US or China: Who do you think will legalize bitcoin first?

[Sherwood_Archer]

Just curious which one would be more accepting of bitcoin or any cryptocurrency for that matter. China nowadays seem to headline a lot about artificial intelligence and other technology. They are also promoting a cashless society. So I am betting on China.
Feel free to contradict. This is just me overthinking. Maybe, neither would even legalize it in the future. Or perhaps countries would create their own crypto?

[drmilind2004]

Neither of them will do so anytime soon, nor  .  . . . ever.

The notion of Bitcoin stands in fundamental contradistinction to the idea of a centralised nation-state. So, as long as that entity exists, there's no space in it's Venn diagram for any non-state virtual currency.

[Marcel666]

Correct me if am wrong, but bitcoin is. OT illegal UK the US, and individuals have to go through a registration process and be licensed to own it and see also taxed on purchases.

China on the other hand are looking to localize digital assets. And grow their own cryptocurrency.

[Cashi]

Well, right now the ownership of Bitcoin is not 'illegal' in both countries, US and China.

If you mean the full implemention similar to the national currency, I think it's very unlikely in both countries in the near future. In the US Bitcoin is already very popular, but I think in the government are too many sockpuppets of wallstreet and most of them would lose a part of their power if Bitcoin gets stronger. In addition, the US would do nothing that would endanger the dollar's influence in international competition and that would be endangered with Bitcoin. So it will be very important for the USA to keep the dollar as number one. Also big companies like Visa an Mastercard are influencing politicans to stay away from Bitcoin (and maybe pay them) because Bitcoin is their direkt competitor in digital payment.
Many politicians are against Bitcoin, not everyone is positive like John McAfee.  

And it is not much better in China. The communist government has already concluded many measures to limit Bitcoin, such as limiting mining and discouraging people of buying bitcoin. The reason, in my opinion, is that the government is in danger of losing parts of its power in the country. It is still a very communist country, not a liberal.

But I'm sure the people will see the benefits of Bitcoin, no matter which measures the governments takes to prevent it.

[drgomez89]

I think It would be china because usa right now id very protective with their economy And the arent evolving anymore the the reality of the current market trendings but the first lf allá governments Who Will adopt them first would be the poor ones because they doesnt hace todo muchas yo loose if things  go wrong And they hace a lot to sin if things go Well.. i dont know if im explaing myself correctly

[sidebyside]

I think China will soon be legalizing bitcoin in the future. I realize that there are many bitcoin investors coming from China although this country does not support electronic money. Many factories to exploit bitcoin are built here. From here, I see that the Chinese government may soon be legalizing bitcoin.

[Blackhammer321]

I think It would be china because usa right now id very protective with their economy And the arent evolving anymore the the reality of the current market trendings but the first lf allá governments Who Will adopt them first would be the poor ones because they doesnt hace todo muchas yo loose if things  go wrong And they hace a lot to sin if things go Well.. i dont know if im explaing myself correctly

It has a point. Bitcoin is made for Asian first and probably the first legalization will come to asia. Another factor is stated above in which China needs bitcoin that is why they will going to legalized it. A very good thing for China. America allows the use of it but not really. Thay just let their citizen to do so.

[pixie85]

I don't understand why so many of you think that China will legalize it. China is the county with a highly censored Internet and a country that has fought Bitcoin since 2013. They  banned banks from doing business with cryptocurrency exchanges, they forced miners out of the country. Do you really believe they'll suddenly change their mind?

[dreamhouse]

Of course US will do first. China just have too many problems with bitcoin, high ranking officers are very corrupted there, they are eager to hide their fortune they steal from the country and bitcoin is the best vehicle for it. If legalized, it will become the paradise of corruption.

[mahibul49]

i think USA will do legalize bitcoin 1st and china is not good supporter for bitcoin.another thing china is not favourable country for bitcoin so no chance to legalize bitcoin in china.

[ghermghuda]

In my opinion, I think that's not a possibility in anytime soon, especially with China. China has expressed her complete unsupport for Bitcoin and more worse crypto. Also, with USA, they'll debate over this for years and they'll never accept, not with the old head economist hating Bitcoin. So we'll be hanging around and trading oyr precious for years and i love that lol..

[NeuroticFish]

Just curious which one would be more accepting of bitcoin or any cryptocurrency for that matter. China nowadays seem to headline a lot about artificial intelligence and other technology. They are also promoting a cashless society. So I am betting on China.

I tend to believe US will be first and I'll tell why:
* if you read more you'll see that China's "cashless society" thing is closer to a lie than to reality.
* actually the first can be considered Germany, I think. Malta is next? I am not sure if I am accurate here.
* because of Germany, France, UK and then US may follow
* although 180 turns are not unexpected from China, bitcoin exchanges are still not allowed there, right?

[M4NDELL]

In my opinion, American society is more prepared for the official adoption of Bitcoin than China. But in fact, everything can change completely depending on which country will have enough political will to adopt legislation regarding the use of cryptocurrencies.

[SventraPapere]

This is a very interesting question. The conflict between these giants is growing every day. I heard that bitcoin was prohibited in China, its mining, and with it all cryptography. But in America, Bitcoin was already taxed. And they are trying to master the technology. By this I put on America)))

[feehannah]

I think US will be the first to legalize cryptocurrency specially bitcoin because they are already aware about it and planning to do so. US are now asking permit to operate for every cryptocurrency related business. China is a big county in terms of economic and commercialism but they are not so fast to adopt new technology related in digital currency.

[jrrsparkles]

Just curious which one would be more accepting of bitcoin or any cryptocurrency for that matter. China nowadays seem to headline a lot about artificial intelligence and other technology. They are also promoting a cashless society. So I am betting on China.
Feel free to contradict. This is just me overthinking. Maybe, neither would even legalize it in the future. Or perhaps countries would create their own crypto?

It won't be China because that is a communist country where they never want the decentralization in anything then how they will allow decentralized bitcoin into their system but they maybe better in new technologies so they will create new currency for themselves or they will just go with NEO.

[evichi]

A preview of past events as well as personal opinion, China is the most likely to legalize bitcoin first. Considering the China people enthusiasm towards cryptocurrency, China have all it takes to legalize Bitcoin first. Despite China government/bank ban on ICOs, they are the most likely. In the near future, if they are able to sort things out properly, it could be legalized. I think China have more cryptocurrency platforms than US at least prior to government stringent policy.

[Baofeng]

I think China will soon be legalizing bitcoin in the future. I realize that there are many bitcoin investors coming from China although this country does not support electronic money. Many factories to exploit bitcoin are built here. From here, I see that the Chinese government may soon be legalizing bitcoin.

China is heavily cracking down on crypto's since last year. China's PBoC doesn't want crypto to take off because of its non-regulated and decentralization. So I have no doubt that legalization is not on the horizon. As far as the US though, they're very careful on issuing regulations as they also afraid of bitcoins pseudo-anonymity. Personally though I think US will at least regulate in the future as we have seen positive statement from SEC Chairman Jay Clayton.

[YuginKadoya]

Well many in here are saying that the U.S. will surely be first in regulating bitcoin and other cryptocurrencies, But I really think neither of the two will be regulating any crypto, for now, We can not tell if what's ahead in the future and both have a qualification in doing the same thing, What if both countries will regulated bitcoin at the same time? or another country will be regulated first, There should be Russia in the option above, We can sure learn more about Japan and its adoption for cryptocurrency regulation,

But you can go to this website to see on the list who's country and territory to legalized cryptocurrency first https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

[waitforme]

America will be the first country to accept Bitcoin because this is a very developed country and Donald Trump is a smart guy, so he will choose the best things to help him achieve his desire. China is a difficult country to open up to investors, and in particular, China has many bans on Bitcoin and Crypto.