Is Cryptocurrency illegal?

[BrolySSJ]

Thank you for this information and clear direction.
At a time i was blaming my country for this striking setback.
With this explanation I have received from you loud and clear I will not blame my good country anymore.

After speaking to you yesterday about PayPal and its availability in Nigeria I did do a bit of research as to which country's PayPal is prominent in and which countries it is banned in, and it seems that Paypal is actually available in Nigeria. According to the research that I have done it seems that one of the banks in Nigeria has partnered with the PayPal company. This is known as first bank. Do you make use of this bank?

 

[GIFTMICHAEL]

After speaking to you yesterday about PayPal and its availability in Nigeria I did do a bit of research as to which country's PayPal is prominent in and which countries it is banned in, and it seems that Paypal is actually available in Nigeria. According to the research that I have done it seems that one of the banks in Nigeria has partnered with the PayPal company. This is known as first bank. Do you make use of this bank?

First Bank is actually my bank if that be the case I will confirm it. I will be happy to see that PayPal is working in my country honestly.
I will send email to my bank soon to comfirm if they have partner with this payment platform here in Nigeria.

 

[gammarays]

Exactly, there's a lot of benefits and help it can provide to people's financial status and even help countries in their transactions. I hope that it gets legalized to the countries that's still skeptical and closeminded about Cryptocurrencies.

Yes,I think the issue affecting crypto is it's nature. Since it can't be recovered when sent and it is anonymous, hackers and scammers have taken advantage of it to wreck havoc on people. I think government can regulate it to provide more security for the general public. Aside from that,it's volatile nature is not good especially when it losses value.

 

[LaylaG]

As far as I know a Cryptocurrency is digital currencyand the price of cryptocurrency is not affected by any economy of the world, it is determined by how valuable a cryptocurrency is in the crypto system, cryptocurrency is legal in almost 95% of the countries of the world.

 

[Judee201]

Cryptocurrency is legal, I haven't heard where cryptocurrency is illegal only in some cases where the government doesn't have full control, so they term to discourage people from trading with cryptocurrency.

Nonetheless, cryptocurrency is legal and you are save and secured trading with it.

 

[Nomad]

If you ask this question to a Chinese, he will say crypto currency transaction and bitcoin mining is illegal, but if you ask this same question to someone in El salvador, he will say bitcoin is a legal tender

 

[Aaron625]

It depends on the country. Many countries have made it legal. But there are countries where crypto is banned , the reason behind maybe they are used for illegal activities such as drugs and others.

 

[Grandeur]

Crypto currency itself as a means of transacting is not bad but just that some government in some countries has restricted the use of crypto in their country

 

[Mostee501]

Cryptocurrency isn't illegal is just that it's not accepted by all,countries that aren't accepting crypto is due to the fact that the feel it posses a threat to their local currency and others think it's a scam.

 

[Giannis]

There is an obvious reason why in some countries cryptocurrencies are illegal.And that it's because they do not have control unlike the real cash.As a result they are afraid of losing control with cryptocurrencies

 

[Yusuf]

Crypto currency exchange Business is not illegal and it can never be illegal. What I know is that there is a lot of manipulatuon in the market that is making people to lose their money

 

[Snazzy001]

Cryptocurrency has never been illegal at all, I recently became illegal in some countries because the government decided they don't want it anymore

 

[skyliequiz]

It is determined by the laws of your nation. Some nations have outright outlawed cryptocurrencies, while others are still attempting to impose restrictions. Because cryptocurrencies are still new and evolving, the rules governing them are also evolving.

 

[Sajweb]

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

When you say something is illegal it means it is unlawful. Generally, I don't think there are governmental laws against cryptocurrency, except in few countries. Although there are no general laws around crypto, most governments around the world frown at it. There have been cases of clamp down here and there.

So, it's not totally legal, but in most countries it allowed.

 

[Josemendez]

Exactly. What is seen as illegal is what the law forbids. For countries that have not made any stand on cryptocurrency , it is not illegal but for those that have banned it , using it is illegal

 

[Justin]

It is illegal in my home country. Police have caught people many times and sent to jail for trading, investing and mining crypto currencies. We don't know if the government will change the law

 

[Kelly5]

Cryptocurrencies is not an illegal money as it stands. It is not a legal means of exchange by any government except for a few now. But people agree to use it as a means of exchange which is a Matter of choice for them legally isn't?

 

[BrolySSJ]

This time is the time of Cryptocurrency. Which is getting success day by day. Many countries are accepting it as payment method.But still there are some countries which don't accept cryptocurrency as legit currency.
I just want to ask why they think Cryptocurrency is illegal?

Many countries actually consider cryptocurrency to be illegal because of the fact that it cannot be traced and its not a regulated financial system and as a result this can raise serious concerns for their current existing financial system.

 

[Josemendez]

Many countries actually consider cryptocurrency to be illegal because of the fact that it cannot be traced and its not a regulated financial system and as a result this can raise serious concerns for their current existing financial system.

Cryptocurrency is not as annoymous as we use to think of it back then. It is open to an extent as transactions can be traced from the sender to the receiver.

 

[Thinker009]

It's never illegal , I think most countries government actually see crypto currency as a threat to their financial institution and that's the reason they don't want to click for the adoption of crypto currency