There are no clear regulations regarding mining activity of cryptocurrencies. The government has issued instructions regarding bitcoin investment and has warned that bitcoin is not regulated. Even after the instruction of RBI, still, the Bitcoin investment or trading is not illegal in India. Mining is just like developing a software and there is no regulation in this regard. Therefore till now the mining activity is also legal in India Source: Bitcoin Forum
Is Bitcoin or any other cryptocurrency legal in India to do trading/mining/investing?
Hello, I've read the news that it is now entirely illegal to deal with crypto in India. But I am having mixed responses from various sites and forums, stating that some is legal while others saying its not a legal tender (which ik). I am hoping someone well experienced in the crypto background and who knows Indian codes well can help me and explain in detail about buying or trading crypto in India. Thank you.
A 17 year old dictator is trying to create a Reddit nation and wants 2 million dollars to create an island nation by seceding from a South American nation and the nation will live off of the proceeds from mining bitcoin, legalized gambling and by making the country a bank haven. Lets see what comes
I am 15 years old and have no money. Is it legal in the USA to mine for bitcoin?
I am in CT. My dad gave me a bank account back in April and I used to have a job and then quit. I have since then had no money in my bank account. (Bank is Navy Federal btw) I was starting to think about using my computer to mine bitcoin but was wondering if it was legal for me to do at 15 years old.
Someone using gym utilities for bitcoin mining during unstaffed hours. Is this legal?
FYI I am not the owner of the gym, I plan to inform the gym owner during staffed hours on Monday. Brief Summary Location: Minnesota, Gym: Snap Fitness. This happened around 5pm CST today, after staffed hours when the gym is RFID badge access only. The RFID badge is tied to your name and there are cameras all around. The gym provides free WiFi and a cell phone charging station, basically an array of charging cords. The bitcoin miner was plugged in to a wall power outlet and directly in to the internet router, effectively bypassing both provided resources. The miner was noisy but that is likely only an annoyance. Overall, I just want to know what to tell the gym owner. Providing them a law to look in to, letting them know someone was misusing their electricity or simply a noise complaint specific to one of their customers and providing a date/time. Obviously the final result will be action taken by the owner, I am only an informant. Additional Detail Usually this gym is peaceful, only the usual gym noises but today I walked in to an obnoxious fan noise, slightly louder than a vacuum is my best guess. I immediately spotted a bitcoin miner next to the front desk. I walked by and noticed the cords went to the internet router and wall outlet. Based upon this, I assumed it was owned by the owner of the gym and they were trying to make some side profit. Blew it off and start exercising. However, near the end of my workout I noticed one of the others in the gym unplugging the miner and packing it up before leaving. My mood immediately changed to disgust. I did not confront him as I am not aware of the specifics around excess use of a provided utility or noise production and I did not want to get in to an argument. The gym does provide a cell phone charging station and WiFi but the miner was bypassing both. The charging station is likely limited to 5V and 1-2A = 5-10W per cord while the miner was likely 500W, 50-100 times as much. I do not know the network setup but connecting directly to the router may be a security issue.
Is Bitcoin mining Legal? The short answer to this is, yes it is. However, some countries have declared Bitcoin as illegal. That’s why mining is also prohibited and considered illegal there. Anyways, this is a subjective matter and varies from one jurisdiction to another. As of February 2020, Bitcoin was legal in the U.S., Japan, the U.K., Canada, and most other developed countries. In general, it is necessary to look at Bitcoin laws in specific countries. Globally, with only a few exceptions, bitcoin mining is generally considered to be legal. Before digging into the legal issues, I’m going to offer a brief overview of bitcoin mining. If you’re already familiar with the mining process, feel free to skip ahead. Even though Iran is on the ‘Bitcoin banned countries list’, there’s still some illegal Bitcoin mining activity taking place near Tehran. Very risky. Map of active Bitcoin nodes in the Middle East August 2019 ( Bitnodes ) Because of which, bitcoin is provided legal protection like any other property. There are many cases where national governments have not outlawed bitcoin; no laws were passed regarding bitcoin mining therefore. On a global scale, with a few exceptions, bitcoin mining is considered to be legal in many places.
What is Bitcoin Mining? (In Plain English) - YouTube
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