We've got so much FUD in the news today but in all of this negativity we have a few positive outcomes as well. Many countries are banning cryptocurrencies, ICOs, and trading platforms. However, there are a few countries that are welcoming mainstream use of these virtual assets.
Australia
Recently, Brisbane Airport-the largest airport in Australia will become the world's first aviation hub to accept Bitcoin and few select alt-coins. According to the report on Telegraph, they are likely to accept alt-coins such as Litecoin, Dash, Ethereum as well as Steem. Steem for payments? Sounds unbelievable at this early stage but I would be happy to see that happen.
Brisbane airport seems to have tied up with TravelbyBit Australia- a tourism company to enable these new payment methods. This move will allow travellers to pay for airport shops, bars and restaurants using cryptocurrencies.
This is amazing on part of the government in Australia to allow their citizens and tourists to pay for goods using virtual money.
Japan
Japanese has pioneered legitimate use of cryptocurrencies such as Bitcoin and made it a legal tender. This means that you can purchase items at nearly 300,000 retailers across Japan or whoever else in the country that accepts it. This move has been hailed by cryptocurrency enthusiasts world over as Japanese government is often considered to be conservative.
But their willingness to open their market to facilitating greater use of virtual money has made the world sit up and take notice. Japan is likely to continue regulating this market but hopefully it will remain competitive enough for everyone to continue participating.
These virtual currencies are very popular amongst the Japanese youth owing to the substantial returns they generate in short periods of time. Hopefully, Japanese exchanges will maintain higher levels of security to prevent further hacks of their users' money.
Belarus
This is one of the coolest news I've come across recent time. Belarus government legalises cryptocurrency in their country to boost foreign investment. Belarus underwent a recession in 2015 and 2016. This move is likely to boost their economy in the long run if many people decide to invest into blockchain businesses operating out of Belarus.
Most state owned companies are loss making with little to no reform in a long time. Legalising Bitcoin and cryptocurrency gives their citizens newer opportunities in trade and commerce.
If only most governments thought of it, regulated their markets and made it easier and safer for their citizens to trade then this whole market would've seen a greater rate of adoption.
Belarus government has legalised, cryptocurrency trading, ICOs and transactions in cryptocurrencies and made the trades tax-free for 5 years. This is an incredible move from the government and I sincerely hope bigger governments across the world will move towards this effect in the future.
Indian government is expected to come out with some kind of basic framework for cryptocurrencies later in the year. I hope they do a good job out of it. As for China, I feel bad for their citizens who aren't able to exercise their right to use their money in the ways they want to. I hope no other government follows suit and does something radical as banning access to this industry completely.
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Awesome read! I wonder when the airports receive the digital assets do they leave it in coin or convert it to fiat?
I can see pros and cons of both...
i think now this is not possible in india. Even they say these are not cryptocurrency these are cryptoassets ..lol ...Only jio coin can bring revolution in this field in india.
Really cool my sister just moved to japan this year and I will be going to vist in August! Maybe i'll get to spend some of my crypto there!
On a side note my province is starting to have BTC ATM's installed around!
THEY CAN BAN IT IN INDIA THEY CAN BAN IT IN CHINA, BUT THEY CAN NOT BAN PEOPLE ACCEPTING COINS :)
#ADOPTCRYPTOGOD
https://steemit.com/cryptogods/@mfg/l316uu4d
#CRYPTOCARTOONS
#CRYPTOWORLD
https://steemit.com/bitcoin/@mfg/blockchain-technology-in-near-future-deep-analize-of-humanity-fate-and-will-must-read-bitcoin-cryptotities-cryptokitties
They are not gonna ban them, they create crypto that they control.
GOOD POINT I AGREE WITH YOU ANYWAY WE HAVE TO EVOLVE...AND FIND A WAY TO FREEDOM TROUGH COINS WHICH WILL NOT BELONG TO THEM>>><?
Some good news! I resteemed
Spend your STEEM or btc on some uk tradesmen
Are they accepting BTC haha?
What I know for sure is that those people who are against bitcoin will still run back to bitcoin...i hope my county gets a hold of cryptocurrency...thank you for this post @firepower...just followed you too
Best of Luck @bhoa I am sure with time will come many good things. I think many of the smaller countries will be at an advantage when it comes to adopting digital currency because of less regulation than the larger power house countries.
This is good news and bode well for the future. I hope just like you, more countries would start accepting cryptocurrencies as mode of payment, particularly Steem. Wouldn't that be something? I admire Japan, Belarus and Australia who adopted it. Nigeria hasn't kicked against it either but i hope they think like the developed and established economies too. Many countries see it as a threat to holding their local currency.
You forgot maybe most important country for crypto,Switzerland.
They are open to crypto and some banks like Falcon private bank (https://www.falconpb.com/en/home) even aloud keeping Bitcoin on your account.
India have to do much more on cryptocurrency. During the budget speech finance minister said that Bitcoin is not a legal tender in India. After that there are sudden fall in cryptocurrency market on Indian Exchange. Rumers spread very rapidly that Bitcoin is banned in India. Let's see what is the next move of Indian government.
I thought the hearing in the US senate on cryptos today went relatively well. I suppose the fact that ICO's are considered securities has some downside, but at least this bring some clarity/legitimacy to the space. Also it was clear that the heads of the SEC and CFTC don't plan on taking hostile action against the space as a whole, rather they recognized its potential. I think this is great news in terms of the effect that US regulation could have on the global market.
I agree - clarity is good.
But costly regulation will freeze out as many good ICOs as dodgy ones.
my dream is to be able to buy common things, like groceries with cryptocurrency, would be awesome!
This will come eventually
Choice India obviously.
For every country that bans it, there's one that welcomes it.
Good news to the crytocurrencies lover its amazing to trade with particularly in this era but africa country are laging behind please we people in Nigeria are encouraged because posting a post in a day and nobody will upvote it and at the end realy one will be rewarded with 0.03 why are we wasting our time.please help us im not happy and encouraged
China, the over protected country who make a wrong decision with its mind close. Try to control its people, however its people find ways to get it. And due to that news that manipulated by mainstream media, newbie investor who enter crypto for Lambo and quick rich scheme did a panic and broke.
Additional info, philippines already accept crypto currency as tender of payment but unannounce yet.
The few pioneers that embrace crypto and blockchain instead of banning it will reap the benefits of their early adaptation. While everything might look like a bloodbath right now, I am sure better times are ahead of us! Governments and especially banks are getting scared... the war has started! Let's go for the win!
Seriously, who needs cryptos the most... Travellers!
You can not carry significant amounts of cash for "Just in Case" and many refuse different currencies, what's a traveler to do. Hopefully in the future cryptos and atomic swaps are the answer.
But all sectors will advance more with cleaner more efficient methods of payment.
Hey @firepower! Great to have a post on steemit that mentions Belarus, its my motherland! This country isn't really famous so I'm going to add some info here.
State economy is not super efficient, but we have pretty big Tech sector full of private companies that are blossoming right now.
This is called High Technology Park (HTP). This is the organization that unites Belarussian IT companies and provides them really good conditions (in terms of taxes and laws).
Crypto legalization that you mentioned is just a one of the parts of a bigger president decree that has a goal to grow IT sector in the country.
Right now IT in Belarus takes around 4% of GDP, government has a goal to increase this percentage significantly.
Our IT Sector is 90% based on services, meaning we provide outsourcing services like development, qa and support. But several world famous startups were born in Belarus:
I hope that new laws on crypto legalisation will burst the development of the country even further. For all who might be interested, you might google for Belarussian HTP and its companies, new Crypto Laws and Taxes.
Really happy to see my country got mentioned here! Thanks
This is the bright side of the storm!!
A lot of panic sellers are only reading the title of the news... Banned BTC, Banned ICO´s, etc.
After the storm comes the calm, and the ones that had the balls to stay and even to invest heavier will make huge profits. Projects that have potential and are unique ideas will eventually succeed, that's the way evolution works!
Well put
INDIA plans to make cryptocurrency illegal to prevent cryptocurrency from entering the country's traditional financial system, said a finance ministry official.
Blockchain is the future, no more barrier on financial world.
Even all country of world ban crypto, there will come the time they accept and implement crypto
Regards
@azmielbanjary
Will see what the SEC says tomorrow. Everybody is waiting for that response
Coins mentioned in post:
Nice to read some positive news for a change. Thanks for an encouraging and interesting article. 😊
That's good news so far, otherwise was so sad for china decisions according to the news. It made a big impact on investors.
That would be cool to pay with Steem while you're waiting to catch a plane. Soon!
Good post, your post is very helpful.
It's really nice to see at least some of the countries embracing crypto.
Just a shame not all countries aren’t doing the same. cough UK. Light years behind the rest of the world when it comes to new technologies. Pretty standard! 😂😂😂
Very good news.
Travelbybit I did read that
Sure in coming month of March after G20.there might be chance of countries accepting cryptos at least as assets not currency though.
Don't know China may come with its own crypto currency in near future.
The countries that are banning cryptocurrency are doing so with considering of their local currency. Bitcoin and other cryptocurrency is seen by them as a means to devalue their local currency. But I have faith in CRYPTO despite its shaken state right now. It'll still remain the future of money to me.
Belarus news is really the best amongst them all, great way to enrich it's citizens by allowing cryotocurrency
follow me and I follow you!
i wish america would make something tax free anything lol
very useful and motivated in cutting the value of one post quality
That's totally amazing, Canada has been doing a lot of great thing with blockchain tech, check my blog for fresh news and analysis.
VERY COOL news! I really liked Brisbane Airport accepting it! This move in Bitcoin is NOTHING to worry about :). Thx for the post!
Yes the last 14 days have been FUD with FUN on top, and its nice to see good news and initiatives from around the world.
Could look like the SEC is "friendly" towards bitcoin, well time will tell but the dip will soon end no matter what.
https://ethereumworldnews.com/sec-supportive-clarity-fairness-crypto-space-testimony-us-senate/
Here in Ukraine you can also pay with Bitcoin in few restaurants and for other services. Our biggest state bank Privatebank even propose to buy Bitcoin on their site. I hope Steem will be so popular as well here:)
This is what the world needs. Resteemed!
Bitcoin is up....
Proof here
https://steemit.com/bitcoin/@marco-polo/bitcoin-price-is-up-o-g-views-reality
you're welcome!
Great post. I just posted yesterday about all the thing that are happening in Brisbane, Australia. You're welcome to take a look: https://steemit.com/teamaustralia/@juanete20/something-bit-is-happening-in-brisbane
Of all places, I didn't expect Australia to partake in legalizing cryptocurrency and making one of the airports be able to use it as payment.
Great ray of positivity! Thank you.
That sounds Amazing. Props to Australia for doing this. :D Yeah we for sure need to see more of this around the World :D
THEY CAN BAN IT IN INDIA THEY CAN BAN IT IN CHINA, BUT THEY CAN NOT BAN PEOPLE ACCEPTING COINS :)
#ADOPTCRYPTOGOD
https://steemit.com/cryptogods/@mfg/l316uu4d
#CRYPTOCARTOONS
#CRYPTOWORLD
https://steemit.com/bitcoin/@mfg/blockchain-technology-in-near-future-deep-analize-of-humanity-fate-and-will-must-read-bitcoin-cryptotities-cryptokitties
Good to know. Despite the FUD, there are many places where cryptos are gaining ground. The future is coming whether some countries are late to the game or not.
I agree with you I just hope that soon my country will also recognize the use of crypto..
This is good and even here in my country Nigeria, the Senate are trying to discuss on how to adopt the use of digital currencies which is a great move here. Bitcoin is going to moon back soon. I know that STEEM-IT is going too be generally be accepted in some major part of Nigeria soon as more learned Nigerians are joining everyday.
Still the crypto are scarry for most of people especially what is happening now to the bitcoin and the rest of cryptos but at the end i hope that it will succeed to get to the goal that we are all aiming to
Thanks for the post good for sharing
This is my article of the day. Thanks for summarising all this for us. It's very important to be informed on the policies, so we can distinguish them from folicies.