Bitcoin is an electronic digital currency. This currency is not tangible for it is not in print form like most of the world’s currencies. It is usually referred as the internet money. Bitcoin was introduced in the year 2008 by a group of computer programmers.
Bitcoin is widely used in the European Union, though there is a regulation of bitcoin in selected jurisdictions. The regulations are based on the impact the currency has on the taxation system as well as on the national currency. China and Brazil are the only known countries to have had specific regulations on bitcoin. Below are a number of countries with their regulations on bitcoin.
Belgium
Bitcoin has not been regulated in Belgium. The government believes that bitcoin can be used in the country since it does not affect the pricing or the financial system in the country.
Argentina
Bitcoin has also not been regulated in Argentina. Although, bitcoin is not a legal currency since it is not issued by the government. For this reason, bitcoin is closely monitored so as to make conclusive decisions about its use in the country.
Alderney (Channels Island)
There is no official communication on the way bitcoin is used and regulated in this island. However, there are speculations that it is trying to be the bitcoin hub.
Canada
Bitcoin is not a legal tender as per the Canadian government. Despite this, Canada has not stipulated any specific regulations on bitcoin as well as its transactions.
Brazil
Brazil is the first country to have given an official statement on the regulations on bitcoin. Brazil formulated a law in 2013 that clearly stated all the principles to be followed in a payment procedure.
Chile
Chile is one country that has not yet accepted the use of bitcoin. However, bitcoin is widely used in the informal sector. Since the currency is not accepted in the country, there are no known regulations on it.
China
The use of bitcoin in china was banned. The central bank of China prohibited the use of bitcoin in the banking system as well as in payment institutions.
Croatia
In 2013, a formal report was released and it allowed the use of bitcoin in Croatia for it was considered legal.
Bitcoin is widely used in the European Union, though there is a regulation of bitcoin in selected jurisdictions. The regulations are based on the impact the currency has on the taxation system as well as on the national currency. China and Brazil are the only known countries to have had specific regulations on bitcoin. Below are a number of countries with their regulations on bitcoin.
Belgium
Bitcoin has not been regulated in Belgium. The government believes that bitcoin can be used in the country since it does not affect the pricing or the financial system in the country.
Argentina
Bitcoin has also not been regulated in Argentina. Although, bitcoin is not a legal currency since it is not issued by the government. For this reason, bitcoin is closely monitored so as to make conclusive decisions about its use in the country.
Alderney (Channels Island)
There is no official communication on the way bitcoin is used and regulated in this island. However, there are speculations that it is trying to be the bitcoin hub.
Canada
Bitcoin is not a legal tender as per the Canadian government. Despite this, Canada has not stipulated any specific regulations on bitcoin as well as its transactions.
Brazil
Brazil is the first country to have given an official statement on the regulations on bitcoin. Brazil formulated a law in 2013 that clearly stated all the principles to be followed in a payment procedure.
Chile
Chile is one country that has not yet accepted the use of bitcoin. However, bitcoin is widely used in the informal sector. Since the currency is not accepted in the country, there are no known regulations on it.
China
The use of bitcoin in china was banned. The central bank of China prohibited the use of bitcoin in the banking system as well as in payment institutions.
Croatia
In 2013, a formal report was released and it allowed the use of bitcoin in Croatia for it was considered legal.
0 Komentar untuk "Bitcoin Use"