What are the legal implications of using cryptocurrency?

The legal implications of using cryptocurrency vary country by country. Generally, the use of cryptocurrency is viewed as a digital asset and is treated as property. As such, digital currency gains and losses are subject to taxation in most countries. In addition, cryptocurrencies may be subject to restrictions or bans in certain jurisdictions. It is therefore important to research the relevant laws and regulations applicable to cryptocurrencies before engaging in any cryptocurrency transactions. Finally, it is important to note that due to the decentralized nature of cryptocurrencies, users are responsible for adhering to laws that govern contracts, anti-money laundering (AML) and counter terrorist financing (CTF) regulations.