Bitcoin Forum

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In the development of today's global economy, the role of digital currency is becoming more and more important, and many countries have also begun to implement their own central bank digital currency, which shows that in the near future, the supervision of digital currency will be more and more reasonably loose

India on a contrary was just refreshed their Law regarding crypto
 because i believe that their RBI is the only one
 that pushing the banning of crypto use in their country,while South
 Korea can Lure other asian country to adopt
 this currencies because like Japan they are one of the Biggest and
 richest country in the continent,and also
Those 2 mentioned above can help the adoption to come reality in
 the countries next to them.

Recently read the news about this. I don’t remember which country. He is going to invest in cryptocurrency, but for some reason no one is happy about this. Everyone considers this a rash move. I don’t know how it will end, I think it will last a long time. If you see the news again, I will describe in more detail.

India did not have any law which stated a ban on cryptocurrency. It has always allowed trading and holding of cryptocurrency at the investors risk. The government has always stated that cryptocurrency cannot be banned as it is nota physical currency and is not consider as a legal tender.

The hear of all banks which is known as RBI had placed a ban on transactions which involved cryptocurrency. To overcome this situation Indian crypto community moved to the supreme court against this ban and in the mean time implemented P2P system. Now the ruling has been given in favour of the community and everything is normal as it was earlier.

I am not sure whether the neighbouring countries will also follow the same principle. But, currently except India all countries that are neighbouring to it have banned cryptocurrency transaction. They are Pakistan, Nepal, Bangladesh and Srilanka.

As I can see it looks like many will follow the path those countries mentioned. With the current virus that has been on the news lately, those countries realize the potential of digital currencies to be more valuable on the future so they started to do it. Italy becomes interested on blockchain and even allow their bank to do some trading, well for an online wallet purse, everythinf would be easy to access. But I am concerned about the banking industry if those blockchain will continue to adopt by most that would be a real risk to their business. Instead of using bank, people will tend over blockchain projects to process their money. But blockchain is not perfect and there are still flaws to this system.

It has already stated so many times of the crypto adoption needs the more time. We must realize if those countries must try to explore or at least try to dig the potential of crypto to be used as the n ext generation of stock market.
The adoption is about to begin and our journey is still very long consider we were just about to start.

I believe the next will be US

The really big ones that matter at the moment have not, however,,, and I am talking about United States and China.

They are still making it very hard for crypto companies to do stuff,,, even for individual P2p trading it is illegal, which is ridiculous as people go ahead and do it anyway.

So I say,,, it does not matter in the end. Crypto will grow out of that.

Yes it feels good knowing that more and more countries are coming up with lesser and friendly regulations which will accommodate crypto projects and I think this shows that, these countries are understanding that crypto is here to stay with us and will make sense they tap into its potentials early. As for other countries opening up, well, hardly can anyone say because every country have their perspectives about crypto thus we can only but hope they do it sooner than later.

As far as I know, China is preparing to issue cryptocurrencies, which is a great signal for cryptocurrencies and blockchain, if they are successful and widely used, I believe that this whole market will grow and not be constrained like before

I know the reality of this will be a great joy to crypto industry.  The interest of some country governments policies in crptos will go a long way in increasing the adoption and will welcome more investors into the industry.  This is our desire and we are optimistic that more countries will come to the light of this.

Yes, although there are still some countries that are not friendly to cryptocurrencies, but I think this is because the development of cryptocurrencies is still in the preliminary stage, it will become more and more perfect in the future, and gradually be accepted

Most of the countries are waiting on standby and watching out how the countries that allowed are progressing. Definitely more countries will ease regulations in the future.

Big countries seemed to be crypto friendly, so I guess more countries will just follow.

What I really like to see in the future is that China will become pro crypto and they will allow bitcoin and other crypto to used by their citizen for online transaction and for sure the crypto space will boom more since what makes the crypto market success is a massive adoption and it will only happen if the market will be fully legalized.

The more countries that legalize cryptocurrency and have regulations, I think will at least attract the interest of the public to invest. In addition, the adoption process will continue to grow and this makes the merchants dare to accept payment in the form of crypto

From my own personal point of view, I think crypto friendly regulations are good for the better sanitization of the crypto space,  I mean look around, things are not in order nor are they mostly done properly, it is because of regulations we are able to co-exist as people in our homes, countries, if you want to have a smooth and healthy crypto environment, and a mass adoption of both government and individual's all around the world,  friendly regulations is important.

Agree, regulation will affect investor interest in investing in the cryptocurrency market. Every investor would need legal certainty and with regulations, investors will feel comfortable when deciding to save cryptocurrency

Many Asian countries are neutral and ok with cryptocurrencies so you missed a lot of them. And one of the country that has been getting noise from the community was Malta. One of the first country that has announced it's support to cryptocurrencies.

I barely remember the talks during G20 but that added exposure for cryptocurrency. And the first countries that has adopted cryptocurrency and made appropriate legality measures will be followed by those countries that are still testing the waters.

It seems like the new trend and it is becoming the binding to some governments to do that even if they do not want to due to various factors, one is the futuristic technology where they will lag behind the world if they do not adopt it. Second is public pressure who wants it for investments and payments thirdly i have seen courts in some countries ruling in favor of crypto which is great thing.

There is no straight yes or no answer here since we don't know the whole picture yet but based from what I see some countries will still have laws against crypto and the only thing that could change them are the countries who have crypto friendly laws. What I mean about that is if these countries who have unfavorable laws in crypto are seeing that these countries with crypto friendly laws are benefiting from the growth of the crypto industry in their country they will see that they are missing a big opportunity. That's why you will see a lot of countries who have been against Bitcoin like India and Russia changing their opinion with crypto since they know that they are being left out.

OP do you have any links to prove your statement? Many countries are allowing cryptos to trade on their country but they didn't made it legal as means of payment.

And in recent days people are confusing with digital currency and crypto currency, China announced a digital payment platform to avoid the spread but people though that they adopted crypto currencies and allowing the payments to takes place instead of their own fiat.

Yeah, they might but I doubt its going to be anytime soon. Currently, there are many countries out there that are kinda against crypto currencies. The government of those countries itself uses the media to spread only the negative aspect of cryptocurrencies. But, they do have their own reasons.
More countries will start crypto friendly legislation, they may start making their own coins, but unfortunately, they are going to be more like a centralized coin.

If we analyse what is happening in the world and the post corona scenario i can easily assume that world will move towards paperless society, more and more departments and businesses will convert to online/digital. Fiat or paper money will be discouraged and world will become pro crypto which will also result in mass adoption and i see it happening in next 12 to 18 months. So yes we will see more and more crypto friendly legislation all around the world in the coming months.

The biggest hurdle seem to be US govt. And Sec there that seem to have unclear and confusing policies regarding crypto projects so it is high time they streamline their policies regarding crypto because US is considered the hub of technology and innovation so if they will not join the crypro revolution other countries like China can lead which definitely will be bad for American dominance.

We know that the countries mentioned by the OP are among the countries that influence. Technological progress and open thinking from these countries related to crypto can be a reference for other countries. Of course, this will have a positive impact. Cryptocurrency has a positive side even though most countries are still concerned about its use for illegal activities due to anonymity, but the benefits associated with advancing technological progress cannot be ignored.

Right, like evolution, this change takes a long time. Everything needs a process right? then this can be an opportunity for us to learn and use this ecosystem as well as possible before it really becomes something common.

There is yet no green light as regards the US government having a positive response or total acceptance of cryptocurrency. Also, it does not outrightly seem they are totally against it. What they do is protect their citizens against fraudulent projects that probably sell tokens illegally. They have accepted that projects that issue security tokens mainly, because they know such will not be subject to crypto volatility. I know that if crypto is regulated today, they will come out once to fully support it.

First it is wonderful knowing that cryptocurrency is now gaining attention to the extent countries are now passing bills and adjusting their regulations to accept and support the crypto space. What I think from this is, other countries will slowly ease up as well because crypto is a global thing and for it to survive till now while growing to worth so much more shows that there is more to be expected in the future.

I think due to corona virus make some legislator see how the cryptocurrency would benefit them in this hard time. After this corona virus end, I don't know if they would keen on carrying out and pass any bill to help cryptocurrency become more mainstream. If everything back to normal, the banking system sure won't allow their pie share to any 'cryptocurrency'.

It would seem, in the current conditions of the coronavirus, it would be self-evident to make favorable conditions for the development of cashless payments using cryptocurrency. But bankers will never give even a small part of their profits. Total control over finances from their point of view should be with a limited circle of the elect. Therefore, all this is a matter of the distant future.

I am not really sure about this. Someone was saying that if the economy should start falling because of this Coronavirus pandemic, the government might have to stop people from making use of cryptocurrency. I don't know how right that might be, but I don't hope for it to happen. A lot of experts have been predicting a recession in this time of Coronavirus, and we don't know for how long it's going to be, I hope it doesn't last more than a few months and doesn't result in anything that will affect cryptocurrencies, especially Bitcoin. I'm looking forward to a better future in Bitcoin, when every country will learn to accept it.

They try their own coins but they will be proven wrong over the time. I believe trying their own coins will be helping people to adopt bitcoins kind of decentralized coins more deliberately after finding privacy issues with government based coins. So, some countries may work in favor of bitcoin adoption and some may directly legalize bitcoins.

I am only interested in Chinese cryptocurrencies. They are doing research on it and coming soon. If they succeed, this market will be positively affected and many new investors will participate in this market.

I hope those legislators will see the benefits of using cryptocurrency especially in this time of crisis. Cashless payment is very commendable as fiat money is one of the possible sources of this virus. I believe they will seriously consider the use of cryptocurrencies and look at the positive side of using it. Anyway, people can use it or merchants can integrate it in their payment system without waiting their approval unless they will totally ban the usage of crypto.

China has already the blockchain jobs and the release of digital yuan has already proven if crypto was also giving a huge impact on china to release the new regulation and innovation. More countries have already started to roll our their innovation to follow the trend that happened with cryptocurrency.
Crypto has brought a new trend for all countries to create their own innovation and started to leave the traditional crypto slowly. All of the countries will be crypto-friendly countries.

Definitely many countries now consider them as legal tender like India, France etc.. crypto is going to rule the world in near future.

The hot topic across the world is Chinese crypto where many of them are eagerly waiting to Invest on it. With over 1billion people in China they will surely come with strong capability especially when it comes to payment because they are already  the leader when it comes to mobile payment.

What so good about Chinese crypto? I know Chinese afe very good on business and everywhere they have community. But one thing I hate about them is their being selfish and doing all they can jusy to grow alone. I really did hope that this corona virus is not their planned. Legislation is not hard for a communist country, thats why open and democratic one are very strict about crypto cause as we hate it there are also negative effect on economy and thats what they are studying.