Bitcoin Forum

*#CRYPTOCURRENCY #G20 #RESULTS 

First conclusions of the G20 meeting for the purposes of the Cryptocurrency scenario, in case you are interested in:

Argentina = Neutral

Australia = Legal

Brazil = Legal

Canada = Legal

China = Temporarily prohibited (illegal)

France = Legal

Germany = Legal

India = Neutral

Indonesia = Neutral

Italy = Legal

Japan = Legal

Mexico = Restricted

Russia = Restricted (previously illegal until the recent unlocking of 40 encryption sites)

Saudi Arabia = Restricted

South Africa = Legal

South Korea = Restricted (Regulatory action previously legal but pending)

Turkey = Legal

UK = Legal

US = Legal

Countries invited for the 2018 G20 meeting

Chile = Legal

Jamaica = Neutral

The Netherlands = Legal

Rwanda = Neutral

Senegal = Neutral

Singapore = Legal

Spain = Legal

15 legal, 7 neutral, 4 Restricted,  1 illegal

It seems to me that the change in the status of bitcoin is not legal in China could compensate for the status of all other countries. But this is a fantasy. It seems to me that the results of the G20 summit can not be commented. Everything remains as it is. For me it is good. I don't expect anything good from legalization.

So you just copied the list from Wikipedia and added some personal opinions, right?
Can you please let me know if is this called G20 and you have only 19 members there?
Also you counted 7 neutral votes , but your list only shows 6.

And since we're on topic, Brazil has clearly said that is doesn't want to regulate bitcoins and the signals are not at all positive.


They've already moved the deadline to July..
https://www.reuters.com/article/us-g20-argentina-bitcoin/g20-agrees-to-monitor-cryptocurrencies-but-no-action-yet-idUSKBN1GW2R9

I just noticed that the banning of cryptocurrency is mostly happened in Asia specially, China and SoKor. And European countries proclaimed that bitcoin is legal as well as USA and other countries in America. Crypto enthusiasts affect much by the g20 summit and I think whatever result will happens, there is always a positive in crypto.

The decision from China is surprising, but as for the rest these are very good news. Does "legal" means that you won't be sentenced for using cryptocurrencies, or that the governments will work on integrating cryptos into their economic system?

This has to do with the politicians here not being much aware of technological fields. If they just show more interest, their opinion might change.

from the result of G20 decision above I hope, Bitcoin price can go up. But why China, forbids Bitcoin. while China is very influential on other countries, and I am happy that my country is neutral, although it is not legal but it is better than China that forbids Bitcoin in its country.

the influence of chinese is very big in kripto .. i was shocked when the news from china greatly affect bitcoin. and it can be concluded that the largest user of crypto is in china. but I think the ban in China will not be long again in the legend

I hope this can have a big effect where the positive presentation is equally negative compared to the far away, I just do not believe in Chinese statements to be temporarily banned in the use of cryptocurrency, I hope no effect to other countries and the ban from china really for a while, where most bitcoin users in china, it makes a disappointment for some china people themselves.

with these results it would be good for the crypto world in my opinion, since many countries that legalize crypto means they can accept technological advances in the field of blockchain and others, and for countries that restrict cryptocurrency I think they are just taking precautions for economic change which is significant in their country, but as I said with this result it means many countries are aware of a bright future in the world of crypto.

They roughly represent around 10 percent of the total countries. This might not yet give a great impact. But nonetheless it's very positive. I think there are still more countries that bitcoin is legal but is not in G20.

By this report,out of 20 countries.Bitcoin is legal in 15 countries.This is the reason for increase in investors day to day.
The people from ban country also invested their money in bitcoin by the hope in bitcoin and crypto currency.
Crypto currency is start to ban in mostly from Asian countries.At first China and then South Korea.

Really the G8 and G20 meetings always have global effects in everything in the world and I do believe that the decision that they made concerning Bitcoins had already have a great impact and it affected the price of Bitcoins positively.

Those are not as many countries but the size of the economy of those countries represent most of the world economy so those countries are very influential and whatever decision they take as a group is going to influence the rest of the countries that are not part of the G20 and even if that was not the case if all the countries in the G20 forbid bitcoin we will be in real trouble, that is why we need to keep following their decisions just in case they change their mind.

A very positive meeting, with the many sounds that legalize bitcoin is certain this will have a positive impact on cryptocurrency. Maybe in the future there will be many countries that give their voice legal to make bitcoin future better.

Well, China is not legislating against crypto as far as we know. The "temporarily restriction" is until their government can figure how to regulate crypto but really all it does is to act as a blanket ban. It's not having much of an effect on existing use cases, perhaps only limiting the establishment of new businesses until more beneficial legislation can come out.

Finally, the information I was looking for appeared also in front of me.


This is the one that makes the slow growth of bitcoin because he only supports their single coin "NEO".

So since they have moved the deadline to July,there seems no immediate threat for cryptos.But with the changing attitude of countries about cryptos day by day,we could expect more improvements and positive declarations about cryptos in the upcoming summit.

South Korea and China are just like a pair of cartoon characters (tom and jerry) both of which are often competitive both in trade nor technology but both works together if their child NEO is harassed.

You are right and that it has been proven in a few days after the G20 finance meeting bitcoin has increased in value although not as much as expected.

I can then conclude that Bitcoin and cryptocurrency for that matter is now facing a better and brighter future as countries are now shifting their policies on it. Soon there will be more open countries than neutral ones. Everything is now subject to debate and we should understand that it can take sometime for the government to finally decide on this issue since this area is relatively new to these officials. We have to give them more time needed to finally come up with regulatory policies paving the way fro recognizing Bitcoin and other cryptos. In the end, it can all be about the tax they can collect and some controls on the trading of the cryptocurrency.

This result is definitely not negative and that is something to shout about. With that many countries having legal status for crypto in their jurisdiction, it would allow crypto to grow and develop more in the future.

Once China figure out how to really regulate crypto, we will see a strong rise for all crypto.

Yes, I'm very interested in Bitcoin, there is no doubt about it. When I first came to know about Bitcoin to my friend, then Bitcoin wanted to do this. But then I did not know anything about Bitcoin. Then I tried to know about Google Bitcoin. Then at the end of a lot, I joined Bitcoin. Bitcoin's abundant benefits impressed me. I'm very glad to be associated with Bitcoin.

This data would simply imply that majority of the county are supporting bitcoin and I now for sure that once
a proper guidelines will be implemented, it would be easy for all country to adopt as they have a uniform guidelines for crypto, the result was
indeed good for the entire crypto.

Amazing data collection with status distribution according to legality and neutrality of the crypto status. I did not know the outcome has come so nicely that almost 15 countries have legal status about the whole crypto thing. I think those countries which are neutral about it are nothing but from third world and they might just get enrolled back into legality status as they start understanding the usage of the crypto currency. It's just matter of time when they will learn greater development of the blockchain. Good analysis, by the way do you have link for the article which decsirbe the whole thing in detail.

The conclusion of that meeting doesn't matter at all (in my opinion) since Bitcoin is already here and nothing can beat this digital currency. They can harm (in a very slightest measure) the price but the stability of this currency will remain unaffected and will grow more instead of decreasing. We will not be surprise even if one day came that those government leaders prohibit the Bitcoin on their respective country since their government could not get any favorable revenues from the decentralization of that currency.

Is this actually data that has been collected from the G20 meetings or did you just copy the data for the G20 countries with their current crypto legality from wikipedia? They are promising some kind of regulation towards July, no idea what exactly it's going to be though. Even though China and South Korea have restrictions placed on crypto, they are still two enormous crypto nations. So this data isn't always going to be as straightforward as you think.

I do think that people are over concerned about the regulations that may end up coming out of the G20 meetings.

The worst the governments can do is restrict exchanges or place tighter regulations on exchanges, that's all. And we're already seeing that happening. Either trading is going to become decentralised, or p2p. BTC cannot die because of regulations - it is decentralised itself.

The G20 summit did not bring too much discussion about the encrypt world. Most countries believe that bitcoin is still a small man, not enough to affect the order and pattern of the world economy. Indeed, the encryption world is still in the early stage of development. Many projects are just a concept. We see that Japan, Germany, Italy and South Africa are recognized for bitcoin status. We should see Russia's change, which will be a positive signal.

Majority is on legalisation and some is on regulation, then it going to the point that only few do not want cryptocurrency to succeed. We all know why and what they’re into, for their countries interest and greediness for wealth distribution. It’s hard to pressure those country to take cryptocurrency out of radar or just giving it space to improve and develop more, most of them have history of being a communist or former and the citizens are no freedom to choose.

Legal or not cryptocurrency in a country it will not make me not interested in cryptocurrency. Because with regulation in every government will not make cryptocurrency die, only those who are afraid of government regulation will make panic so they use panic selling. Whereas cryptocurrency is basically made for a means of payment but now cryptocurrency functionate more as an asset, so if the government makes the regulation and accepts cryptocurrency as a means of payment I will not use it as payment, I will still use cryptocurrency especially bitcoin as a place of investment and trading because with it will make me rich. So, government regulation is useless to me.

OP, where did you get this your list from, cause I don't think I have seen it anywhere or on any news that has to do with the G20 summit meeting. I believe you copied and paste this information from Google through Wikipedia website. If I am correct, the G20 summit meeting was all about regulation on bitcoin and it has nothing to do with whether any countries legalize bitcoin or not. Cause if we are to list, there arr many countries that bitcoin are illiegal not just the one you listed above.

the results of the G20 Summit show every country over its legality that prohibits or supports bitcoin in their respective countries, yes the information is quite good and I say thank you

indeed I see some impact on the crypto market movement after the G20 meeting and from what you mentioned about the policy and also the banning of each country then the conclusion of what was gained from the G20 meeting yesterday. you should be able to explain in more detail because I think at every meeting that do a discussion of course will get a decision that will be a barometer about the growth of bitcoin.

Here India is marked as neutral which might change in few months. The finance minister here has mentioned the deadline as December 2018 and till then , they will come up with rules related to crypto in India. As per the working style of current government, I expect huge tax on the bitcoin investment which will discourage the investors. Another major issue here is that you cannot do any transaction (even $10 in crypto) without KYC.

This was my main concern about crypto because if any regulation would come in G20 or any bad news the market would have taken a completely different path and as investors it would be very hard to adopt to another wave

This data is very helpful. Many are still questioning bitcoin's credibility and that makes it hard for us to persuade somebody to be part of our team. I think the best thing we can do is to be responsible in what we do and say so we can create a good impact in the society. Now, in case you're interested to join don't hesitate to ask, and be guided accordingly so we can all be on the same page and can march together for better future.

G20 yesterday really attracted the attention of many people, especially fans of cryptocurrency, this is very interesting to me where so many countries are pro against cryptocurrency, and there is an Indian state that previously banned bitcoin very firmly, here india whether to re-use bitcoin and legalize it for not some time to come forward, I hope that, where the largest number of users of cryptocurrency in India after resisting bitcoin there is a very high drop, hopefully this will be good for china also because it forbids it for a while. .

It seems that most capitalist countries support digital cryptographic currencies!

People in liberal democracies are more willing to accept this free digital cryptocurrency!

As time goes on, digital cryptographic currency will be accepted by more countries in the world!

I think it's too early to draw conclusions about the G20 summit, since they postponed the results for July. We can expect a few more such postponement of terms, and a few surprises that will affect the price of bitcoin.

The FSB has clearly stated that right now cryptocurrencies aren't that big enough that it need to be regulated. Thus, the postponing of the verdict was inevitable. Acording to FSB, the crypto-assets do not pose a risk to global financial stability and asked countries to actively support it. I believe cryptocurrencies with a mcap of approx $300 Billion, isn't big enough to be of major concern at economic scale. Thus, a neutral verdict from G20 summit as came was expected. After that it is on discrete of countries to formulate any law for cryptocurrencies which they think will be apt for their financial landscape.

Cryptocurrencies won't be a matter of concern at global level such as G20 until the market capitalization is under trillion dollars. We are only gonna get neutral verdicts.

Agreed. Politicians are really into this. Sometimes, they only think about their own good. They will say that it is for the betterment of the nations but the ulterior motive is their. They themselves should only be the rich ones. So sad that the politicians we voted are selfish.

This list simply means that our world is so poor in terms of accepting the futuristic thing like blockchain. I mean why would they not consider something which is far away from the current development aspect but still is available to use just because of efforts of some smartest guys on the earth.

You know what, after 9 years of the development of blockchain it should have been already recognised by the government of different countries and they should have been on the same page of accepting it together. The block chain is having such great potential that it can be used in mobile application to the space exploration mechanism and much more.

I mean look at your list, why the heck those countries are neutral anyway.  ::)

This is a very big impact to the digital economic where the result of G20 meeting proves how really popular is cryptocurrency. Becoming legality only china and south korea temporarily banned crypto exchange but this will returns to digital market if some countries who are not present on G20 gives there full support consisting witj the government approval for bitcoin currency to accept in world market.

Most of them legalize bitcoin, it is a good thing. I am sure when those countries understand about the benefits of using bitcoin then thise countries will legalize bitcoin, bitcoin can be very transparent which is usefull to control funds. If we more concern in positive side of bitcoin then we can get benefits from it like all people here that helped by bitcoin. Government should find good regulations about bitcoin, not to ban bitcoin but to prevent negative impact and allow positive impact.

China is doing a massive fake-out when it comes to crypto-assets. Within the next couple years, they might be the biggest player in the world.

I just posted this to Medium a few hours ago: https://medium.com/@WilliamFreedman/one-block-one-road-94127154e129