One of the doubts that persist in those new users to the crypto world is whether what they are doing is legal. For there is a bad image that BTC and crypto currencies are illegal. Since it is not controlled by any state, country, political entity or bank. Therefore, the question that this paper sought to answer was: Is it legal to buy Bitcoin?
In the framework of the Cripto Latin Fest, relevant speakers from the Latin American crypt world met to discuss in the panel the biggest unknown that persists among crypt users. However, the speakers clarified the situation by explaining what is the common mistake when discussing this.
And this focuses on the fact that Bitcoin is not illegal at all. What happens is that it is not completely regulated, and there is still a lot of ignorance about BTC on the part of the collective and society.
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If I buy Bitcoin, am I committing a crime?
They explained that you have to have two clear concepts when trying to answer this question. Well, one thing is the legitimacy of Bitcoin, and another thing is its legality.
Now, understanding that legality is when the actions to be taken are performed within the context where the laws are not being violated. You can conclude that it’s not illegal to buy Bitcoins.
Since there is no law, or international norm that dictates that the purchase of crypto currency is illegal.
Countries with economic powers, where they consider crypto currencies to be part of the future of world finance. There are no such regulatory frameworks, as they do not consider Bitcoin illegal.
Instead, they focus on promoting the use of Blockchain technologies so that society becomes familiar with these crypto technologies that will be a fundamental part of the future of the global economy.
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Does Bitcoin encourage organized crime?
The speakers discussed at length this sensitive topic for all BTC users, who also support the benefits and potential of crypto currencies.
Well, it has been difficult to deal with the negative actions of third parties who do not take advantage of these technologies as they should, but damage their image before society.
The speakers defended the crypto-currencies and Immediate Bitcoin explaining that a technological advance of such magnitude cannot be dismissed because a group misuses it. Because, in the main ideas behind the creation of Bitcoin and the Blockchain technologies, this malicious use was clearly not foreseen, much less devised.
Bitcoin is a tool that promises great advances in the future. However, this misconception that it’s dangerous and illegal, emanates from bad rumors and yellow news.
Where malicious people use Bitcoin as a tool for their crimes, but not because these immoral people perform these illicit acts, it means that Bitcoin is and should be illegal.
On the contrary, Bitcoin and crypto currencies will be the future of the global economy and finance.
Do you think Bitcoin should be regulated to control its use in organized crime?