Bitcoin Forum

Not less than a week ago, India (https://crypto-potential.com/post/supreme-court-allows-trading-in-cryptocurrency-cancels-ban-imposed-by-rbi), South Korea (https://crypto-potential.com/post/amendment-to-special-reporting-act-passes-%E2%80%93-cryptocurrency-now-fully-legal-in-south-korea1) and Germany (https://crypto-potential.com/post/germany-recognizes-bitcoin-as-a-legal-financial-instrument) made significant progress towards legalizing cryptocurrency and Bitcoin.


NOW France joined as well


Source:

https://crypto-potential.com/post/bitcoin-(btc)-now-qualified-as-legal-form-of-money-by-french-authorities

Their so called legalization process is highly biased , they put a lot and lot of tax on bitcoins compared to other investments .
People are trying to get it all figured out but .. thats all we can do . Even in India I don't think I agree with the taxes they have put upon the cryptocurrencies.
But it is a good thing that they are legalizing it but we still have a long way to go .
Laws to protect the cryptocurrencies should be implemented separately ! Which would increase the positive side of the coin.. and encourage people to look into it .

Countires legalizing cryptocurrencies.

Adoption going up, prices going down,hmm

wait a few months and you will see the impact

I don’t know, but I don’t think that the court’s decision in that case is the opinion of the organizational community in France, that it is a court’s ruling on a specific issue and not a government decision or a vacation in Parliament.
Generally, legislative laws are proceeding in a slow manner, so do not expect such decisions to happen unless there are real political motives.
I mean with the real decisions being acceptance as a payment system and not just legislation for taxing.

It is sad knowing how much would it cost to a person using bitcoin in such country like this that tax is always on talk. But maybe this is the consequence of being in spotlight for adoption process right now. Countries are slowly taking the grant on making the bitcoin recognizable currency and I don't find it biased if this is the case, It is just the right thing to do to make it under control.
Everything has a positive and negative effects, I guess we are going to feel the effects when we start implementing this on way more countries especially in Europe. Regulations and Laws are pretty hard to pass on this I can feel it.

You are right! All of these big countries adoption in crypto will have a huge impact on Bitcoin price! Right now, I think Bitcoin is making correction and price may go to 7800 USD! After that halving hype, and big country adoption will impact on Bitcoin price! So, We can expect a very good time in the crypto market in the coming months!

I think that this is good in any case, since society is not yet ready for any changes. Therefore, such steps by governments give direction to people. Everything is gradually moving towards the fact that Bitcoin will be used officially everywhere.

as time goes by, more and more countries will follow through. they are now realizing the benefits in utilizing bitcoin or crypto. with this development, the adoption will continue to increase and so is the demand of bitcoin. with the demand comes the increase of value of bitcoin. so in the coming months or years, we may be seeing its price increase. if bitcoin will be used like a regular fiat currency in payment, in time, crypto will not be treated only as investment but like the paper money. and this will drive to increase its value because bitcoin has fixed supply.

Another good news of Bitcoin progress this month. This may bring positive impacts on Bitcoin adoption around the world. With a series of positive news, I assume other countries probably consider doing the same thing. So, we will have a chance to see other legalization news related to cryptocurrency and Bitcoin this year.

>With a series of this news, I'm pretty sure that investors will be more confident to invest the funds in crypto.

France, India and South Korea have strong economies so this should bode well for the globalization of bitcoin as a legal currency.  ;D

We have come a long way since the early days.

Soon we will see more exchanges and wallets on the market with many more people supporting them.

European countries are slowly adopting Bitcoin and this is a very big news to Bitcoin users and investors because through this decision, more people will be able to acknowledge the use of Bitcoin and to be more curious about it. Now, the thing that should be considered as of now by traders and investors is the unstable price of Bitcoin. They must be careful with their transactions and in no time, I know that more countries would consider doing the same decision not only to go with the flow, but because they are considering their country's future as well as their people.

I think we just need to be more positive just look at the bright side more country has made crypto legal for their people.
It is for the long term effect so don't let the current situation affect us.
The price could always bounce back so relax and let's wait for it to happen.

The whole world are now slowly accepting cryptocurrency. At firtst these countries are really suspicious about it especially bitcoin but as the progress and usability has been recognized I think people should know and its time to continue their support for a growing business which most countries can benefit later on.


But dont expect a lot, dont forget there are still anti crypto countries that will do everything just to let it under the control of their authority. I will not speak of these countries who wanted to have control over it instead being a regulators.

If the reason to legalize bitcoin to acquire some taxes from the investors then it's not totally good news at all. but honestly, it's good to hear than some other country banning the use or mining it. for some reason, these big countries are opening the door for bitcoin and the other cryptocurrency out there. I wonder what would be its effect on the holders of those countries, are they gonna pay some taxes now? or remain anonymous so that their government won't get any penny from them.

it should be explained, since the court ruled out that BTC is money in the sense that it is fungible, and you cannot ask for dividends on loaned BTC, in this particular case it is BCH that hard forked during period of loan

it is a first step to legalization, but status did not changed officially, since the court cannot change laws with this verdict

It was once been rejected but the time has come that it was also been seen its potentiality where we can't deny that a lot of people are still looking at it.
That's sound an encouraging view to the other countries who are still in the doubts and buried that doubts in the coming days. This thing may help others to recognize and could French appreciate how Bitcoin plays an important role in the developing countries which particularly where they belong.

I weird now, when I saw a lot of good information that come to bitcoin but its price just decrease even now the decrease price is very drastic. Usually, when this kind of information arise then we will see bitcoin price will going up drastically even more with halving event issue that should be an another bull run, but it hasn't happened yet. However I am happy to see this news because I have known bitcoin and crytocurrency two years ago and it will become a mainstream stuff for all people on this world.

There's no doubt that the France will eventually qualified bitcoin as a legal form of money or source of money because the last time there's someone who make a thread about students that are studying bitcoin or cryptocurrency from France which is french students so there's no doubt that eventually friends will be able to accept bitcoin or adaptation of it because as of now students are studying it and some professors are teaching their students about this kind of form of money.

If you have income,you have to pay taxes.It doesn't matter if your income is in cryptocurrencies or fiat.That's a big part going business or trading.I prefer Bitcoin to be legalized and have taxes rather than being completely banned in the western world.It looks that more countries will become somewhat crypto-friendly,but with all the negative parts- KYC,taxes,etc. which is unavoidable,if we want mass cryptocurrency adoption we have to handle the "not so pleasant" regulations.I hope that all the good news will help for a massive price growth,when the markets return on the bullish trend.