Regulation of Cryptocurrency Around the World

[kryptqnick]

While I agree that general attitude of the countries and the world are expressed correctly, I often notice how such maps are not really fair. They are too pro-crypto. They treat countries that don't have an official stance on cryptocurrencies as those that legalized it. For instance, Ukraine is green on the map, even though no law has been passed on the matter yet. Yes, Ukraine actively uses cryptocurrencies and has businesses, related to them. But it would be more objective to mark it in yellow (neutral) rather than green, since cryptos are not legal yet.

[Mahanton]

Cryptocurrencies are illegal in mostly poor authoritarian countries(Saudi Arabia isn't poor,but it's definitely authoritarian).We don't need the support of such countries(maybe except China) and let's hope that no country form the green area will move to the red area.

Anytime it would turn from green to red depending if some countries would really switch up depending with their jurisdiction either on independent or being
influenced by other counties as well.Its good to look at on that map where majority is on green.Is there any legend on seeing which country are still on Neutral phase? Showing up some gray color would be
appropriate.

[Oceat]

Cryptocurrencies are illegal in mostly poor authoritarian countries(Saudi Arabia isn't poor,but it's definitely authoritarian).We don't need the support of such countries(maybe except China) and let's hope that no country form the green area will move to the red area.

Anytime it would turn from green to red depending if some countries would really switch up depending with their jurisdiction either on independent or being
influenced by other counties as well.Its good to look at on that map where majority is on green.Is there any legend on seeing which country are still on Neutral phase? Showing up some gray color would be
appropriate.

Let's just accept the fact that not all countries would join the bandwagon of Bitcoin it is because their government has their own principles about the fiat and crypto. But it doesn't mean that people from that country would not use cryptocurrency just because it is illegal. We are in an era which is the internet is the essence of all lifestyle on earth.

[hahay]

I found this information last year and it is true that many countries legalize cryptocurrency, therefore when the bear market is very dominant I am not too worried because cryptocurrency has other potential with a lot of support from big countries. In the future it is very possible to evenly green which means legal, but if there are still countries that cannot accept cryptocurrency, maybe they are just worried and don't want any other currency that will affect their financial and economic systems, but as time goes by I'm sure they will be open to something good like cryptocurrency.

[traderethereum]

-snip-

-snip-

-snip-

It's a long and skeptical process for Bitcoin to reach most countries but it isn't impossible. If we'll see the continuous development of Bitcoin, bigger countries are now willing to adopt and regulate it. If that will happen, it will influence other countries even those who are banning it. There are just developing countries which can't adopt it this early but that's acceptable.

I hope that it will no need to wait for a long to see every big country will approve bitcoin like what the other country already did.
For regulation, I think it will depend on each country situation on how they will allow their citizen to use bitcoin because I think some country will want to take a tax from their citizen because they use bitcoin.
The developing country will follow the big country to approve bitcoin if they could see how big the impact for their citizen if they use bitcoin and if bitcoin can help their citizen to get a better life, then I think the government with an open mind will give their permission for their people to use bitcoin.
So it will back to the government itself, and if they can see what is going on with bitcoin journey, then I think they will approve and make some regulation for their people.

[Seeker#9]

According to the map, it show that there are only few countries that banned cryptocurrencies for some reasons and they might afraid of negative impact on their economy. The majority of countries in the map are in green colors but I believe that some of them had imposed strict regulations on cryptocurrency transactions toorotect their local economies. And also there is no assurance that cryptocurrency will remain legal in some countries when a new leader comes to power.

[LUCKMCFLY]

I think the regulations in this world is like trying to limit progress, because due to all the technology that hides and that makes the blockchain look at the world, it has a lot to take advantage of, obviously governments want to take their own slice in front of the movements of Crypto.

In my personal opinion, I do not agree with taxes or regulations for people who use cryptocurrencies, because the main reason when all this was created is that there is decentralization, the non-dependence of a third party to operate with bitcoin or with altcoins, and if people start accepting it, it will be like leaving the power again in the hands of third parties, and that is exactly what Satoshi Nakamoto does not want or want.

The regulations seem to me to be just ways to introduce diplomatic transactions in bitcoin and cryptocurrencies. In particular, I always look for a way to not leave the government anything in terms of money coming from cryptocurrencies or bitcoin, and there are many ways that it can be done without breaking any law.

[Flyingduck2K]

Am I the only one that sees that only parts below the equator tend to ban crypto?

[CryptoBry]

This is a clear sign of the upcoming victory of when blockchain technology and cryptocurrency would be accepted. Payment with digital currencies are surely the future y'all, stick around for a while and you would see the vision of Satoshi been materialized.

As far as regulation and acceptance especially with connection to the governments, I would say that we are moving steadily though not on a trailblazing pace but still considering that Bitcoin is not that really old this is already satisfying and inspiring. There can be more positive developments coming in the coming months and years for Bitcoin as changes are slowly trek in. Working with the government and convincing them of the many advantages of regulating cryptocurrency is the name of the game...hopefully more will be joining the bandwagon soon. I am expecting that eventually India and Russia will pass laws regulating Bitcoin...these are two big markets and can be influential on how Bitcoin moves in the market.

[Twinkledoe]

This is a clear sign of the upcoming victory of when blockchain technology and cryptocurrency would be accepted. Payment with digital currencies are surely the future y'all, stick around for a while and you would see the vision of Satoshi been materialized.

As far as regulation and acceptance especially with connection to the governments, I would say that we are moving steadily though not on a trailblazing pace but still considering that Bitcoin is not that really old this is already satisfying and inspiring. There can be more positive developments coming in the coming months and years for Bitcoin as changes are slowly trek in. Working with the government and convincing them of the many advantages of regulating cryptocurrency is the name of the game...hopefully more will be joining the bandwagon soon. I am expecting that eventually India and Russia will pass laws regulating Bitcoin...these are two big markets and can be influential on how Bitcoin moves in the market.

Very true, the existence of bitcoin as well as other altcoins is considerably young. Such achievement according to the map is already outstanding. Sooner or later, those countries treating crypto as illegal will change their stance as they can see that first world countries are accepting it wholeheartedly. So what's in them not to see the benefits of crypto?

[ricardobs]

Regulation of Cryptocurrency
Around the World

You can find a list of 130 countries in this document.

Regulation of Cryptocurrency
Around the World

There are some countries that doesn't have any law on cryptocurrency, just like my.country (no need to mention), there is no law that has to do with cryptocurrency, and is all about choice whether you want to make use of it or not. I think the reason government in my country does not look into cryptocurrency yet is because there isn't anyone that is making use of it. I have never seen anyone talk about cryptocurrency where I live, even when I tell people, they act like they don't know about it and after explaining they don't show any interest.

[Ayiranorea]

Regulation of Cryptocurrency
Around the World

You can find a list of 130 countries in this document.

Regulation of Cryptocurrency
Around the World

There are some countries that doesn't have any law on cryptocurrency, just like my.country (no need to mention), there is no law that has to do with cryptocurrency, and is all about choice whether you want to make use of it or not. I think the reason government in my country does not look into cryptocurrency yet is because there isn't anyone that is making use of it. I have never seen anyone talk about cryptocurrency where I live, even when I tell people, they act like they don't know about it and after explaining they don't show any interest.

In the image it shows majority being legal, but it isn't the reality. Majority hasn't took any stance on the cryptocurrency adoption or usage. Very few countries have officially banned the usage of bitcoin within the country. Probably most of the countries with a neutral stance is added to the list of countries where cryptocurrency is legal. Whatever maybe the present scenario, in future we can see the entire world considering it legal realizing the need of cryptocurrency.

[VanDeinsberg12]

Regulation of Cryptocurrency
Around the World

You can find a list of 130 countries in this document.

Regulation of Cryptocurrency
Around the World

There are some countries that doesn't have any law on cryptocurrency, just like my.country (no need to mention), there is no law that has to do with cryptocurrency, and is all about choice whether you want to make use of it or not. I think the reason government in my country does not look into cryptocurrency yet is because there isn't anyone that is making use of it. I have never seen anyone talk about cryptocurrency where I live, even when I tell people, they act like they don't know about it and after explaining they don't show any interest.

In the image it shows majority being legal, but it isn't the reality. Majority hasn't took any stance on the cryptocurrency adoption or usage. Very few countries have officially banned the usage of bitcoin within the country. Probably most of the countries with a neutral stance is added to the list of countries where cryptocurrency is legal. Whatever maybe the present scenario, in future we can see the entire world considering it legal realizing the need of cryptocurrency.

That looks a wrong information for me. i believe most of them are not yet decided about the lagalization of crypto. They are should be on the gray area rather than put it into the green. I agree with you if that was not a reality but a lot of countries are still feeling doubt to ban or accept crypto.
They can't even decide it and that's why they don't give any confirmation regarding it. A lot of areas should be market as neutral.

[coinplus]

This shows more information about the laws than I know of my own country. That means either of two things, either I do not know my own countries law (which I doubt) or it doesn't have full information on some of the countries. What you have to understand is that there are case by case countries even with the biggest countries on that list, including USA.

Sometimes depending on what you do with crypto its totally legal, you think if you give out bitcoins into a charity someone would say where did you find it? No. However, lets assume you bought drugs with bitcoin, not only you will be jailed for that drug dealing case, but that bitcoin transaction will be seen illegal as well, so in one case you sending bitcoin is fine in other case you sending bitcoin is illegal. That is what I mean by case by case, it depends on what you do with bitcoin that decides on what type of consequences you will face. Most of the countries on that list is doing the same, its still a gray area in almost any country.

[yusupjatigumilar]

I just found out that China is a country that legalizes crypto currency as a means of their transactions. Even though I know this as same as China, it always makes an issue that the use of bitcoin in their country is prohibited, and in some ICO or IEO projects Chinese citizens also cannot participate, or do they want to use their own crypto currency?

[Adriano2010]

Is good to have regulation than to get banned and not let to people use crypto, i wish that all countries if want to put tax on crypto to put tax only on profit, and if people lose money invest on crypto to not pay tax.

[andriarto]

Is good to have regulation than to get banned and not let to people use crypto, i wish that all countries if want to put tax on crypto to put tax only on profit, and if people lose money invest on crypto to not pay tax.

I agree, the existence of a law that regulates cryptocurrency will make peace to invest in it. of course after that it becomes the government's duty to make a policy about taxes for the prosperity of a country. and this can trigger other countries to do the same

[Robotbitcoin22]

we must enforce cryptocurrency regulations throughout the world, because this is also important for the development and progress of cryptocurrency. with the regulation, of course, it will make the peace and prosperity of the world of cryptocurrency.

[CryptoBry]

This is a clear sign of the upcoming victory of when blockchain technology and cryptocurrency would be accepted. Payment with digital currencies are surely the future y'all, stick around for a while and you would see the vision of Satoshi been materialized.

As far as regulation and acceptance especially with connection to the governments, I would say that we are moving steadily though not on a trailblazing pace but still considering that Bitcoin is not that really old this is already satisfying and inspiring. There can be more positive developments coming in the coming months and years for Bitcoin as changes are slowly trek in. Working with the government and convincing them of the many advantages of regulating cryptocurrency is the name of the game...hopefully more will be joining the bandwagon soon. I am expecting that eventually India and Russia will pass laws regulating Bitcoin...these are two big markets and can be influential on how Bitcoin moves in the market.

Very true, the existence of bitcoin as well as other altcoins is considerably young. Such achievement according to the map is already outstanding. Sooner or later, those countries treating crypto as illegal will change their stance as they can see that first world countries are accepting it wholeheartedly. So what's in them not to see the benefits of crypto?

In my opinion, the big reason that blinded many governments not to accept and make Bitcoin legal by passing regulatory framework is the fact that they feel that with Bitcoin they are losing the control. So many governments are indeed control freaks, sad to say! Remember that governments usually have their central banks wielding so much power on the financial and economic matters affecting the country. They think that Bitcoin there is nothing they can do. However, this is a very myopic viewpoint because this is precisely they should pass regulations so that they can indirectly influence the Bitcoin marketplace. They should really see Bitcoin the same way they are viewing the physical gold. Of course, Bitcoin is much more than being the digital gold as we know that Bitcoin is also representing innovations and changes that can affect a country's economy and even politics by returning the power to the people and many governments do not like that idea.

[shesheboy]

we must enforce cryptocurrency regulations throughout the world, because this is also important for the development and progress of cryptocurrency.

crypto can develop and progress with or without regulations but regulations can make or break the momentum because some dislike regulations as they think this brings alot of disadvantages , one xample for that would be taxation for cryptos  while others are willing to embrace regulations because they think that regulations can bring advantages like for example , price stability  .