7 of 10

The Political Perspective on Bitcoin and the Lightning Network

In the political perspective, Bitcoin and the Lightning Network are still in their infancy. As such, there is not much of a regulatory environment surrounding them yet.

However, many governments have taken stances on cryptocurrency and what it means for their citizens to own it or use it as an investment vehicle. Some countries have decided that they will not allow citizens to buy or sell cryptocurrencies within their borders while others have embraced them wholeheartedly with open arms.

In addition to this regulation from governments around the world comes taxation issues which vary widely depending on where you live: some countries tax capital gains from selling cryptocurrency at rates as high as 50 percent; others do not tax gains at all; some require reporting gains annually while others require reporting only when selling large amounts (over $10k USD).