[ Bitcoin ] Bitcoin mining legalized in Venezuela; National Pool included
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There are no clear regulations regarding mining activity of cryptocurrencies. The government has issued instructions regarding bitcoin investment and has warned that bitcoin is not regulated. Even after the instruction of RBI, still, the Bitcoin investment or trading is not illegal in India. Mining is just like developing a software and there is no regulation in this regard. Therefore till now the mining activity is also legal in India Source: Bitcoin Forum
For the most part, yes, bitcoin mining is most likely legal in your jurisdiction. However, there are some places around the world where possession and use of bitcoin are illegal and bitcoin mining is illegal as well. Through North America and Western Europe, bitcoin is relatively accepted by legal authorities and some laws have been passed to ... Bitcoin mining is the process of updating the Bitcoin blockchain or the ledger. It is also the method through which new bitcoins enter the whole ecosystem. Bitcoin miners put their resources (time, electricity, equipment, computation, etc.) to validate new transactions and hence mine new ‘blocks’ (blocks are a group of transactions). As of February 2020, Bitcoin was legal in the U.S., Japan, the U.K., Canada, and most other developed countries. In general, it is necessary to look at Bitcoin laws in specific countries. Is Bitcoin Legal Tender? Legal tender is defined as money that must be accepted as payment for a debt in the jurisdiction where the payment is being made. Because bitcoin is not recognized as legal tender by any government, it can only be used as payment if both parties in a transaction agree to its use as a form of payment. Bitcoin Mining – Legal Or Illegal? There is a way to answer this shortly and quickly, and that answer is yes, it is legal to mine Bitcoin. However, it is legal to mine it only in those countries where Bitcoin itself is legal. There are also countries that have made Bitcoin, and probably most other (if not all) cryptocurrencies illegal.
Noob's Guide To Bitcoin Mining - Super Easy & Simple - YouTube
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