Carrying Bitcoin Internationally
I was reading this question and @Mikaveli's answer regarding a list of things not to bring, including money.
So my question is, what if I bring my laptop across borders and its hard drive has a bitcoin wallet file containing more bitcoin (value-wise) than the maximum amount of currency allowed to bring across the border. Am I legally required to declare it?
What if that wallet file isn't on my laptop, but is stored in the cloud somewhere (setting aside the security risks of that)? Then I get to my destination and download the wallet onto my laptop (presumably deleting it before crossing another border) and maybe do some transactions (such as exchanging bitcoin for the local currency, or paying for things). Does that change the legality? If not, am I legally required to declare all bitcoin I own every time I cross a border?
What if I email the wallet file to a friend (highly trusted friend obviously) in the destination country before leaving? Then nothing except my knowledge of the password has crossed the border with me, though the wallet file did cross the border before me.
Finally, for all three cases (and especially the two where the file crosses the border at a different time than me), what if the wallet file is encrypted with a strong password that only I know? Does that change anything?
EDIT - For the purposes of this questions let's say I'm travelling from the US to France (or another Schengen Zone country)
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Can Bitcoin be used internationally?
Despite its use for buying goods and services, there are still no uniform international laws that regulate Bitcoin. Many developed countries allow Bitcoin to be used, such as the U.S., Canada, and the U.K. Several countries have made it illegal to use Bitcoin, including China and Egypt.Which country accept Bitcoin legally?
El Salvador, was the first country to permit consumers to use the cryptocurrency in all transactions, alongside the US dollar, in September 2021.Which country does not accept Bitcoin?
Countries With a Full Ban on Cryptocurrencies ... Nine countries - Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar, and Tunisia - have currently a full ban on crypto, according to a November 2021 Law Library of Congress report.Which country has highest Bitcoin holders?
Top Countries- India (100 million)
- USA (27 million)
- Nigeria (13 million)
- Vietnam (5.9 million)
- United Kingdom (3.3 million)
Sending Bitcoin Abroad
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Ivan Babydov, Mikhail Nilov, Pavel Danilyuk, Pavel Danilyuk