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Are bitcoin miners illegal?

Answers (1)

Niaz Amjad
Jan 28, 2022 19:02:07

Is bitcoin mining illegal? The short answer is no, but the long answer is a little more complicated. In the U.S., bitcoin mining is not strictly regulated or illegal, but there are some caveats to consider. This means that if you are involved in bitcoin mining, you will have to pay taxes on any income received from the endeavor, whether it be in the form of rewards, fees, and/or sales. However, in some countries, bitcoin mining is illegal due to the reasons of high electricity usage, criminal activities, and money laundering. China, Egypt, Iraq, Bangladesh and Pakistan are to name few.

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