Bitcoin is a cryptocurrency that has caused a global buzz since its inception in 2009. It has gained a lot of popularity since then and has seen its value skyrocket over time. However, the acceptance of Bitcoin as a legitimate currency has been a little shaky over the years, with different countries having their own opinions on the use of Bitcoin. In this article, we will be discussing the global position on Bitcoin, by country.

1. The United States:

The United States has a mixed verdict on the use of Bitcoin as a currency. Some states have legalized the use of Bitcoins, such as New York, California, and Texas, while some have banned it. The Internal Revenue Service (IRS) also treats Bitcoin as property, and it is subject to taxation.

2. The United Kingdom:

The United Kingdom is one of the few countries that have a positive outlook towards cryptocurrency. The Bank of England is positive about the use of cryptocurrency and has stated that they do not pose a threat to the country's financial stability.

3. Japan:

Japan is known for being one of the most forward-thinking countries in terms of technology, and its stance on Bitcoin proves it. In Japan, Bitcoin is officially recognized as a legal tender, and it is regulated by the Financial Services Agency.

4. China:

China has had a love-hate relationship with Bitcoin over the years. In recent times, the Chinese government has taken a harsh stance against cryptocurrency and has banned Initial Coin Offerings (ICOs) and cryptocurrency exchanges.

5. India:

India is another country that has a very skeptical view of Bitcoin and other cryptocurrencies. The Indian government has put a blanket ban on all cryptocurrencies, and citizens who engage in cryptocurrency trading are liable to pay hefty fines.

6. Australia:

Australia is one of the few countries that have recently legalized the use of Bitcoin as a currency. The Australian Taxation Office (ATO) has also stated that Bitcoin will be treated as an asset, rather than currency.

7. Canada:

Canada has a positive outlook towards cryptocurrency and is one of the few countries to have an authorized Blockchain ETF available. The Canadian government is working towards providing a regulatory framework for cryptocurrency and is keen on preventing any fraudulent activities.

8. Russia:

Russia has had a love-hate relationship with cryptocurrency, and its stance on Bitcoin has been unpredictable. The Russian government has been known to be very restrictive towards cryptocurrencies, and at times, it has banned it outright.

9. Israel:

Israel has a positive outlook towards cryptocurrency and has released guidelines on its use. The Israeli government recognizes Bitcoin as an asset and is subject to taxation.

10. South Korea:

South Korea has been one of the most prominent countries in terms of cryptocurrency adoption. However, it has a complicated relationship with Bitcoin, and its stance has been unpredictable. The South Korean government has implemented regulations to curb fraudulent activities, but it has not banned cryptocurrency outright.

In conclusion, the global position on Bitcoin is mixed, with some countries embracing it and others banning it altogether. The legality of Bitcoin is often determined by the government's stance, and it is important to stay up-to-date on regulation changes in different countries to avoid any legal trouble.