Is Bitcoin legal?

ledger nanoLedger Nano X trezorTrezor Model T
Cold Store Coins | Take Control of Your Assets | Miltary Grade Security

Not yet, but at the same time it's not illegal too. Many countries are coming up with regulations and many are thinking to impose ban on it. As you may already know it is impossible to stop it because no specific country controls it, it's a decentralized digital currency.

However, some rigorous laws can stop you from buying, selling and trading Bitcoin. Recent example is India, where RBI (Reserve Bank of India) had arbitrarily banned cryptocurrencies in India, but country's crypto community approached top court and after a long battle, Supreme Court of India struck down RBI's cryptocurrency ban.

As a result, now Indians can trade in cryptocurrencies at their own risk.

As of this writing, it's not a legal as well as illegal tender.

Before acquiring any cryptocurrency, make sure it's not considered as an illegal activity as per your country's law.

Comments