The most comprehensive review of Bitcoin regulation in various countries (regions) around the world

There are huge differences in attitudes towards the legal status of Bitcoin among countries around the world, and many of these views are constantly changing.

In general, most countries in the world do not define the use of Bitcoin as illegal (except Bangladesh, Bolivia, Ecuador and Kyrgyzstan), but their attitudes towards whether to specifically regulate Bitcoin, whether to define Bitcoin as a currency, whether to support Bitcoin payments, and whether to impose taxes on Bitcoin transactions vary, showing varying degrees of encouragement or restriction.

This article provides a detailed introduction to the legal status and regulatory policies of Bitcoin in various countries.

By alliance

By country or region

Africa

America

Asia

Europe

Oceania

1. There are only a few countries in the world that ban and explicitly restrict Bitcoin:

1. Countries that prohibit the development of Bitcoin (restricting institutions and individuals from holding, trading, and using Bitcoin to purchase goods):

Bangladesh, Bolivia, Ecuador, Kyrgyzstan

2. Countries that restrict the development of Bitcoin (allowing individuals to hold and trade Bitcoin, but not supporting Bitcoin trading platforms or using Bitcoin to purchase goods and services):

China, Namibia

Second, most countries adopt an active regulatory strategy.

Among the countries that clearly define the legal status of Bitcoin are:

• Canada - Intangible Assets

• United States - Commodities, Assets

• Argentina - Commodities

• Israel - Taxable Assets

• Japan - Assets, legal payment methods

• Philippines - Legal Payment Methods

• Germany - Private Currency

• Norway - Assets

• Sweden – Currency

• Luxembourg – Currency

• United Kingdom – Private Funding

• Australia – Currency

The following have made clear tax requirements for Bitcoin:

• The European Union and Germany impose taxes on the purchase of goods and services with Bitcoin;

• Israel imposes taxes on bitcoin-to-fiat currency transactions;

• Finland taxes both the use of Bitcoin to purchase goods and the exchange of Bitcoin for fiat currency;

• Norway imposes property tax on Bitcoin, but does not tax Bitcoin-to-fiat currency exchanges;

• Sweden does not impose VAT on Bitcoin-to-fiat currency transactions;

• France imposes capital gains tax on Bitcoin;

• The UK imposes capital gains tax on gains and losses from Bitcoin assets, taxes on the purchase of goods and services with Bitcoin, and does not impose taxes on the exchange of Bitcoin for legal currency.

3. 24 countries and regions including South Korea, India, Switzerland, Australia, South Africa and Brazil have explicitly adopted a regulatory strategy of not interfering with the development of Bitcoin. Among them, Bitcoin trading platforms are relatively mature in various countries, and the development level of Bitcoin payments varies.

4. 18 countries and regions including Russia, Thailand, Finland and Malaysia have unclear attitudes towards Bitcoin regulation.