Bitcoin is illegal in many countries. It is not valid. Some countries, including China, Bangladesh and Morocco have banned Bitcoins. In addition, Bitcoin is not regulated or legalized in most countries. In these countries, however, anyone can buy, sell or mine Bitcoin and use it if they wish.

The U.S. IRS also considers Bitcoin and cryptocurrency as digital assets like stocks and trading. The IRS has regulated its usage and now imposed taxes based on the length of time and how one uses the cryptocurrency. This marks the regulation and affirmation that Bitcoin is not illegal in all countries.