Any breach wikipedia this provision is punishable in accordance with the rabee and regulations in force. Retrieved 14 December Retrieved bitcoin March Retrieved 23 October Legal News reports indicate that bitcoins are being turkey in the country.
If you have any further queries, please contact:. Retrieved 19 March History Economics Legal status. Retrieved 6 July Retrieved 11 January Guidance for a risk-based approach.
Hottest Bitcoin News Daily For updates and exclusive offers, enter wikipedia e-mail below. Retrieved 18 December rabee However, turkey existing laws such as the Organised and Serious Crimes Ordinance provide sanctions against unlawful acts involving bitcoins, such as fraud or money laundering. Bitcoin is treated as 'private money'. Retrieved 11 January Bitcoin 31 January
That is unless new support is added. Seeing national currencies lose value against the Turkish Lira is not unexpected. Various currencies are going through similar struggles. The Chinese Yuan has been on a steady decline for quite some time now. Moreover, with financial turmoil brewing in the UK, Europe, and other Asian countries, the economic recovery remains highly unlikely.
As one would expect from a falling Turkish Lira value, the demand for Bitcoin is increasing. Not by a significant margin just yet, as using Bitcoin is a bit of a struggle in Turkey.
With very strict governmental controls, a lot of Internet users remain hesitant when it comes to cryptocurrency. That is only normal, although Bitcoin continues to gain more mainstream traction. As of right now, it appears one Bitcoin is worth close to Turkish Lira. This price has been going up, following the global market average price trend. As consumers in Turkey face more financial turmoil, Bitcoin becomes a lot more appealing all of a sudden. But no one should expect any significant mind shift taking place overnight either.
As of [update] , 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. In Estonia, the use of bitcoins is not regulated or otherwise controlled by the government. 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 business relationship or if the buyer acquires more than 1, euros of the currency in a month. The Finnish Tax Administration has issued instructions for the taxation of virtual currencies, including the bitcoin. Finland [] 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. 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.
According to a 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. On 12 March , 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.
Bank of Lithuania released a warning on 31 January , that bitcoin is not recognized as legal tender in Lithuania and that bitcoin users should be aware of high risks that come with the usage of it. The Norwegian Tax Administration stated in December that they don't 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.
The Norwegian government stated in February that they would not levy VAT on the purchase or sale of bitcoin. As of November declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia. The decision has been appealed by the Swedish Tax Authority. 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. There is not a single word in Bulgarian laws about bitcoin. No specific legislation on bitcoins exists in Greece. Italy does not regulate bitcoin use by private individuals.
As of [update] , Malta does not have any regulations specifically pertaining to bitcoins. Bitcoin has no specific legal framework in Portugal. Transactions in bitcoins are subject to the same laws as barter transactions. The Minister of Finance indicated that government intervention with regard to the bitcoin system does not appear necessary at the present time. The French Ministry of Finance issued regulations on 11 July pertaining to the operation of virtual currency professionals, exchanges, and taxation.
The Central Bank of Ireland was quoted in the Assembly of Ireland as stating that it does not regulate bitcoins. The Commission de Surveillance du Secteur Financier has issued a communication in February acknowledging the status of currency to the bitcoin and other cryptocurrencies. As of [update] , virtual currencies such as bitcoin do not fall within the scope of the Act on Financial Supervision of the Netherlands. 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. In December , 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.
The Reserve Bank of New Zealand states: From Wikipedia, the free encyclopedia. For a broader coverage related to this topic, see Bitcoin. This section needs expansion. You can help by adding to it. Relevant discussion may be found on the talk page. Accessed 25 September Retrieved 25 February Court of Justice of the European Union.
Retrieved 6 December Retrieved 23 October Retrieved 5 March Market, economics and regulation" PDF. European Parliamentary Research Service. Bitcoin regulation or plans therefor in selected countries. Retrieved 18 February Retrieved 8 July Guidance for a risk-based approach. Retrieved 6 March Retrieved 30 October South African Reserve Bank.
Retrieved 11 June Sandra Appel A security Agreement for Bitcoin: Retrieved 5 September Financial Crimes Enforcement Network. Retrieved 1 June Retrieved 22 April Trinidad and Tobago Guardian. Retrieved 23 February Banco Central do Brasil. Retrieved 17 November Superintendencia Financiera de Colombia.
Retrieved 20 October Banco Central del Ecuador. Retrieved 22 October National Bank of the Kyrgyz Republic. Retrieved 6 July Retrieved 21 August Retrieved 17 July Retrieved 17 June Turkish Banking Regulation and Supervision Agency. How close Bitcoin to be Legalized in Iran?
The Times of India. Retrieved 29 December The Hindu Business Line. Archived from the original on 30 December Retrieved 3 January Retrieved 16 December We're Not Giving Up Yet".
Retrieved 19 December Retrieved 8 November Archived from the original on 9 February Retrieved 6 October Retrieved 10 January Retrieved 18 January Archived from the original on Bitcoin is not Currency in Japanese ". Retrieved 28 April Retrieved 26 February Retrieved 21 September Retrieved 9 July Retrieved 17 April The central bank does not regulate it but the public is advised not to speculate on it ". Retrieved 15 October Retrieved 3 December Retrieved 2 March Retrieved 11 January Retrieved 7 May Retrieved 27 December Retrieved 29 October Retrieved 1 November Retrieved 25 August Retrieved 19 March Retrieved 14 December Retrieved 8 August Bitcoin nie jest nielegalny".
Retrieved 18 December Retrieved 28 January Retrieved 31 July Retrieved 3 February Retrieved 24 March Swiss Financial Market Supervisory Authority.
Retrieved 16 April Retrieved 28 November Archived from the original on 20 September Retrieved 20 September Make quick and easy purchases with Bitcoin". Retrieved 5 January Archived from the original on 17 December Retrieved 24 December Retrieved 15 March Retrieved 15 November The Central Bank of Iceland. Retrieved 8 January Deal Book New York Times. New Yotk Times Company.
Retrieved 9 December The Ministry of Finance. Retrieved 5 June Retrieved 31 January Retrieved 2 April Retrieved 20 December Retrieved 16 September Retrieved 25 April Retrieved 6 June Commission de Surveillance du Secteur Financier. Retrieved 19 October The Australian Financial Review. Retrieved 10 May History Economics Legal status. List of bitcoin companies List of bitcoin organizations List of people in blockchain technology. Lists of countries by laws and law enforcement rankings.
Legality of euthanasia Homicide by decade Law enforcement killings Legality of suicide Legality of assisted suicide. Censorship by country Book censorship by country Film censorship by country Internet censorship by country Map censorship Political censorship Video gaming censorship by country.
Freedom of movement by country In the air Abode. Corporate Corporate liability Competition Mergers and acquisitions Monopoly Legality of bitcoin by country or territory. List of international rankings List of top international rankings by country Lists by country. Retrieved from " https: Bitcoin Digital currencies Alternative currencies Financial cryptography Currency legislation Comparative law Cryptocurrencies Law-related lists Lists by country.
Uses authors parameter CS1 Icelandic-language sources is CS1 Norwegian-language sources no CS1 Russian-language sources ru Use dmy dates from January Articles to be expanded from April All articles to be expanded Articles containing potentially dated statements from All articles containing potentially dated statements Wikipedia articles needing factual verification from July Articles containing potentially dated statements from May All articles with unsourced statements Articles with unsourced statements from December Articles with unsourced statements from January Articles prone to spam from October Views Read Edit View history.
This page was last edited on 30 January , at By using this site, you agree to the Terms of Use and Privacy Policy. Illegal As of [update] bitcoin was legal in Algeria, but per the Huffington Post , "Algeria is going to ban bitcoin in the new Finance law of article of the law " [13] According to the "Journal Officiel" 28 December Legal As of 17 January , 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.
Legal In September the Bank of Namibia issued a position paper on Virtual Currencies entitled [23] wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services. Legal The Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use.
Legal Bitcoin would seem to be classified pursuant to the current provisions of the PPSA simply as an " intangible ". Legal Bitcoin is legal in Mexico as of Legal News reports indicate that bitcoins are being used in the country. Legal The Bank of Jamaica BoJ , the national Central Bank, has publicly declared that it must create opportunities for the exploitation of technologies including cryptocurrencies.
Legal Bitcoins may be considered money, but not legal currency. Illegal The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone in Legal Not regulated, according to a statement by the Central Bank of Brazil concerning cryptocurrencies, but is discouraged because of operational risks.
Legal There is no regulation on the use of bitcoins. Legal A 26 March by Superintendencia Financiera de Colombia states that the use of bitcoin is not regulated.