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Author Topic: Which country will be the first to legalize Bitcoin?  (Read 3928 times)
luxcoin
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October 15, 2017, 10:30:59 AM
 #1

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China  Wink

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October 15, 2017, 10:37:16 AM
 #2

I think that Venezuela might use bitcoin as a national currency (they already use it widely).Thats not a legalization but it is authorized by people.

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October 15, 2017, 10:47:48 AM
 #3

Bitcoin is already legal in many countries, see Legality of bitcoin by country or territory for a list per country.

Some countries officially recognize Bitcoin:
Quote
Japan officially recognizes bitcoin and digital currencies as a "means of payment that is not a legal currency"
Others declared it "not illegal":
Quote
As of November 2016 declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia
(quotes from Wiki)

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October 15, 2017, 10:55:37 AM
 #4

I don't think that any country can actually reject Bitcoin. Well Bitcoin might not be recognised as an official currency in any country because people will not want to drop their currency for Bitcoin.

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October 15, 2017, 11:04:57 AM
 #5

Bitcoin and other cryptocurrencies are already legal in a lot of countries. The fact that businesses can accept them as a form of payment and that any gains have to be reported and then paid tax on (at least in the UK) shows that countries have legalised it. Other than that and the existing forms of regulation, I'd think it has already been pretty much legalised.
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October 15, 2017, 11:21:09 AM
 #6

Bitcoin and other cryptocurrencies are already legal in a lot of countries. The fact that businesses can accept them as a form of payment and that any gains have to be reported and then paid tax on (at least in the UK) shows that countries have legalised it. Other than that and the existing forms of regulation, I'd think it has already been pretty much legalised.
In Europe everywhere is the partial legalization. In Austria there is even a Bank which opens an account in bitcoins. In Switzerland you can pay utility bills using bitcoin. There are bitcoin ATMs. Officially, bitcoin is not recognized currency anywhere. I have not heard that any company officially paid wages in bitcoins.
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October 15, 2017, 11:21:42 AM
 #7

Keep in mind that bitcoins are created and principally used by its community so it's caracteristics and functions don't depend on any governemental decision or international treaty. Face to conservative financial world order based on centralisation and birocracy, early talk about bitcoin as legal system of payment but it's not also considered as "illegal" till start affecting its environment of circulation.

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October 15, 2017, 11:35:25 AM
 #8

Bitcoin and other cryptocurrencies are already legal in a lot of countries. The fact that businesses can accept them as a form of payment and that any gains have to be reported and then paid tax on (at least in the UK) shows that countries have legalised it. Other than that and the existing forms of regulation, I'd think it has already been pretty much legalised.
In Europe everywhere is the partial legalization. In Austria there is even a Bank which opens an account in bitcoins. In Switzerland you can pay utility bills using bitcoin. There are bitcoin ATMs. Officially, bitcoin is not recognized currency anywhere. I have not heard that any company officially paid wages in bitcoins.

I don't know of any companies (by company I mean MNC) that does but I've read on this forum and elsewhere that some employees have asked to be paid in BTC.
What I meant was that businesses (including large companies) have started accepting BTC as payment for their goods or services. I don't know what they do with that BTC (if they keep it or convert it) but they accept it as a payment method nonetheless.
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October 15, 2017, 11:46:39 AM
 #9

what do you mean by legalizing? Bitcoin is already legal in most countries.
Some accept as a legal payment method in markets. You can see in most countries in all continents.
Some accept as a wealth of storage. Chinese regulations can also be considered as legalization.
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October 15, 2017, 11:49:42 AM
 #10

RPC will have a huge impact on BTC.
Just wait after 25 oct 2017.
There is also the so called "airdrop" in 25.
We'll see how this rolls out.
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October 15, 2017, 12:38:01 PM
 #11

i think the rich country like USA, RUSSIA, CHINA and japan. they are currently one of the country who has advanced technology. and maybe theye are the one who run bitcoin in their economy. they can run their economy using bitcoin.. unlike Philippines who is new in bitcoin.

i bet CHINA and USA.

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October 15, 2017, 01:15:44 PM
 #12

What do you mean? Many countries are already legalized bitcoin or even the other cryptocurrencies(altcoin). Make your own research mate https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Japan, USA, other African countries are now declared cryptocurrency as legal. In fact they are the biggest in market of cryptocurrencies. Anyway, it can be change. If you look at China. Cryptocurrency legality is questionable because anytime they can declare them as illegal. Recently, they ban ICO crowdfunding. Next is the exchanges there. They stopped all trading activities there by stopping all exchanges there to operate. There's a possibility that they will ban cryptocurrency there.

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October 15, 2017, 01:21:31 PM
 #13

As far as i know china is the first country which bitcoin is declare as legal digital currency and next would be in usa and so on some country start to adopt bitcoin also but there are also countries banned bitcoin because their government are against in decentralized currency. And here in my country even it is not yet full adopted we are free to used bitcoin.
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October 15, 2017, 01:53:06 PM
 #14

Countries with economical unstability might be the first ones. Maybe Venezuela, or even Zimbabwe may adopt BTC, because they have not many to lose because the state of their financial system is not very good.  But don't know if their create legislation about BTC anytime soon! Is too volatile still, and then  it can bring losses, and the adpoters of it will have to respond to it, causing bad climate in those countries.
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October 15, 2017, 02:08:04 PM
 #15

Bitcoin is not legal all over the world. There are many country where bitcoin is illegal. I heard about Venezuela where it is legal. May be there are other such kind of country where government accept this valuable currency.














 

 

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October 15, 2017, 02:14:41 PM
 #16

If china authorizes the exchanges after issuing licenses, then it plainly mean that china legalizes bitcoin.
After exchange are provided licenses, china government would have no reasons thereafter to make them down again.
By granting license, it clearly appears that china will be the first country to legalize bitcoin.

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October 15, 2017, 02:22:28 PM
 #17

I think that Venezuela might use bitcoin as a national currency (they already use it widely).Thats not a legalization but it is authorized by people.

Bitcoin as a national currency? Maybe you just worded it wrong, but I doubt this. Do you have a source?
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October 15, 2017, 02:34:52 PM
 #18

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China  Wink

China? You don't know Chian at all, I'd rather pick South Korea or Japan. Also, bitcoin is already legal almost everywhere but I don't think there will ever be a coutnry to implement it as it's main currency.
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October 15, 2017, 02:53:08 PM
 #19

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China  Wink
Correct me if im wrong i think bitcoin is not illegal  it has been discussed in so many threads and articles that hicoin is no illegal though it is decebtralized but its not enough to be branded as illegal it is only a digital currency that has no limits of values it is only like a bank that is digital and can make currency higher than normal currency well some country are agaisnt but almost all supports or ignores it on bitcoin . Well what can we do yeah just A big big ^NOTHING^

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nskendrovic
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October 15, 2017, 02:53:13 PM
 #20

Well there are some countries that actually already are Bitcoin friendly like Australia, Japan, etc. The problem is if they try and tax people for their money. Then there won't be a reason for people to declare.

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