Mining and legality

In this article we will see what is legal or not in the middle of the cryptos-currencies.
Many people question and wonder if it is legal to have a computer at either that is doing the mining of cryptos-currencies or other, we will see this.

Sometimes we can see that Bitcoin is banned but without digging deeper the subject concerning France.

The legality of the mining of cryptos-currencies in France

  • In France it is legal to have “computers” in your home that perform the mining of cryptos-currencies.
  • However, if you have a large illogical electricity bill, the authorities (= Police, gendarme) may wonder if you are not doing something illegal (such as growing cannabis).
  • It is legal to have 1 or more “Computers”, you can use them to undermine cryptos-currencies and you will have no worries if you pay your electricity in a normal way to your electrical supplier.
  • It is also legal to buy or sell Cryptos-currencies in France.
  • For the Bank of France, Bitcoin is not recognized as currency.
  • To ban Bitcoin (and cryptos-currencies), the authorities should ban the Internet, impossible thing.

On the other hand the French state can regulate other things related to cryptos-currencies such as defining a tax when selling your cryptos-currencies, blocking advertisements, blocking (or regulating) ICO’s, imposing regulations on Trading platforms etc

-In any case, as soon as you collect money, you sell something, no matter the estate, you have to pay a tax to the state.

This applies to France, there are countries where it is forbidden to undermine cryptos-currencies.
There are countries where there is no tax on crypt-currencies such as Belgium at the moment.

On the images below we can observe a list of countries concerning the current regulations:

Regulation of Cryptos-currencies in England, France, Germany, Russia:

Legality mining: England, France, Germany, Russia:

Regulation of Cryptos-Currencies in Africa:

Legality Mining: Africa

Regulation of Cryptos-Currencies in America:

Legality Mining: America

Regulation of crypts-Currencies in Asia:

Legality Mining: AsiaLegality Mining: Asia

Source: Bloomberg

If you have any questions, if you think it is missing something important to add or correct do not hesitate to write a comment.

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