Is Bitcoin legal?

First of all, Bitcoin is not an internal currency; rather, it's a decentralized currency. Internal currencies are mostly legal because they are an asset and their use is obvious.

The main question is whether currency-only DApps are legal or not. The straight answer is that it's legal in many countries. Very few countries have made it illegal and most are yet to decide.

Here are a few reasons why some countries have made it illegal and most are yet to decide:

• Due to the identity issue in DApps, user accounts don't have any identity associated with them in Bitcoin; therefore, it can be used for money laundering
• These virtual currencies are very volatile, so there is a higher risk of people losing money
• It is really easy to evade taxes when using virtual currencies