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Is it legal to buy bitcoins for a foreigner

Is it legal to buy bitcoins for a foreigner

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You are not protected when using virtual currencies for payment �Payments made through virtual currencies like Bitcoin are immediate, direct and non-reversible. Yes, foreigners who are legal residents of South Korea are allowed to buy bitcoin in South Korea, however, most local cryptocurrency exchanges. As a visa holder in the United States, you are allowed to trade cryptocurrencies like Bitcoin since they are not regulated by banking.

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Download as PDF Printable version. Receiving bankbook memo: usually the field where your name is written. This is because the court classified bitcoins as payment instruments - whereas most countries treat their use as an unregulated method for the exchange of goods, or even as a crime. In addition, the IRS has ruled that virtual currency must be considered personal property rather than money for the purposes of federal taxation.