Iran issued a statement banning the countrys banks and financial institutions from dealing with cryptocurrencies, citing money laundering and terrorism financing risks. 27 This is following another banking ban in Canada from Toronto Dominion (TD.) 28 United States Legal The.S. 78 Hong Kong Legal On, the Secretary for Financial Services and the Treasury addressed bitcoin in the Legislative Council stating that "Hong Kong at present has no legislation directly regulating bitcoins and other virtual currencies of a similar kind. 111 He clarified that while not illegal, bitcoin cannot be considered legal tender, and, in the light of the directives of the European Union, it is neither electronic money.
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If you're caught trading bitcoin or using bitcoin to buy goods in these six countries, you could go to jail. The statement reads: Bitcoin is not a legal tender of any country. The Act also states that cryptocurrency is limited to property values that are stored electronically on electronic devices, not a legal tender. Federal Tax Purposes; General Rules for Property Transactions Apply". Retrieved In February of 2014 the Central Bank of Jordan issued a warning against the currency, becoming the second government in the region to do so after Lebanon. The provisions of the decree "On the Development of Digital Economy" create of a legal basis for the circulation of digital currencies and tokens based on blockchain technology, so that resident companies of the High-Tech Park can provide the services of stock markets and exchange. "China Cracks Down on Bitcoin". Retrieved "Public Consultation Document". 51 Uzbekistan Legal On September 2nd 2018, a decree legalizing crypto trading also making it tax-free and mining in the country came into force, making Uzbekistan a crypto-friendly state. Bangladesh, bitcoin is not legal in Bangladesh. Because of these risks, the NBP and KNF warn against buying virtual currencies and investing in them.