Regulation of Cryptocurrency Around the World

[Kimonoe]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

indeed, for each transaction it is hard for bitcoiners. when we transact, we don't necessarily get profit, so that the government seems to burden the people wisely. I think maybe every withdrawal to the local currency will be more realistic, tax

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[jambul_kribo]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

indeed, for each transaction it is hard for bitcoiners. when we transact, we don't necessarily get profit, so that the government seems to burden the people wisely. I think maybe every withdrawal to the local currency will be more realistic, tax

in my opinion that is wrong scheme to attract taxes from bitcoin.i could not imagine how much taxes will attract to taxes subjects when they use bitcoin on each transaction.i think this policy will make bitcoin user drop , they prefer to use conventional payment that have no taxes when used.

[sana54210]

There are lots of countries that doesn't have any law that governs cryptocurrency and most of these countries are in the African continent. But one thing I never knew that countries where Bitcoin is legal is as much as this. The green on this map/list is too much, which means that there are lots of countries where Bitcoin is considered legal.

And that means that people are free to make use of it as they would use a real currency. As for places where' it is illegal anyone that makes use of it attracts punishment. Countries that doesn't have laws for cryptocurrency seems like it is not that popular there. So their government is not thinking of setting any laws for it.

At one point, they also see it as threat to them until they fully understood the benefit of cryptocurrency to their economy, when bitcoin first became popular in one of the largest country in Africa(Nigeria), I learnt that their Central Bank Raised the issue in senate to ban the use of it , but since they couldn’t, they sponsored lots of propaganda campaigns against it, compared it to Ponzi scheme and many more, despite this, bitcoin as usual, reacted positively to the FUD news by even gaining more attention of their citizens and I learnt that right now, their government already accepted it and pays less attention to its usage.

[ancafe]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

in fact, regulations could be issued, only now that the use of bitcoin is not evenly distributed throughout the world, and each country has its own rules regarding that. well, for now, it's still difficult, although some countries do support it, but, we don't know what regulations will be taken in the future.

[suzanne5223]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

in fact, regulations could be issued, only now that the use of bitcoin is not evenly distributed throughout the world, and each country has its own rules regarding that. well, for now, it's still difficult, although some countries do support it, but, we don't know what regulations will be taken in the future.

To me regulations shouldn't be an issued for us cause what I consider as issue is people abusing the system but if we want the crypto currencies to be recognize and endorse by the government i.e if we want the world to see crypto as fiat currency. However, the issues of regulation might change in the future the news said about some banks planning to create their own crypto come to past.

[syamster]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

in fact, regulations could be issued, only now that the use of bitcoin is not evenly distributed throughout the world, and each country has its own rules regarding that. well, for now, it's still difficult, although some countries do support it, but, we don't know what regulations will be taken in the future.

To me regulations shouldn't be an issued for us cause what I consider as issue is people abusing the system but if we want the crypto currencies to be recognize and endorse by the government i.e if we want the world to see crypto as fiat currency. However, the issues of regulation might change in the future the news said about some banks planning to create their own crypto come to past.

Well you are right government support will bring good changes in value of bitcoin but it will reduce public profit as when government will involve it will put tax and other things on the use, creating more crypto currency by banking or companies it not possible so they will have to accept the present crypto currency which is going to put huge price gain in system.

[ene1980]

I was not aware of all the countries that banned bitcoin, but it looks like religion plays a major role in those countries to ban bitcoin outright as majority of them are Muslim majority countries like Saudi Arabia, Pakistan, Bangladesh and Qatar and i am not sure whether religious belief has anything to do with the outright ban, majority of the countries does not have any regulation.

[South Park]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

This is another path that governments will try to take to kill bitcoin, they will not make it illegal because that will rise questions about the kind of government they want to be but they will try to create so many regulations that it will be impossible for the average person to comply, but that is the weak point in their plan, they believe that this will make people abandon bitcoin but what will really happen is that the people will simply ignore their ridiculous regulations.

[Pamadar]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

This is another path that governments will try to take to kill bitcoin, they will not make it illegal because that will rise questions about the kind of government they want to be but they will try to create so many regulations that it will be impossible for the average person to comply, but that is the weak point in their plan, they believe that this will make people abandon bitcoin but what will really happen is that the people will simply ignore their ridiculous regulations.

Regulations indeed will be the killing side if government will try to control and regulates this industry, anonymity is why investors and traders are here, they wanted to be away from the government controls, but it's also a challenge as bitcoin adoptions will be held from each side of the world then government needs to adopt and allow the system to continue from how it was been created.

[MakeMoneyBtc]

In my country bitcoin is legal and people can use it freely for whatever they want as long as it is not something illegal. The only problem I have with my government is that they add unnecessary taxes for trading bitcoin. They ask you for taxes whenever you exchange bitcoin to fiat even if you did not make any profit at all during all you time trading.

[Xampeuu]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

This is another path that governments will try to take to kill bitcoin, they will not make it illegal because that will rise questions about the kind of government they want to be but they will try to create so many regulations that it will be impossible for the average person to comply, but that is the weak point in their plan, they believe that this will make people abandon bitcoin but what will really happen is that the people will simply ignore their ridiculous regulations.

Regulations indeed will be the killing side if government will try to control and regulates this industry, anonymity is why investors and traders are here, they wanted to be away from the government controls, but it's also a challenge as bitcoin adoptions will be held from each side of the world then government needs to adopt and allow the system to continue from how it was been created.

of course what is expected is that the government regulates it but the decentralization system continues. because basically this system is a new breakthrough in the world of technology. I hope there are policies that bridge that problem

[syamster]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

This is another path that governments will try to take to kill bitcoin, they will not make it illegal because that will rise questions about the kind of government they want to be but they will try to create so many regulations that it will be impossible for the average person to comply, but that is the weak point in their plan, they believe that this will make people abandon bitcoin but what will really happen is that the people will simply ignore their ridiculous regulations.

Regulations indeed will be the killing side if government will try to control and regulates this industry, anonymity is why investors and traders are here, they wanted to be away from the government controls, but it's also a challenge as bitcoin adoptions will be held from each side of the world then government needs to adopt and allow the system to continue from how it was been created.

of course what is expected is that the government regulates it but the decentralization system continues. because basically this system is a new breakthrough in the world of technology. I hope there are policies that bridge that problem

As it is not yet regulated but as there are some chances of crypto regulation we are going to see good government support for crypto currency, some countries have decided to make crypto currency as basic currency but some are still waiting for any action from government, I think in coming future crypto currency will be the only currency, but decentralization nature of crypto currency comes across.

[akram143]

Regulation also important but it will not needed in all the place and all the situation so how it can be make that changes and regulated will decides it will be positive or negative in most of the time it will always positive forever.

[bonker]

Simply we cannot see it is not useful and there will be lots of good and useful ways when the cryptocurrency regulation properly going on that's why it will be implemented by the people who are in good position to make everyone's profit to be increased and I agree everyone will do the the job properly then the field is more useful for everyone.

[Sithara007]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

It is illogical and I guess this policy was drawn up by some stupid people who don't even know the basics of crypto-currency. Unlike the case with bank accounts or credit cards, there is nothing to link any of the Bitcoin wallets with your identity. The authorities will never be able to prove that a particular Bitcoin wallet was controlled by you, unless there is a fiat linkage somewhere. I don't think that anyone in Brazil is going to follow this stupid law. And no need to worry about it.... the government is not going to imprison hundreds of thousands of people just for using crypto.

[freedomgo]

Simply we cannot see it is not useful and there will be lots of good and useful ways when the cryptocurrency regulation properly going on that's why it will be implemented by the people who are in good position to make everyone's profit to be increased and I agree everyone will do the the job properly then the field is more useful for everyone.

Don't know about profit yet, regulation might turn the current market norms into a different condition, but I'm sure it would drive an increase of adoption in the market since businesses will be confident to operate and people will be secured here in the space, for now, it's too risky to be here as an investor.

[breathlessz]

Simply we cannot see it is not useful and there will be lots of good and useful ways when the cryptocurrency regulation properly going on that's why it will be implemented by the people who are in good position to make everyone's profit to be increased and I agree everyone will do the the job properly then the field is more useful for everyone.

Don't know about profit yet, regulation might turn the current market norms into a different condition, but I'm sure it would drive an increase of adoption in the market since businesses will be confident to operate and people will be secured here in the space, for now, it's too risky to be here as an investor.

because there is no legal certainty, of course the risk will be greater if we invest in it. and regulation will certainly bring many investors into the market. but this is not easy, because each country has different problems

[ethereumhunter]

The regulation will be different between one country to another country, and not all country has already accepted cryptocurrency so far. But if the progress of the cryptocurrency to help people to get a better life, then I think the other country which is not accepting cryptocurrency will start to accept after they search the benefits of cryptocurrency for their people.

[khimer_rangers]

I think it still takes a long time to become legal throughout the world,I think it still takes a long time to become legal throughout the world,and in my country, bitcoin or cryptocurrency can be owned but may not be used as a legal payment instrument.

[Akonobea]

It would not take  long time before cryptocurrencies are finally legalized in the world. All we need to do is to have some patience and wait for such moment. Many countries are now opening their doors to the blockchain technology and cryptocurrencies. in no time we shall be able to use cryptocurrencies to make transaction. I am very optimistic about this.