Cryptocurrencies are being used nowadays by millions of people. For buying or selling, investing of saving, their uses are multiple. Nonetheless, not all the States agree with their private using of these. This is why there are countries where their use is prohibited, and its possesion is penalized. But this is not the rule, and many are the governments han accept cryptocurrency in their territory. We’ll talk a little about some of this avant-garde countries. We hope it helps.
Japan has always been an avant-garde country when we talk abbout technology. This country quickly accepts progressive changes created by society. The case with cryptocurrencies is no exception to this. The Japanese is the first country in the use of Bitcoin, and its use, as with other cryptocurrencies, is totally legal. Thus, financial services can regulate the cryptocurrency market. According to the Virtual Coins Law, Bitcoin is considered an asset and payment method acceptable through the entire territory.
Big and small shops already accept criptocurrency as payment method, being Bitcoin the most accepted. Is the country with the biggest amount of accepting of its use in SMEs. Without a doubt, this country is completely avant-garde in the cryptocurrency world.
Another asian country that loves technology and is avant-garde in this topic is South Korea. According to statistics, 1 out of 10 people had invested in Bitcoin, and the power of its people is so big, that commentaries made against their use made by one of their Ministers was a cause of the collapse of its price. Cryptocurrency are so important in south korean territory that they’re legalized and regulated. This way, it’s prohibited making transactions anonymously in cryptos, to protect the user against frauds and robberies, or their use for money laundering. The third country with the most use of cryptocurrencies, its without a doubt a country were cryptocurrencies are accepted.
The second economy of the world is without a doubt avant-garde in cryptos. Is at the same time the second country with most use of them, only being overcome by Japan. Is, at the same time, the first country on cryptos minery. Being a world power, their decisions when it comes to the use and commercialization of cryptocurrencies has a big impact on its use and price. Similarly, there are government institutions dedicated to investigate and prevent its use for ilegal transactions.
This Oceania country is one where cryptos and at rise. Not only allows the commercialization, extraction and buying of cryptos by entities, but their Taxes Office consideres its transactions as subject of taxes appropiated according to the use and the user that uses it. Their banks have announced already the potential blockchain has for transactions, giving it more confiability. There have been processed up to USD$750.000 weekly for the use of services. This is turning it every day more in a crypto country.
One of the leaders in the world economy, it’s not weird that’s also leader in cryptos. Even with cases of fraud and scams in recent days, cryptos and the blockchain in the United Kingdom are at rise. From Oxford teachers that are looking to invent the first blockchain University to governers and politics that promote publicly its use, everyday is more common its use in the United Kingdom. According to investigations by groups like Big Innovation Center, the country will become a leader on blockchain technology and cryptos by 2.022. A really interesting country to watch.
An unreliable economy and lack of foreign exchange made Venezuela a future potential crypto country. From particulars to attempts of regulating them by the State, the steps that Venezuelans are doing takes us to giving it an honorific mention, for the increase of the community that uses cryptos to make transactions and saving their money for inflation, besides is legal regulation by the State.
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