5 Countries Where Bitcoin is Legal and Illegal

3. United States of America

Bitcoin Legal or Illegal: Legal

The United States of America is the world’s largest economy and the only superpower in today’s world. The U.S. taxes Bitcoin as property, and taxes are levied on profit from goods sold through Bitcoin and also on the fair market value. Gains on Bitcoin held for more than a year are treated as capital gains, while those on Bitcoin held for less than a year are treated under income tax. Additionally, while mining is not outright banned, some states have energy usage regulations and others encourage the liquidation of mining equipment.