Which country will be the first to legalize Bitcoin?

[dulce dd121990]

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.

Well that's great thing to hear, As I've heard lots of country already legalize the bitcoin and hopefully in my country bitcoin will be recognize and legalize soon.

[1715180990]

1715180990

[TravelMug]

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.

Well that's great thing to hear, As I've heard lots of country already legalize the bitcoin and hopefully in my country bitcoin will be recognize and legalize soon.

I think in Europe they are still 50/50 as far as bitcoin acceptance is concern. Some of them are noting bitcoin as for scam and Ponzi scheme. But there's also a lot who is bitcoin friendly and the air is very positive about it. While in other parts, some of the government is still undecided. In Asia though, bitcoin is very welcome except for China who we all know suddenly turns it back against bitcoin. So I don't know which country will follow the path of legalization after Japan or Australia, but I'm assuming that many countries are contemplating having a tighter regulation or a total ban itself. Let's wait and see how countries will react to bitcoin and cryptocurrencies.

[naidray]

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

Thanks a lot for sharing that link. This shows the stand of all countries worldwide and how they perceive bitcoin. From the look of things, very few countries have come out to declare bitcoin illegal, while some did not really give where they stand but still did not declare it illegal but for citizens to use bitcoin at their own risk.

From the development so far, I feel we are still on the right track and eventually most countries will end up succumbing to not having issues with bitcoin.

[futuret]

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.

Well that's great thing to hear, As I've heard lots of country already legalize the bitcoin and hopefully in my country bitcoin will be recognize and legalize soon.

Yes a lot of the countries are holding the bitcoin and the price of the bitcoin is increasing more and more. I like the bitcoin for the reason and the reason is the saving of the money I love the bitcoin for the increasing price and I love the income so I think being a part of the bitcoin I should try to promote the bitcoin and should struggle to make the bitcoin more popular and the legal currency.

[killerfrost]

I think that is Japanese. Because the origin of Bitcoin is in Japan. And they have applied a lot of Bitcoin payment methods to their services such as aviation, hotels, real estate, etc. Perhaps Japan will take the lead in legalizing Bitcoin. Nationally, that is necessary, it will set the example for large nations to follow

[2double0]

Japan will be the first (as under my knowledge, they have already started regulating and legalizing it, and India is following them too on this), Canada has started preparing a framework in which they will discuss the steps to regulate Bitcoins, Russia will be regulating it and so many other countries to follow.
All this for legalization and regulations? Do you really think there will be any successful future once it gets started being regulated by governments and/or their old banking systems? I am not scared but worried about the future of Bitcoins because once it gets "regulated", there won't be anything here called as "decentralized" anymore.

[PokerFace3]

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.

Even china is not declaring cryptocurrency in general as illegal except for some ICO activities that has generated a whole lot of scam which to me is against their monetary policy, hence, the ban. However, China has come out to say they cannot ban bitcoin and that apparently gives users to make use of it with only approved exchanges.

However, if we look far back as 2013 like you said, china or south korea may actually have been the first to allow the use of bitcoin even though they forbade banks from involving in such transactions.

[jostorres]

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 

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.

Apparently, countries can only allow the use of bitcoin as a secondary currency as long as no one is using it for fraudulent means.
Also, China has been on the forefront of bitcoin usage right from the onset except for some huge policies and strict laws that can make them wake up one morning to just either stop exchanges or sort. The truth is they have never banned P2P exchange of bitcoin right from 2013.

[Roman4yk88]

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 

I do not think that this can happen. While the state does not establish full control over this currency and until it does not see the benefits from it, nothing happens. But still if it happens, hope it will be China or Japan.

[jatin729]

There are few countries which are actually legalize bitcoin for eg. japan, Australia
Last week one more name added to the list Ukraine has also made new rules and regulation for existing exchanges.
And one thing more In India bitcoin neither Illegal nor legal" I think next county would be India.

[mstfprcn]

the main expectation is china but i thing the first country will be estoinia, they are very familiar the new technologies, and also they have e-nationality programme as well

[TastyChillySauce00]

I think that is Japanese. Because the origin of Bitcoin is in Japan. And they have applied a lot of Bitcoin payment methods to their services such as aviation, hotels, real estate, etc. Perhaps Japan will take the lead in legalizing Bitcoin. Nationally, that is necessary, it will set the example for large nations to follow

There's no reliable sources of fact that bitcoin is originated from Japan, satoshi nakamoto itself just a persona of crypto currency creators, whether there's an actual Satoshi nakamoto exists or not noone of us know.
One important thing is that, Japan accepting bitcoin as legal tender and officially endorse bitcoin mainly not because it's originated from japan but there's other factors that trigger the act of japan to accept bitcoin and recognise it as a legal tender.

[denny27]

As far as I know indeed there are currently already some countries that have approved bitcoin as a legalized currency like in America, China, England, Japan .. but I don't really know it yet which country which the first to legalized bitcoin as currency, many said the first it's Japan, is that right? I thought it's America.. Anyway I'm sure, as time passes will be more countries that will legalize bitcoin as the approved currency.

[fullhdpixel]

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.

Zimbabweans are really making use of bitcoin to support themselves by using it more as a safe haven looking at the fact on how their currency has failed them over the years. Even the government is gradually looking into how they can use it to benefit their economy and probably have it better than they always have. The hyperinflation in this countries have really driven the desire for bitcoin high and it wont be far before it becomes even more of use than the normal fiat for them.

Zimbabwe as well as Singapore and japan are also on the list and chances of japan are more bright because japan is at top on the list of bitcoin user and it doesn’t matter which country will accept it the this thing matter that the country that will accept it will lead word in field of development and economy and bitcoin will give that region strength to lead from the front.

[Faroxx]

Wait, does Japan not legalized bitcoin? As far as I know Japan has officially recognized BTC means of payment.

[Hutalar]

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 

well according to quora, germany was first ever country that legalize and accepted bitcoin as a currency and unfortunately it isn't the china but they were the largest investor and holder of bitcoins and also the first ever manufacture mining equipments u  the world but the most notable countries who were accepted bitcoin is Japan because as a one of most innovative countries in the world

You are right mate! A lot of the countries are accepting the bitcoin and they are trying to make the bitcoin. The price of the bitcoin is increasing more and more and the value of the bitcoin is increasing so I think it is very good to invest the money in the bitcoin and to hold the bitcoin for the sake of the bright future because having the money is the best thing but having the bitcoin is the amazing thing.

Now a days countries are willing to accept bitcoin as a payment method because they know that it can make there economy better. Because if they accept bitcoin as a payment method then many businesses will become a good and profitable because we know that bitcoin price increasing so that's the step where countries are looking forward to accept bitcoin.

Bitcoin is the most profitable coin nowadays and it leads to the development and this is the main reason why people and regions are more trending toward it because those who has accepted it before had better financial and economic condition and that’s the reason many regions are wanting to because they know that this will lead them to progress by leaps and bounds,

[Alphagog]

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 

well according to quora, germany was first ever country that legalize and accepted bitcoin as a currency and unfortunately it isn't the china but they were the largest investor and holder of bitcoins and also the first ever manufacture mining equipments u  the world but the most notable countries who were accepted bitcoin is Japan because as a one of most innovative countries in the world

You are right mate! A lot of the countries are accepting the bitcoin and they are trying to make the bitcoin. The price of the bitcoin is increasing more and more and the value of the bitcoin is increasing so I think it is very good to invest the money in the bitcoin and to hold the bitcoin for the sake of the bright future because having the money is the best thing but having the bitcoin is the amazing thing.

Now a days countries are willing to accept bitcoin as a payment method because they know that it can make there economy better. Because if they accept bitcoin as a payment method then many businesses will become a good and profitable because we know that bitcoin price increasing so that's the step where countries are looking forward to accept bitcoin.

One of the reasons also why most establishments nowadays and most probably businesses accepts bitcoin as their method of payment, there is no longer need to elaborate the benefits of bitcoin as well. Some prefer it as a day to day currency or a payment, but as for me i would prefer to use it as my investment. As what i can observe lots of countries are already planning to adapt bitcoin to their country and make it their official secondary currency.

Bitcoin has revolutionized the world now people are more talking about it as compared to cash and that’s the main reason that it can be accessed and can be paid to everyone in any area but cash is confined and there will be time in future when everything will be confined to bitcoin because cash will be just a paper in that time so prepare yourself for that time.

[sirslayer]

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.

Well that's great thing to hear, As I've heard lots of country already legalize the bitcoin and hopefully in my country bitcoin will be recognize and legalize soon.

I think in Europe they are still 50/50 as far as bitcoin acceptance is concern. Some of them are noting bitcoin as for scam and Ponzi scheme. But there's also a lot who is bitcoin friendly and the air is very positive about it. While in other parts, some of the government is still undecided. In Asia though, bitcoin is very welcome except for China who we all know suddenly turns it back against bitcoin. So I don't know which country will follow the path of legalization after Japan or Australia, but I'm assuming that many countries are contemplating having a tighter regulation or a total ban itself. Let's wait and see how countries will react to bitcoin and cryptocurrencies.

Well I think Japan can be the first one to make bitcoin legalized although bitcoin is accepted by some develop countries and still there are a lot of countries that they are going to accept bitcoin but I think they want to give some extra time to bitcoin and I am sure that these countries will legalized bitcoin in their countries because its playing a big role in their economy.

[YellowRiver]

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.

Well that's great thing to hear, As I've heard lots of country already legalize the bitcoin and hopefully in my country bitcoin will be recognize and legalize soon.

Yes I agree with you bitcoin in legal in some countries already and some countries like japan there are giving bitcoin to their staff as a salary so I think the rest of countries will also accept bitcoin and will make it legalized soon because bitcoin is playing a big role in economy of any country specially in third world countries its playing a big role.

[hildacitra]

what do you mean by that questions? there are 10 top countries which adopt bitcoin as the currency. they are USA, UK, Canada, Belgium, Australia, etc. even Australia calls bitcoin as a non-harmful mean of transaction. since the creator of this bitcoin is Satoshi Nakamoto who is claimed from Japan, I think Japan is the first country which legalize bitcoin.