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Is Bitcoin Legal?

When dealing with money, you want to be on the safe side, and learning more about Bitcoin regulators’ opinions, licenses and tax laws can help you put your concerns about Bitcoin to rest.

There is no simple answer to the question, “Is Bitcoin legal?” It depends on where you live - check with your local regulators! Some countries have outright banned cryptocurrencies. Others urge their citizens not to invest in them, as they deem it unsafe. Still others are called crypto-friendly, due to good regulations. For example, New York has the Bitcoin BitLicense, for New York residents.

Bitcoin taxation is another issue you might want to look into. Again, there is no definitive answer to how is Bitcoin taxed, but some countries have already proposed their own taxation laws in regards to crypto.

Check your local laws and follow our articles on crypto regulation to say informed about the most recent developments.

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