United States – While it seems the response to Bitcoin has overly been positive in the USA, some states are friendlier towards Bitcoin (think California) while some are more concerned about regulations (New York). While just using Bitcoin should be fine, check with local laws before make any major purchase or doing anything drastic.
Canada – Canada has in the past stated that it will tax Bitcoins by using two methods. Bitcoin used for sales of products or services will be regulated by Canada barter transaction rules while money made from transactions that treat Bitcoin like gold can be considered income or capital.
Bolivia – Boliva’s central bank, El Banco Central de Bolivia, has banned any currency, cash, or coin that is not regulated by the government. This does include Bitcoin, so citizens are not allowed to use cryptocurrency.
Brazil – Brazil sees cryptocurrencies as financial assets like gold, and has a 15% tax when sold. However what distinct rule is sales below 35,000 reals approximately $16,000 USD will not have to pay this fee.
Colombia – Nothing set in stone yet, but newspapers and other news sources point towards Columbia possibly banning Bitcoin transactions
Ecuador – Ecuador has banned Bitcoin and other digital online currencies.
Mexico – the Bank of Mexico has sent out a statement in the past warning users and businesses alike against the risk of using Bitcoin. Nothing solid has been released yet however.
European Union – European Union has given out warnings about the chances of fraud, volatility risks, etc. that comes with using digital currency such as Bitcoin. It also released a statement discouraging financial institutions such as banks to use aforementioned cryptocurrencies.
Belgium – The Belgian Bitcoin Association has stated that the Central Bank of Belgium has no plan to regulate or restrict any Bitcoin related business or service. They have however, released a warning stating that Bitcoin in most cryptocurrencies have no central figure and are prone to volatility, fraud, and lack of merchant adoption.
Bulgaria – Bulgaria Has Released Guidelines regarding Bitcoin. The National Revenue Agency (NRA) has stated that selling or buying of digital currency such as Bitcoin is the same as the sale of financial assets and will be taxed 10%.
Cyprus – Home of the first physical Bitcoin savings company, Cyprus is arguably the most Bitcoin friendly country. Still, their central bank has issued a warning regarding Bitcoins Volatility and stating the fact that Bitcoin is not legal tender.
Denmark – Denmark considers Bitcoin not real money so Bitcoin is treated as a private asset so any gains, as well as losses, are not regulated.
Estonia – Estonia central bank has not issued a statement regarding Bitcoin at this time. However, one of the managers has sent an email to Bloomberg regarding Bitcoin as a “problematic scheme”.
Finland – Finland treats Bitcoin as a commodity saying it does not reach the definition of a currency. They do have capital gains tax on Bitcoins and Bitcoin mining is considered income and taxed likewise.
France – France has stated that Bitcoin is not recognized by France, but money made from digital currencies is subject to tax.
Germany – Bitcoin in Germany is exempt from a 25% capital gains tax if held for over a year. Germany treats Bitcoin as a form of private money.
Greece – Besides a statement from the bank giving the usual warnings about Bitcoin, no regulations or guidelines have been issued regarding Bitcoin.
Iceland – Bitcoin has been banned in Iceland, but only when purchasing the coins outside of the country; holding Bitcoins is okay.
Lithuania – No definite regulations at this time, but has issued a statement regarding Bitcoin.
The Netherlands – One of the simplest guidelines, Netherlands seized Bitcoin and other cryptocurrencies as any other currency and is treated as such when taxed.
Slovenia – While selling Bitcoin is not subject to capital gains tax, Bitcoin is subject to income tax which is based off the current Bitcoin to euro exchange rate at time of transaction.
Sweden – Sweden considers Bitcoin is a valid method of payment, which means exchanges and the like must be regulated and abide by guidelines just like any other financial institution.
Russia – Bitcoin use in Russia is rather torn right now, with originally Russia banning use of any payment system like Bitcoin. They seem to have slightly retracted the statement since then however, but Bitcoin use in Russia is still on the fence.
Ukraine – the Central Bank of Ukraine has issued a statement stating that all businesses wanting to handle cryptocurrencies must be properly licensed and abide by proper guidelines.
United Kingdom – No regulations or guidelines have been set in stone at this time, but from recent talks and reports, it seems that the United Kingdom is trying to find a way to best address Bitcoin legally.
China – China has issued several warnings regarding the use of Bitcoin. These statements have had a large impact on the market of Bitcoin considering China is one of the largest Bitcoin markets in the world. There are no official guidelines at this time, it seems that China would like Bitcoin to stay as a “on the side” kind of thing.
Hong Kong – Besides the typical central bank statement, Hong Kong has been relatively passive when it comes to regulating Bitcoin. It seems Hong Kong like to stay that way, until Bitcoin becomes more adopted.
Indonesia – While the Central Bank of India has issued a warning stating that bitcoin is not to be treated as a currency and even accepting it may break laws, no enforcement or actions have been taking upon businesses that do.
India – The bank of India has issued statements regarding Bitcoin, and is said to be watching Bitcoin very closely. In fact, one exchange has been raided and another was visited by tax officials to see how Bitcoin and the like should be treated and regulated.
Japan – While Japan has no regulations regarding Bitcoin at this time, Japan has been urged to as Mt. Gox, famously known for being the biggest Bitcoin exchange and crashing, just happens to be in Japan. Japan still has no official guidelines or regulations at this time.
Kyrgyzstan – According to national law, use of Bitcoin and similar currencies is illegal.
Malaysia – While Malaysia’s bank has also issued a statement, it was kept quite short simply caution people before investing into Bitcoin.
Singapore – One of the few countries with a accepting Bitcoin guideline, Bitcoin is treated not like a currency but as a good or asset depending on the situation. When treated as a good it will be taxed according to GST (similar to VAT or sales tax).
When the transaction makes Bitcoin an investment asset, Bitcoin is not taxed due to the fact Singapore does not have a capital gains tax.
Taiwan – Along with China, they have released a joint statement against the use of Bitcoin. In fact, regulators have even went as far to block attempts of installation of Robocoin ATM.
Thailand – Besides the standard bank issued statement saying that Bitcoin is not a currency and comes with risks, Thailand does not have any regulations or guidelines when it comes to using Bitcoin.
Vietnam – Being one of the rare countries to ban Bitcoin outright, use of Bitcoin in Vietnam is forbidden. Despite this, there are still some small business that accept Bitcoin.
Israel – While Israel is said to be considering a potential tax on Bitcoin, no such regulations have been released. Besides the typical bank statement, the only notable thing regarding Bitcoin and Israel is that the Israel Bar Associated has stated that Bitcoin is a valid payment method for attorneys.
Jordan – Bank of Jordan has issued a statement warning against using Bitcoin, prohibiting banks and the like from using or handling Bitcoin.
Lebanon – Except the Central Bank statement warning users about Bitcoin, Lebanon at this time does not have any guidelines or regulations regarding Bitcoin.
New Zealand – While comments have been made regarding volatility related risks that come with Bitcoin, no regulations or guidelines have been made at this time.
Australia – Bitcoin is treated two ways when it comes to taxing, Bitcoin is both treated as a good and an asset depending on the transaction situation.