Crypto still illegal in many countries. Regulators and governments in many countries still oppose Bitcoin cs and explicitly prohibit it.
However, there have been several countries that have legalized crypto coins, both for crypto mining, they also use as a legal means of payment and so on. It’s depending on the policies in each country.
Countries that have Legalized Crypto:
Crypto money or crypto assets is not specifically addressed in Finnish legislation. However, crypto assets are said to be subject to Finnish laws.
The central bank of Nigeria (CBN) has issued a statement that CBN has never banned cryptocurrency activities in the country. They do not limit the use of cryptocurrency and we do not prohibit people from trading on them.
Cryptocurrencies are not recognized as a means of payment in Ukraine. Bitcoin, Ethereum, or any other cryptocurrency does not exist in the system and is not recognized by the government. But digital coins are legal and many people use them for investment or as a means of payment.
On December 1, 2020, the government of the Russian Federation introduced the Bill on Amendments to Parts One and Two of the Tax Code of the Russian Federation. The bill was proposed by the Ministry of Finance, including provisions that would regulate the circulation and ownership of crypto money and determine responsibility for violations of the rules stipulated by the bill.
State Duma members are now working on amendments that would allow the use of cryptocurrency as a contractual means of payment. Digital financial assets are considered property under Russian law and changes will legalize crypto payments between parties to the contract.
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