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Money laundering, terrorism financing and tax evasion are all issues that many governments take into consideration when considering whether to accept or ban cryptocurrency. Here is a list of countries where cryptocurrencies are legally accepted:

Bolivia (Crypto Valley) – Children can pay bus fares with bitcoin. Canada (BCE Inc.)– Earnings from sale of cryptocurrency are subject to capital gains taxes in this country. Monaco- Eligible for VAT exemption; usable in casino. Singapore- Paying income taxes on crypto earnings, but not taxation on crypto sales themselves. South Korea Bithumb – The local credit card issuer allows users to pay for purchases by using cryptocurrency. United States Federal Reserve System- Crypto users will have their accounts monitored closely– the US central bank plans on issuing regulatory guidelines under which it will be forced to deal with virtual currency exchange platforms after it announced earlier this year that it was looking into digital currencies’ legal status in the country . Also, FinCEN has declared miners operating within its jurisdiction as money transmitters, therefore requiring them to comply with anti money laundering regulations. China- Generally illiquid, although there are rumors that Beijing might set up their own state bank run by Chinese citizens next year that would print yuan backed by gold or cryptocurrency . Russia Some regions have banned the use of cryptocurrencies while others have attempted outright banning them over fears they could be