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Question: What country do you think does crypto regulation best?
U.S. - 7 (77.8%)
Germany - 1 (11.1%)
Portugal - 0 (0%)
Singapore - 1 (11.1%)
Total Voters: 9

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Author Topic: Cryptocurrency Regulation  (Read 319 times)
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December 16, 2024, 02:31:08 PM
 #21

Crypto regulation is an interesting topic, and every country does it differently. Which country do you think does it best?
i think the question should be better framed in such a way that each individual can talk about the level of regulation they are facing at their country be it positively or negatively. chosen just a few country and creating a poll on it wouldn't do the expected justice to some salient point you can get from countries that are not listed in the pole.

generally, crypto regulation have largely depended on what the sitting government thinks of crypto particularly bitcoin. if a government is bullish on bitcoin and sees bitcoin from a positive standpoint, they tend to address it positively and you get to see some form of neutral regulation or something that is almost like a zero regulation by that country. if the reverse is the case and you are dealing with an Anti bitcoin government, you are going to see some very strict policies that are completely against bitcoin adoption like what we have seen in some part of the world. el Salvador and the united state will always take the lead because there regulation have become more positive as time progresses.

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December 16, 2024, 02:52:35 PM
 #22

Germany is pretty interesting
As the OP asked here, I think this refers to the tax benefit - there is no capital gains or income tax charged after hodling Bitcoin (or most cryptocurrencies) for more than a year.

In comparison to some other European countries like Spain, German crypto regulation seems also to be less "intrusive". People in Spain for example have to report a lot of their crypto activities to tax agencies, while in Germany it's only required if you surpass certain thresholds -- although early adopters surpass them easily ...

On the other hand, the Germany sold their Bitcoin, so they clearly aren’t betting on it.
That were confiscated Bitcoins and they can't do what they want with them without a dedicated law or decree.

I didn't vote in the poll because of the four countries listed, most have advantages and disadvantages. I had first looked at Singapore but its regulation seems to be quite similar to the US and Europe. The EU countries have imo gone too far with the AMLR (the MiCa is relatively okay in comparison) and thus I would not vote for Germany nor Portugal. So for me it's a tie between the US and Singapore, although El Salvador and perhaps also other Central/South American countries would probably be even better options.

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December 16, 2024, 03:33:56 PM
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 #23

I voted for USA, but I would have picked El Salvador over US if it was included in the poll just because they first adopted bitcoin as a legal tender and may likely put in place regulations to that effect.

One thing I want to remind us is that, no matter the kind of regulation a country puts in place, whether they claim they are in support of Bitcoin or not, they will never come to your aid if you lose your Bitcoins to scammers or get into trouble with your coins. Regulations are just there to still prove to you that they are still in control. while you think of countries with the most regulations, still bear it at the back of your mind that you are alone in this and it is your responsibility to protect yourself.

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December 16, 2024, 03:41:14 PM
 #24

Crypto regulation is an interesting topic, and every country does it differently. Which country do you think does it best?
I think the United States.

Although I am only concerned about my country and no official regulation yet about cryptocurrency, but it is not officially legalized as well, so it is risky according to my government, but I think not bringing regulations on any transaction is better for us for now even though they tried to make regulations on centralized exchanges that operates in the country, but for someone that knows Bitcoin as decentralized entity should have no worries about exchanges regulations placed by the country.

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December 16, 2024, 10:53:38 PM
Last edit: December 17, 2024, 02:19:29 AM by Franctoshi
 #25

Crypto regulation is an interesting topic, and every country does it differently. Which country do you think does it best?
Of course, the first country to make Bitcoin legal tender is El Salvador.

As for big countries like the US, with Trump possibly returning to office, there’s been talk of pro-Bitcoin regulations. That’s something we’ll need to wait and see if it materializes, as positive regulations in a major country could have a huge global impact.

Germany is pretty interesting
On the other hand, the Germany sold their Bitcoin, so they clearly aren’t betting on it.

Germany sells off ‘Saxon treasure’ of confiscated bitcoin
Currently my vote goes to the United states base on what we can see on ground and how the future would look like with the incoming president Donald Trump.

But El Salvador would have better suit in this list as they are more crypto friendly as they have legalize Bitcoin through their law.
Making Bitcoin a legal tender in their country gave everyone access to Bitcoin.

 
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December 17, 2024, 09:21:56 PM
 #26

El Salvador is a good example, but their relationship mostly relates to state strategy and state investment in Bitcoin. Regulation should mean the extent to which a country has adapted and made it easier for citizens to use cryptocurrencies.
Yes, of course, the use of crypto to make it easier for its citizens is the main adoption that needs to be done.
But El Salvador started with Bitcoin as its main goal, it became an amazing economic builder despite initially being pros and cons but still running today.

Even El Salvador will build a Bitcoin City that will all use Bitcoin, so this will be an extraordinary mass adoption.
A good opportunity is also of course for other cryptos and actually Bitcoin will be the opening of all crypto adoptions that will then be carried out.

 
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December 18, 2024, 05:12:20 PM
 #27

I voted in the poll, and I’m the first one to vote. My vote is for the US because they are likely the reason Bitcoin reached $100k during the bull run. Remember, they approved the ETF this year, which was a huge milestone. It brought institutional investors into the market, and now total ETF holdings have already exceeded 1 million Bitcoins.

Yes it can be true that the US is he best serving region or government  because most whales are comed from the US and moreover, the wedges of crypto currency especially bitcoin obtains its ability from users who're still the whales accumulators.
But what I can't back US here on is if they're actually the best crypto regulating region because there's no absolute data to confirm this fact because looking at it, countries like El Salvador has made the use of cryptocurrency to be more convenient to its masses and of course the government has also adopted the facilitation of crypto transactions which I'll then think that the El Salvador is the best if as much the use of bitcoins could be so versatile and utilizing to their community.
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December 18, 2024, 09:49:22 PM
 #28

Crypto regulation is an interesting topic, and every country does it differently. Which country do you think does it best?
OP, you would have atleast provided a brief overview of the regulatory policies of some countries to give us clue. Atleast, the ones on the poll. Not everyone has an idea of the cryptocurrency regulations in different countries. Those are extra efforts expected of a topic creator.
If I should pick, I will go with El Salvador where there are no restrictions using cryptocurrency, especially bitcoin. Bitcoin being a legal tender gives it all to them.
Apart from El Salvador, I'll go with my country Nigeria who hasn't enforced any harming restrictions yet. No tax or inconveniences yet but I am sure the government is trying and planning to implement some this new year.

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December 18, 2024, 09:51:39 PM
 #29

Crypto regulation is an interesting topic, and every country does it differently. Which country do you think does it best?
many country has restricted Bitcoin not to coexist in their country but some countries who have the knowledge of digital currency or cryptocurrency is the one who is trying a regulation of cryptocurrency but statistics has not proven they countries that regulate cryptocurrencies but what we all know is that many countries have not accepted Bitcoin as a legal tender but I know very well cryptocurrency is not being restricted in so many countries

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