Portal Coin Dance conducted a study on the legality of bitcoin in different countries and reported that the first cryptocurrency is completely legal at least in 111 countries.

Analysts pointed out that among the 20 most traded with bitcoin the national currency only 3 countries do not give bitcoins legal status. While 15 is Nigeria, where bitcoin is not illegal, but is not fully legitimate. In recent days the volume of transactions with bitcoin and Nigerian Naira amounted to 0.03% of all transactions from the first cryptocurrency.

In 10th place is the Indonesian rupiah, although in Indonesia the status of bitcoin is considered as “limited.” 18 we see trading with the Vietnamese Dong. While in Vietnam is completely legal to trade and store bitcoins, prohibited only the use of cryptocurrency as means of payment.

Analysts also stressed that the bitcoin is recognized by law only in a limited number of countries. The list includes Afghanistan, Algeria, Bangladesh, Bolivia, Pakistan, Qatar, Macedonia, Saudi Arabia, Vanuatu and Vietnam. The status of “limited” bitcoin received in nine countries, but their number includes such major markets as China and India.

The researchers explain that in most of these countries simply have not determined the official status of the cryptocurrency.

Note that in the beginning of the year, the Chinese cyberspace Administration (CAC) has introduced new rules to regulate the blockchain-companies operating in the country. Rules that will come into force on 15 February, should contribute to the healthy development of the industry.

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