In 2019, a petition was filed by the Internet and Mobile Association of India before the Supreme Court of India questioning the legality of cryptocurrencies and asking for a directive or order that restricts their transaction.  In March 2020, the Supreme Court of India issued the decision and lifted the RBI`s ban on cryptocurrency trading.   On December 31, 2013, the Financial Supervisory Commission (Republic of China) (FSC) and CBC issued a joint statement warning against the use of Bitcoin. It should be noted that Bitcoin remains highly volatile and highly speculative and has no right to legal claims or conversion guarantees.  In 2021, the government is considering the creation of a state-backed digital currency issued by the Reserve Bank of India, while private currencies such as Bitcoin will be banned.  Thai Bitcoin exchanges can only exchange digital currencies for Thai baht and must operate with an e-commerce license from Thailand`s Department of Business Development. They must also have KYC and CDD policies and procedures, in accordance with the Ministerial Order establishing rules and procedures for customer due diligence, reference page 8 volume 129 part 44 A Government Gazette 23 May 2555 (2012).  If you want to buy, sell, or spend bitcoins, you need to check if it`s legal in your country. The Norwegian tax authority stated in December 2013 that it did not define Bitcoin as money, but considered it an asset. Profits are subject to wealth tax. In business, the use of Bitcoin falls under VAT regulations.  On April 22, 2022, the Parliament of the Central African Republic voted in favor of the cryptocurrency law, which was passed on April 27, 2022.
It officially makes Bitcoin legal tender in the country.  The use of Bitcoin is not regulated in Cyprus. : Cyprus The narrative that most of these countries have for Bitcoin adoption is the lower cost of remittances to a heavily bankless population. This could be a superficial reason, as most of these countries have very low digital and mobile penetration. So if they can`t set up Bitcoin ATMs across the country, it wouldn`t be practical for them to make BTC the default currency. Crypto is not legal tender in Georgia, but there are currently no regulations from the National Bank of Georgia that prevent it from being used in the form of barter.  With various speculations and controversies about cryptocurrency, some countries have passed laws to legalize it. Arizona has introduced a bill to make Bitcoin legal. El Salvador approved BTC as legal tender last year. On a macroeconomic basis, the currencies of these countries generally struggle to maintain their value against the US dollar. El Salvador adopted the USD as its currency, but soon realized that most of its exports were destined for the United States and that a weaker dollar was doing more harm than good to its people.
Unlike other Latin American economies, El Salvador did not have very high inflation before introducing the dollar. On 17 December 2013, the Danish Financial Supervisory Authority (FSA) issued a statement reiterating the EBA`s warning. As of 2017 [update], the FSA states that transactions involving Bitcoin do not fall under its regulator and therefore the FSA does not prevent anyone from opening such transactions.  The FSA`s chief legal counsel states that Denmark may consider amending existing financial rules to cover virtual currencies.  A month later, more Salvadorans have bitcoin wallets than traditional bank accounts, and the most popular bitcoin wallet—the officially government-sponsored Chivo wallet—has been downloaded by three million people, or 46 percent of the population.  However, only 12% of Salvadoran consumers used cryptocurrency, and 93% of businesses surveyed said they did not receive payments in Bitcoin in the first month.  On April 1, 2014, the PBOC ordered commercial banks and payment companies to close Bitcoin trading accounts within two weeks.  Banks are not allowed to trade bitcoins due to concerns about financial crime and hacking.