuters.com/technology/turkey-bans-use-cryptocurrencies-payments-sends-bitcoin-down-2021-04-16/ |url-status=live }}

|15px Legal / 15px Banking ban

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Banks are not allowed to trade in bitcoin due to concerns over financial crimes and hacking. Additionally cryptocurrency is banned in the Qatar Financial Centre.{{cite web|url=https://thepeninsulaqatar.com/article/07/02/2018/Bitcoin-trading-prohibited-in-Qatar-Central-Bank|title=Bitcoin trading prohibited in Qatar: Central Bank|date=7 February 2018|access-date=25 March 2021|website=thepeninsulaqatar.com|archive-date=6 February 2021|archive-url=https://web.archive.org/web/20210206085259/https://thepeninsulaqatar.com/article/07/02/2018/Bitcoin-trading-prohibited-in-Qatar-Central-Bank|url-status=live}}

|15px Legal / 15px Banking ban

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Financial institutions are not allowed by central bank to facilitate bitcoin transactions.

In April 2018, Central Bank of the Islamic Republic of Iran issued a statement banning the country's banks and financial institutions from dealing with cryptocurrencies, citing money laundering and terrorism financing risks.{{cite news |title=Iran central bank bans cryptocurrency dealings |url=https://www.reuters.com/article/us-crypto-currencies-iran/iran-central-bank-bans-cryptocurrency-dealings-idUSKBN1HT0YN |work=Reuters |date=22 April 2018 |language=en |access-date=22 June 2023 |archive-date=22 June 2023 |archive-url=https://web.archive.org/web/20230622001841/https://www.reuters.com/article/us-crypto-currencies-iran/iran-central-bank-bans-cryptocurrency-dealings-idUSKBN1HT0YN |url-status=live }}

|15px Illegal

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Financial institutions are not allowed to facilitate bitcoin transactions.

In September 2014, Bangladesh Bank said that "anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws".{{cite web | url=https://www.telegraph.co.uk/finance/currency/11097208/Why-Bangladesh-will-jail-Bitcoin-traders.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/currency/11097208/Why-Bangladesh-will-jail-Bitcoin-traders.html |archive-date=12 January 2022 |url-access=subscription |url-status=live | title=Why Bangladesh will jail Bitcoin traders | publisher=The Telegraph | work=telegraph.co.uk | date=15 September 2014 | access-date=23 February 2015 | author=AFP}}{{cbignore}} In 2021 the Bangladesh Bank said that cryptocurrency transactions or trade should be deemed as crimes if they involve money laundering or terror financing.{{cite web | url=https://archive.dhakatribune.com/business/2021/07/27/bangladesh-bank-to-cid-trading-owning-cryptocurrency-not-illegal | url-access= | title=Bangladesh Bank to CID: Trading, owning cryptocurrency not illegal | publisher=Dhaka Tribune | work=dhakatribune.com | date=27 July 2021 | access-date=30 January 2023 | author= | archive-date=30 January 2023 | archive-url=https://web.archive.org/web/20230130103913/https://archive.dhakatribune.com/business/2021/07/27/bangladesh-bank-to-cid-trading-owning-cryptocurrency-not-illegal | url-status=live }}

|15px Legal

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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. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems.

"The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system," Jaitley said.{{Cite news|url=https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/|title=Arun Jaitley has just killed India's cryptocurrency party|last=Anand|first=Nupur|work=Quartz|access-date=1 February 2018|language=en-US|archive-date=1 February 2018|archive-url=https://web.archive.org/web/20180201074636/https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/|url-status=live}}

In early 2018 India's central bank, the Reserve Bank of India (RBI) announced a ban on the sale or purchase of cryptocurrency for entities regulated by RBI.{{cite news |title=India bans crypto-currency trades |url=https://www.bbc.com/news/world-asia-india-43669730 |access-date=20 February 2019 |work=BBC |date=6 April 2018 |archive-date=21 January 2019 |archive-url=https://web.archive.org/web/20190121165356/https://www.bbc.com/news/world-asia-india-43669730 |url-status=live }}

In 2019, a petition has been filed by Internet and Mobile Association of India with the Supreme Court of India challenging the legality of cryptocurrencies and seeking a direction or order restraining their transaction.{{Cite web|url=http://onelawstreet.com/challenge-to-cryptocurrencies/|title=Challenge to cryptocurrencies|date=17 February 2019|website=1, Law Street|language=en-US|access-date=20 February 2019|archive-date=20 February 2019|archive-url=https://web.archive.org/web/20190220181628/http://onelawstreet.com/challenge-to-cryptocurrencies/|url-status=dead}} In March 2020, the Supreme Court of India passed the verdict, revoking the RBI ban on cryptocurrency trade.{{Cite web|url=https://www.indiatoday.in/business/story/supreme-court-quashes-rbi-ban-on-cryptocurrency-1652254-2020-03-04|title=Supreme Court quashes RBI ban on cryptocurrency trade|first1=Aneesha|last1=Mathur|website=India Today|language=en|access-date=4 March 2020|archive-date=30 January 2021|archive-url=https://web.archive.org/web/20210130034029/https://www.indiatoday.in/business/story/supreme-court-quashes-rbi-ban-on-cryptocurrency-1652254-2020-03-04|url-status=live}}{{Cite web|url=https://www.thequint.com/tech-and-auto/supreme-court-strikes-down-rbi-ban-on-cryptocurrency-trading-in-india|title=Supreme Court Lifts Ban on Cryptocurrency Trading in India|date=4 March 2020|website=The Quint|language=en|access-date=4 March 2020|archive-date=4 March 2020|archive-url=https://web.archive.org/web/20200304074233/https://www.thequint.com/tech-and-auto/supreme-court-strikes-down-rbi-ban-on-cryptocurrency-trading-in-india|url-status=live}}

In 2021, the government is exploring the creation of a state-backed digital currency issued by the Reserve Bank of India, while banning private ones like bitcoin.{{Cite web|url=https://www.cnbc.com/2021/01/30/the-indian-government-may-ban-cryptocurrencies-like-bitcoin.html|title=India might ban private cryptocurrencies like bitcoin and develop a national digital coin|date=30 January 2021|website=CNBC|language=en-US|access-date=6 February 2021|archive-date=5 February 2021|archive-url=https://web.archive.org/web/20210205162633/https://www.cnbc.com/2021/01/30/the-indian-government-may-ban-cryptocurrencies-like-bitcoin.html|url-status=live}}

At present, India neither prohibits nor allows investment in the cryptocurrency market. In 2020, the Supreme Court of India had specifically lifted the ban on cryptocurrency, which was imposed by the Reserve Bank of India.{{Cite web|url=https://www.news18.com/news/opinion/rbi-lost-case-on-cryptocurrency-in-supreme-court-it-must-stop-behaving-like-sore-loser-4196594.html|title=RBI Lost Case on Cryptocurrency in Supreme Court, It Must Stop Behaving Like Sore Loser|date=18 September 2021|access-date=24 January 2022|archive-date=24 January 2022|archive-url=https://web.archive.org/web/20220124051652/https://www.news18.com/news/opinion/rbi-lost-case-on-cryptocurrency-in-supreme-court-it-must-stop-behaving-like-sore-loser-4196594.html|url-status=live}}{{Cite news|url=https://www.thehindu.com/business/future-of-cryptocurrency-in-india-continues-to-hang-in-the-balance/article34704676.ece|title=Future of cryptocurrency in India continues to hang in the balance|newspaper=The Hindu|date=2 June 2021|last1=Perumal|first1=Prashanth|access-date=24 January 2022|archive-date=24 January 2022|archive-url=https://web.archive.org/web/20220124053149/https://www.thehindu.com/business/future-of-cryptocurrency-in-india-continues-to-hang-in-the-balance/article34704676.ece|url-status=live}}{{Cite web|url = https://indianexpress.com/article/technology/crypto/cryptocurrency-in-india-a-look-at-the-regulatory-journey-of-cryptocurrencies-7648767/|title = From ban to regulation, cryptocurrency's journey so far in India|date = 2 February 2022|access-date = 24 January 2022|archive-date = 24 January 2022|archive-url = https://web.archive.org/web/20220124051648/https://indianexpress.com/article/technology/crypto/cryptocurrency-in-india-a-look-at-the-regulatory-journey-of-cryptocurrencies-7648767/|url-status = live}}{{Cite web|url=https://www.moneycontrol.com/news/business/personal-finance/sc-verdict-on-cryptocurrencies-what-it-means-for-investors-5070381.html|title=SC verdict on cryptocurrencies: What it means for investors|date=25 March 2020 |access-date=24 January 2022|archive-date=24 January 2022|archive-url=https://web.archive.org/web/20220124051654/https://www.moneycontrol.com/news/business/personal-finance/sc-verdict-on-cryptocurrencies-what-it-means-for-investors-5070381.html|url-status=live}} Since then the investment in cryptocurrency is considered legitimate though there is still ambiguity about the issues regarding the extent and payment of tax on the income accrued thereupon and also its regulatory regime. But it is being contemplated that the Indian Parliament will soon pass a specific law to either ban or regulate the cryptocurrency market in India.{{Cite web | url=https://www.dw.com/en/why-is-the-indian-government-cracking-down-on-cryptocurrency/a-60148889 | title=Why is the Indian government cracking down on cryptocurrency? | DW | 16.12.2021 | website=Deutsche Welle | access-date=24 January 2022 | archive-date=28 January 2022 | archive-url=https://web.archive.org/web/20220128213818/https://www.dw.com/en/why-is-the-indian-government-cracking-down-on-cryptocurrency/a-60148889 | url-status=live }} Expressing his public policy opinion on the Indian cryptocurrency market to a well-known online publication, a leading public policy lawyer and Vice President of SAARCLAW (South Asian Association for Regional Co-operation in Law) Hemant Batra has said that the "cryptocurrency market has now become very big with involvement of billions of dollars in the market hence, it is now unattainable and irreconcilable for the government to completely ban all sorts of cryptocurrency and its trading and investment".{{cite web | url=https://www.mumbaiuncensored.com/2022/01/15/the-crypto-effect-framework-challenges-the-way-forward/ | title=The Crypto Effect : Framework, challenges & the way forward | date=15 January 2022 | access-date=24 January 2022 | archive-date=24 January 2022 | archive-url=https://web.archive.org/web/20220124050010/https://www.mumbaiuncensored.com/2022/01/15/the-crypto-effect-framework-challenges-the-way-forward/ | url-status=live }} He mooted regulating the cryptocurrency market rather than completely banning it. He favoured following IMF and FATF guidelines in this regard.

|15px Illegal

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Absolute ban. The use of any cryptocurrency is illegal in Nepal.{{cite web|url=https://www.nrb.org.np/2020/11/%E0%A4%A8%E0%A5%87%E0%A4%AA%E0%A4%BE%E0%A4%B2%E0%A4%AE%E0%A4%BE-bitcoin-%E0%A4%B2%E0%A4%97%E0%A4%BE%E0%A4%AF%E0%A4%A4%E0%A4%95%E0%A4%BE-cryptocurrency-%E0%A4%B9%E0%A4%B0%E0%A5%81%E0%A4%95%E0%A5%8B/|title=नपालमा Bitcoin लगायतका Cryptocurrency हरको कारोबार गरन पाइनछ/पाइदन ?|trans-title=Can Bitcoin and other cryptocurrencies be used in Nepal?|language=ne|publisher=Nepal Rastra Bank|access-date=9 September 2021|archive-date=9 September 2021|archive-url=https://web.archive.org/web/20210909155341/https://www.nrb.org.np/2020/11/%E0%A4%A8%E0%A5%87%E0%A4%AA%E0%A4%BE%E0%A4%B2%E0%A4%AE%E0%A4%BE-bitcoin-%E0%A4%B2%E0%A4%97%E0%A4%BE%E0%A4%AF%E0%A4%A4%E0%A4%95%E0%A4%BE-cryptocurrency-%E0%A4%B9%E0%A4%B0%E0%A5%81%E0%A4%95%E0%A5%8B/|url-status=live}}

|15px Legal

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Cryptocurrencies including bitcoin are not officially regulated in Pakistan;{{Cite news|last=Tanoli|first=Ishaq|date=18 December 2020|title=State Bank never declared cryptocurrency illegal, SHC told|work=Dawn|url=https://www.techjuice.pk/crypto-to-be-legalized-in-pakistan-if-the-government-fails-to-reply-to-waqar-zakas-petition/|access-date=|archive-date=22 January 2021|archive-url=https://web.archive.org/web/20210122022614/https://www.techjuice.pk/crypto-to-be-legalized-in-pakistan-if-the-government-fails-to-reply-to-waqar-zakas-petition/|url-status=live}}{{Cite news|last=Khurshid|first=Jamal|date=18 December 2020|title=SBP did not declare crypto currency illegal, SHC told|work=TheNews|url=https://www.thenews.com.pk/print/760471-sbp-did-not-declare-crypto-currency-illegal-shc-told|access-date=|archive-date=22 January 2021|archive-url=https://web.archive.org/web/20210122022617/https://www.thenews.com.pk/print/760471-sbp-did-not-declare-crypto-currency-illegal-shc-told|url-status=live}} however, it is not illegal or banned. As of 16 January 2021, the State Bank of Pakistan has not authorized any individuals or organizations to carry out the sale, purchase, exchange, and investment of virtual currencies, coins, and tokens.{{Cite web|last=|first=|date=2018|title=CAUTION REGARDING RISKS OF VIRTUAL CURRENCIES|url=https://www.sbp.org.pk/warnings/pdf/2018/PBNT-VC.pdf|access-date=|website=|archive-date=6 March 2021|archive-url=https://web.archive.org/web/20210306144012/https://www.sbp.org.pk/warnings/pdf/2018/PBNT-VC.pdf|url-status=live}} There have been a number of arrests by the Cyber Crime Wing of the Federal Investigation Agency (FIA) related to the mining of bitcoin and other cryptocurrencies. These arrests were made under money-laundering charges.{{Cite news|last=|first=|date=23 January 2020|title=Two held in Shangla for money laundering through bitcoin|work=Dawn|url=https://www.dawn.com/news/1529970|access-date=|archive-date=23 January 2021|archive-url=https://web.archive.org/web/20210123004325/https://www.dawn.com/news/1529970|url-status=live}}

Despite the many controversies around virtual currencies, prominent Pakistani bloggers and social media influencers are publicly involved in trading bitcoin and regularly publish content on social media in the favor of regulating cryptocurrencies. In December 2020, the Khyber Pakhtunkhwa government became the first province in Pakistan to pass a resolution to legalize cryptocurrency in the country.{{Cite news|last=|first=|date=3 December 2020|title=KP Government Legalizes Cryptocurrency: Zia Ullah Bangash|work=Business Recorder|url=https://www.brecorder.com/news/40037203/kp-government-legalizes-cryptocurrency-zia-ullah-bangash|access-date=|archive-date=21 January 2021|archive-url=https://web.archive.org/web/20210121222921/https://www.brecorder.com/news/40037203/kp-government-legalizes-cryptocurrency-zia-ullah-bangash|url-status=live}}

|15px Illegal

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Financial institutions are not allowed to facilitate bitcoin transactions.

Regulation prohibits financial firms holding or trading cryptocurrencies.{{r|"EUPARANNEX"|page=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.{{cite news |url=https://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html |title=China Bans Financial Companies From Bitcoin Transactions |newspaper=Bloomberg.com |publisher=Bloomberg |date=5 December 2013 |access-date=16 December 2013 |archive-date=7 January 2015 |archive-url=https://web.archive.org/web/20150107224952/http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html |url-status=live }}

On 1 April 2014 PBOC ordered commercial banks and payment companies to close bitcoin trading accounts in two weeks.{{cite news|author1=Chao Deng|author2=Lingling Wei|title=China Cracks Down on Bitcoin|url=https://online.wsj.com/articles/SB10001424052702304157204579475233879506454|access-date=8 November 2014|work=WSJ.com|publisher=Dow Jones & Company|date=1 April 2014|archive-date=27 March 2020|archive-url=https://web.archive.org/web/20200327144736/https://online.wsj.com/articles/SB10001424052702304157204579475233879506454|url-status=live}}

Cryptocurrency exchanges or trading platforms were effectively banned by regulation in September 2017 with 173 platforms closed down by July 2018.{{cite web |title=Regulation of Cryptocurrency: C' |url=https://www.loc.gov/law/help/cryptocurrency/china.php |website=Library of Congress |access-date=29 September 2018 |date=12 July 2018 |archive-date=29 September 2018 |archive-url=https://web.archive.org/web/20180929080014/http://www.loc.gov/law/help/cryptocurrency/china.php |url-status=live }}

In early 2018 the People's Bank of China announced the State Administration of Foreign Exchange led by Pan Gongsheng would crack down on bitcoin mining.{{cite news |last1 = Russell |first1 = John |title = China is reportedly moving to clamp down on bitcoin miners |url = https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/ |access-date = 10 January 2018 |work = TechCrunch |date = 9 January 2018 |archive-date = 10 January 2018 |archive-url = https://web.archive.org/web/20180110174448/https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/ |url-status = live }}{{cite news |last1 = Chen |first1 = Jia |title = PBOC gets tougher on bitcoin |url = http://www.chinadaily.com.cn/a/201801/05/WS5a4eb4cba31008cf16da527c.html |access-date = 10 January 2018 |work = China Daily |date = 5 January 2018 |archive-date = 10 January 2018 |archive-url = https://web.archive.org/web/20180110000244/http://www.chinadaily.com.cn/a/201801/05/WS5a4eb4cba31008cf16da527c.html |url-status = live }} Many bitcoin mining operations in China had stopped operating by January 2018. A complete ban on cryptocurrency trading and mining was put into effect on 24 September 2021.{{cite news |last1=John |first1=Alun |last2=Shen |first2=Samuel |last3=Wilson |first3=Tom |title=China's top regulators ban crypto trading and mining, sending bitcoin tumbling |url=https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/ |access-date=24 September 2021 |work=Reuters |date=24 September 2021 |language=en |archive-date=20 September 2022 |archive-url=https://web.archive.org/web/20220920005038/https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/ |url-status=live }}

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In 2013 Norman Chan, the chief executive of Hong Kong Monetary Authority (HKMA) said that bitcoin is only a virtual commodity. He also decided that bitcoin will not be regulated by HKMA. However, the authority will be closely watching the usage of bitcoin locally and its development overseas.{{cite news|title=比特币不受金管局监管 (Bitcoin is not regulated by HKMA)|url=http://news.takungpao.com/paper/q/2013/1116/2042791.html|date=16 November 2013|publisher=Ta Kung Pao|access-date=18 January 2014|archive-date=27 October 2016|archive-url=https://web.archive.org/web/20161027014238/http://news.takungpao.com/paper/q/2013/1116/2042791.html|url-status=live}} Secretary for Financial Services and the Treasury addressed bitcoin in the Legislative Council stating that "Hong Kong at present has no legislation directly regulating bitcoins and other virtual currencies of [a] similar kind. 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."{{r|"regulation"|page=Hong Kong}}

Starting in late 2022 government bodies including the Treasury Bureau and the HKMA announced they intended to embrace digital assets, and began work on a regulatory framework based on the idea of “same activity, same risks, same regulation”.{{Cite web |date=2022-11-08 |title=Hong Kong's renewed stance on virtual assets, security tokens and retail investors {{!}} Davis Polk |url=https://www.davispolk.com/insights/client-update/hong-kongs-renewed-stance-virtual-assets-security-tokens-and-retail |access-date=2024-06-03 |website=www.davispolk.com |language=en}}{{Cite web |last=Authority |first=Hong Kong Monetary |title=Hong Kong Monetary Authority - New Fintech Promotion Roadmap: Opening Remarks at the Seminar on Distributed Ledger Technology - Unlocking the Potential of DLT in Financial Services |url=https://www.hkma.gov.hk/eng/news-and-media/speeches/2024/03/20240327-1/ |access-date=2024-06-10 |website=Hong Kong Monetary Authority |language=en}}{{Cite web |title=Financial Services and the Treasury Bureau : A new phase in virtual asset regulation |url=https://www.fstb.gov.hk/en/blog/blog020224.htm |access-date=2024-06-10 |website=www.fstb.gov.hk |language=en}}{{Cite web |date=2023-07-23 |title=Ripple focused on markets with clear rules as ambiguity remains in US after win |url=https://www.scmp.com/tech/tech-trends/article/3228489/crypto-firm-ripple-focused-markets-clear-rules-including-asia-after-partial-us-victory-allowing-xrp |access-date=2024-06-10 |website=South China Morning Post |language=en}} By late 2023 a supervision framework that includes enhanced identity verification was finalized.{{Cite web |last=Standard |first=The |title=Crypto oversight won't hurt market: Chan |url=https://www.thestandard.com.hk/section-news/section/2/257427/Crypto-oversight-won't-hurt-market:-Chan |access-date=2024-06-03 |website=The Standard |language=en}} The new Virtual Asset Trading Platform regulations came into force mid-2024.{{Cite web |date=2024-02-05 |title=Hong Kong wants crypto investors to remain wary as exchanges rush for licence |url=https://www.scmp.com/tech/policy/article/3250996/sfc-reminds-crypto-investors-be-wary-unlicensed-platforms-final-month-apply-under-hong-kong-scheme |access-date=2024-06-03 |website=South China Morning Post |language=en}}

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On 7 March 2014, the Japanese government, in response to a series of questions asked in the National Diet, made a cabinet decision on the legal treatment of bitcoins in the form of answers to the questions.{{cite news | url=http://www.nikkei.com/article/DGXNASGC0700C_X00C14A3MM0000/ | work=Nikkei Inc. | title=The First Governmental View: Bitcoin is not Currency (in Japanese) | date=7 March 2014 | access-date=28 March 2014 | archive-date=2 April 2019 | archive-url=https://web.archive.org/web/20190402115949/https://www.nikkei.com/article/DGXNASGC0700C_X00C14A3MM0000/ | url-status=live }} The decision did not see bitcoin as currency nor bond under the current Banking Act and Financial Instruments and Exchange Law, prohibiting banks and securities companies from dealing in bitcoins. The decision also acknowledges that there are no laws to unconditionally prohibit individuals or legal entities from receiving bitcoins in exchange for goods or services. Taxes may be applicable to bitcoins.

As of April 2017, cryptocurrency exchange businesses operating in Japan have been regulated by the Payment Services Act. Cryptocurrency exchange businesses have to be registered, keep records, take security measures, and take measures to protect customers. The law on cryptocurrency transactions must comply with the anti-money laundering law; and measures to protect users investors. The Payment Services Act defines "cryptocurrency" as a property value. The Act also states that cryptocurrency is limited to property values that are stored electronically on electronic devices, not a legal tender.{{cite web |title=Regulation of Cryptocurrency |url=https://www.loc.gov/law/help/cryptocurrency/japan.php |publisher=Library of Congress |access-date=7 September 2018 |language=en |date=June 2018 |archive-date=21 September 2018 |archive-url=https://web.archive.org/web/20180921031724/http://www.loc.gov/law/help/cryptocurrency/japan.php |url-status=live }} {{PD-notice}}{{Cite news|title=ADVISORY-References to bitcoin as 'legal tender' in Japan|url=https://www.reuters.com/article/idUKL3N1OD35L|publisher=Reuters|date=13 December 2017|access-date=6 June 2021|archive-date=6 June 2021|archive-url=https://web.archive.org/web/20210606011252/https://www.reuters.com/article/idUKL3N1OD35L|url-status=live}}

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Minors and all foreigners are prohibited from trading cryptocurrencies. Adult South Koreans may trade on registered exchanges using real name accounts at a bank where the exchange also has an account. Both the bank and the exchange are responsible for verifying the customer's identity and enforcing other anti-money-laundering provisions.{{cite web |title=Regulation of Cryptocurrency Around the World |url=https://www.loc.gov/law/help/cryptocurrency/cryptocurrency-world-survey.pdf |website=Library of Congress |access-date=29 September 2018 |date=June 2018 |archive-date=14 August 2018 |archive-url=https://web.archive.org/web/20180814071440/https://www.loc.gov/law/help/cryptocurrency/cryptocurrency-world-survey.pdf |url-status=live }}{{cite web |author1=Brian Newar |title=Amendment to Special Reporting Act Passes – Cryptocurrency Now Fully Legal in South Korea |url=https://thenews.asia/amendment-to-special-reporting-act-passes-cryptocurrency-trading-now-legal-in-south-korea/ |website=TheNews.Asia |date=5 March 2020 |access-date=16 July 2020 |archive-date=10 February 2021 |archive-url=https://web.archive.org/web/20210210021013/https://thenews.asia/amendment-to-special-reporting-act-passes-cryptocurrency-trading-now-legal-in-south-korea/ |url-status=live }}

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Financial institutions are not allowed to facilitate bitcoin transactions.

Regulators have warned the public that bitcoin does not have legal protection, "as the currency is not issued by any monetary authority and is therefore not entitled to legal claims or guarantee of conversion".{{cite web|last1=Hsu|first1=Crystal|title=Regulators warn against using bitcoins|url=http://www.taipeitimes.com/News/biz/archives/2013/12/31/2003580146|website=Taipei Times|date=31 December 2013|access-date=17 April 2017|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215123107/http://www.taipeitimes.com/News/biz/archives/2013/12/31/2003580146|url-status=live}}

Financial institutions have been warned by regulators that necessary regulatory actions may be taken if they use bitcoin.{{r|"regulation"|page=Taiwan}}

On 31 December 2013, Financial Supervisory Commission (Republic of China) (FSC) and CBC issued a joint statement which warns against the use of bitcoin. It is stated that bitcoin remains highly volatile, highly speculative, and is not entitled to legal claims or guarantee of conversion.{{cite news|last1=Crystal|first1=Hsu|title=Regulators warn against using bitcoins|url=http://www.taipeitimes.com/News/biz/archives/2013/12/31/2003580146|access-date=15 October 2015|publisher=Taipei Times|date=31 December 2013|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215123107/http://www.taipeitimes.com/News/biz/archives/2013/12/31/2003580146|url-status=live}}

On 5 January 2014, FSC chairman Tseng Ming-chung stated that FSC will not allow the installation of bitcoin ATM in Taiwan because bitcoin is not a currency and it should not be accepted by individuals and banks as payment.{{cite news|title=Taiwan's Government Says No To Bitcoin ATMs|url=https://techcrunch.com/2014/01/05/taiwans-government-says-no-to-bitcoin-atms/|date=5 January 2014|last=Shu|first=Catherine|publisher=TechCrunch|access-date=18 January 2014|archive-date=24 June 2019|archive-url=https://web.archive.org/web/20190624170514/https://techcrunch.com/2014/01/05/taiwans-government-says-no-to-bitcoin-atms/|url-status=live}}

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The National Bank of Cambodia (NBC), has "asked banks in Cambodia not to allow people to conduct transactions with cryptocurrencies."

|15px Legal to trade and hold / 15px Illegal as payment tool

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On 7 December 2017, Bank Indonesia, the country's central bank, issued a regulation banning the use of cryptocurrencies including bitcoin as payment tools starting 1 January 2018. On 11 November 2021, Indonesian Ulema Council issued haram fatwa against use of cryptocurrencies as currency including Bitcoin, citing both Islamic laws and Indonesian banking and monetary regulations. The fatwa also forbids cryptocurrency trading and holding, except if those cryptocurrencies met the Islamic sil'ah standards of trade-able and own-able goods such as having physical form, having clear value, having known number, can be really owned, transferable, and not entirely speculative.{{Cite web|last=Hikam|first=Herdi Alif Al|date=11 November 2021|title=MUI: Kripto Sebagai Mata Uang Hukumnya Haram!|url=https://finance.detik.com/fintech/d-5806788/mui-kripto-sebagai-mata-uang-hukumnya-haram|access-date=11 November 2021|website=detikfinance|language=id-ID|archive-date=11 November 2021|archive-url=https://web.archive.org/web/20211111082327/https://finance.detik.com/fintech/d-5806788/mui-kripto-sebagai-mata-uang-hukumnya-haram|url-status=live}} By passing of the Law on Financial Sector Development and Strengthening on 15 December 2022, all cryptocurrencies including the Bitcoin listed as "monitored financial technologies" that all related affairs related to the innovation, utilization, and other activities related to it will become the subject of Bank Indonesia and Financial Services Authority control and monitoring.{{Cite web |date=2022-12-16 |title=Mengenal UU PPSK, Omnibus Law Keuangan yang Juga Mengatur Aset Kripto - Sejarah Ekonomi Katadata.co.id |url=https://katadata.co.id/ariayudhistira/ekonopedia/639be5a811279/mengenal-uu-ppsk-omnibus-law-keuangan-yang-juga-mengatur-aset-kripto |access-date=2022-12-17 |website=katadata.co.id |language=id |archive-date=17 December 2022 |archive-url=https://web.archive.org/web/20221217041314/https://katadata.co.id/ariayudhistira/ekonopedia/639be5a811279/mengenal-uu-ppsk-omnibus-law-keuangan-yang-juga-mengatur-aset-kripto |url-status=live }}

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On 4 November 2013, Bank Negara Malaysia (BNM) met with local bitcoin proponents to learn more about the currency but did not comment at the time.{{cite web |url=http://betanomics.asia/blog/bank-negara-malaysian-government-unoffical-bitcoin-statement |title=Bank Negara's Officially Unofficial Statement on Bitcoin is No Statement |publisher=Betanomics.asia |access-date=21 September 2014 |archive-date=4 September 2014 |archive-url=https://web.archive.org/web/20140904192251/http://betanomics.asia/blog/bank-negara-malaysian-government-unoffical-bitcoin-statement |url-status=live }} BNM issued a statement on 6 January 2014 that bitcoin is not recognised as a legal tender in Malaysia. The central bank will not regulate bitcoin operations at the moment and users should aware of the risks associated with bitcoin usage.{{cite news|title=Statement on Bitcoin|url=http://www.bnm.gov.my/index.php?ch=en_announcement&pg=en_announcement_all&ac=275|date=6 January 2014|publisher=Bank Negara Malaysia|access-date=2 March 2014|archive-date=17 July 2018|archive-url=https://web.archive.org/web/20180717100240/http://www.bnm.gov.my/index.php?ch=en_announcement&pg=en_announcement_all&ac=275|url-status=dead}}{{cite news |title=BNM warns on Bitcoin risks |url=http://www.theedgemalaysia.com/technology/270011-bnm-warns-on-bitcoin-risks.html |archive-url=https://archive.today/20140111000422/http://www.theedgemalaysia.com/technology/270011-bnm-warns-on-bitcoin-risks.html |url-status=dead |archive-date=11 January 2014 |date=6 January 2014 |last=Fuad |first=Madiha |publisher=The Edge (Malaysia) |access-date=11 January 2014 }}{{r|"regulation"|page=Malaysia}}

In 2024, the Federal Territories Islamic Religious Council announced that cryptocurrencies can be used to pay zakat. Authorities also prescribed a zakat rate at 2.5% for cryptocurrencies, the same for other tradable commodities.{{cite news |title=Malaysia first country to enable zakat payments with crypto |url=https://www.nst.com.my/news/nation/2024/12/1152109/malaysia-first-country-enable-zakat-payments-crypto |access-date=25 December 2024 |work=New Straits Times |date=23 December 2024}}

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On 6 March 2014, Bangko Sentral ng Pilipinas (BSP) issued a statement on risks associated with bitcoin trading and usage. Recently virtual currencies were legalized and cryptocurrency exchanges are now regulated by Central Bank of the Philippines (Bangko Sentral ng Pilipinas) under Circular 944; however bitcoin and other "virtual currencies" are not recognized by the BSP as currency as "it is neither issued or guaranteed by a central bank nor backed by any commodity."{{Cite web|url=http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf|title=Guidelines for Virtual Currency (VC) Exchanges — BSP Circular 944 Series of 2017|last=Espenilla, Jr.|first=Nestor|date=6 February 2017|website=Bangko Sentral ng Pilipinas (Central Bank of the Philippines)|access-date=7 May 2017|archive-date=16 May 2017|archive-url=https://web.archive.org/web/20170516190637/http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf|url-status=live}}

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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."{{r|"regulation"|page=Singapore}}

On 22 September 2013, the Monetary Authority of Singapore (MAS) warned users of the risks associated with using bitcoin stating "If bitcoin ceases to operate, there may not be an identifiable party responsible for refunding their monies or for them to seek recourse"{{cite web |author=Irene Tham |url=http://business.asiaone.com/news/bitcoin-users-beware-mas |title=Bitcoin users beware: MAS | AsiaOne Business |publisher=Business.asiaone.com |date=22 September 2013 |access-date=27 December 2013 |archive-url=https://web.archive.org/web/20131224094806/http://business.asiaone.com/news/bitcoin-users-beware-mas |archive-date=24 December 2013 |url-status=dead }} and in December 2013 stated "Whether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene"{{cite web |author=Terence Lee |url=http://www.techinasia.com/singapore-government-decides-interfere-bitcoin/ |title=Singapore government decides not to interfere with Bitcoin |publisher=Techinasia.com |date=23 December 2013 |access-date=27 December 2013 |archive-date=26 December 2013 |archive-url=https://web.archive.org/web/20131226011048/http://www.techinasia.com/singapore-government-decides-interfere-bitcoin/ |url-status=live }} In January 2014, the Inland Revenue Authority of Singapore issued a series of tax guidelines according to which bitcoin transactions may be treated as a barter exchange if it is used as a payment method for real goods and services. Businesses that deal with bitcoin currency exchanges will be taxed based on their bitcoin sales.{{cite news |title=Singaporean Tax Authorities Have Issued Guidance On Bitcoin-Related Sales And Earnings |url=http://www.businessinsider.com.au/singaporean-tax-authorities-have-issued-guidance-on-bitcoin-related-sales-and-earnings-2014-1 |date=9 January 2014 |last=Tay |first=Liz |publisher=Business Insider (Australia) |access-date=11 January 2014 |archive-date=20 September 2018 |archive-url=https://web.archive.org/web/20180920133802/https://www.businessinsider.com.au/singaporean-tax-authorities-have-issued-guidance-on-bitcoin-related-sales-and-earnings-2014-1 |url-status=dead }}

In April 2019, the MAS referred to bitcoin as a digital payment token for purposes of the Payment Services Act.[https://www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulations-Guidance-and-Licensing/Guide-to-Digital-Tokens-Offering-last-updated-on-5-April-2019.pdf "MAS - A Guide to Digital Token Offerings" ] {{Webarchive|url=https://web.archive.org/web/20190810130901/https://www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulations-Guidance-and-Licensing/Guide-to-Digital-Tokens-Offering-last-updated-on-5-April-2019.pdf |date=10 August 2019 }}.

| 15px Legal to trade and hold / 15px Illegal as payment tool

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Thai based bitcoin exchanges can only exchange Digital Currencies for Thai Baht and are required to operate with a Thailand Business Development Department e-commerce license. They are also required to have KYC and CDD policies and procedures in place, in accordance with the Ministerial Regulation Prescribing Rules and Procedures for Customer Due Diligence, Reference Page 8 Volume 129 Part 44 A Government Gazette 23 May 2555 (2012).{{Cite web|url=https://www.tgia.org/upload/file_group/18/download_225.PDF|title=Ministerial Regulation Prescribing Rules and Procedures for Customer Due Diligence|date=23 May 2012|website=Tgia.org|access-date=30 October 2017|archive-date=1 May 2015|archive-url=https://web.archive.org/web/20150501052718/http://www.tgia.org/upload/file_group/18/download_225.PDF|url-status=live}}

Suspicious activity must be reported to the Anti-Money Laundering Office.{{Cite web|url= http://www.amlo.go.th/index.php/en/|title= Anti Money Laundering Office Thailand|website= Amlo.go.th|access-date= 29 October 2017|archive-date= 11 September 2018|archive-url= https://web.archive.org/web/20180911211414/http://www.amlo.go.th/index.php/en/|url-status= live}}

As of 1 April 2022, the Thai government no longer allows cryptocurrencies to be used as payment for goods or services. The regulation doesn't prohibit owning or trading cryptocurrencies, although commercial banks have been cautioned against direct involvement in digital assets.{{cite news |title=Govt bars use of cryptocurrencies as method of payment |url=https://www.bangkokpost.com/business/2283918/govt-bars-use-of-cryptocurrencies-as-method-of-payment |access-date=23 March 2022 |work=Bangkok Post |agency=Bloomberg |date=23 March 2022 |archive-date=1 July 2023 |archive-url=https://web.archive.org/web/20230701120704/https://www.bangkokpost.com/business/2283918/govt-bars-use-of-cryptocurrencies-as-method-of-payment |url-status=live }}

|15px Legal to trade and hold / 15px Illegal as payment tool

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The State Bank of Vietnam has declared that the issuance, supply and use of bitcoin and other similar virtual currency is illegal as a mean of payment and subject to punishment ranging from 150 million to 200 million VND,{{Cite web|url=https://tuoitre.vn/news-20171028102135916.htm|title=Ngân hàng nhà nước tuyên bố cấm sử dụng bitcoin|first=TUOI TRE|last=ONLINE|date=28 October 2017|website=TUOI TRE ONLINE|access-date=10 June 2021|archive-date=10 June 2021|archive-url=https://web.archive.org/web/20210610115427/https://tuoitre.vn/news-20171028102135916.htm|url-status=live}} but the government does not ban bitcoin trading as a virtual goods or assets.{{Cite web|url=https://thanhnien.vn/content/NzA4Mzgz.html|title=Thanh toán, giao dịch bitcoin vẫn sôi động|date=6 November 2017|website=Báo Thanh Niên|access-date=10 June 2021|archive-date=1 July 2023|archive-url=https://web.archive.org/web/20230701120657/https://thanhnien.vn/thanh-toan-giao-dich-bitcoin-van-soi-dong-185708383.htm|url-status=live}}

|15px Legal to trade and hold

----Bitcoin and cryptocurrency is not legal tender in Brunei Darussalam and are not regulated by AMBD (Brunei Monetary Authority). It is not protected under the laws administered by AMBD.{{Cite web|url=https://www.ambd.gov.bn/SiteAssets/Lists/News/News/AMBD%20Press%20Release%20-%20Cryptocurrencies.pdf|title=Press Release|website=Ambd.gov.bn|access-date=12 December 2018|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215223312/https://www.ambd.gov.bn/SiteAssets/Lists/News/News/AMBD%20Press%20Release%20-%20Cryptocurrencies.pdf|url-status=dead}}

AMBD however, advised the public not to be easily enticed by any investment or financial activity advertisements, and to conduct due diligence and understand the financial products properly before participating. There is no law that stated that holding or trading bitcoin is illegal.{{citation needed|date=November 2019}}

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Not considered to be an official form of currency, earnings are subject to tax law.

The Financial Market Authority (FMA) has warned investors that cryptocurrencies are risky and that the FMA does not supervise or regulate virtual currencies, including bitcoin, or cryptocurrency trading platforms.{{rp|30–31}}

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Croatia's Financial Stability Council warned investors about the risks of virtual currencies, such as digital wallet theft and fraud, on 18 December 2017. The National Bank of Croatia issued a similar warning on 22 September 2017.{{rp|33}}

|15px Legal

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Businesses and individuals who buy, sell, store, manage, or mediate the purchase or sale of virtual currencies or provide similar services must comply with the anti-money laundering law.{{rp|33–34}}

Bitcoin is classified as an intangible asset (not as electronic money) for the purpose of accounting and taxes.{{cite web|title=Bitcoiny a právo: do jaké škatulky kryptoměnu zařadit?|url=https://www.mesec.cz/clanky/bitcoiny-a-pravo-do-jake-skatulky-kryptomenu-zaradit/|access-date=14 December 2017|archive-date=14 December 2017|archive-url=https://web.archive.org/web/20171214125004/https://www.mesec.cz/clanky/bitcoiny-a-pravo-do-jake-skatulky-kryptomenu-zaradit/|url-status=live}}{{cite web|title=Sdělení Ministerstva financí k účtování a vykazování digitálních měn|url=https://www.mfcr.cz/cs/verejny-sektor/ucetnictvi-a-ucetnictvi-statu/ucetnictvi/legislativa-v-ucetnictvi/2018/sdeleni-ministerstva-financi-k-uctovani-31864|website=Mfcr.cz|date=15 May 2018 |publisher=Ministerstvo financí České republiky|access-date=22 May 2018|archive-date=23 May 2018|archive-url=https://web.archive.org/web/20180523011107/https://www.mfcr.cz/cs/verejny-sektor/ucetnictvi-a-ucetnictvi-statu/ucetnictvi/legislativa-v-ucetnictvi/2018/sdeleni-ministerstva-financi-k-uctovani-31864|url-status=live}}

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On 19 August 2013, the German Finance Ministry announced that bitcoin is now essentially a "unit of account" and can be used for the purpose of tax and trading in the country, meaning that purchases made with it must pay VAT as with euro transactions. It is not classified as a foreign currency or e–money but stands as "private money" which can be used in "multilateral clearing circles", according to the ministry.{{cite news |title=Bitcoin recognized by Germany as 'private money' |url=https://www.cnbc.com/2013/08/19/bitcoin-recognized-by-germany-as-private-money.html |date=19 August 2013 |last=Clinch |first=Matt |publisher=CNBC |access-date=18 January 2014 |archive-date=17 June 2019 |archive-url=https://web.archive.org/web/20190617140648/https://www.cnbc.com/id/100971898 |url-status=live }}{{cite news |title=Germany Recognizes Bitcoin As "Private Money", Sales Tax Coming Soon |url=https://techcrunch.com/2013/08/19/germany-recognizes-bitcoin-as-private-money-sales-tax-coming-soon/ |date=19 August 2013 |last=Dillet |first=Romain |publisher=TechCrunch |access-date=8 August 2017 |archive-date=18 February 2019 |archive-url=https://web.archive.org/web/20190218214609/https://techcrunch.com/2013/08/19/germany-recognizes-bitcoin-as-private-money-sales-tax-coming-soon/ |url-status=live }} The Bundesbank says that bitcoin is not a virtual currency or digital money. It recommends using the term "crypto token."{{rp|41}}

In November 2019, a legislation passed by German parliament allows the banks to sell and store cryptocurrencies starting from 1 January 2020.{{cite web|url=https://www.bundesrat.de/SharedDocs/beratungsvorgaenge/2019/0501-0600/0598-19.html|title=Gesetz zur Umsetzung der Änderungsrichtlinie zur Vierten EU-Geldwäscherichtlinie|website=Bundesrat|language=de|date=15 November 2019|access-date=30 November 2019|archive-date=9 December 2019|archive-url=https://web.archive.org/web/20191209183107/https://www.bundesrat.de/SharedDocs/beratungsvorgaenge/2019/0501-0600/0598-19.html|url-status=live}}

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---- The Hungarian Central Bank, Magyar Nemzeti Bank (MNB) has issued several warnings over cryptocurrencies, stating that it is "much riskier" than other electronic payments such as credit cards.{{Cite web |title = Hungary - Bitcoinregulation.world |url = https://www.bitcoinregulation.world/Hungary |website = www.bitcoinregulation.world |access-date = 18 September 2018 |archive-date = 18 September 2018 |archive-url = https://web.archive.org/web/20180918193728/https://www.bitcoinregulation.world/Hungary |url-status = live }}

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---- Back in 2018, Gibraltar became the first country in the world to provide a tailored regulatory framework for businesses that use distributed ledger technology.{{Cite web |title=Gibraltar's DLT Framework Is Considered "Key to Achieving Regulatory Cer-tainty" For Gibraltar Licensed BITSO As the Firm Raises US$255m - 367/2021 |url=https://www.gibraltar.gov.gi/press-releases/gibraltars-dlt-framework-is-considered-key-to-achieving-regulatory-cer-tainty-for-gibraltar-licensed-bitso-as-the-firm-raises-us255m-3672021-6933 |access-date=14 June 2022 |archive-date=28 September 2022 |archive-url=https://web.archive.org/web/20220928061448/https://www.gibraltar.gov.gi/press-releases/gibraltars-dlt-framework-is-considered-key-to-achieving-regulatory-cer-tainty-for-gibraltar-licensed-bitso-as-the-firm-raises-us255m-3672021-6933 |url-status=live }} The travel rule was implemented through the Proceeds of Crime Act 2015 (Transfer of Virtual Assets) Regulations 2021 and has been in force since March 22, 2021.{{Cite web |title=PROCEEDS OF CRIME ACT 2015 (TRANSFER OF VIRTUAL ASSETS) REGULATIONS 2021 |url=https://www.gibraltarlaws.gov.gi/uploads/legislations/proceeds-of-crime/2021s194/2021s194.pdf#viewer.action=download |access-date=14 June 2022 |archive-date=23 May 2022 |archive-url=https://web.archive.org/web/20220523174319/https://www.gibraltarlaws.gov.gi/uploads/legislations/proceeds-of-crime/2021s194/2021s194.pdf#viewer.action=download |url-status=live }}

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The use of bitcoin in Poland is not regulated by a legal act at present.{{r|"regulation"|page=Poland}}

Szymon Woźniak of the Ministry of Finance made an official announcement on the legality of bitcoin on 18 December 2013 at a conference at the Warsaw School of Economics stating that the Ministry of Finance does not consider bitcoin illegal and does not want to hinder its development.{{cite web |title=MinFin: Bitcoin nie jest nielegalny |date=18 December 2013 |access-date=18 December 2013 |url=https://www.pb.pl/minfin-bitcoin-nie-jest-nielegalny-740041 |publisher=Puls Biznesu |archive-date=5 April 2019 |archive-url=https://web.archive.org/web/20190405222544/https://www.pb.pl/minfin-bitcoin-nie-jest-nielegalny-740041 |url-status=live }} He clarified that while not illegal, bitcoin cannot be considered legal tender, and, in the light of the directives of the European Union, it is neither electronic money. As of 27 January 2015, several banks have closed accounts of clients trading bitcoin, and indicated "presumption of criminal offense" as the cause, with "criminal offense" presumably being "cryptocurrency trade".{{cite news |title=Banks closed current accounts for Bitcoin trade |language=pl |date=27 January 2015 |access-date=28 January 2015 |url=http://www.bankier.pl/wiadomosc/Banki-zamykaja-ROR-y-za-obrot-bitcoinami-7233425.html |publisher=bankier.pl |archive-date=2 April 2019 |archive-url=https://web.archive.org/web/20190402105359/https://www.bankier.pl/wiadomosc/Banki-zamykaja-ROR-y-za-obrot-bitcoinami-7233425.html |url-status=live }} As of 7 July 2017, the National Bank of Poland (NBP) and Financial Supervision Authority (KNF) issued a comment on virtual "currencies".{{cite web |title=Komunikat Narodowego Banku Polskiego i Komisji Nadzoru Finansowego w sprawie "walut" wirtualnych |language=pl |date=7 July 2017 |access-date=31 July 2017 |url=http://www.nbp.pl/home.aspx?f=/aktualnosci/wiadomosci_2017/ww-pl.html |publisher=nbp.pl |archive-date=29 March 2019 |archive-url=https://web.archive.org/web/20190329071517/http://www.nbp.pl/home.aspx?f=/aktualnosci/wiadomosci_2017/ww-pl.html |url-status=live }} They underlined that virtual currencies (including bitcoin): (1) are not issued or guaranteed by the central bank, (2) are not money, i.e. they are neither legal tender nor currency, (3) can not be used to pay tax liabilities, (4) do not meet the criterion of universal acceptability in shopping and service points, (5) are not electronic money, (6) are not payment services (in legal terms), (7) are not financial instruments (in legal terms). They added that trading virtual currencies in Poland does not violate national or EU law, however, having virtual "currencies", involves many risks: (1) risk related to the possibility of loss of funds due to theft, (2) risk related to lack of guarantee, (3) risk of lack of universal acceptability, (4) risk related to the possibility of fraud, (5) risk of high price change. Because of these risks, the NBP and KNF warn against buying virtual currencies and investing in them. The NBP and KNF recognize that the purchase, possession and sale of virtual currencies by entities supervised by the KNF (e.g. banks) would be burdened with high risk and would not ensure a stable and prudent management of the financial institution. Financial institutions should be cautious about engaging and cooperating with virtual currency "trading" entities.

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The use of bitcoin is regulated by Law 210/2019.{{Cite web |title=LEGE 210 08/11/2019 - Portal Legislativ |url=https://legislatie.just.ro/Public/DetaliiDocument/219752 |access-date=2024-09-09 |website=legislatie.just.ro}}

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".{{Cite web|title = Banca Naţională a României|url = http://www.bnr.ro/page.aspx?prid=10016|website = www.bnr.ro|access-date = 3 February 2016|archive-date = 4 September 2018|archive-url = https://web.archive.org/web/20180904072759/http://www.bnr.ro/page.aspx?prid=10016|url-status = live}}

In January 2019, Law nr. 30/2019 clarifies that starting in 2019, income from trading "virtual currency" is classified under "income from other sources". In addition, there is a new subpoint, Article 116. (2) c), specifying that the income tax of 10% is only applied on the "positive difference between the selling price and acquisition price" (and not to the entire received amount from a sale). In addition, profits under 200 RON per transaction that total under 600 RON during a fiscal year are exempt from tax.{{Cite web|title = Legea nr. 227/2015 privind Codul fiscal - ART. 116 - Declararea, stabilirea și plata impozitului pentru unele venituri din alte surse|url = https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_30012019.htm#A116|access-date = 19 February 2019|archive-date = 20 February 2019|archive-url = https://web.archive.org/web/20190220063020/https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_30012019.htm#A116|url-status = live}}

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The National Bank of Slovakia (NBS), stated{{cite web|title=Niekoľko úvah k virtuálnej mene bitcoin|url=http://www.bitcoinroot.com/The%20National%20Bank%20of%20Slovakia%20(NBS)%20statement%20about%20Bitcoin.pdf|publisher=Slovak National Bank|access-date=24 March 2015|archive-url=https://web.archive.org/web/20150402101322/http://www.bitcoinroot.com/The%20National%20Bank%20of%20Slovakia%20(NBS)%20statement%20about%20Bitcoin.pdf|archive-date=2 April 2015|url-status=dead}} that bitcoin does not have the legal attributes of a currency, and therefore it cannot be considered a currency.{{refn|group=note|Translated from: "...bitcoin nespĺňa atribúty meny v právnom zmysle (jeho platnosť na určitom území nie je mocensky ustanovená, právny poriadok neupravuje jej obeh ani ochranu), zastávame názor, že ho nie je možné označovať za menu."}} European legislation, including the Slovak law, does not define the activities associated with virtual currency. Such activities are not regulated and supervised by the National Bank of Slovakia or the European Central Bank. At the same time NBS points out that any legal person or natural person in the Slovak Republic shall not issue any notes or any other coins. Unlawful manufacturing of banknotes and coins and putting them into circulation is punishable by law. 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. Exchanges or purchases of virtual currencies represent the business risk of investors and investors' money are not protected. For any compensation of losses caused by such exchanges or purchases there is no legal entitlement.

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On 23 December 2013 the Slovenian Ministry of Finance made an announcement{{cite web |url=http://www.durs.gov.si/si/davki_predpisi_in_pojasnila/dohodnina_pojasnila/dohodek_iz_kapitala/dobicek_iz_kapitala/vrednostni_papirji_in_delezi_v_gospodarskih_druzbah_zadrugah_in_drugih_oblikah_organiziranja_ter_investicijski_kuponi/davcna_obravnava_poslovanja_z_virtualno_valuto_po_zdoh_2_in_zddpo_2/ |title=Davčna obravnava poslovanja z virtualno valuto po ZDoh-2 in ZDDPO-2 | Davčna uprava RS |language=sl |publisher=Durs.gov.si |date=23 December 2013 |access-date=27 December 2013 |archive-url=https://web.archive.org/web/20140328144033/http://www.durs.gov.si/si/davki_predpisi_in_pojasnila/dohodnina_pojasnila/dohodek_iz_kapitala/dobicek_iz_kapitala/vrednostni_papirji_in_delezi_v_gospodarskih_druzbah_zadrugah_in_drugih_oblikah_organiziranja_ter_investicijski_kuponi/davcna_obravnava_poslovanja_z_virtualno_valuto_po_zdoh_2_in_zddpo_2/ |archive-date=28 March 2014 |url-status=dead }} stating that bitcoin is neither a currency nor an asset. There is no capital gains tax chargeable on bitcoin, however bitcoin mining is taxed and businesses selling goods/services in bitcoin are also taxed.

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Bitcoin businesses in Switzerland are subject to anti-money laundering regulations and in some instances may need to obtain a banking license.{{cite web | url=http://www.finma.ch/e/finma/publikationen/faktenblaetter/Documents/fb-bitcoins-e.pdf | title=Fact sheet Status: Bitcoins | publisher=FINMA: Swiss Financial Market Supervisory Authority | work=finma.ch/ | date=25 June 2014 | access-date=26 February 2015 | quote=The use of bitcoins as a means of paying for goods and services in Switzerland is not regulated | archive-url=https://web.archive.org/web/20150211220624/http://www.finma.ch/e/finma/publikationen/faktenblaetter/Documents/fb-bitcoins-e.pdf | archive-date=11 February 2015 | url-status=dead }}

On 5 December 2013, a proposal was put forth by 45 members of the Swiss Parliament for digital sustainability (Pardigli), that calls on the Swiss government to evaluate the opportunities for utilization of bitcoin by the country's financial sector.{{cite web |url=http://www.parlament.ch/d/suche/Seiten/geschaefte.aspx?gesch_id=20134070 |title=Swiss Parliament: Rechtssicherheit für Bitcoin schaffen |publisher=Federal Assembly |access-date=27 December 2013 |archive-date=24 December 2013 |archive-url=https://web.archive.org/web/20131224105422/http://www.parlament.ch/d/suche/Seiten/geschaefte.aspx?gesch_id=20134070 |url-status=live }} It also seeks clarification on bitcoin's legal standing with respect to VAT, securities and anti-money laundering laws.{{cite web|url=http://www.parlament.ch/i/suche/Pagine/geschaefte.aspx?gesch_id=20133854|title=Swiss Parliament: Bitcoin and AML|publisher=Federal Assembly|access-date=16 April 2014|archive-date=16 April 2014|archive-url=https://web.archive.org/web/20140416191958/http://www.parlament.ch/i/suche/Pagine/geschaefte.aspx?gesch_id=20133854|url-status=live}}

In response to the parliament postulates, the Swiss Federal Council issued a report on virtual currencies in June 2014.{{cite web | publisher = Swiss Confederation | title = Federal Council report on virtual currencies in response to the Schwaab (13.3687) and Weibel (13.4070) postulates | work = Federal Council (Switzerland) | date = 25 June 2014 | access-date = 28 November 2014 | url = http://www.news.admin.ch/NSBSubscriber/message/attachments/35355.pdf | archive-date = 25 March 2016 | archive-url = https://web.archive.org/web/20160325181819/http://www.news.admin.ch/NSBSubscriber/message/attachments/35355.pdf | url-status = live }} The report states that since virtual currencies are not in a legal vacuum, the Federal Council has concluded that there is no need for legislative measures to be taken at the moment.

In 2016, Zug added bitcoin as a means of paying city fees, in a test and an attempt to advance Zug as a region that is advancing future technologies.{{cite news|url=http://www.dw.com/en/alpine-crypto-valley-pays-with-bitcoins/a-19371082? |last=Uhlig/jse |first=Christian |title=Alpine 'Crypto Valley' pays with Bitcoins |work=DW Finance |date=1 July 2016 |url-status=live |archive-url=https://archive.today/20160920160330/http://www.dw.com/en/alpine-crypto-valley-pays-with-bitcoins/a-19371082? |archive-date=20 September 2016 |access-date=20 September 2016 }} Swiss Federal Railways, government-owned railway company of Switzerland, sells bitcoins at its ticket machines.{{cite web |url=https://www.sbb.ch/en/station-services/services/further-services/bitcoin.html |title=SBB: Make quick and easy purchases with Bitcoin |website=Sbb.ch |access-date=5 January 2017 |archive-url=https://web.archive.org/web/20170115235119/https://www.sbb.ch/en/station-services/services/further-services/bitcoin.html |archive-date=15 January 2017 |url-status=dead }}

In 2018, FINMA stated that it would take a "balanced approach" towards the cryptocurrency industry and allow "legitimate innovators to navigate the regulatory landscape". By June 2021, a record number of 100 Exchange Traded Products (ETP) and crypto structured products were offered on the SIX Swiss Exchange with a total trading value of CHF 4.6 billion.[https://www.tagesanzeiger.ch/schweizer-boerse-kotiert-bereits-das-hundertste-kryptoprodukt-450198413162 "Schweizer Börse kotiert bereits das hundertste Kryptoprodukt"] {{Webarchive|url=https://web.archive.org/web/20210611172050/https://www.tagesanzeiger.ch/schweizer-boerse-kotiert-bereits-das-hundertste-kryptoprodukt-450198413162 |date=11 June 2021 }} (in German). Tages Anzeiger (Wirtschaft). Retrieved 11 June 2021.

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On 21 May 2020, Albania passed a new law to regulate cryptocurrency activities.{{Cite web|url=http://www.gazetatema.net/en/albanian-parliament-approves-comprehensive-regulatory-framework-for-cryptocurrencies/|title=Albanian Parliament approves comprehensive regulatory framework for cryptocurrencies|date=21 May 2020|access-date=3 December 2020|website=TemA|archive-date=2 February 2021|archive-url=https://web.archive.org/web/20210202135500/http://www.gazetatema.net/en/albanian-parliament-approves-comprehensive-regulatory-framework-for-cryptocurrencies/|url-status=live}}

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The Decree On the Development of Digital Economy — the decree of Alexander Lukashenko, the President of the Republic of Belarus, which includes measures to liberalize the conditions for conducting business in the sphere of high technologies.

The provisions of the decree "On the Development of Digital Economy" create of a legal basis for the circulation of digital currencies and tokens based on blockchain technology, so that resident companies of the High-Tech Park can provide the services of stock markets and exchange offices with cryptocurrencies and attract financing through the ICO. For legal entities, the Decree confers the rights to create and place their own tokens, carry out transactions through stock markets and exchange operators; to individuals the Decree gives the right to engage in mining, to own tokens, to acquire and change them for Belarusian rubels, foreign currency and electronic money, and to bequeath them. Up to 1 Jan In 2023, the Decree excludes revenue and profits from operations with tokens from the taxable base. In relation to individuals, the acquisition and sale of tokens is not considered entrepreneurial activity, and the tokens themselves and income from transactions with them are not subject to declaration. The peculiarity of the introduced regulation is that all operations will have to be carried out through the resident companies of the High-Tech Park.

In addition, the decree includes:

• Extension of the validity period of the special legal regime of the High-Tech Park until 1 January 2049, and expansion of the list of activities of resident companies. Under the new rules, developers of blockchain-based solutions, developers of machine learning systems based on artificial neural networks, companies from the medical and biotechnological industries, developers of unmanned vehicles, as well as software developers and publishers can become residents. The list of promising areas is unlimited and can be expanded by the decision of the High-Tech Park supervisory board.
• Preservation of existing benefits for resident companies in the High-Tech Park, including the cancellation of the profit tax (instead of which a contribution of 1% of the gross revenues proceeding to the administration of the park is applied), reduced to 9% of the personal income tax rate for employees, and the right to contribute to the Social Protection Fund according to the national average figures, and not the actual salaries.
• Exemption of foreign companies providing marketing, advertising, consulting and other services to the residents of the High-Tech Park from paying value-added tax, as well as paying income tax, which allows to promote IT products of Belarusian companies in foreign markets. To encourage investments, the Decree also exempts foreign companies from the tax on income from the alienation of shares, stakes in the authorized capital and shares in the property of residents of the High-Tech Park (under condition of continuous possession of at least 365 days).
• Introduction of individual English law institutions for residents of the High-Tech Park, which will make it possible to conclude option contracts, convertible loan agreements, non-competition agreements with employees, agreements with responsibility for enticing employees, irrevocable powers of attorney and other documents common in international practice. This measure is aimed at simplifying the structuring of transactions with foreign capital.
• Simplification of the regime of currency transactions for residents of the High-Tech Park, including the introduction of a notification procedure for currency transactions, the cancellation of the mandatory written form of foreign trade transactions, the introduction of confirmation of the conducted operations by primary documents drawn up unilaterally. Also, the decree removes restrictions on resident companies for transactions with electronic money and allows opening accounts in foreign banks and credit and financial organizations without obtaining permission from the National Bank of the Republic of Belarus.
• Simplification of the procedure for recruiting qualified foreign specialists by resident companies of the High-Tech Park, including the abolition of the recruitment permit, the simplified procedure for obtaining a work permit, and the visa-free regime for the founders and employees of resident companies with a term of continuous stay of up to 180 days.{{citation needed|date=August 2020}}

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Based on the public decision issued by the Ministry of Finance of Georgia in 2019,{{Cite web |url = https://matsne.gov.ge/ka/document/view/4601215?publication=0 |title = კრიპტოაქტივის და მის მოსაპოვებლად გამოთვლითი სიჩქარის (სიმძლავრის) მიწოდების ოპერაციების გადასახადებით დაბეგვრის თაობაზე - Matsne.gov.ge |date = 28 June 2019 |access-date = |website = |publisher = |last = |first = |archive-date = 21 October 2021 |archive-url = https://web.archive.org/web/20211021130415/https://matsne.gov.ge/ka/document/view/4601215?publication=0 |url-status = live }} crypto, by its very nature, is not "sourced" in any specific geographical location, meaning that it is not considered "Georgian sourced". This type of income would come under the 0% tax on capital gains derived from crypto trading laws.{{Citation needed|date=April 2024}}

|15px Ban on mining{{Cite web|date=2022-01-16|title=Panic as Kosovo pulls the plug on its energy-guzzling bitcoin miners|url=https://www.theguardian.com/technology/2022/jan/16/panic-as-kosovo-pulls-the-plug-on-its-energy-guzzling-bitcoin-miners|access-date=2022-01-22|website=the Guardian|language=en|archive-date=21 January 2022|archive-url=https://web.archive.org/web/20220121105412/https://www.theguardian.com/technology/2022/jan/16/panic-as-kosovo-pulls-the-plug-on-its-energy-guzzling-bitcoin-miners|url-status=live}}

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In January 2022, coinciding with an energy crisis, Kosovo outlawed all cryptocurrency mining. According to BBC News, cryptocurrency mining "is particularly popular in northern areas of Kosovo, where ethnic Serbs do not recognise the state's independence and refuse to pay electricity bills".{{cite news |title=Kosovo bans cryptocurrency mining after blackouts |url=https://www.bbc.com/news/world-europe-59879760 |access-date=6 January 2022 |work=BBC News |date=5 January 2022 |archive-date=6 January 2022 |archive-url=https://web.archive.org/web/20220106002651/https://www.bbc.com/news/world-europe-59879760 |url-status=live }}

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As of 2014, from the point of view of the current Russian legislation, cryptocurrency is a monetary substitute. According to article 27 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", the issue of monetary surrogates in the Russian Federation is prohibited.{{cite web|title=On the use of private "virtual currencies" (cryptocurrencies)|url=https://www.cbr.ru/press/PR/?file=27012014_1825052.htm|publisher=Press Service of The Central Bank of Russia|date=27 January 2014|access-date=17 January 2020|archive-date=12 September 2017|archive-url=https://web.archive.org/web/20170912074356/http://cbr.ru/press/PR/?file=27012014_1825052.htm|url-status=live}}

As of November 2016, bitcoins were "not illegal" according to the Federal Tax Service of Russia.{{Cite web|url=http://npaed.ru/en/|title=An unofficial translation of the letter from the Federal Tax Service of Russia "On the measures regarding the exercise of control over the circulation of cryptocurrencies"|publisher=Russian E-Money Association|access-date=20 December 2016|archive-date=25 August 2018|archive-url=https://web.archive.org/web/20180825143215/http://npaed.ru/en/|url-status=live}} Deputy Finance Minister of the Russian Federation Alexei Moiseev said in September 2017 it's "probably illegal" to accept cryptocurrency payments.{{Cite news|url=http://www.interfax.ru/business/578355|title=Замминистра финансов РФ назвал незаконными расчеты в криптовалютах|date=8 September 2017|work=Interfax.ru|access-date=16 September 2017|language=ru-RU|archive-date=3 April 2019|archive-url=https://web.archive.org/web/20190403104507/https://www.interfax.ru/business/578355|url-status=live}} However, bitcoin market sites are blocked, and court decisions state that bitcoin is a currency surrogate which is outlawed in the territory of the Russian Federation.{{cite web|url=https://primorsky--spb.sudrf.ru/modules.php?name=sud_delo&srv_num=1&name_op=doc&number=84460799&delo_id=1540005&new=&text_number=1|title=Приморский районный суд города Санкт-Петербурга|website=Primorsky--spb.sudrf.ru|access-date=22 March 2019|archive-date=18 May 2020|archive-url=https://web.archive.org/web/20200518074137/https://primorsky--spb.sudrf.ru/modules.php?name=sud_delo&srv_num=1&name_op=doc&number=84460799&delo_id=1540005&new=&text_number=1|url-status=live}}

In 2017, the Central Bank of Russia and Rosfinmonitoring in their informational appeals have repeatedly warned Russian citizens that all operations with cryptocurrency are speculative and carry a high risk of loss of value. The Central Bank of Russia states that: "Most operations with cryptocurrencies are performed outside the legal regulation of both the Russian Federation and most other states. Cryptocurrencies are not guaranteed or provided by the Bank of Russia."{{cite web|title=On the use of "virtual currencies" in transactions, in particular, Bitcoin|url=https://www.cbr.ru/press/pr/?file=04092017_183512if2017-09-04T18_31_05.htm|publisher=Press Service of The Central Bank of Russia|date=4 September 2017|access-date=17 January 2020|archive-date=8 September 2017|archive-url=https://web.archive.org/web/20170908060804/http://www.cbr.ru/press/pr/?file=04092017_183512if2017-09-04T18_31_05.htm|url-status=live}}

As of 2021, Putin said Russia accepts the role of cryptocurrencies, and that cryptocurrencies can be used for payment.[https://www.bloomberg.com/news/articles/2021-10-14/putin-defends-cryptocurrencies-amid-global-regulation-push Putin Says He Accepts Crypto’s Role in Making Payments] {{Webarchive|url=https://web.archive.org/web/20211014235206/https://www.bloomberg.com/news/articles/2021-10-14/putin-defends-cryptocurrencies-amid-global-regulation-push |date=14 October 2021 }}, Bloomberg News, 14 October 2021, retrieved 15 October 2021.

In January 2022, the Central Bank of Russia proposed to ban "all cryptocurrency issuance and operations, stop banks from investing in cryptocurrencies, block exchanging crypto for traditional currency, and introduce legal liability for using crypto in purchases" citing systemic financial risk.{{Cite news|url=https://www.ft.com/content/54433e18-7442-4804-9fec-f0f934bf8b4e|title=Russia's central bank proposes ban on crypto trading and mining|first1=Max|last1=Seddon|first2=Eva|last2=Szalay|newspaper=Financial Times|date=20 January 2022|access-date=28 January 2022|archive-date=28 January 2022|archive-url=https://web.archive.org/web/20220128072458/https://www.ft.com/content/54433e18-7442-4804-9fec-f0f934bf8b4e|url-status=live}} According to Bloomberg News and Meduza, the Federal Security Service convinced the Central Bank to ban cryptocurrencies in Russia, as they are used to finance the opposition and independent media.{{Cite news|title=Bank of Russia Seeks to Outlaw Mining and Trading of Crypto|url=https://www.bloomberg.com/news/articles/2022-01-20/russia-s-fsb-tells-nabiullina-to-ban-crypto-to-defund-opposition|access-date=2022-01-20|newspaper=Bloomberg.com|date=20 January 2022|archive-date=28 January 2022|archive-url=https://web.archive.org/web/20220128172243/https://www.bloomberg.com/news/articles/2022-01-20/russia-s-fsb-tells-nabiullina-to-ban-crypto-to-defund-opposition|url-status=live}}{{Cite web|title=Bloomberg: ФСБ убедила Центробанк запретить криптовалюты в России, так как они используются для финансирования "иностранных агентов"|url=https://meduza.io/news/2022/01/20/bloomberg-fsb-ubedila-tsentrobank-zapretit-kriptovalyuty-v-rossii-tak-kak-oni-ispolzuyutsya-dlya-finansirovaniya-inostrannyh-agentov|access-date=2022-01-20|website=Meduza|language=ru|archive-date=28 January 2022|archive-url=https://web.archive.org/web/20220128094320/https://meduza.io/news/2022/01/20/bloomberg-fsb-ubedila-tsentrobank-zapretit-kriptovalyuty-v-rossii-tak-kak-oni-ispolzuyutsya-dlya-finansirovaniya-inostrannyh-agentov|url-status=live}} In February 2022, the Russian government eventually announced it would support, legalize, and regulate cryptocurrencies, and not ban them.{{Cite web|title=Press review: What Macron told Zelensky and Russia moves to regulate cryptocurrency|url=https://tass.com/pressreview/1400067|access-date=2022-02-09|website=TASS|archive-date=9 February 2022|archive-url=https://web.archive.org/web/20220209163858/https://tass.com/pressreview/1400067|url-status=live}}

In July 2024, Russia regulated mining and allowed businesses to use cryptocurrencies in international trade while keeping the existing ban on domestic cryptocurrency payments.{{Cite news |date=2024-07-30 |title=Russia Races to Legalize Crypto as Sanctions Weigh On Companies |url=https://www.bloomberg.com/news/articles/2024-07-30/russia-races-to-legalize-crypto-as-sanctions-weigh-on-companies |access-date=2024-07-31 |work=Bloomberg.com |language=en}}{{cite news|url=https://www.reuters.com/technology/russia-launch-international-payments-crypto-before-end-2024-2024-07-30/|title=Russia to allow crypto payments in international trade to counter sanctions|date=July 30, 2024|first=Gleb |last=Bryanski|website=Reuters}}

|15px Legal / 15px Illegal to buy with local currency

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On 16 March 2022, the president of Ukraine signed the Virtual Asset Bill into law.[https://www.cnbc.com/2022/03/17/ukraine-legalizes-cryptocurrency-sector-as-donations-pour-in.html Ukraine legalizes crypto sector as digital currency donations continue to pour in] {{Webarchive|url=https://web.archive.org/web/20220329165730/https://www.cnbc.com/2022/03/17/ukraine-legalizes-cryptocurrency-sector-as-donations-pour-in.html |date=29 March 2022 }}, 17 March 2022 On 22 April, the Central Bank banned purchasing cryptocurrencies with local currency and made the monthly limit of $3300 for purchases with foreign currencies.[https://markets.businessinsider.com/news/currencies/ukraine-bitcoin-ban-local-currency-hyrvnia-capital-flight-russia-war-2022-4 Ukraine's central bank is banning bitcoin purchases made with the hyrvnia to prevent capital from fleeing the war-ravaged country] {{Webarchive|url=https://web.archive.org/web/20220422224403/https://markets.businessinsider.com/news/currencies/ukraine-bitcoin-ban-local-currency-hyrvnia-capital-flight-russia-war-2022-4 |date=22 April 2022 }}, 22 April 2022

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Denmark's Financial Supervisory Authority issued a statement declaring that bitcoin is not a currency and stating that it will not regulate its use.{{r|"regulation"|page=Denmark}}

On 17 December 2013, Denmark's Financial Supervisory Authority (FSA) has issued a statement that echoes EBA's warning. {{As of|2017}}, FSA says that doing business with bitcoin does not fall under its regulatory authority and therefore FSA does not prevent anyone from opening such businesses.{{cite web |url=http://www.finanstilsynet.dk/da/Nyhedscenter/Pressemeddelelser/2013/Advarsel-mod-virtuelle-valutaer-bitcom-mfl-2013.aspx |title=Advarsel mod virtuelle valutaer |trans-title=Warning against virtual currencies |publisher=Financial Supervisory Authority |date=17 December 2013 |language=da |archive-url=https://web.archive.org/web/20131217113641/http://www.finanstilsynet.dk/da/Nyhedscenter/Pressemeddelelser/2013/Advarsel-mod-virtuelle-valutaer-bitcom-mfl-2013.aspx |archive-date=17 December 2013}} FSA's chief legal adviser says that Denmark might consider amending existing financial legislation to cover virtual currencies.{{cite web|last=Schwartzkopff|first=Frances|title=Bitcoins Spark Regulatory Crackdown as Denmark Drafts Rules|url=http://www.businessweek.com/news/2013-12-17/bitcoin-rules-drafted-in-denmark-as-regulator-warns-against-use|archive-url=https://web.archive.org/web/20131218191849/http://www.businessweek.com/news/2013-12-17/bitcoin-rules-drafted-in-denmark-as-regulator-warns-against-use|url-status=dead|archive-date=18 December 2013|access-date=24 December 2013}}

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In Estonia, the use of bitcoins is not regulated or otherwise controlled by the government.{{r|"regulation"|page=Estonia}}

The Estonian Ministry of Finance have concluded that there is no legal obstacles to use bitcoin-like crypto currencies as payment method. Traders must therefore identify the buyer when establishing a business relationship or if the buyer acquires more than 1,000 euros of the currency in a month.{{Cite news|url=http://majandus24.postimees.ee/3776225/analueues-olemuslikke-takistusi-bitcoini-kasutamise-seadustamiseks-pole|title=Analüüs: olemuslikke takistusi Bitcoini kasutamise seadustamiseks pole|work=Majandus|access-date=15 March 2017|language=et|archive-date=16 March 2017|archive-url=https://web.archive.org/web/20170316113337/http://majandus24.postimees.ee/3776225/analueues-olemuslikke-takistusi-bitcoini-kasutamise-seadustamiseks-pole|url-status=live}}

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The Finnish Tax Administration has issued instructions for the taxation of virtual currencies, including the bitcoin.{{r|"regulation"|page=Finland}}{{cite web|url=https://www.vero.fi/syventavat-vero-ohjeet/ohje-hakusivu/48411/virtuaalivaluuttojen_tuloverotu/|title=Virtuaalivaluuttojen tuloverotus|website=Verohallinto|access-date=22 March 2019|archive-date=22 August 2017|archive-url=https://web.archive.org/web/20170822170627/https://www.vero.fi/syventavat-vero-ohjeet/ohje-hakusivu/48411/virtuaalivaluuttojen_tuloverotu/|url-status=live}} Rather than a currency or a security, a bitcoin transaction is considered a private contract equivalent to a contract for difference for tax purposes. Purchases of goods with bitcoin or conversion of bitcoin into legal currency "realizes" the value and any increase in price will be taxable; however, losses are not tax-deductible. Mined bitcoin is considered earned income.

Ruling 034/2014 by the Finnish Central Board of Taxes (CBT) stated that commission fees charged on bitcoin purchases by an exchange market were, under the EU VAT Directive, banking services and therefore VAT exempt. This is because the court classified bitcoins as payment instruments - whereas most countries treat their use as an unregulated method for the exchange of goods, or even as a crime.{{cite web | url = http://www.internationaltaxreview.com/Article/3400689/Tax-Disputes/Finland-recognises-Bitcoin-services-as-VAT-exempt.html | title = Finland recognises Bitcoin services as VAT exempt | author = Joe Stanley-Smith | date = 14 November 2014 | access-date = 15 November 2014 | publisher = International Tax Review | archive-date = 18 November 2014 | archive-url = https://web.archive.org/web/20141118034035/http://www.internationaltaxreview.com/Article/3400689/Tax-Disputes/Finland-recognises-Bitcoin-services-as-VAT-exempt.html | url-status = live }}{{cite web|url=https://www.vero.fi/syventavat-vero-ohjeet/ennakkoratkaisut/54360/kvl034201/|title=KVL:034/2014|website=Verohallinto|access-date=22 March 2019|archive-date=31 July 2017|archive-url=https://web.archive.org/web/20170731225540/https://www.vero.fi/syventavat-vero-ohjeet/ennakkoratkaisut/54360/kvl034201/|url-status=live}}

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According to a 2014 opinion, from the Central Bank of Iceland "there is no authorization to purchase foreign currency from financial institutions in Iceland or to transfer foreign currency across borders on the basis of transactions with virtual currency. For this reason alone, transactions with virtual currency are subject to restrictions in Iceland."{{cite web | url=http://www.cb.is/publications-news-and-speeches/news-and-speeches/news/2014/03/19/Significant-risk-attached-to-use-of-virtual-currency/ | title=Significant risk attached to use of virtual currency | publisher=The Central Bank of Iceland | work=cb.is | date=19 March 2014 | access-date=17 June 2015 | archive-date=11 April 2018 | archive-url=https://web.archive.org/web/20180411145710/https://www.cb.is/publications-news-and-speeches/news-and-speeches/news/2014/03/19/Significant-risk-attached-to-use-of-virtual-currency | url-status=dead }} This does not stop{{cite news|author1=Fidel Martinez |author2=Rob Wile |title=U.S. hesitation is chasing Bitcoin to Europe|url=http://fusion.net/story/17405/u-s-hesitation-is-chasing-bitcoin-to-europe/|access-date=8 January 2015|date=23 September 2014|archive-date=27 August 2016|archive-url=https://web.archive.org/web/20160827133834/http://fusion.net/story/17405/u-s-hesitation-is-chasing-bitcoin-to-europe/|url-status=dead}} businesses in Iceland from mining bitcoins.{{cite news|author1=Nathaniel Popper|title=Into the Bitcoin Mines|url=https://dealbook.nytimes.com/2013/12/21/into-the-bitcoin-mines/|access-date=9 December 2014|work=Deal Book New York Times|publisher=New York Times Company|date=21 December 2013|archive-date=3 May 2019|archive-url=https://web.archive.org/web/20190503131604/https://dealbook.nytimes.com/2013/12/21/into-the-bitcoin-mines/|url-status=live}}

The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency bitcoin, according to the Icelandic Foreign Exchange Act".{{cite news|title=Höftin stöðva viðskipti með Bitcoin (Controls suspend trading in bitcoin)|work=mbl.is|publisher=Morgunblaðið|language=is|date=19 December 2013|access-date=19 December 2013|url=http://www.mbl.is/vidskipti/frettir/2013/12/19/hoftin_stodva_vidskipti_med_bitcoin/|archive-date=26 November 2018|archive-url=https://web.archive.org/web/20181126075949/https://www.mbl.is/vidskipti/frettir/2013/12/19/hoftin_stodva_vidskipti_med_bitcoin/|url-status=live}}

On 12 March 2017, the Central Bank amended its rules. With the new rules, wide and general exemptions have been granted from the restrictions of the Foreign Exchange Act No. 87/1992.{{cite web | url=https://www.government.is/library/Files/greinargerd_okt17-2_enska.pdf | title=Progress of the Plan for Removal of Capital Controls | publisher=The Ministry of Finance | work=ministryoffinance.is | date=25 April 2017 | access-date=5 June 2017 | archive-date=11 April 2018 | archive-url=https://web.archive.org/web/20180411152147/https://www.government.is/library/Files/greinargerd_okt17-2_enska.pdf | url-status=live }}

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Bank of Lithuania released a warning on 31 January 2014, that bitcoin is not recognized as legal tender in Lithuania and that bitcoin users should be aware of the high risks that come with the usage of it.{{cite news |title=Lietuvos bankas apsisprendė dėl bitkoinų |url=http://vz.lt/article/2014/1/31/lietuvos-bankas-perspeja-del-bitkoinu |date=31 January 2014 |publisher=Verslo žinios |access-date=31 January 2014 |archive-date=9 July 2015 |archive-url=https://web.archive.org/web/20150709140206/http://vz.lt/article/2014/1/31/lietuvos-bankas-perspeja-del-bitkoinu |url-status=live }}

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The Norwegian Tax Administration stated in December 2013 that they do not define bitcoin as money but regard it as an asset. Profits are subjected to wealth tax. In business, use of bitcoin falls under the sales tax regulation.Saleha Mohsin (13 December 2013) [https://www.bloomberg.com/news/2013-12-12/bitcoins-fail-real-money-test-in-scandinavia-s-wealthiest-nation.html Bitcoins Fail Currency Test in Scandinavia’s Richest Nation] {{Webarchive|url=https://web.archive.org/web/20141228194531/http://www.bloomberg.com/news/2013-12-12/bitcoins-fail-real-money-test-in-scandinavia-s-wealthiest-nation.html |date=28 December 2014 }} Bloomberg. Retrieved 13 December 2013

The Norwegian government stated in February 2017 that they would not levy VAT on the purchase or sale of bitcoin.{{Cite web|url=https://www.regjeringen.no/no/aktuelt/bitcoin-er-unntatt-fra-merverdiavgift/id2538128/|title=Bitcoin er unntatt fra merverdiavgift|last=Finansdepartementet|date=9 February 2017|website=Regjeringen.no|language=no|access-date=2 April 2017|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215122033/https://www.regjeringen.no/no/aktuelt/bitcoin-er-unntatt-fra-merverdiavgift/id2538128/|url-status=live}}

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The Swedish Tax Agency has given a preliminary ruling on Value Added Tax (VAT) on bitcoins, stating that trade in bitcoins is not subject to Swedish VAT, but is instead subject to the Finansinspektionen (Financial Supervisory Authority) regulations and treated as a currency. The decision has been appealed by the Swedish Tax Authority.{{r|"regulation"|page=Sweden}}

The Swedish jurisdiction is in general quite favorable for bitcoin businesses and users as compared to other countries within the EU and the rest of the world. The governmental regulatory and supervisory body Swedish Financial Supervisory Authority (Finansinspektionen) have legitimized the fast growing industry by publicly proclaiming bitcoin and other digital currencies as a means of payment. For certain businesses interacting with fiat (mainly exchanges) the current regulation dictates that an application for approval/license must be filed and all the AML/CTF and KYC regulations applicable to more traditional financial service providers must be followed.

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No regulation on the use of bitcoins.

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There is not a single word in Bulgarian laws about bitcoin. People owe 10% tax if they made a profit trading.

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The use of bitcoin is not regulated in Cyprus.{{r|"regulation"|page=Cyprus}}

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No specific legislation on bitcoins exists in Greece.{{r|"regulation"|page=Greece}}

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Italy does not regulate bitcoin use by private individuals.{{r|"regulation"|page=Italy}}

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{{As of|2017}}, Malta does not have any regulations specifically pertaining to bitcoins.{{r|"regulation"|page=Malta}} In 2017, the country's prime minister Joseph Muscat announced the approval of a national strategy to promote bitcoin and blockchain technology. Muscat specifically addressed the bitcoin blockchain's ability to handle, store and process sensitive data in an immutable and decentralized ecosystem.{{cite news|url=http://www.maltatoday.com.mt/business/technology/76459/malta_set_for_revolutionary_national_blockchain_strategy_#.WP8gSojyhPZ/|title=Malta set for 'revolutionary' national blockchain strategy|last1=Diacono|first1=Tim|date=20 April 2017|work=MaltaToday|access-date=25 April 2017|archive-date=24 June 2019|archive-url=https://web.archive.org/web/20190624141015/http://www.maltatoday.com.mt/business/technology/76459/malta_set_for_revolutionary_national_blockchain_strategy_#.WP8gSojyhPZ/|url-status=live}}

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No specific legislation on bitcoins or cryptocurrency exists in North Macedonia.

In 2016, the National Bank of the Republic of North Macedonia published a press release regarding an investigation it made into ONECOIN, and discouraged the citizens from investing in it since it was most likely a scam. In the same press release, the NBRM quoted the law on Foreign Exchange Operations, but since cryptocurrencies do not constitute a foreign currency as they are quoted by the law, it leaves them unregulated.{{cite news|url=http://www.nbrm.mk/ns-newsarticle-soopshtieniie_na_nbrm_28_9_2016.nspx|title=Announcement by NBRM|date=28 September 2016|work=National Bank of Republic of North Macedonia|access-date=21 June 2018|archive-date=23 June 2018|archive-url=https://web.archive.org/web/20180623233004/http://www.nbrm.mk/ns-newsarticle-soopshtieniie_na_nbrm_28_9_2016.nspx|url-status=live}}

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In 2013, the Bank of Portugal stated that Bitcoin was not a safe currency, as their issuance lacked oversight or prudential requirements. As of 2014, Portugal had no specific legal framework for Bitcoin. {{r|"regulation"|page=Portugal}}

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Transactions in bitcoins are subject to the same laws as barter transactions.{{r|"regulation"|page=Spain}}

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In July 2013, the Minister of Finance expressed concerns over the use of Bitcoin for money laundering, but indicated that government intervention did not yet appear necessary.{{r|"regulation"|page=Belgium}}

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The French Ministry of Finance issued regulations on 11 July 2014 pertaining to the operation of virtual currency professionals, exchanges, and taxation.{{cite web|title=Réguler les monnaies virtuelles|url=http://proxy-pubminefi.diffusion.finances.gouv.fr/pub/document/18/17768.pdf|publisher=Ministre des Finances|access-date=6 June 2016|archive-date=5 August 2016|archive-url=https://web.archive.org/web/20160805082934/http://proxy-pubminefi.diffusion.finances.gouv.fr/pub/document/18/17768.pdf|url-status=live}}

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The Central Bank of Ireland was quoted in Dáil Éireann in December 2013 as stating that it does not regulate bitcoin, and that bitcoin is not legal tender in the European Union.{{r|"regulation"|page=Ireland}}

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The Commission de Surveillance du Secteur Financier has issued a communication in February 2014 acknowledging the status of currency to the bitcoin and other cryptocurrencies.{{cite web|title=Communique virtual currencies|url=http://www.cssf.lu/fileadmin/files/Publications/Communiques/Communiques_2014/Communique__virtual_currencies_140214.pdf|publisher=Commission de Surveillance du Secteur Financier|access-date=15 October 2015|archive-date=11 January 2018|archive-url=https://web.archive.org/web/20180111192614/http://www.cssf.lu/fileadmin/files/Publications/Communiques/Communiques_2014/Communique__virtual_currencies_140214.pdf|url-status=dead}} The first BitLicence was issued in October 2015.{{Cite news|title=SnapSwap Granted License for EU Operations|url=https://chronicle.lu/category/business-1/13635-snapswap-granted-license-for-eu-operations|last=SG|date=12 October 2015|access-date=6 November 2019|work=Chronicle.lu|archive-date=6 November 2019|archive-url=https://web.archive.org/web/20191106105503/https://chronicle.lu/category/business-1/13635-snapswap-granted-license-for-eu-operations|url-status=live}}

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{{As of|2013}}, "alternative virtual currencies" such as bitcoin are not classified as money and do not fall within the scope of the Act on Financial Supervision of the Netherlands.{{r|"regulation"|page=Netherlands}} When dealing with cryptocurrencies one must declare them and pay taxes to the Dutch Tax and Customs Administration.{{Cite news|title=Cryptocurrencies (like bitcoin)|url=https://www.belastingdienst.nl/wps/wcm/connect/nl/werk-en-inkomen/content/cryptovaluta|last=|date=24 January 2023|access-date=24 January 2023|work=belastingdienst.nl|archive-date=24 January 2023|archive-url=https://web.archive.org/web/20230124115209/https://www.belastingdienst.nl/wps/wcm/connect/nl/werk-en-inkomen/content/cryptovaluta|url-status=live}}

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{{As of|2013}}, the government of the United Kingdom has stated that bitcoin is unregulated and that it is treated as a 'foreign currency' for most purposes, including VAT/GST.{{r|"regulation"|page=United Kingdom}}

Bitcoin is treated as 'private money'. When bitcoin is exchanged for sterling or for foreign currencies, such as euro or dollar, no VAT will be due on the value of the bitcoins themselves. However, in all instances, VAT will be due in the normal way from suppliers of any goods or services sold in exchange for bitcoin or other similar cryptocurrency. Profits and losses on cryptocurrencies are subject to capital gains tax.{{cite web|title=Tax treatment of activities involving Bitcoin and other similar cryptocurrencies|url=http://www.hmrc.gov.uk/briefs/vat/brief0914.htm|publisher=HM Revenue & Customs|access-date=11 March 2014|archive-date=9 March 2014|archive-url=https://web.archive.org/web/20140309033700/http://www.hmrc.gov.uk/briefs/vat/brief0914.htm|url-status=live}}

In March 2022, the Financial Conduct Authority (FCA) declared that all cryptocurrency ATMs in the country were illegal, as none of the ATM's operators had successfully registered with the agency. The FCA cited a failure to comply with know your customer laws, as well as the high risk to customers, due to a lack of regulation and protection.{{cite news |last1=Moon |first1=M. |title=UK's financial regulator orders shutdown of all Bitcoin ATMs |url=https://www.engadget.com/uk-orders-bitcoin-atm-shutdown-125830919.html |access-date=11 March 2022 |work=Engadget |date=11 March 2022 |archive-date=11 March 2022 |archive-url=https://web.archive.org/web/20220311145437/https://www.engadget.com/uk-orders-bitcoin-atm-shutdown-125830919.html |url-status=live }}{{cite news |last1=Titcomb |first1=James |title=Bitcoin cashpoints forced to shut down after being declared illegal |url=https://www.telegraph.co.uk/business/2022/03/11/bitcoin-cashpoints-forced-shut-declared-illegal/ |access-date=11 March 2022 |work=The Telegraph |date=11 March 2022 |archive-date=11 March 2022 |archive-url=https://web.archive.org/web/20220311092308/https://www.telegraph.co.uk/business/2022/03/11/bitcoin-cashpoints-forced-shut-declared-illegal/ |url-status=live }}

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In December 2013, the governor of the Reserve Bank of Australia (RBA) indicated in an interview about bitcoin legality stating, "There would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to. There's no law against that, so we do have competing currencies."{{cite web |work=JHT |url=http://www.afr.com/p/national/glenn_stevens_says_bitcoins_show_GWLQFcefJfF4RmiE0Z08AJ |title=Glenn Stevens says Bitcoins show promise, but so did tulips |last=Hartge-Hazelman |first=Bianca |publisher=The Australian Financial Review |date=13 December 2013 |access-date=21 September 2014 |archive-date=21 October 2014 |archive-url=https://web.archive.org/web/20141021091031/http://www.afr.com/p/national/glenn_stevens_says_bitcoins_show_GWLQFcefJfF4RmiE0Z08AJ |url-status=live }} Beginning in April 2018, Australian digital currency exchanges must register with the Australian Transaction Reports and Analysis Centre and implement "know your customer" policies to comply with new anti-money laundering legislation.{{Cite web|url=https://www.austrac.gov.au/new-australian-laws-regulate-cryptocurrency-providers|title=New Australian laws to regulate cryptocurrency providers | AUSTRAC|website=www.austrac.gov.au|access-date=10 June 2021|archive-date=4 June 2021|archive-url=https://web.archive.org/web/20210604002300/https://www.austrac.gov.au/new-australian-laws-regulate-cryptocurrency-providers|url-status=live}}

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The Reserve Bank of New Zealand states: "Non-banks do not need our approval for schemes that involve the storage and/or transfer of value (such as 'bitcoin') – so long as they do not involve the issuance of physical circulating currency (notes and coins)."{{r|"regulation"|page=New Zealand}}

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Prime Minister Sitiveni Rabuka is a proponent of cryptocurrencies and has even planned to make bitcoin legal tender as soon as 2023.{{citation needed|date=January 2023}}

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The government officially supports the use of blockchain technologies, including cryptocurrencies.{{cite web | url=https://www.rnz.co.nz/international/pacific-news/438341/tuvalu-chases-digital-immortality-on-a-blockchain | title=Tuvalu chases digital immortality on a blockchain | website=Radio New Zealand | date=14 March 2021 | access-date=5 January 2023 | archive-date=5 January 2023 | archive-url=https://web.archive.org/web/20230105140135/https://www.rnz.co.nz/international/pacific-news/438341/tuvalu-chases-digital-immortality-on-a-blockchain | url-status=live }}

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Legalised in 2021.{{cite web | url=https://www.financemagnates.com/cryptocurrency/news/crypto-ban-is-finally-lifted-in-vanuatu-after-lobbying-efforts-of-lawyers/ | title=Crypto Ban is Finally Lifted in Vanuatu after Lobbying Efforts of Lawyers | Finance Magnates | date=26 July 2021 | access-date=5 January 2023 | archive-date=5 January 2023 | archive-url=https://web.archive.org/web/20230105135338/https://www.financemagnates.com/cryptocurrency/news/crypto-ban-is-finally-lifted-in-vanuatu-after-lobbying-efforts-of-lawyers/ | url-status=live }}

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Decentralised autonomous organisations (DAOs), which are blockchain-based, are considered legal entities in the Marshall Islands.{{citation needed|date=January 2023}}

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The use of cryptocurrencies is officially supported by the government.{{cite web | url=https://www.aljazeera.com/economy/2021/12/6/palau-pop-18000-seeks-to-blaze-trail-with-official-crypto | title=Tiny Palau seeks to blaze trail with official crypto | access-date=5 January 2023 | archive-date=5 January 2023 | archive-url=https://web.archive.org/web/20230105135845/https://www.aljazeera.com/economy/2021/12/6/palau-pop-18000-seeks-to-blaze-trail-with-official-crypto | url-status=live }}

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The use of cryptocurrencies in Samoa is legal but discouraged by the Central Bank of Samoa.{{citation needed|date=January 2023}}

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Tonga plans to make bitcoin legal tender by the end of 2023. This has been planned since late 2021.{{cite web | url=https://www.rnz.co.nz/international/pacific-news/454865/tongan-mp-plans-bill-to-make-bitcoin-legal-tender | title=Tongan MP plans bill to make bitcoin legal tender | website=Radio New Zealand | date=3 November 2021 | access-date=5 January 2023 | archive-date=5 January 2023 | archive-url=https://web.archive.org/web/20230105135138/https://www.rnz.co.nz/international/pacific-news/454865/tongan-mp-plans-bill-to-make-bitcoin-legal-tender | url-status=live }}