Table 1.
Legal Status in Selected Jurisdictions
Sources: Wikipedia (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory), Global Legal Research Center (2018), cryptonews.com (https://cryptonews.com/guides/countries-in-which-bitcoin-is-banned-or-legal.htm)
| Tax treatment | |||||
|---|---|---|---|---|---|
| Country | Definition | Acquisition | Gains | Holding | Mining |
| China | Special virtual commodity | Not taxed | Profits tax | Legal | Prohibited |
| France | Crypto-asset | VAT exempt | Flat-tax rate of 30% | Legal | Legal |
| Germany | Financial instrument | VAT exempt | Income tax, capital gains exemption when held 1 year or more | Legal | Legal |
| Japan | Property value | Exempt from consumption Tax | Miscellaneous income | Legal | Legal |
| USA | Convertible decentralized virtual currency (FinCEN 2013); commodity (CFTC 2018) | Not taxed | Capital gains tax | legal | legal |