Legality of bitcoin by country - Definition from the Hotspot Shield Encyclopedia
Due to the decentralized nature of Bitcoin, and the fact that there is no central control over its use and distribution, its legality is varied across the world.
There is no single consensus on the use of Bitcoin, and each country maintains its own set of rules, codes and regulations, while others ban the use of Bitcoin outright. In Argentina, Bitcoin may be considered money, but it does not count as legal currency. In Bangladesh, Bitcoin is illegal and anyone caught using it could be jailed. Malta has no specific regulations at all regarding Bitcoin. In South Africa, Bitcoin has no legal status or regulatory framework. As you can see, the legal status of Bitcoin and its usage varies wildly from country to country.