The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them.[1] Whereas, in the majority of countries the usage of cryptocurrency is not in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.[2]
Legal status of bitcoin
🟩Permissive (legal to use bitcoin, with minimal or no restrictions)
🟨Restricted (some legal restrictions on the usage of bitcoin)
🟪Contentious (interpretation of old laws, but bitcoin is not directly prohibited)
🟥Prohibited (full or partial prohibition on the use of bitcoin)
While some states have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified cryptocurrencies differently.