Legality of bitcoin by country or territory

Cryptocurrency has generated consistent, and sometimes shocking returns over the past year. Since the first cryptocurrency emerged back in 2009; there has been rapid growth of the digital asset and we have seen the emergence of numerous other cryptocurrencies. There are over four thousand cryptocurrencies today, and more are being created constantly.

The hospitality industry is among the key sectors driving the adoption of cryptocurrencies. Find out how the hospitality sector is using Bitcoin. 

Many governments have attempted to ban or regulate Bitcoin with little success. While China banned all cryptocurrencies in 2021, making Bitcoin illegal in the country, other countries have not been so successful. While most countries still do not consider Bitcoin a legal currency, they have allowed its use.

Cryptocurrencies have become increasingly popular around the world in recent years, and in Bulgaria, it turns out, there is already a store where you can shop for basic necessities and pay with bitcoins.

A top EU financial regulator has renewed calls for a bloc-wide "ban" on the main form of bitcoin mining and sounded the alarm over the rising proportion of renewable energy devoted to crypto mining.

One thing to know before purchasing Bitcoin is that values can fluctuate drastically. Hype, speculation, and celebrity whims are some of the things that drive this fluctuation. While some people have made significant returns from their Bitcoin investments, others have lost big time. However, this shouldn't hinder you from venturing into crypto investment.

Ljubljana – Only a day after putting out a proposal on taxation of trading in cryptocurrencies, the Financial Administration (FURS) said it will amend the proposal amid a strong response from stakeholders to give taxpayers the option to chose between paying tax either on the profits they make or as a percentage of the cryptocurrency they cash in.

Ljubljana – The newspaper Finance approves of imposing a tax on earnings from cryptocurrencies in Tuesday’s commentary, but lambastes the Financial Administration’s proposal for a 10% tax on the sale value of cryptocurrencies as being unreasonable.

Indeed, Bitcoin has suffered several crashes since its introduction by Satoshi Nakamoto in 2009. However, this virtual currency has exhibited greater resilience, with its rising value over the years. Even with its high volatility, Bitcoin remains an excellent digital asset to buy.

In most countries, governments are indecisive about their stance on Bitcoin and other cryptocurrencies. While some countries have banned Bitcoin, others have allowed their citizens to use it freely. Many governments are yet to declare their stance on Bitcoin, while some are preparing for their official adoption. Countries like El Salvador are ready to use Bitcoin as a legal tender.