How do different countries and regions view and regulate Bitcoin BTC , and what implications does this have for its use and adoption around the world
I do not think it is possible to answer the question in sufficient detail, since the status of Bitcoin varies from country to country and from region to region.
In general, countries can be classified into three types in relation to their dealings with Bitcoin:
- Countries that legalize the use of Bitcoin and recognize it as an official currency: Unfortunately, their number is few, and the idea may not be successful for many of them. Among those countries are El Salvador and Central Africa.
- Countries that prohibit the use of bitcoin according to clear legislative laws: Most countries in the world prohibit the use of bitcoin according to laws that prevent the use of currencies that are not recognized by the state and consider them within the framework of money laundering and financing suspicious activities.
- Countries that do not legally legalize the use of bitcoin, but do not mind enabling companies operating in the field of crypto to obtain work licenses. It can be considered countries that are lenient with the uses of bitcoin and are closer to legal adoption than others.
In countries that follow a federal system such as America, the use of bitcoin may be permissible in a particular state and prohibited in another. The United States is an example.