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My strategy is to get paid for stuff I'm going to do anyways, and if I can't get paid, I will only take $200/hr+ “jobs”.You're already on welfare when you're in medical school, because the state medical school is generally bleeding a lot of money per student (for me - the $17000 tuition << $90,000 cost to educate), so you should drop the ego, and rake in as many benefits and grants legally as you can.I ran a business during college and in medical school. Currently, I have 2 personal assistants, so it’s not too shabby when it comes to time available for studying, because I have a lot of help.I also have almost all my profits and assets in my family business, which I own a tiny fraction of. I run it in my home office and write off the exact dimensions I use as an office off taxes. I don’t have any state income tax.I take a very low personal income that is considered reasonable for the amount of time I put in, get as many applicable grants/benefits as possible, and I found a legal way to make my primary residence tax-exempt for state and local hotel taxes, as well as ignore local building codes. I also qualify for the ACA, get paid for Uber driving on the way to school, to make what would be living costs tax-deductible.I also don’t spend on any textbooks or paid subscriptions. I learn medical knowledge from UptoDate, free Anki decks, PBL, donated books and the library. I grab all the free office supplies, coffee, and pizza from every single club meeting. (I joined every club to get notifications) This feeds me almost every day. The only food I buy is cheap veggies, cheap frozen foods and protein powder because pizza isn't a vegetable. You should also get as many free t shirts as possible. I also happened to get a free Quora Top Writer jacket just in time for winter.I’ve already got more than enough to pay for school all 4 years, because I’m in one of the most affordable schools in the US, but I’m borrowing special Texas loans for 4% interest and writing it off my taxes, so I can use it to pay for my mortgage and personal car under “cost of living” to keep the rentals going within the terms of the promissory note. With FAFSA, your best bet is to make your cost of living - your living by strategically planning and purchasing a multiplex or home with extremely low fees and costs. Eventually, I will pay it off in full before I finish residency or by converting student loans into a HELOC. You can’t write off student loans once you make a doctor’s salary.For the average medical student, it’s all loans plus whatever your family can procure, but you’ll probably still be fine, if you’re in a low cost state school like me.If you’re in expensive private school, you may want to be careful with loans especially as you seem to be drawn into the lowest paid primary care. (Nothing wrong with it, but you should consider your finances!!)I would recommend your best bet is to find NIH research training grants ($2000/month*2 for me), and possibly school sponsored upperclassmen mentorships ($15/hr). I took a Infectious Diseases research grant, and now I’m “mentoring” a lowerclassmen for my research to work on a joint publication. The salary is directly applied to my tuition as a work-study program (exempt from FICA taxes). However, this varies from school to school and most medical students seem too busy to work. I also suggest that if you're such a student, that you consider living in a cheap run-down salvage van with a futon. Get a covered parking space and you're golden. Rent would only be less than $1000/4 years if you get a school sponsored parking garage space.If you just follow this last paragraph and stay in the lowest cost accredited medical school, you should be able to mint your MD with less than $55k in loans, 1/5 of the costs in an average private school with the same salary options. The median four-year cost of attendance of medical school was $278.5k for private schools. Unsubsidized graduate loans are at 6.8% interest currently and may go higher, meaning you will owe 400k+ (vs 88k) once you finish the shortest 3 year residency.312k after 40 years is 4.672 million dollars, if invested in the S&P 500 averaging 7% return per year. If you look at the lifetime (43 years) after-tax salary of the lowest and highest paid specialty with NPV of 5% (Endocrinology: $832,606 vs Orthopedic Surgery $4,226,224), you’ll see why it’s so critical to be mindful of costs.I don’t know many retiring docs with 4.5M+, do you?

This answer has been re-published on Forbes.Paul Graham of Y Combinator is fond of saying that the center of Silicon Valley is:"wherever there is at this moment the greatest concentration of the people who are going to make the next generation of stuff."I humbly disagree.The center of Silicon Valley, the capital, has a long and illustrious history proving its embodiment in a permanent physical space. We can use the principles of economic geography and the mechanics of industrial cities and regions to better locate this core. Lastly, a brief history of the San Francisco Bay Area at large will help us explain why and how that physical core isn't so permanent, and why it's shifting within this region. [1]Silicon Valley encompasses an industry over a particular geography, in this case, the high-tech industry as it's headquartered in the San Francisco Bay Area.The capital of this region is going to be defined differently from the capital of a governmental region, like a state/province or nation.Wikipedia defines a capital city as:the area of a country, province, region, or state considered to enjoy primary status ... a capital is typically a city that physically encompasses the offices and meeting places of the seat of government...So we can say that a capital city is where decision-making authority is physically located. When we compare this criterion to the capital city of an industry, such as the one Silicon Valley encompasses, we find that there is no central decision-making authority for that industry and thus no way to reach an answer by that definition. [2]A center of power is the more appropriate criterion by which to decide where an industry's capital might be located.For example, everyone knows the entertainment industry ("Hollywood") is located in Southern California. But within this region, it's not actually in Hollywood (not anymore). The centers of power--film, television, and music studios--are spread out across a few cities, notably Burbank, Studio City, Century City, Culver City, and yes, some parts of Hollywood. The people that matter, those with power and influence, live mostly in and amongst the same areas, across West L.A., typically Beverly Hills and the Hollywood Hills and everything in between. So where the power is concentrated, where people congregate to share ideas, fund them, and bring them to life, mostly, are in a small, 10-mile radius in an area that locals call the Westside.In fact, Southern California is actually an industrial capital for other industries too, they're just located in other parts of town. Aerospace and fashion also round out the city's economy, but despite being spread out, the main centers are by the airport and Downtown respectively.^ The 'capital' of the entertainment industry is this blob on the Westside. SoCal/LA may get the overall credit, but this red blob is what people refer to by 'Hollywood.'Even other regions defined by an industry, like New York is by "Wall Street," are confined to a specific geographic area because that's where the power is concentrated. Wall Street is basically Lower Manhattan, not all of New York City. The major banks and financial institutions are for the most part located there.^ The tip of Manhattan is the capital of 'Wall Street.'So when it comes to Silicon Valley, where is the power concentrated? If we go by where the largest technology companies are headquartered, we're in a bit of an odd situation. The world's pre-eminent tech company, Apple, is in Cupertino. Google (company) is in Mountain View and Intel (company) is in Santa Clara. Like Southern California, these power centers are spread out in a small area of an even larger industry-region. But there is a big difference: Hollywood doesn't pull actors and actresses from top university engineering and business programs and doesn't need venture capital firms to back productions.In fact, it's important to note that Silicon Valley is in the business of innovation, which is a complex labor process requiring: [3]massing of technical competencefirms and skilled labor (which are willing to share knowledge to some extent)free movement of workerstechnical interaction (problem solving / learning-by-doing / experimentation)These processes are best fostered by a strong clustering effect among universities, research institutions, investors, companies, and workers in close proximity. Thus we can focus on the true capital of Silicon Valley, the exact location where the power of the industry is concentrated, where talent is nurtured and ideas are forged and funded: Stanford, Palo Alto, and Menlo Park.^ The little purple blob center-south above has been the capital of Silicon Valley since the region got its name (if you go by my definition). There is a lot of power to the south and to the east, but this kernel of land is the 'promise-land.'Stanford University produces the talent and the attitude to start tech companies. Harkening back to our definition of innovation-based businesses, the students that come out of Stanford are not only technically competent, they share the attitude that certain competencies should be shared and expanded upon experimentally for the betterment of everybody (these days this ethos is embodied in "hacking " and "hacker culture"). Look no further than the Homebrew Computer Club spawning the personal computer revolution in the 70s. The traditions established by hackers then continues today, and it's physically embodied in this area.Palo Alto is the city where much of these student-entrepreneurs live, and companies are founded and based there because of that (at least till they grow large enough to seek accommodations elsewhere). Menlo Park is home to Sand Hill Road, where every marquee venture capital firm has an office. Over time, these specialized cities created a name for themselves, attracting auxiliary professional services like financiers, attorneys, accountants, and other business consultants. Today this specific cluster has become the de facto capital of Silicon Valley, independent of anything it originally offered. [4]There isn't one building, one campus, one location, but rather, a small little cluster of cities where the power lies, and that is the capital of Silicon Valley.Now, the story doesn't end there. We've so far ignored the role San Francisco has to play in possibly being the capital of Silicon Valley, and there is a fair bit of history to explain its role.San Francisco has always been the capital of the Bay Area, and for much of its history from the mid-19th century onwards it served as the capital of the region. The city's port made it a center of commerce, and people emigrated in droves to capitalize on the bounty of the West Coast: industry and finance were booming. There was no Silicon Valley in sight.By the mid-20th century, San Francisco had lost its claim to main port of the region. Across the Bay, the Port of Oakland was better suited for the age of containerized shipping. There was still no Silicon Valley.It was at this point that two things happened that will help explain why San Francisco was not, but now may be, the capital of Silicon Valley.When the shipping industry moved across the Bay, large swaths of warehouses and industrial space south of Market Street (and elsewhere) went unoccupied, and the area began to experience significant urban decay. Industries like banking and law were still prominent SF fixtures, but things weren't as glorious as 50-100 years prior.Scientific advances that had emerged out of a need for sophisticated radar/electronics technology for World War II had led to a booming new industry just south of the city, in the Santa Clara Valley. By the 1960s, innovations led to silicon transistors which started a new industrial boom, giving the region the name 'Silicon Valley.'To support the new high-tech ventures, a new class of financial support known as 'venture capital' emerged simultaneously to serve the needs of budding entrepreuners. They mostly located around where the innovation was taking place, in the Santa Clara Valley. From the 1970s till about now (the early 2010's), the capital of Silicon Valley, as I said earlier, is in and around the Stanford/Palo Alto/Menlo Park area.But things may be changing...A series of factors are coming together to help make San Francisco the capital of Silicon Valley. [5] Notably five main trends:SOMA: Remember the urban decay mentioned earlier? The city and its residents were driven to reverse the situation, and starting in the early to mid 1990s, diverted significant resources to turn things around. This was the birth of SoMa (South-of-Market) as it exists now: a hub of high-tech startups in repurposed warehouses and lofts. Part of this effort included spending a lot on public spaces like the Moscone Center and the Yerba Buena Gardens, places where tech companies from the 'real' Valley could host conferences and events. [6]Take this very interesting photograph below.It's shot from the Bay Bridge in 1971. If you click on it and expand it for a detailed look, you'll see that SoMa is basically just a downtrodden industrial area. Notice all those warehouse-wharfs to the left of the bridge? Most of those are gone now. Oracle Park is of course not even built, and the little marina nearby is absent. All the attractions that make SoMa lively and 'modern' are yet to be built.At the moment this photo was captured, Silicon Valley was flourishing to the south. The dawn of the personal computer was yet 5 years away. SF was in decay, but now, 40 years later, SoMa is as close to a 'capital' of Silicon Valley as you can get.All the restaurants and coffee shops are aflutter with startup talk, people walk to and from their startups and lofts. The dense urban landscape of SoMa has a higher concentration of power now than the suburbia down south, if measured by serendipitous collisions of entrepreneurs and investors on sidewalks. Even Michael Arrington, a self-made Silicon Valley power broker, confesses as much in his blog post entitled, "San Francisco or Palo Alto?" where he says:Most people, though, just want to meet in San Francisco....Specifically, most meetings are in SOMA. And a huge percentage of those meetings, especially the informal ones, are at The Creamery (San Francisco restaurant) in San Francisco....Part of why I like the bay area is because so many people there are in tech that it’s the center of all conversation. Even a few years ago San Francisco didn’t feel like part of the party. Somehow it stole the show. [7]Tax Exemptions: Further on in the decade, tax exemptions were made to make the city more attractive to tech companies (or at least retain the big ones that had already located there). Zynga (company) and Twitter (product) are the big beneficiaries so far, but there is likely to be more over time. [8]Software vs Hardware: The hottest startups of the day are now software/Internet companies, not the hardware companies of the older Silicon Valley. These new companies don't need large, industrial spaces, warehouses, R&D offices, etc that had been developed in the 'real' Valley. Software is a relatively lean operation (in terms of industrial capital), and you could base it out of lower-footprint office buildings if need be.Silicon Valley luminary Marc Andreessen, in an op-ed for the Wall Street Journal entitled, "Is Software Eating the World?" proves the point when he writes:On the back end, software programming tools and Internet-based services make it easy to launch new global software-powered start-ups in many industries—without the need to invest in new infrastructure and train new employees. In 2000, when my partner Ben Horowitz was CEO of the first cloud computing company, Loudcloud, the cost of a customer running a basic Internet application was approximately $150,000 a month. Running that same application today in Amazon's cloud costs about $1,500 a month. [9]Younger Founders & Lifestyle: Startup founders are now also younger than before, and they care about the hustle-and-bustle of city life, which San Francisco provides. Startup founders from the 1960s and 70s were older gentlemen, and it took longer for companies to reach maturity, so even if they were young when they started, by the time they wanted office space, they were old enough where the constraints of boring old suburbia didn't matter. In fact, they were preferable: a safer, quieter place to raise children and grow old.There is a more exaggerated form of this argument as well. Back in the 'golden days' of early Silicon Valley, entrepreneurs likely had PhD's in electrical engineering and related fields, or were working towards them. These days, there is an entire movement in the Valley to convince young college kids (or at least an elite subset) to drop out of school and found companies. [10] There are huge lifestyle differences between these age groups, and the younger in age, the more likely to prefer the city.Transit Options: San Francisco has more transit connections than any other region. You can take CalTrain, BART, the freeway system, or ferries. No other city has as many transit options linking it with the rest of the Bay Area. This is ipso facto a strong indicator of SF's importance.Depending on what your definitions of an industry-region's capital are, you may or may not be partial to viewing San Francisco as the hub of all power, but you can't ignore the trends. Then again, why does there have to be one capital in the first place? Just like nations have multiple capitals (the financial capital of the U.S. is New York and the governmental capital is Washington D.C.), so can an industry-region like Silicon Valley. What may emerge in the coming decade is that the startup/entrepreneur's capital becomes San Francisco, and the financial/VC capital remains in the original 'Valley.'UPDATE [05/2014]: According to a new study (Startup City: The Urban Shift in Venture Capital and High Technology), on a per capita basis, San Francisco now attracts more venture capital than Silicon Valley proper. This is attributed to "walkable, mixed-used [urban environments] ... the newest and most innovative developments in the industry are likely to emerge from urban and urban-like locations."Footnotes[1] I didn't feel it necessary to address whether Silicon Valley itself is the capital of the technology industry. That is already established with a long line of work that details the historical development of this technopolis. Annalee Saxenian's book Regional Advantage: Culture and Competition in Silicon Valley and Route 128 discusses at great length why Silicon Valley became the technological capital of the U.S. See Google Books link: http://books.google.com/books?id=gnh2Rb1rcMIC&printsec=frontcover#v=onepage&q&f=falseI also avoided a discussion on cost-centers and competitive advantage. Between regions, those factors would be central to the discussion, but it shouldn't be applicable within this region. It's not like engineers in Palo Alto are getting paid any more or any less than their San Francisco counterparts. We can't therefore use these factors as a basis.[2] Certainly going by where a trade group or association is located would be silly. While they are standard-setting bodies that govern how a particular industry might behave, they are not necessarily centers of power.[3] This definition is inspired by a series of lectures on economic geography given by Professor Richard Walker of the UC Berkeley Geography Department. See this YouTube video of Lecture 6 of the Geography C110 course (at 1:14:32 specifically):[4] It would be irresponsible not to mention Mountain View as a strong possibility of being part of this cluster. Several reasons:It's really physically close to the existing cluster, so it's not a stretch to tack it on. It's also connected by CalTrain and the expressway system so power brokers and influencers, allowing key people to move easily within this area.It draws power to it, which is a key characteristic of industry-region capitals. More details on this in points 3-7 below...Google (Googleplex): In addition to being one of the world's powerhouse tech companies, brings in lots of people for Google Talks and other events. Smart people are buzzing around the area because of Google.Y Combinator: As I said, if Stanford/Menlo/Palo play mentor and incubator for tech startups, Y Combinator is just as good a mentor these days. Attracts tons of ambitious smart people building the next generation of companies, and that's the type of power that defines capitals.Singularity University: A growing power center that attracts power as well.NASA Ames Research Center: Home to the aforementioned Singularity University and of course, a big draw for science/research.Lots of important startups (but I don't want to tout this too heavily, since other Bay Area cities have lots of startups as well but that's not enough to qualify for 'capital' status)[5] Some may object to San Francisco's inclusion into Silicon Valley since it's technically outside the Santa Clara Valley, from which the region derives part of its name. However, Silicon Valley has morphed into a larger term to encompass the high-tech industry located in the Bay Area (i.e. it's grown out of the physical Santa Clara Valley). For example, Twitter is part of Silicon Valley, but it's located in SF.In fact, some people just use Silicon Valley to refer to the entirety of the American high-tech industry. (People often group Amazon and Microsoft into Silicon Valley, even though they're Seattle companies.) But without further digression, it's safe to say that SF may be considered part of Silicon Valley, even if it's not part of the 'Valley' proper.[6] The investment into large conference/convention spaces definitely paid off. Almost all major tech events in the Bay Area take place in San Francisco. Proof of this is available at my list of major tech events from 2011: Michael Sinanian's answer to What are the major technology events in a given year? .[7] Michael Arrington's blog post: http://uncrunched.com/2012/02/21/san-francisco-or-palo-alto/[8] Tax exemption sources:http://www.nytimes.com/2011/04/04/technology/04tax.html?_r=1&src=busln&pagewanted=allhttp://www.sfexaminer.com/local/development/2012/02/zynga-saved-millions-its-taxeshttp://www.bizjournals.com/sanfrancisco/news/2011/04/05/twitter-payroll-tax-market.html[9] Marc Andreessen's op-ed can be found here: http://online.wsj.com/article/SB10001424053111903480904576512250915629460.html[10] The Thiel Fellowship is at the center of such efforts, with their "20 under 20" campaign. See: http://www.thielfellowship.org/Image/Video CreditsMaps showing Hollywood/Wall Street/Silicon Valley taken and modified with Google Maps.Panoramic view from Bay Bridge (1971): This photo was taken before stitched panorama techniques existed. The original shots were taken by Bruce Steinberg. They were scanned and assembled by Brad Templeton. The original source can be found here: http://pic.templetons.com/cgi-bi...Geography lecture from footnotes is taken from UC Berkeley's YouTube channel; Creative Commons license (Attribution-Noncommercial-No Derivative Works).

Countries Where Bitcoin is Legal and not LegalThe peer-to-peer digital currency Bitcoin made its debut in 2009 and with it ushered in a new era of cryptocurrency. While tax authorities, enforcement agencies and regulators worldwide are still debating best practices, one pertinent question: is Bitcoin legal or illegal? The answer – it depends on the location and activity of the user.Bitcoins are not issued, endorsed, or regulated by any central bank. Instead, they are created through a computer-generated process known as mining. In addition to being a cryptocurrency unrelated to any government, Bitcoin is a peer-to-peer payment system since it does not exist in a physical form. As such, it offers a convenient way to conduct cross-border transactions with no exchange rate fees. It also allows users to remain anonymous.Consumers have greater ability to purchase goods and services with Bitcoin directly at online retailers, pull cash out of Bitcoin ATMs and use Bitcoin at some brick-and-mortar stores. The currency is being traded on exchanges, and virtual currency-related ventures and ICOs draw interest from across the investment spectrum. While Bitcoin appears at glance to be a well-established virtual currency system, there are still no uniform international laws that regulate Bitcoin.Countries that Say Yes to BitcoinBitcoin can be used anonymously to conduct transactions between any account holders, anywhere and anytime across the globe, which makes it attractive to criminals and terror organizations. They may use Bitcoin to buy or sell illegal goods like drugs or weapons. Most countries have not clearly determined the legality of Bitcoin, preferring instead to take a wait-and-see approach. Some countries have indirectly assented to the legal use of Bitcoin by enacting some regulatory oversight. However, Bitcoin is never legally acceptable as a substitute for a country’s legal tender.The United StatesThe United States has taken a generally positive stance toward Bitcoin, though several government agencies work to prevent or reduce Bitcoin use for illegal transactions. Prominent businesses like Dish Network (DISH), the Microsoft Store, sandwich retailer Subway and Bedding, Furniture, Electronics, Jewelry, Clothing & more (OSTK) welcome payment in Bitcoin. The digital currency has also made its way to the U.S. derivatives markets, which speaks about its increasingly legitimate presence.The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has been issuing guidance on Bitcoin since 2013. The Treasury has defined Bitcoin not as currency, but as a money services business (MSB). This places it under the Bank Secrecy Act which requires exchanges and payment processors to adhere to certain responsibilities like reporting, registration, and record keeping. In addition, Bitcoin is categorized as property for taxation purposes by the Internal Revenue Service (IRS).CanadaLike its southern neighbor the United States, Canada maintains a generally Bitcoin-friendly stance while also ensuring the cryptocurrency is not used for money laundering. Bitcoin is viewed as a commodity by the Canada Revenue Agency (CRA). This means that Bitcoin transactions are viewed as barter transactions, and the income generated is considered as business income. The taxation also depends whether the individual has a buying-selling business or is only concerned with investing.Canada considers Bitcoin exchanges to be money service businesses. This brings them under the purview of the anti-money laundering (AML) laws. Bitcoin exchanges need to register with Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), report any suspicious transactions, abide by the compliance plans, and even keep certain records. In addition, some major Canadian banks have banned the use of their credit or debit cards for Bitcoin transactions.AustraliaAustralia considers Bitcoin a currency like any other and allows entities to trade, mine, or buy it.The European UnionThough the European Union (EU) has followed developments in cryptocurrency, it has not issued any official decision on legality, acceptance or regulation. In the absence of central guidance, individual EU countries have developed their own Bitcoin stances.In Finland, the Central Board of Taxes (CBT) has given Bitcoin a value-added tax exempt status by classifying it as a financial service. Bitcoin is treated as a commodity in Finland and not as a currency. The Federal Public Service Finance of Belgium has also made Bitcoin exempt from value added tax (VAT). In Cyprus, Bitcoin are not controlled or regulated either. The Financial Conduct Authority (FCA) in the United Kingdom (U.K.) has a pro-Bitcoin stance and wants the regulatory environment to be supportive of the digital currency. Bitcoin is under certain tax regulations in the U.K. The National Revenue Agency (NRA) of Bulgaria has also brought Bitcoin under its existing taw laws. Germany is open to Bitcoin; it is considered legal but taxed differently depending upon whether the authorities are dealing with exchanges, miners, enterprises or users.Ukraine - LegalThe use of bitcoins is not regulated in Ukraine. Mining is legal type of entrepreneurship.Belarus - LegalThe Decree On the Development of Digital Economy — the decree of Alexander Lukashenko, the President of the Republic of Belarus, which includes measures to liberalize the conditions for conducting business in the sphere of high technologies.The provisions of the decree "On the Development of Digital Economy" create of a legal basis for the circulation of digital currencies and tokens based on blockchain technology, so that resident companies of the High-Tech Park can provide the services of stock markets and exchange offices with cryptocurrencies and attract financing through the ICO. For legal entities, the Decree confers the rights to create and place their own tokens, carry out transactions through stock markets and exchange operators; to individuals the Decree gives the right to engage in mining, to own tokens, to acquire and change them for Belarusian rubles, foreign currency and electronic money, and to bequeath them. Up to 1 Jan In 2023, the Decree excludes revenue and profits from operations with tokens from the taxable base. In relation to individuals, the acquisition and sale of tokens is not considered entrepreneurial activity, and the tokens themselves and income from transactions with them are not subject to declaration. The peculiarity of the introduced regulation is that all operations will have to be carried out through the resident companies of the High Technology Park.In addition, the decree includes:Extension of the validity period of the special legal regime of the High-Tech Park until January 1, 2049, and expansion of the list of activities of resident companies. Under the new rules, developers of blockchain-based solutions, developers of machine learning systems based on artificial neural networks, companies from the medical and biotechnological industries, developers of unmanned vehicles, as well as software developers and publishers can become residents. The list of promising areas is unlimited and can be expanded by the decision of the High-Tech Park supervisory board.Preservation of existing benefits for resident companies in the High-Tech Park, including the cancellation of the profit tax (instead of which a contribution of 1% of the gross revenues proceeding to the administration of the park is applied), reduced to 9% of the personal income tax rate for employees, and the right to contribute to the Social Protection Fund according to the national average figures, and not the actual salaries.Exemption of foreign companies providing marketing, advertising, consulting and other services to the residents of the High-Tech Park from paying value-added tax, as well as paying income tax, which allows to promote IT products of Belarusian companies in foreign markets. To encourage investments, the Decree also exempts foreign companies from the tax on income from the alienation of shares, stakes in the authorized capital and shares in the property of residents of the High-Tech Park (under condition of continuous possession of at least 365 days).Introduction of individual English law institutions for residents of the High-Tech Park, which will make it possible to conclude option contracts, convertible loan agreements, non-competition agreements with employees, agreements with responsibility for enticing employees, irrevocable powers of attorney and other documents common in international practice. This measure is aimed at simplifying the structuring of transactions with foreign capital.Simplification of the regime of currency transactions for residents of the High-Tech Park, including the introduction of a notification procedure for currency transactions, the cancellation of the mandatory written form of foreign trade transactions, the introduction of confirmation of the conducted operations by primary documents drawn up unilaterally. Also, the decree removes restrictions on resident companies for transactions with electronic money and allows opening accounts in foreign banks and credit and financial organizations without obtaining permission from the National Bank of the Republic of Belarus.Simplification of the procedure for recruiting qualified foreign specialists by resident companies of the High-Tech Park, including the abolition of the recruitment permit, the simplified procedure for obtaining a work permit, and the visa-free regime for the founders and employees of resident companies with a term of continuous stay of up to 180 days.Japan - LegalOn 7 March 2014, the Japanese government, in response to a series of questions asked in the National Diet, made a cabinet decision on the legal treatment of bitcoins in the form of answers to the questions. The decision did not see bitcoin as currency nor bond under the current Banking Act and Financial Instruments and Exchange Law, prohibiting banks and securities companies from dealing in bitcoins. The decision also acknowledges that there are no laws to unconditionally prohibit individuals or legal entities from receiving bitcoins in exchange for goods or services. Taxes may be applicable to bitcoins.Do you think of how to make fast profits with your cryptos..? It’s so possible atcenturycoingroup.us because at Century Coin Group USA , you will be able to make double of your bitcoin investment within just seven days..South Korea it is LegalMinors and all foreigners are prohibited from trading cryptocurrencies. Adult South Koreans may trade on registered exchanges using real name accounts at a bank where the exchange also has an account. Both the bank and the exchange are responsible for verifying the customer's identity and enforcing other anti-money-laundering provisions.As of April 2017, cryptocurrency exchange businesses operating in Japan have been regulated by the Payment Services Act. Cryptocurrency exchange businesses have to be registered, keep records, take security measures, and take measures to protect customers. Financial Services Agency (FSA) was established in 2014 for the purpose of establishing a registration platform for cryptocurrency exchange businesses. the law on cryptocurrency transactions must comply with the anti-money laundering law; and measures to protect users investors. The Payment Services Act defines “cryptocurrency” as a property value. The Act also states that cryptocurrency is limited to property values that are stored electronically on electronic devices, not a legal tender.Taiwan - Legal /Banking banFinancial institutions are not allowed to facilitate bitcoin transactions. Regulators have warned the public that bitcoin does not have legal protection, "as the currency is not issued by any monetary authority and is therefore not entitled to legal claims or guarantee of conversion".Financial institutions have been warned by regulators that necessary regulatory actions may be taken if they use bitcoin. TaiwanOn 31 December 2013, Financial Supervisory Commission (Republic of China) (FSC) and CBC issued a joint statement which warns against the use of bitcoins. It is stated that bitcoins remains highly volatile, highly speculative, and is not entitled to legal claims or guarantee of conversion.On 5 January 2014, FSC chairman Tseng Ming-chung stated that FSC will not allow the installation of bitcoin ATM in Taiwan because bitcoin is not a currency and it should not be accepted by individuals and banks as payment.South Africa - LegalIn December 2014 the Reserve Bank of South Africa issued a position paper on virtual currencies whereby it declared that virtual currency had ‘no legal status or regulatory framework’. The South African Revenue Service classified bitcoin as an intangible asset.Namibia-LegalIn September 2017 the Bank of Namibia issued a position paper on virtual currencies entitled[20] wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.Zimbabwe - LegalThe Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari, a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country.Nigeria - LegalAs of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria.However, during the year, the CBN (through its Deputy Director on Banking and Payments System, Musa Itopa-Jimoh) clarified the circular and its stance on bitcoin, citing that a lot of people misinterpret the central bank’s recent warning. It noted that "Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We don’t own it".Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies – blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. ‘Dipo Fatokun.Israel- Yes- LegalAs of 2017, the Israel Tax Authorities issued a statement saying that bitcoin and other cryptocurrencies would not fall under the legal definition of currency, and neither of that of a financial security, but of a taxable asset.[55] Each time a bitcoin is sold, the seller would have to pay a capital gains tax of 25%. Miners, traders of bitcoins would be treated as businesses and would have to pay corporate income tax as well as charge a 17% VATSaudi Arabia - Legal - Banking banFinancial institutions are warned from using bitcoin. The Saudi Arabian Monetary Authority (SAMA) has warned from using bitcoin as it is high risk and its dealers will not be guaranteed any protection or rights.Jordan-Legal- Banking banThe government of Jordan has issued a warning discouraging the use of bitcoin and other similar systems.The Central Bank of Jordan prohibits banks, currency exchanges, financial companies, and payment service companies from dealing in bitcoins or other digital currencies. While it warned the public of risks of bitcoins, and that they are not legal tender, bitcoins are still accepted by small businesses and merchants.Lebanon-LegalThe government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems.Turkey-LegalBitcoin is not regulated as it is not considered to be electronic money according to the law.Iran-Legal-Banking banFinancial institutions are not allowed by central bank to facilitate bitcoin transactions. In April 2018, Central Bank of the Islamic Republic of Iran issued a statement banning the country’s banks and financial institutions from dealing with cryptocurrencies, citing money laundering and terrorism financing risks.Bangladesh - Legal/Banking banFinancial institutions are not allowed to facilitate bitcoin transactions. In September 2014, Bangladesh Bank said that "anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws".India -Legal /Banking banFinance minister Arun Jaitley, in his budget speech on 1 February 2018, stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems."The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system," Jaitley said.In early 2018 India's central bank, the Reserve Bank of India (RBI) announced a ban on the sale or purchase of cryptocurrency for entities regulated by RBI.In 2019, a petition has been filed[by whom?] with the Supreme Court of India challenging the legality of cryptocurrencies and seeking a direction or order restraining their transaction.Countries That Say No to BitcoinWhile Bitcoin is welcomed in many parts of the world, a few countries are wary because of its volatility, decentralized nature, perceived threat to current monetary systems and links to illicit activities like drug trafficking and money laundering. Some nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and use.List of some of the Countries Bitcoin-Cryptos are illegalChina - IllegalBitcoin is essentially banned in China. All banks and other financial institutions like payment processors are prohibited from transacting or dealing in Bitcoin. Cryptocurrency exchanges are banned. The government has cracked down on miners. (Related reading How Bitcoin Can Change The World)Russia - RegulatedBitcoin is not regulated in Russia, though its use as payment for goods or services is illegal. As of November 2016 declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia.[50] Deputy Finance Minister of the Russian Federation Alexei Moiseev said in September 2017 it's "probably illegal" to accept cryptocurrencies payments.[51] However bitcoin market sites are blocked and in court decisions stated that bitcoin is a currency surrogate which is outlawed on the territory of Russian Federation.Vietnam - IllegalVietnam’s government and its state bank maintain that Bitcoin is a not a legitimate payment method, though it is not regulated as an investment.Bolivia, Columbia and Ecuador not legalEl Banco Central de Bolivia has banned the use of Bitcoin and other cryptocurrencies. Columbia does not allow Bitcoin use or investment. Bitcoin and other cryptocurrencies were banned in Ecuador by a majority vote in the national assembly.Algeria it is illegalAccording to the "Journal Officiel" (28 December 2017)The purchase, sale, use, and holding of so-called virtual currency is prohibited. Virtual currency is that used by internet users via the web. It is characterized by the absence of physical support such as coins, notes, payments by cheque or credit card. Any breach of this provision is punishable in accordance with the laws and regulations in force.Egypt it is illegal"Egypt’s Dar al-Ifta, the primary Islamic legislator in Egypt, has issued a religious decree classifying commercial transactions in bitcoin as haram (prohibited under Islamic law).Morocco it is illegalOn 20 November 2017 the exchange office issued a public statement in which it declared, "The Office des Changes wishes to inform the general public that the transactions via virtual currencies constitute an infringement of the exchange regulations, liable to penalties and fines provided for by [existing laws] in force."The following day, the monetary authorities also reacted in a statement issued jointly by the Ministry of Economy and Finance, Bank Al-Maghrib and the Moroccan Capital Market Authority (AMMC), warning against risks associated with bitcoin, which may be used "for illicit or criminal purposes, including money laundering and terrorist financing"On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset". He also warned of its dangers and called for a framework to be put in place for consumer protectionUnited Arab Emirates - Contradictory informationAbsolute ban. According to the Library of Congress "Under article D.7.3 of the Regulatory Framework for Stored Values and an Electronic Payment System, issued by the Central Bank of the United Arab Emirates in January 2017, all transactions in “virtual currencies” (encompassing cryptocurrencies in Arabic) are prohibited."Nevertheless, on 13 February 2018 Dubai gold trader Regal RA DMCC became the first company in the Middle East to get a license to trade cryptocurrencies, the Dubai Multi Commodities Centre said.[53] DMCC's website emphasizes the "cold storage" of cryptocurrencies and states "DMCC’s Crypto-commodities license is for Proprietary Trading in Crypto-commodities only. No initial coin offerings are permitted and no establishment of an exchange is permitted under this license."Nepal it is IllegalAbsolute ban. On 13 August 2017 Nepal Rastra Bank declared bitcoin as illegal.Pakistan it is IllegalAs of 7 April 2018, State Bank of Pakistan [SBP] has announced that bitcoin and other virtual currencies/tokens/ coins are banned in Pakistan. This news was followed right after India's restriction of converting bitcoin and cryptocurrencies into fiat currency. For organizations and institutions it is banned by State Bank of Pakistan. Bank will not get involved if there is any dispute. They will not facilitate any transaction for it.The bank has issued an official notice on its website and has also posted the news on its official Twitter account.The Bottom LineAlthough Bitcoin is now almost 10 years old, many countries still do not have explicit systems that restrict, regulate or ban the cryptocurrency. The decentralized and anonymous nature of Bitcoin has challenged many governments on how to allow legal use while preventing criminal transactions. Many countries are still analyzing ways to regulate the the cryptocurrency. Overall, Bitcoin remains in a legal gray area for much of the world.Thank you!