{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=IT&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=Is+Bitcoin+legal%3F&text=Part+five+of+Bitcoin+Basics%3A+The+phenomenon+explained+in+plain+english%0A&text=%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EIn+part+4+of+our+bitcoin+basics+series+we+looked+at+whether+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fit%2Fbitcoin-fallira%2F%22%3Ebitcoin+will+fail+in+the+future%3C%2Fa%3E.+In+this+post+we+look+at+the+legalities+of+bitcoin.%3C%2Fspan%3E%0A%0A%3Chr+%2F%3E%0A%0ABitcoin+and+the+Blockchain+are+fundamentally+new+technologies+that+operate+outside+of+centralized+government%2C+regulation%2C+or+legislation.+For+these+reasons%2C+national+and+corporate+stances+on+Bitcoin+and+other+cryptocurrencies+tend+to+vary+between+nations+-+and+many+countries+have+only+recently+indicated+their+intent+to+embrace%2C+regulate%2C+or+ban+cryptocurrencies+outright.%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EIt+is+very+important+that+you+stay+abreast+of+your+country%E2%80%99s+policies+on+cryptocurrencies%2C+and+familiarize+yourself+with+applicable+tax+laws+as+well+as+planned+regulation+in+your+home+country.+%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3ECryptocurrency+has+increasingly+been+discussed+in+political+channels+throughout+2017%2C+and+it+is+likely+that+this+trend+will+continue.+For+many+central+banks+and+governments%2C+cryptocurrencies+represent+a+new+reality%3B+one+where+they+have+little+control+over+the+transfer+of+money+and+it+is+relatively+impossible+to+regulate+or+govern+cryptocurrencies+through+official+means.%3C%2Fspan%3E%0A%3Ch3%3EThe+political+views+on+Bitcoin%3C%2Fh3%3E%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EIn+our+present+climate%2C+it+could+be+argued+that+there+are+three+political+views+on+Bitcoin+that+have+emerged+throughout+the+course+of+2017.+These+range+from+harsh+regulatory+views+%28banning+cryptocurrencies%2C+a+pensive+%28wait-and-see%29+approach%2C+and+the+general+adoption+of+cryptocurrencies.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EMuch+of+the+legal+space+surrounding+cryptocurrency+does+not+just+affect+Bitcoin%2C+but+also+affects+the+operation+of+the+Blockchain%2C+of+mining%2C+and+what+is+called+Initial+Coin+Offerings+%28ICOs%29.%3C%2Fspan%3E%0A%3Ch3%3EAre+ICOs+legal%3F%3C%2Fh3%3E%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EAn+Initial+Coin+Offering+is+a+start-up+sale+that+new+cryptocurrencies+hold+upon+launch+in+a+similar+fashion+to+how+a+company+that+is+about+to+go+public+and+issue+shares+might+hold+an+Initial+Public+Offering+%28IPO%29.+%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EHarsher+stances+on+cryptocurrencies%2C+and+Bitcoin%2C+in+particular%2C+tend+to+have+a+negative+effect+in+the+market.+For+example%2C+in+2017%2C+China+banned+several+Bitcoin+exchanges+%28where+Chinese+nationals+could+purchase+Bitcoin+for+Yuan%29+as+well+as+ICOs+within+its+borders+-+sending+Bitcoin%E2%80%99s+price+per+coin+reeling+backwards+by+a+measure+of+some+%241%2C000+USD+or+more.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3ERussia%2C+under+President+Vladimir+Putin%2C+has+also+signalled+a+tough+stance+on+cryptocurrencies.+President+Putin+has+offered+to+regulate+the+operation+of+ICOs+and+cryptocurrency+mining+within+Russia%2C+which+may+well+mean+that+investors+who+own+Bitcoin+in+the+country+may+have+to+pay+tax+on+their+earnings+in+2018.%3C%2Fspan%3E%0A%3Ch3%3ECryptocurrency+regulations%3C%2Fh3%3E%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3ESome+nations+have+indicated+their+plans+to+regulate+cryptocurrencies+and+instead+introduce+a+national+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fit%2Fcrypto-trader%2F%22%3Ecryptocurrency%3C%2Fa%3E+in+their+place.+Russia+and+Kazakhstan+have+both+announced+their+intent+to+use+a+national+cryptocurrency%2C+while+the+city+of+Dubai+in+the+United+Arab+Emirates+has+announced+a+new+cryptocurrency+called+emCash+which+citizens+can+use+for+private+and+governmental+services.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EOther+nations+have+taken+a+%E2%80%9Cwait+and+see%E2%80%9D+approach+to+cryptocurrencies.+For+example%2C+South+Africa+is+presently+testing+cryptocurrency+regulation+in+%E2%80%98sandbox%E2%80%99+%28research%29+environments%2C+while+Namibia+has+yet+to+regulate+cryptocurrency+within+its+borders+but+has+banned+transactions+using+cryptocurrencies+such+as+Bitcoin+as+tender.%3C%2Fspan%3E%0A%3Ch3%3EBitcoin+adoption%3C%2Fh3%3E%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3ELastly%2C+certain+countries+have+embraced+cryptocurrencies+such+as+Bitcoin+and+have+offered+their+support+for+not+only+Bitcoin+mining%2C+but+further+entrepreneurial+environments+created+through+ICOs.+Taiwan+and+Japan+are+perhaps+most+famous+for+signalling+their+interest+in+cryptocurrencies+during+the+course+of+2017.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EIn+principle%2C+cryptocurrencies+such+as+Bitcoin+represent+an+immense+challenge+to+governments%2C+central+banks%2C+and+the+current+monetary+system%3B+one+where+it+is+incredibly+difficult+to+regulate+payments+or+enforce+contracts+%28agreements%29+made+where+cryptocurrency+is+the+tender+in+question.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EQuite+simply%2C+Bitcoin+returns+trade+to+a+time+before+central+banks+emerged+and+housed+gold+or+offered+paper+money.+All+trades+conducted+are+peer-to-peer+and+operate+with+a+degree+of+anonymity%2C+while+Bitcoin%E2%80%99s+ledger+-+the+Blockchain+-+is+publicly+available+on+thousands+of+computers+around+the+world.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EMany+nations+see+this+as+a+threat+to+anti-money+laundering+efforts%2C+and+the+fact+that+Bitcoin+has+been+closely+affiliated+with+rogue+hacker+collectives+or+online+black+markets+in+the+past+has+made+some+governments+especially+wary+of+the+technology+that+underpins+either+Bitcoin+or+the+Blockchain+in+general.%3C%2Fspan%3E%0A%3Ch3%3EThe+advantages+of+Bitcoin%3C%2Fh3%3E%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EBitcoin+does+have+some+advantages+over+how+governments+and+central+banks+presently+use+fiat+currencies%3B+Bitcoin%E2%80%99s+Blockchain+cannot+be+altered+or+%E2%80%98hacked%E2%80%99%2C+and+neither+can+Bitcoins+be+fraudulently+issued+or+created.+The+fact+that+there+will+only+ever+be+21+million+Bitcoins+ever+created+also+means+that+Bitcoin+is+what+is+called+a+deflationary+currency%2C+in+that+its+value+will+not+decrease+over+time.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EHowever%2C+Bitcoin+can+be+viewed+to+disband+some+of+the+control+central+banks+have+had+over+transacting+parties+for+decades%2C+and+returns+that+control+to+people+around+the+world%3B+a+position+that+complicates+the+authority+and+ability+of+any+government+to+regulate+trade+effectively.%3C%2Fspan%3E%0A%0A%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EWhile+there+is+nothing+that+is+inherently+malicious+about+Bitcoin%2C+nations+around+the+globe+will+likely+continue+to+express+differing+stances+on+cryptocurrency+for+years+to+come.%3C%2Fspan%3E%0A%0A%3Ci%3E%3Cspan+style%3D%22font-weight%3A+400%3B%22%3EIn+part+six+of+our+Bitcoin+Basics+series%2C+we%E2%80%99ll+be+unpacking+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fis-bitcoin-money%2F%22%3Ehow+Bitcoin+functions+as+money%3C%2Fa%3E.%3C%2Fspan%3E%3C%2Fi%3E","timeout":15}