There is legal Litecoin? | Litecoin Сlub

There is legal Litecoin?

There is legal Litecoin?

Using the system Litecoin fully legal in most countries. Since the actual use of Litecoin - this is just the transmission of information, no one can deny this process. But why there arises the question of legality?

Using illegal purposes Litecoin

Litecoin - cryptocurrency it, but because their use provides maximum privacy and anonymity. The level of security of information is much higher than with "traditional" office, paper or electronic. Therefore, it is expected that the people who sell and buy something forbidden, or other use Litecoin cryptocurrency: committed transactions are almost one hundred percent protection against tracking. However, most offenders are still somewhere in the wrong, and their "catch hand", but that's another story.

What is not prohibited, permitted

If you are not using Litecoin conduct transactions prohibited by law, it is in itself the use of this currency is fully legal. It may be illegal only in countries with rigid information policy, where there is a presumption of banned if the law does not say that the operation can be carried out, then it is impossible to carry out. These countries have, but they are quite small.

In most countries, there is a presumption of permissibility. Law cryptocurrency not described or regulated - in fact, contained on your hard disk bytes from the standpoint of law are normal information. You are free to modify, transmit, create, or delete it at will. Thus, in the course of its use Litecoin you are not doing anything illegal.

Possible limitations and "pitfalls"

Remember, however, a few important points that allow you to avoid confusion when using Litecoin:

1. This currency is not an official means of payment, so you can not declare the amount stored in Litecoin, or prepare any documents on the committed transaction.

2. If for Litecoin use conventional currency (hryvnia, rubles, dollars, euros and so on), the operation of conversion that occurred, for example, for tax evasion and for the legalization of income obtained by criminal, will be regarded as illegal financial transaction - with all its unpleasant consequences.

Work with verified exchangers, use Litecoin for the purchase of legal goods and services, do not try to be "more subtle than any" - and you will not have any problems. Cryptocurrency convenient because it can not be faked, and by the fact that your transactions are protected from tracking, but otherwise it's the usual money that you can earn and spend.