Is Bitcoin legal in Malaysia? AskLegal.my

Bitcoin - The Currency of the Internet

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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Initial Coin Offerings (ICO)

A community dedicated to all things related to Initial Coin Offers (ICOs).
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Actual Money

This subreddit is for the discussion of actual money (legal tender). Please note that discussion about other things, such as Chuck E. Cheese's tokens, Disney dollars and Bitcoin is considered off topic and will be removed.
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Bitcoin Price Reversal, Bitcoin Legal Tender, Bitcoin Gold Manipulation & "Not Legal, But Necessary"

Bitcoin Price Reversal, Bitcoin Legal Tender, Bitcoin Gold Manipulation & submitted by Thornsb to BLOCKCHAINEDNews [link] [comments]

Iceland's Pirate Party covered by Time. Talks about their plans of shifting power back to the people and making bitcoin legal tender

Iceland's Pirate Party covered by Time. Talks about their plans of shifting power back to the people and making bitcoin legal tender submitted by chabes to Bitcoin [link] [comments]

Tim Draper Advises Argentina's President To Make Bitcoin Legal Tender

Tim Draper Advises Argentina's President To Make Bitcoin Legal Tender submitted by ethnewsbot to ETHInsider [link] [comments]

Venture Capitalist Tim Draper to Argentinian President: Make Bitcoin Legal Tender and Go 5G

submitted by All-Stocks to AllStocksNetwork [link] [comments]

with bitcoin legal tender in japan, and regular people making it part of their portfolio all round the world, we desperately need more transactions in each block...

with bitcoin legal tender in japan, and regular people making it part of their portfolio all round the world, we desperately need more transactions in each block... submitted by beancc to btc [link] [comments]

We can easily make bitcoin legal tender

There are many tiny countries or "micronations" that could easily decide to make bitcoin their "legal tender."
Which would be the best one to target?
edit:
Based on my readings from the IRS, bitcoin is currently classified as a virtual currency in part because "it does not have legal tender status in any jurisdiction" and is therefore treated as property rather than currency. This classification means that any exchange of bitcoin is a taxable event. IF bitcoin were to gain legal tender status in a single jurisdiction, it would no longer fall under the IRS guidelines for "virtual currency" and must instead be considered currency. This is important because the "taxpayer's relief act of 1997" says:
If nonfunctional currency is disposed of by an individual in any transaction, and such transaction is a personal transaction, no gain shall be recognized for purposes of this subtitle by reason of changes in exchange rates after such currency was acquired by such individual and before such disposition. The preceding sentence shall not apply if the gain which would otherwise be recognized on the transaction exceeds $200.
sources:
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
http://www.gpo.gov/fdsys/pkg/PLAW-105publ34/html/PLAW-105publ34.htm
TL;DR
Get legal tender status, pay less taxes (and save on paperwork)
submitted by fortisle to Bitcoin [link] [comments]

Is Bitcoin Legal Tender? Kenya’s Parliament Gives Treasury 2 Weeks to Decide https://goo.gl/UmmM32 - Crypto Insider Info - Whales's

Posted at: July 7, 2018 at 04:57AM
By:
Is Bitcoin Legal Tender? Kenya’s Parliament Gives Treasury 2 Weeks to Decide https://goo.gl/UmmM32
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Is bitcoin legal tender in Japan or not?

Using the definition of legal tender as: A medium of payment recognized by a legal system that may be offered in payment of a debt and that a creditor must accept.
Is bitcoin really legal tender in Japan now. News articles are giving conflicting info.
submitted by p2pp2p to Bitcoin [link] [comments]

Is Bitcoin Legal Tender? Kenya’s Parliament Gives Treasury 2 Weeks to Decide https://t.co/mvikEGcnhA - Crypto Insider Info - Whales's

Posted at: July 7, 2018 at 04:46AM
By:
Is Bitcoin Legal Tender? Kenya’s Parliament Gives Treasury 2 Weeks to Decide https://t.co/mvikEGcnhA
Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX
Join Telegram Channel for FREE Crypto Bot: Crypto Signal
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Is Bitcoin Legal Tender? Kenya’s Parliament Gives Treasury 2 Weeks to Decide

submitted by TheHack3rman to Cryptalk [link] [comments]

If you where going to Bitcoin legal tender in a city, how would you do it? /r/Bitcoin

If you where going to Bitcoin legal tender in a city, how would you do it? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

how is bitcoin legal tender?

I see that more and more business around the world are accepting bitcoin. How is that legal? Aren't legal tenders regulated by the state?
For instance, German Finance Ministry is recognizing bitcoin as a “unit of account”, which means you can use bitcoin legally in Germany. But, what about other countries where bitcoin is not recognized by the government? For instance, has US government recognised bitcoin as a legal mean of paying for sandwiches in Subway? If not, aren't then those Subways breaking the law by accepting non-legal tender as a medium of payment? What about Russia, where Ruble is the only legal tender? How come merchants there can accept some "internet money" legaly?
I'm confused :-(
clarification: in at least one country (my own - Croatia), a bartender in a caffee is legally prohibited from accepting currency of another country (for instance, euro) as a payment for your coffee. I'd be surprised if Croatia is unique in the world in this respect.
submitted by dijxtra to Bitcoin [link] [comments]

Bitcoin Legal Tender In Japan, But Not A Currency? (The Cryptoverse #243)

Bitcoin Legal Tender In Japan, But Not A Currency? (The Cryptoverse #243) submitted by marketingmonk to TheCryptoverse [link] [comments]

Iceland's Pirate Party covered by Time. Talks about their plans of shifting power back to the people and making bitcoin legal tender

Iceland's Pirate Party covered by Time. Talks about their plans of shifting power back to the people and making bitcoin legal tender submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Petition to white house to grant bitcoin legal tender status in the USA..........need 100,000 signatures in 30 days to be considered. Help!

Petition to white house to grant bitcoin legal tender status in the USA..........need 100,000 signatures in 30 days to be considered. Help! submitted by mathmanagement to Bitcoin [link] [comments]

Dumb question: What happens if a country makes Bitcoin legal tender?

I was just reading over Notice 2014-21, which gives extra guidance from the IRS about virtual currencies and the tax code. Here is how the notice defines virtual currency:
Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In some environments, it operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance--but it does not have legal tender status in any jurisdiction.
So if anywhere on Earth decides to make Bitcoin legal tender, it no longer fits the IRS's definition of virtual currency, and capital gains rules no longer apply, because it is "officially" a currency and no longer a mere asset?
That seems like an interesting ray of light in this discussion. One poor nation makes bitcoin legal tender, and the IRS rules governing it change? Haven't heard much said about that.
submitted by bitcoinblues to Bitcoin [link] [comments]

Is bitcoin legal tender in Japan or not? /r/Bitcoin

Is bitcoin legal tender in Japan or not? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

It would be awesome to pass laws that make Bitcoin legal tender!

If merchants were legally obligated to accept bitcoins, then we would not have to worry about anyone creating a whitelist. Iceland -- get on it!
submitted by moral_agent to Bitcoin [link] [comments]

New York Plans to Introduce "BitLicense" to Make Bitcoin Legal Tender!

New York Plans to Introduce submitted by gldtalk to goldcoin [link] [comments]

We should get exposure in Japan. Bitcoin is already legal tender there.

I feel like a country that we could very well have exposure in is Japan because there's probably the most familiar with bitcoin and its deficiencies. They already made bitcoin legal tender there, but think about if they made Raiblocks legal there too. Even more people over there would look into it because of how instant it is for both in person and online transactions compared to traditional methods.
Lmk what you guys think
submitted by AthleticGamerGuy to RaiBlocks [link] [comments]

Sometimes I’m still kinda surprised that Switzerland hasn’t gone all in and adopted Bitcoin as legal tender and part of its currency reserves.

submitted by the420chronicler to Bitcoin [link] [comments]

Is bitcoin a legal tender in any country of the world?

submitted by tlztlz to BitcoinBeginners [link] [comments]

Cryptocurrencies like Bitcoin not legal tender: FM Arun jaitley Bitcoin Price Reversal, Bitcoin Legal Tender, Bitcoin Gold Manipulation & Bitcoin Legal Tender In Japan, But Not A Currency? (The Cryptoverse #243) The Legal Tender: CTO, Bitcoin Center The BITCOIN Breakout Came!  CME GAP  BTC Is LEGAL TENDER ...

Bitcoin is generally not considered legal tender. KEY TAKEAWAYS As of February 2020, Bitcoin was legal in the U.S., Japan, the U.K., Canada, and most other developed countries. The thing is, this feature is exactly what makes Bitcoin not recognized as money in Malaysia (or “not legal tender” as the law puts it). Just like these ancient coins. Image from ngccoin. In Malaysia, what’s recognized as currency is controlled by the Central Bank of Malaysia Act 2009 (CBMA 2009), and Part III of the Central Bank of Malaysia Act 1958 (CBMA 1958). Under Section 20 of the ... China Dumps Dollar, Declares Bitcoin, Ethereum Legal Tenders. Cryptocurrencies. China Dumps Dollar, Declares Bitcoin, Ethereum Legal Tenders. by EDITOR May 10, 2020 May 10, 2020 0 28765. Share 14. BY DAYO ADESULU. China court has on Saturday finally declared the controversial Bitcoin and Ethereum as asset protected by law, adding that it is now legal tender in the land. A few days ago, the ... Bitcoin currently resides in a legal grey area. Neither has its use been strictly declared illegal, nor is it being considered as a legal tender in many jurisdictions. However, the rising speculations and risk factors involved have led to serious growing concerns for law enforcers and regulators regarding its use. According to a report in a local news publication, the Commercial Court of Nanterre of France made a historic decision recognizing bitcoin as legal tender in the country. The ruling relates to a case between French cryptocurrency exchange Paymium and UK-based alternative investments firm BitSpread. Paymium had loaned 1,000 BTC to BitSpread before the Bitcoin Cash hard fork in 2017.

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Cryptocurrencies like Bitcoin not legal tender: FM Arun jaitley

Bitcoin Price Reversal, Bitcoin Legal Tender, Bitcoin Gold Manipulation & "Not Legal, But Necessary" The Modern Investor. Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe ... Cryptocurrencies like Bitcoin not legal tender: Union Finance Minister Arun jaitley -----‘DD News’ is the News Channel of India's Public Service Broadcaster 'Prasar Bharati'. DD News has been ... Class debate for “should bitcoin be a worldwide legal tender” concepts and methods Start Cloud Mining Today: https://www.ccgmining.com/aff.php?aff=52 Bitcoin trade in Japan accounts for about half of the global trade volume. That number has... Check out the Cryptocurrency Technical Analysis Academy here: https://bit.ly/2NykhOQ - - - If you enjoyed the video, please leave a like, and subscribe!

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