This video contains discussion on LEGAL STAUS OF BITCOIN OR OTHER CRYPTOUCRRENCIES IN
CANADA, USA, JAPAN, CHINA and INDIA
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“BITCOIN BASICS” LOGIC AND MGIC OF DIGITAL GOLD”
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DIGITAL CURRENIES ARE NOT A LEGAL TENDER”
Though it’s not a legal tender, but Canada allows usage of digital currencies to buy goods and services
on the Internet and in stores that accepts digital currencies. One may also buy and sell digital currency
on open exchanges.
The Internal Revenue Service (IRS) is aware that “virtual currency” may be used to pay for goods or
services, or held for investment.
Japan passed the virtual currency act in March 2017 and applicable from 01 April 2017. Japan officially
recognizes bitcoin and digital currencies as a means of payment. “The Act defines virtual currency as
On 5 December 2013, Peoples Bank of China made its first step in regulating Bitcoin by prohibiting
financial institutions from handling Bitcoin transactions. Since then China has come down heavily on the
trade of Bitcoin or other virtual currency.
As on 24 Dec 2013, RBI issued notice cautioning users of virtual currencies against applicable risks.
“The Reserve Bank of India has today cautioned the users, holders and traders of Virtual
Currencies (VCs), including Bitcoins about the potential financial, operational, legal, customer
protection and security related risks that they are exposing themselves to.”
All Cryptocurrency (also referred as Virtual Currency or Digital Asset) recommendations and comments
are the personal opinion of Mr. Gaurav Bansal.
Investors should be cautious about any and all Cryptocurrency recommendations. Various factors,
including personal ownership, may influence or factor into analysis or opinion.
All investors are advised to conduct their own independent research into individual Cryptocurrency before
making a purchase decision.
The content in this video is provided for information purpose only, without any representations, warranties
or conditions of any kind.