Regulation of Cryptocurrency Around the World

[davinchi]

Regulation of Cryptocurrency
Around the World

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

Regulation of Cryptocurrency
Around the World

Those countries who have marked cryptocurrency illegal will soon be consumed in shame when it becomes something that is unavoidable, they were too quick in declaring it illegal and not wise like other countries who are carefully studying and watching its effect on the nation, and from carefully studying it, they have already seen the economic benefits to them, and would try as much as possible to regulate it.

Looking at china,  we all know how much china loves power and to control things, and as powerful as they are, they didn’t declare cryptocurrency as illegal, they are just trying to control it by outing some measures in place for regulation.

[JohnBitCo]

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  .

Many people think that regulations in bitcoin will just add taxes to bitcoin which is not true. I think we need regulations in crypto currencies so that whales cannot manipulate the prices. The exchanges should be backed up and check thoroughly for security. The ICO should be allowed after proper scrutiny.  All these things will only be possible if there is some governing body who controls the overall crypto market.

[upsidedown75]

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.

Let us be truthful to ourselves, there is no point to keep clinging to cryptocurrency not being regulated, we have already seen the flaw of the system, the anonymity solution it presents has already been hijacked and being used for illegal means, which is already preventing the system from functioning to the fullest.

Regulation doesn’t mean that they will still be able to have full control over it, but to some extent that will make it prevent illegal operations being done through the system, this fraudulent practices the system is being used for is still the reason why some countries banned it and not fully because they want to gave control.

[awik p]

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.

Let us be truthful to ourselves, there is no point to keep clinging to cryptocurrency not being regulated, we have already seen the flaw of the system, the anonymity solution it presents has already been hijacked and being used for illegal means, which is already preventing the system from functioning to the fullest.

Regulation doesn’t mean that they will still be able to have full control over it, but to some extent that will make it prevent illegal operations being done through the system, this fraudulent practices the system is being used for is still the reason why some countries banned it and not fully because they want to gave control.

at least with regulations made by the government to minimize anonymous crypto can be minimized. in fact, I hope that cryptocurrency still has a decentralized system, where no one can control it. and I think of course we can find out the person after making a transaction on the local exchange

[Tommen9969]

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.

The signal is that most developed countries have legalized bitcoin, you can see in the picture. most of the countries that are green are classified as
developed countries. because they have already realized that blockchain innovation and virtual currency will be a currency option in the future

[gabbie2010]

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.

Let us be truthful to ourselves, there is no point to keep clinging to cryptocurrency not being regulated, we have already seen the flaw of the system, the anonymity solution it presents has already been hijacked and being used for illegal means, which is already preventing the system from functioning to the fullest.

Regulation doesn’t mean that they will still be able to have full control over it, but to some extent that will make it prevent illegal operations being done through the system, this fraudulent practices the system is being used for is still the reason why some countries banned it and not fully because they want to gave control.

Illegal and fraudulent use of cryptos was one of the main reasons for its regulations in some countries, the issue of illegal funding of terrorism via cryptocurrencies has to be checkmated else the world will continually become unsafe, some scrupulous individuals will capitalize on its anonymity to perpetuate evil in the name of terrorism.

[lobat999]

Sooner or later, those countries that forbids cryptocurrencies will eventually adopt this revolution especially when most of the world's leading economies would adopt it fervently. Time will came that they will realize its great benefits will overshadow its perceived ill effects and these Governments will not be hesitant anymore in embracing it. Of course we might also think that these Governments disapproval of cryptocurrencies might be a result of hidden genda's mostly unknown to us.

[fudster]

The PDF file kept crashing my browser. There were two RED spot on South America but only Bolivia was mentioned. Which is the other one?

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.

Saudi has banned it because their whole economy is based on the petrodollar. Their thinking is probably, "crypto undermines the dollar which undermines the petrodollar which would be bad for saudi".

Kinda isolating themselves. Isn't there an Arab coin and Arab base exchange?

[Onanana]

This rating is such a crap. Bitcoin is legal literally everywhere because it could only be considered as illegal if you can be arrested for holding cryptocurrencies. If there is no legal support or someone from the top politicians in the country said something against BTC then it doesn't mean that cryptocurrencies are illegal.

This is true. We tend to not really recognize the law, but we must take in mind that we are legal, as we all know by definition as stated above, it is .ore likely considerable as no laws implemented into it rather that illegal, just like in the autorized casino we have vegas casino you can bet legally which is safe, at the same time much more easy. We need to be smart enough in the decisions we make because not all are legal so be smart in choosing.

[Vishnu.Reang]

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.

Saudi has banned it because their whole economy is based on the petrodollar. Their thinking is probably, "crypto undermines the dollar which undermines the petrodollar which would be bad for saudi".

If crypto undermines the USD, then the United States should be the first country to ban cryptocurrency. But that is not the case. The problem with Saudi Arabia is something else. They suspect that crypto will be used by the oligarchs such as Al-Waleed bin Talal to move dirty money out of the country. And being a Wahhabist nation, they can also claim that Bitcoin is not halal.

[yoseph]

In my country for example there is no law criminalising the use of bitcoins at all and as a result, it's freely being used without any repercussion from the government and it also seems from the list that more and more countries have started to accept bitcoins for it's economic benefits to their country as a whole.

[semobo]

In my country for example there is no law criminalising the use of bitcoins at all and as a result, it's freely being used without any repercussion from the government and it also seems from the list that more and more countries have started to accept bitcoins for it's economic benefits to their country as a whole.

So in your country it is neighter leal nor illegal,many countries even not aware of the existence of crypto currency so just use this opportunites to hold as much as bitcoins you can or else you might have to pay taxes to the governments when there is regulations from your country.

[yoseph]

In my country for example there is no law criminalising the use of bitcoins at all and as a result, it's freely being used without any repercussion from the government and it also seems from the list that more and more countries have started to accept bitcoins for it's economic benefits to their country as a whole.

So in your country it is neighter leal nor illegal,many countries even not aware of the existence of crypto currency so just use this opportunites to hold as much as bitcoins you can or else you might have to pay taxes to the governments when there is regulations from your country.

Yes and we don't pay any taxes whatsoever when making purchases with bitcoins or when converting our cryptos into cash as well. From the looks of it, it will be a while before there is any type of regulations when cryptos are concerned.

[MrFreeRoMan]

Sooner or later, those countries that forbids cryptocurrencies will eventually adopt this revolution especially when most of the world's leading economies would adopt it fervently. Time will came that they will realize its great benefits will overshadow its perceived ill effects and these Governments will not be hesitant anymore in embracing it. Of course we might also think that these Governments disapproval of cryptocurrencies might be a result of hidden genda's mostly unknown to us.

India is now slowly but surely starting to deal with the blockchain and cryptocurrency! Appropriately, it will soon turn green! And yes, in the future they will accept it all, otherwise they will be considered outcasts!

[uneng]

There is a lot of work to do in Africa yet to make bitcoin recognized (it's not about regulate, it's about discovering crypto), it's the weakest continent in bitcoin usage. Africa is losing time, and time is literally money: money that could be helping the continent to left starvation and poverty.
Bitcoin is the perfect way to bring wealthy from outside to the continent, although there are more important challenges for african people to deal with besides financial needs.

[Leyss]

Regulation of cryptocurrency will happen vseravno, or it will simply be banned by the state for circulation on its territory. Moreover, regulation is needed both by the state and the cryptocurrency itself. Regulation is primarily necessary to establish a specific procedure and conditions for the circulation of a cryptocurrency, its legal status, rights and obligations of participants in a cryptocurrency market. We can already see the consequences of the lack of regulation of ICO activities; they are now on the verge of survival due to fraud that has overwhelmed them. This would not have happened if this activity was regulated by the relevant government agencies.

[fiulpro]

To be honest even in countries with the red sign , brown ones mostly the government is still thinking about it and trading is suspended till further hearing therefore we can still count them in the legal sector because most people still use person to person transactions and the forum's to use the cryptocurrencies.
As it can be seen on the map looks like more than 70% of the countries are accepting it and the remaining 30% wouldn't want to be left behind therefore sooner or later they will make the move and at the end make it legal.
Those 70% will have a good effect on the 30%

[Shenzou]

Some of these countries that are listed, have not yet declared bitcoin illegal or they haven't made any regulation towards it, so it unsafe to amuse that it is legal, because bitcoin is related to malicious activities like buying and selling drugs on the blackmarket on the dark net, and for that most of the third world countries have considered bitcoin illegal, so if you are caught using it you would be accused of using it for bad activities even if you are not because bitcoin is anonymous and they have no way to trace the transactions and where they are going.

[nak02]

Other countries that have been listed there are illegally using cryptocurrency, we can't deny that were using it in earning money or other purposes, but to think is someday in future it will be acceptable as long they can exploit it in the future too.

[LUCKMCFLY]

Other countries that have been listed there are illegally using cryptocurrency, we can't deny that were using it in earning money or other purposes, but to think is someday in future it will be acceptable as long they can exploit it in the future too.

You are right now in those countries that are prohibited, have a good bitcoin usage traffic, now there is a lot of VPN use that they manage to enter without any problem, except for those sites that have very tight SSL to detect it and not let it pass.

In countries of Africa it is very common to use VPN, where people make false profiles, but, I think this is limiting the options of people in the world, if this is a decentralized technology, there is no logic to the prohibition or the payment of taxes, this is not what is sought. Therefore, as a consequence, people always look for ways that are illegal to participate, so if there are limitations in the Crypto world, the ideas to break rules and laws will always be broken, and it will be bigger every day because it is already money with the that people are struggling to get.