[Blockchain Classroom] Lesson 14：What are the attitudes of countries towards blo

[BitRabbit_Official]

From a global perspective, governments of different countries have different attitudes towards blockchain and blockchain assets, but overall they are still in the exploratory period.

European and American countries actively regulate them. Germany was the first country to recognize digital assets such as Bitcoin as private property. The US CFTC ( U.S. Commodity Futures Trading Commission) characterizes Bitcoin as a commodity. New York State currently has issued 3 BitLicenses.
The situation in Asia is different. Japan actively supports it. In April of this year, Japan implemented the Payment Services Act, officially recognizing Bitcoin as a legal payment method.

South Korea actively regulates it. In July 17th, South Korea launched the "Bitcoin Regulation Act", setting a threshold of 500 million won for investors.

China's strictly supervises it. In September 2017, the People 's Bank of China and other seven ministries and commissions jointly issued the “Announcement on Preventing the Risk of Token Issuance Financing,” stating that in China, trading platforms must not engage in the exchange business between fiat currencies and “virtual currencies”.

[joelsamuya]

One thing for sure is that there is no uniform treatment of Bitcoin from one country to another. As of now, there is no international body recognized for defining things related to Bitcoin on its use, trade and similar things. The most important for now is that recognition has been granted in one form or another allowing Bitcoin to legally function and flourish, though of course opened up concerns on control and centralization.

[avikz]

What's the conclusion of this post?

I think it's better to visit Wikipedia to know the legal status of crypto assets. See the below link,

https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

It gives better overview of the situation worldwide!

[Wintersoldier]

One thing for sure is that there is no uniform treatment of Bitcoin from one country to another. As of now, there is no international body recognized for defining things related to Bitcoin on its use, trade and similar things. The most important for now is that recognition has been granted in one form or another allowing Bitcoin to legally function and flourish, though of course opened up concerns on control and centralization.

Basically the rules to implement blockchain and bitcoin needs to be fit to the jurisdiction of a specific country. All countries are different. With this regard the peoples information in relation to providing support to blockchain projects and cryptocurrency should be widely presented so the government could choose the best possible way they could help bitcoin and blockchain projects to be implemented. Believe me or not, they just need to be properly informed because they do not really hate technology.

[Dart18]

There are still a lot of countries out there which needs to move about legality of it but it seems like their mouths are still shut about this or they are just still blinded by the fiat money they are stealing from the people tax.  

Regulation is already on its way to being legal. I am okay with that.
The problem is if they don't really care and it seems they will do any Act about this and just let the rich do their way to avoid taxes.