I'm not sure that Russia belongs on the list. Like China, they have flip-flopped on cryptocurrencies for years. The Prosecutor General actually said in 2014 that using Bitcoin was illegal, because it functioned as a "money substitute." This stance was never enforced and indeed seems to evolved into a more progressive stance. However, they have continued to block access to cryptocurrency sites/exchanges, and released a new list of banned domains just a couple months ago.
The government has also made conflicting statements (and there are conflicting rumors). On one hand, the Finance Minister says it makes no sense to ban cryptocurrencies. On the other hand, there are rumors floating around about the "Crypto-Ruble" and that once it is launched, mining other cryptocurrencies will be considered illegal. I wouldn't include Russia simply because we have no idea what their regulations will end up looking like.
Japan, Norway, Sweden and Switzerland are definitely all taking progressives stances and are encouraging innovation and adoption.
I fully agree. Russia could not decide whether they would be really supportive of Bitcoin and the cryptocurrency movement in general or they would be following the ban path pioneered by China. Maybe by next year we can be able to know what can be its final decision. Right now, we are hoping that there can be a strong lobby from the many Russians who are now into the cryptocurrency market for the government to instead formulate regulations rather than an outright ban.
As far as the top supportive countries for Bitcoin, it should really be Japan at the top and we all know why. I think it is Japan that lead the way on how to work with Bitcoin and make things to the benefits of the country's economy. Other countries who are afraid that they can be gobbled up by Bitcoin should look at the model set up by Japan.
Right now, in Asia, we also have South Korea (though there is an ICO ban in there), Taiwan, Thailand, the Philippines and maybe also Malaysia, Cambodia and Vietnam as countries that can soon be loving Bitcoin. I am also excited of what the continent of Africa can be able to contribute for the progress of Bitcoin (it can be a good medium of exchange in places where conflicts are existing).
Interesting insights! If i am keen to learn more about Japan's model, as well as other countries you mentioned - South Korea, Taiwan, Thailand, Php, Malaysia, Cambodia, Vietnam, how would you suggest I learn more about them?
Re: Africa, agree, which countries would you bet on, that will become the earlier hotspots there?
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