Are Bitcoin Investments Legal?

Too Long; Didn't Read

The year is 2008, and a pseudonymous individual named Satoshi Nakamoto has just created the world's first cryptocurrency, Bitcoin. He calls it "an electronic, peer-to-peer cash system" designed to allow people to exchange value freely without relying on middlemen. Except for crypto-punks, computer geeks, and random Joes, not many people give this new magic Internet money any attention. That is, until the value of Bitcoin skyrockets, so much that random Joes become millionaires overnight. Now, it's 2022. Everyone is getting on the crypto bandwagon, and you don't want to miss out. Yes, you missed crypto's initial bull runs—but don't the Chinese say the best time to plant a tree was 20 years ago, and the second best time is now? However, Bitcoin’s classification is unclear, so you’re unsure if investing in Bitcoin is legal or not. Are Bitcoin investments legal? What are the legal risks of investing in Bitcoin? What is the current regulatory framework around cryptocurrencies, including Bitcoin? This article answers these questions and details what you should know before putting your cash in Bitcoin investments.