Is crypto mining illegal?

[Muntahaaa]

Hi,

Please, Is crypto mining illegal?

 

[primalscreampurple]

The answer is yes also and no also. Crypto mining is illegal in some countries and legal in some. So we cannot say that it is illegal or legal, it depends on what county you live.

 

[Sirkay12]

The legality of crypto mining is entirely dependent on your geographical location. The concept of Bitcoin has the potential to undermine fiat currency dominance and government control over financial markets. As a result, Bitcoin is completely illegal in some jurisdictions.

Bitcoin ownership and mining are legal in a growing number of countries. Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal, and Pakistan were among the countries where it was illegal, according to a 2018 report. Other countries that have banned Bitcoin mining since 2018 include Bangladesh, China, the Dominican Republic, North Macedonia, Qatar, and Vietnam.

 

[zukbuddy]

• Crypto mining is illegal in many countries due to its electricity consumption, environmental damage, and potential for money laundering and tax evasion. However, some people argue that crypto mining is necessary for the cryptocurrency ecosystem. The debate is likely to continue as more countries weigh the pros and cons of this new industry.