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Countries that accept Bitcoin
Bitcoin is the most popular and recognized crypto currency today. It is also the largest and...
In Norway, The Norwegian Tax Administration defines Bitcoins not as money but as an asset which is
subject to wealth tax a...
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Countries that accept bitcoin

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Some countries think of Bitcoin as foreign currency, some shady scheme or illegal system. As a result, these countries have taken steps to limit or ban the use of Bitcoins. However many countries do see the value in Bitcoin and are accepting it as a legal monetary transaction.

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Countries that accept bitcoin

  1. 1. Countries that accept Bitcoin Bitcoin is the most popular and recognized crypto currency today. It is also the largest and most successful. It has been the most popular and wide-spread form of digital currencies poised to replace the currency systems in many countries. Although it has not been accepted by all countries, a majority of countries have fully or partially accepted it. Some countries think of Bitcoin as foreign currency, some shady scheme or illegal system. As a result, these countries have taken steps to limit or ban the use of Bitcoins. However many countries do see the value in Bitcoin and are accepting it as a legal monetary transaction. Here are the countries that accept bitcoin A few informative facts about various countries position on digital currencies are: In the United States, virtual currency systems have for the most part, been received favorably by people as an acceptable, legal and viable form of financial exchange. A statement issued by the Canadian Revenue Agency in 2013 regarding their tax rules and Bitcoin state all purchases of goods or services with Bitcoin is considered to be a barter transaction. In Australia, a business or company used to be able to freely trade using Bitcoins. The buying of Bitcoins or Bitcoin mining was completely legal and anyone could indulge in the activities of buying, selling and purchasing with Bitcoins. However in the past few months, the National Australia Bank has decided against using Bitcoin. In Belgium, Bitcoin has been allowed without any restrictions. In fact, the Finance Minister publicly declared his acceptance of the currency as a legal and viable system in the country. Other countries like Malaysia, Lithuania, Philippines, etc. have taken a less safe approach by declaring to their people that Bitcoin is not recognized as a legal tender in their countries and any risk while dealing in this currency system will be the sole responsibility of the user.
  2. 2. In Norway, The Norwegian Tax Administration defines Bitcoins not as money but as an asset which is subject to wealth tax and falls under the sales tax regulations. The list of countries accepting Bitcoin as legal and a formal means for financial transactions is growing with countries like Australia, Canada, Germany, Belgium, Russia, Denmark, Columbia, Hong Kong, Malaysia, Philippines, Thailand, Switzerland, Poland, US, UK, and Turkey understanding and embracing

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