Bitcoin Forum

Will China, India and other countries follow the same path?

Even if America will declare to the world that they will legalize and adopt bitcoin to all levels of the society we cannot be sure if other countries who banned bitcoin will also adopt and legalize bitcoin. But the chances are high since America is one of the countries that the world is looking up to in terms of economy and finances. So possibly many of them will accept bitcoin.

It's an interesting hypothetical, but truth be told, the US are probably the last nation on Earth who would take the lead on this as they enjoy the benefits of the Dollar's dominant position in the world economy (although how it still maintains that dominance is anyone's guess).  It's fair to assume they aren't looking to make it that easy for BTC to complete on the global stage.  Each country is going to weigh up the pros and cons to their national interests and act accordingly.

More likley USA will see cryptocurrency as securities or some sort of assets than they will see it a real currency. But since they allow even exchanges to operate now on there we can see that they are somewhat looking good at crypto, specially with latest news regarding regulation. However "rich" countries such as USA, China and others are looking for ways to regulate this field because they know if they fall behind whole mess can show up and since you can't stop this thing at least try to regulate some part of it.

Bitcoin will be banned in USA.

Only 8% Americans have Bitcoins and with Donald Trump building the giant wall on Mexico border to stop drugs from Mexico and Bitcoin famous for being used in illegal activities and drug deals and ISIS terrorists having $30,000,000 in Bitcoins.

I think you need to do some more research. The usage of Bitcoin in China and India is legal. In the United States, it is currently legal in all of their 52 states, although each state has their own policies. Overall, there are around 69 countries or territory where usage of Bitcoin is legal.

The issue of legalizing bitcoins as a separate type of digital currency has been under consideration in dozens of states for a long time. I think that the state, if there are no threats to the monetary system, territorial integrity and health of the population, there is no special interest in cryptocurrency prohibitions.

   Competition between countries is not only in battlefields. It fights in battlefields and becomes a result. But the main competition is what we call the cold war. The countries are actually fighting, but nobody knows it.
   How is this happening?
   There is always a race to be the best. Russia and America do not fight on battlefields. But it is always a rival to each other. China and America are the same. These examples can be increased.
   Now it seems that countries banned cryptography. But it is not. They are all following secretly. They're making preparations. When any one moves, the others will make their moves.
   Bitcoin is the future of the world. Digital money is now in our lives. This can not be prevented ....

Do We really authorize bitcoin ..? If this is true news chances are China, India and other countries will follow Usa. but I'm not sure Usa will legalize and adopt bitcoin

That's a distinct possibility.  One academic and former regulator (https://www.nytimes.com/2018/04/22/technology/gensler-mit-blockchain.html) is pushing for Ethereum and Ripple to be classified as securities, but believes Bitcoin, Litecoin and Monero may potentially escape that classification due to not being launched as ICOs.  Basically, you weren't able to buy BTC/LTC/XMR before those networks were live, whereas ETH and XRP could be purchased as tokens and then redeemed once they launched.  We'll have to wait and see what happens.

If Amerika will declare to the world that they will legalize and adopt bitcoin for all levels of society, we can not be sure if other countries that ban bitcoin will also adopt and authorize bitcoin. But the likelihood is great because America is one of the economically and financially influential countries. So maybe many of them will accept bitcoin.

technology will always go forward and expand to facilitate human and will always be perfected so this will always develop and will be much better and more organized bitcoin will penetrate the whole world of india and world

Thanks for your info.. I was thinking that too, maybe if America does other will also. hope America legalize it!!!

You are wrong,the status of bitcoin in those countries are neither legal nor illegal which means we are free to use bitcoin in those countries but the government didn't have any conclusion about this yet.But if a country like USA totally legalize it then other small countries also might follow them but the countries like China and India are big enough countries so they might take their own decisions.

Of course they will not follow the US. Each country has its own sovereign, although US is the number 1 country in the world, but it doesn't mean that whatever they do certain country will follow suit. Besides, its country mentioned above has its own reason why they banned or at least put a tighter regulations and I don't see them making a U-turn and changing their hard stance against bitcoin and crypto in general.

For me, it would definitely help for them to consider legalizing it also but as for the final judgement nobody can really say. But if a superpower is benefiting from it, it's not far off that some countries will follow suit.

Would be the last Nation on Earth..eeerr. if i can reach that moment

Yeah, nobody can really say for now :( :(

Yes of course the bitcoin will flourish and many people who want a bitcoin and it adds to the popularity of bitcoin and value.

I don't think it will happen just yet because they all want to preserve their national currencies and have control over money. I do think though each country might digitize their own currencies and use their own blockchain protocols, so they will still own the rights to control the flow of money, unlike with Bitcoin, that is now too decentralized for any one country to govern or control it.

I'm not sure about that, but if US legalize Bitcoin " with positive reasons "
I think it will give effect to some countries because as we know US is an influential country and maybe many countries will follow to legalize Bitcoin if they realize the advantages of that decision

No they won't, I doubt they'll follow the decision of other countries like the USA. Every country has it's own reason why they don't want to legalize Bitcoin. Also you're misleading people with your post Bitcoin is still legal in India there are still some active bitcoin exchanges based from India.

Even if they'll ban Bitcoin in the future it won't be stopped, there's different ways to avoid getting caught and it's not like the government can easily track anyone's bitcoin address.

Third world countries and developing countries will need decades to go cashless and adopt crypto-economy.

Might be? because US is a superpower country which has a lot of influence to the world that is why these countries behind it will surely think twice.If they are going to take it for granted,and the cryptocurrencies grew a lot they are going to be late as most of the countries are going to be more ahead to them that is why im sure it the U.S ever going to legalize it our market will be more massive.

The time will come. Cash  becomes illegal and every transaction is trackable with crypto. The mass adaption is in process, they smart, we earn money by holding/ trading and love the crypto stuff. And they have to legalize it, for technical progress.

why has nobody mentioned this yet: bitcoin is already legal in United States of America! it has been for many years, i don't remember when but it was probably somewhere in 2009 or 2010 at most. that is how all these companies such as Coinbase, Circle, Gemeni,... have been working for years there!

If United States Bitcoin is valid then it must be happy news. There is nothing to be surprised. Because the biggest countries in the world are accepting it. I think the US state decided to accept it considering the country's economy's progress. Now more countries will be empowered to accept this decision by the US. As a result, Bitcoin will be the world's number one currency and it will be able to surpass other currencies.

Are you sure isis have that much amount?

I think they accept it, when they make bitcoin to be illegal, I think we will all hear the news, and that will also affect the bitcoin price. well, for now, I think they are still thinking about bitcoin placement in their country.

Even if US legalizes it (it has not made it illegal either), India would be the last country to legalize such a thing, unless it realizes the huge potential to attract trade and investments via ICO route or getting global startups scene to invest into India. In my opinion, India looks at other countries as guinea pigs, where policies are put to test, and observes the flaws and them improvises upon them before introducing it to its own structure.

China has an entirely different agenda and 'why' (of world domination) and would repel bitcoins till it aligns with its own agendas.

None of these countries follow US or any other countries for monetary policies blindly, but definitely are influenced to some extend.

BTC is legal in the United States, and it also collects taxes from BTC!

Other countries have not been as open to BTC as the us, and China and India have banned BTC.

But in the future, BTC will be accepted all over the world!

No, I don't think so. Bitcoin is something that can make people free from the government at some point. While US is a democratic country and the govs don't mind changes in favour of society, China and India aim to reduce society influence.

Very interesting Article, i think Gensler is speaking his mind out not in favour or against Bitcoin.

omg! hell yeah, coinbase having no trouble till now.

Crypto-currencies are still poorly regulated, and this inhibits the development of trade with them. But US regulators are not burning with a big desire to take under their responsibility a sector that is associated not only with useful technologies, but also with links to crime.

US authorities have granted permission to CME Group Inc., the world's largest marketplace operator and marketplace offering Bitcoin futures or futures contracts. Authorities have also granted permission to CBOE Futures Exchange Holdings Inc. to trade Bitcoin futures contracts.

we know that united states are the big country and all country that are smaller than united states usually follow the path of the united state do, so if united states legalize bitcoin i think other small country will follow this too with good reason, and i think it will good for us if its happen in short time

US is trying to control a whole world. I don't think they will legalize BTC, because it will give so much freedom to the people. And mainly for developing countries.

i think that bitcoin is already legal in united states and as far as i know, bitcoin is first originated in the u.s , therfor that country will probably accept and legalize bitcoin.  i only heard a few countries that ban and restricts bitcoin such as china , korea , india , russia , etc but i didnt heard any news that bitcoin has been banned on the u.s

u.s country is not strict unlike to any other countries especially that i mentioned above. u.s will always accept bitcoin and other cryptos because u.s is a country that loves new technology and they always wanted to be first when it comes to evolution.

Somehow, eventually they will do it and if they do not I know that they are going to be left out of the race and everybody will start to adapt it.

I think they have not yet legalized bitcoin in the short-time because bitcoin for them is still new and they need to learn more about the cryptocurrency, especially in the blockchain technology. but somehow, I think they can legalize the cryptocurrency and of course bitcoin to be used freely by their people if they can take part in the blockchain technology which they cannot interfere with the blockchain technology. they can make a statement to legalize bitcoin later if they are finished to learn about bitcoin.

If the bitcoin community continues to develop and progress, it is believed that some states in the United States will legitimize special currency after a number of regulatory regimes, and China and India will soon follow the legalization of bitcoin. Of course, the legalization of bitcoin in the United States is not easy. We all know the strong position of the dollar in the world, and the legalization of bitcoin may touch the interests of the dollar.

I think you have lack of knowledge. Bitcoin is already legal in United state. Bitcoin Research Survey found that More than 60% people of united states know about bitcoin and only 5% of them are using it.  Most of them are male under 34 of age. My uncle lives in India and he own some coin. I heard china banned some use of ICO but i don't know when it become illegal.

Not because America legalized it doesn’t mean the other countries would do it as well. It is still up to them whether they see Bitcoin as a threat to their economy as well as their national currency. The decision would reflect on their perspective as a nation themselves not other countries’ decision.

I think yes. Technology will always go forward and expand to facilitate human and will always be perfected so this will always develop. For example, Ukraine has already special law about cryptoccurency

Information about legal bitcoin in the United States. do you have evidence? So why are all ICOs restricted to US citizens? To my knowledge, only Japan is currently legalizing bitcoin in the direction of legitimacy and ensuring bitcoin legality for trade and exchange in the crypto market. There are also Germany, Russia, UK, Canada ... they have good sympathy and bitcoin evaluation positive. They can accept bitcoin in the near future with a clear reform or clarification of legality and law for crypto.
That can happen. They are not necessarily a coalition and are unified by the individual governments' laws of vision and evaluation for the crypto and bitcoin markets.

first to say that bitcoin is legal in the USA

Is Bitcoin legal in the US? (https://www.investopedia.com/ask/answers/121515/bitcoin-legal-us.asp)

you should see the policies of China, China is a country that has shady policies, is a country where its citizens are not free, China does not follow the same steps as the US, on the contrary, China does the opposite USA does.

India is another country that has doubts about what to do, so it is difficult to say what they will do, but surely they do not follow the same steps as the USA


most of your post are made to criticize bitcoin


Good question, I'm curious to know too.

i think usa now accept bitcoin but not legalize yet but if they legalize btc then surely china will accept it again.
bitcoin is a technology and most country will use it :)

I think that many people mix the meanings of legal and regulation. As far as I know Bitcoin was never illegal in USA but what might happen now are attempts for regulation and these are different things.
But I think it's yet to see what kind of policy will be introduced and how will be applied to Bitcoin and other cryptocurrencies. Also it doesn't have to mean that the policy will be the same in all USA states.

The first question to answer is Bitcoin even illegal in U.S.A in the first place? Because last time I checked the State of Arizona has passed a bill (https://atozforex.com/news/arizona-approves-bill-to-pay-taxes-with-crypto/) allowing their residents to pay their taxes not only with Bitcoin but other cryptocurrecies. Remember what isn't classified as illegal is legal, just like cocaine before which you can even transport it in planes. The same as China and India, China is the biggest country where a lot of people think Bitcoin and other cryptocurrencies is illegal which is really annoying as they are not doing their research and news related to China will most likely be FUD. India as well, Bitcoin as a payment method is not allowed but other things such as trading and mining is allowed in their country, you can even exchange it to their fiat without breaking any law.

Im not sure about china,but im sure india will collaborate first before accepting it,united states has some influence to most of the country which is why i am sure if U.S will legalize bitcoin,these countries are going to follow its footstep because the trend is always coming from the western countries that is why.

If America fully legalizes bitcoins then the rest of the world will more than likely follow suit because fact is America does influence world finances with their economic policies , majority of world countries does business with America and so they would follow suit because it would make economic sense to do so.

It is highly unlikely to see some changes from China simply because USA legalized bitcoin, their political system is much different from other parts of the world but India on the other hand might follow the path of US as they are already trying to ban the usage of fiat currency to purchase bitcoin is simply because they do not understand what direction to take or they are capable to come up with any regulation, if US legalize bitcoin it would make an impact for the rest of the worlds to follow or to make some changes with their existing regulations.

Since the United States mostly set the path for other economies to follow; I think U.S legalizing bitcoin would have a great impact on other economies in following suit. However, It is unlikely for U.S to legalize bitcoin due to terrorist attacks and other illegal activities which it is believed bitcoin is a major contributor

It is not really about who will follow. One country at a time is also good. There are a lot of paperworks to be done and hearings to attend to before that happens.
That is a step that makes a lot of difference. Actually it will be a leap.
Say goodbye to the fiat version or it could just become a back up whenever there is a power outage.  ;D
If you are asking if they will follow then Yes they might. But they might be looking at what will happen first before implementing it to their own countries.

well no one is sure about the decisions united states and other big countries will make about bitcoin in future, we only pray and hope bitcoin become fully accepted globally

If the US legalizes bitcoin, although it's not illegal, so if the US accepts bitcoin as a currency, other countries will follow for sure. Maybe China will not follow immediately, but in the long run they will have to. But it will take a while, tax authorities are not sure how to handle this in a proper way and it will take a lot of discussion before there's consensus.

I have seen many of your skeptical responses and threads throughout this forum, first and foremost you have to understand is that, if you think bitcoin will be used in illegal activities, so does the dollar, there is no sentiment when it comes to criminals and what i would like to know is that, how on earth do you have these figures about the amount of dollars worth of bitcoin the ISIS terrorist are owning. ::)
If USA accepts bitcoin, it will encourage the third world countries who are in a tangle on what to do with the technology will have an idea on how to regulate it.

I think that many countries will reach for the USA if it happens!
China will definitely support, as the country of the future!
The rest think gradually the same

I think so cause if bitcoin gets legalized than its price will start sky rocketing over night and no country would want to miss out on the opportunity to get into the crypto markets. But I don't think the US is going to legalize bitcoin that easily as it something that they aren't used to and don't like something they don't control.

United State is biggest economy in the world and if America issuing regulation on bitcoin, I am believe that will followed most country in the world. But from what I am read, in some states in america, they allowed transaction using bitcoin and peoples can investing their money on cryptocurrency

In Us bitcoin is almost legal in some states but nt all states have the same legality but in USA bitcoin legality is neutral soon ico may be regulated in USA

I doubt the United States will ever legalise bitcoin as it poses a threat to the dollar as the global currency. However, if by some miracle that did happen, then yes other countries will follow America like they always do. It will be another way to trade with a large economy

I think no. These countries has their own way of utilizing the cryptocurrencies. They use it in order to boost their economy and not make scarce from it. Although I had heard that India is starting to ban bitcoin, I still do not believe those rumors because they have no valid evidences. Nevertheless, I am kinda selfish and I only care about the status of our country and not about the others.

America is a superpower country and of course many countries around the world are oriented towards America and not even a few assets of American companies located around the world. and of course if America really announces the legality of bitcoin, it will certainly affect other countries which of course will be followed by some countries that will follow the footsteps of the American state that legalize bitcoin.

If the USA legalizes bitcoin, there is a new way to go about electronic money, because the USA is the world leader in technology, so the USA accepts and legitimizes it all. the rest will follow

If USA Legalize bitcoin then Bitcoin's market will grow higher and the total market cap will bigger. Actually, this is a open question and if it will happen then every crypto holders or buyers will become rich because i think all coins will pump huge! But I am not sure about China but India can follow United States.

well india has banned bitcoin however its not impossible to revoke the banned about bitcoin, and my answer to your question is maybe yes maybe not.

I would not be oriented to America. Not all of them are good as they say. And China will never be at a loss, if not legalize means now is not the time.

Each and every country have different perspectives and they take economic decisions based on their country's geo political situations.But if US takes such a decision,then it might make other countries to reconsider their decision and it might also be an eye opener for other countries.But its hard for US to expect to legalize bitcoin.

It would be incredibly healthy for Bitcoin and community as whole but i doubt that it will happen.
Since as i ahve red they concluded that people end to pay less income taxes for crypto gains which are needed in the US.

Sorry, but India has not banned bitcoin yet!

I United State legalized Bitcoin and use in several aspect possible that the price will rise because of the demand followed by China, India and Korea the price will multiply and even Altcoins price will follow the price hike. Hope big Country made study about potential of Bitcoin and Blockhain.

#Support Vanig

Every country has taking care of thier currency looking up forward for thier economy growth and upgraded technologies. If USA legalized Bitcoin much better they choose the right currency to ruled over this economy as we all know USA is the most improving  country, other country has no fear to adopt Bitcoin also.

If and if the United States of America starts legalizing bitcoin, maybe other countrues will also do it. The USA is a powerful country, and considering the legalization of bitcoin would be a great advantage for us because some countries, especially those who banned bitcoin may reconsider bitcoin.

Maybe its great but since they allow even exchanges to operate now on there we can see that they are somewhat looking good at crypto, specially with latest news regarding regulation. However "rich" countries such as USA, China and others

I do think that other countries will be influenced by united states if they legalize bitcoin. Also this will attract much more blockchain business in America as most of the people go there in search of secure jobs and better lives and blockchain is also a pretty huge industry.