map shows which countries are friendly to Bitcoin

[CryptoCurrencyInc.com]

map shows which countries are friendly to Bitcoin

As public interest in Bitcoin rises, it can sometimes be hard to figure out exactly what local laws apply. Even in the United States, the regulatory structures around Bitcoin are still a matter of debate. But a recently launched Web site, BitLegal, makes it a little easier to navigate.

The site features an interactive map that uses color sorting to categorizing the legal and regulatory situation of Bitcoin -- and provides specific information about basic rights in over three dozen nations, "including every jurisdiction in which a regulatory body has issued guidance on Bitcoin or virtual currencies."

http://www.washingtonpost.com/blogs/the-switch/wp/2014/01/27/this-map-shows-which-countries-are-friendly-to-bitcoin/

[hilariousandco]

http://www.washingtonpost.com/blogs/the-switch/wp/2014/01/27/this-map-shows-which-countries-are-friendly-to-bitcoin/

Africa needs to get onboard. A currency like Bitcoin could thrive and be very valuable to a lot of people there.

[JohnsonRobinson]

It's interesting that, three of the four BRIC nations (Brazil, India, China, Russia), seen as the key emerging economies, are Bitcoin-Hostile...at least according to this map.

Brazil being the one of the four that is Bitcoin-Permissive.

Any thoughts on this?

[qwk]

It's interesting that, three of the four BRIC nations (Brazil, India, China, Russia), seen as the key emerging economies, are Bitcoin-Hostile...at least according to this map.

Brazil being the one of the four that is Bitcoin-Permissive.

Any thoughts on this?

Those countries have more to fear from exodus of capital than they could expect to gain from e.g. new high-tech companies (which will probably be established elsewhere anyway).

[ArticMine]

It's interesting that, three of the four BRIC nations (Brazil, India, China, Russia), seen as the key emerging economies, are Bitcoin-Hostile...at least according to this map.

Brazil being the one of the four that is Bitcoin-Permissive.

Any thoughts on this?

Those countries have more to fear from exodus of capital than they could expect to gain from e.g. new high-tech companies (which will probably be established elsewhere anyway).

Countries that have exchange controls are far more likely to be hostile to Bitcoin. The stricter the exchange controls the more hostile the country is likely to be. The best example of this is Iceland http://bitlegal.io/nation/IS.php

Edit: Brazil does not have exchange controls.

As a general guideline, the RMCCI allows legal entities and individuals to purchase and sell foreign currency and perform international transfers in Brazilian Reais, regardless the nature of the operation, with no restriction with respect to the amount involved therein.

http://www.deloitte.dbbrazil.com.br/show.aspx?idCanal=JHbAuQG9bBPQgRB4b/RKqA==

[MakeBelieve]

Most countries are for Bitcoin there are only a few countries which are against the concept and the idea of Bitcoin.

[countryfree]

It's difficult to define how a country is friendly or not towards BTC.
In some countries, the central bank may be against it, but they may be thousands of happy bitcoiners living peacefully.

[erre]

Countries that have exchange controls are far more likely to be hostile to Bitcoin. The stricter the exchange controls the more hostile the country is likely to be. The best example of this is Iceland http://bitlegal.io/nation/IS.php

That's why i think bitcoin is probably going to be even more appreciated in the hostile countries

[BitchicksHusband]

Should Russia be red now?

And why is Iceland red?  Did I miss something?

[erre]

http://bitlegal.net/nation/IS.php

[Frost000]

That's why i think bitcoin is probably going to be even more appreciated in the hostile countries

It'd be appreciated by those who don't have a hand in the country's development (either politically or as business owners, etc). Private citizens anywhere in the world can stand to appreciate BTC, even though it's made to look bad and evil in some countries.

[BitchicksHusband]

http://bitlegal.net/nation/IS.php

I didn't realize that they have a rundown for each country like that.  Cool, thanks.

[nobbynobbynoob]

Bear in mind that central banks can say what they like about bitcoin but central banks don't directly pass laws. Governments/legislatures do. So a central bank à la Thailand saying that bitcoin is not regulated by them and thus not specifically legalised, does not make bitcoin illegal in that country.

I can't really speak for Iceland but for the fact that exchange controls don't apply to bitcoin right? (How could they?) The Icelandic government wants to stop or at least stem the flow of ISK/fiat money out of the country. When someone in Iceland accepts bitcoin, or sells it to someone else, that doesn't cause any ISK or other fiat currency to leave Iceland.

[erre]

Bear in mind that central banks can say what they like about bitcoin but central banks don't directly pass laws. Governments/legislatures do.

You're right: they don't do it directly, but indirectly... unfortunatly, the outcoume is almost the same, usually there's just some delay before governments approves bank's laws

[chaolang]

2nd and 3rd lv country are welcome to bitcoin

[JohnsonRobinson]

Correction, those BRIC countries I had mentioned are Bitcoin-Hostile, are actually only Bitcoin-Contentious.

[Elwar]

The key to a country's hostility toward Bitcoin is how tied the central bank is tied to its government.

That has a lot to do with the fact that there was no competition.

[hilariousandco]

The key to a country's hostility toward Bitcoin is how tied the central bank is tied to its government.

So isn't that most of them? It'll be interesting to see how Governments react if Bitcoin really starts gaining mainstream traction. I'm sure they'll start doing what they can to restrict it if it truly does start to threaten the banks.

[Meuh6879]

the problem is not the country ... the problem is the bank that they blacklist "physical person" that use bitcoin (plateform that transmit SEPA identification).

[globalgaurav]

It'd be appreciated by those who don't have a hand in the country's development (either politically or as business owners, etc). Private citizens anywhere in the world can stand to appreciate BTC, even though it's made to look bad and evil in some countries.

The 'private citizen' who actively takes initiative to solve any or some of the challenges related to a country's development (either politically or as business owners, etc) could stand to gain handsomely, in more ways than one