Topic: US or China: Who do you think will legalize bitcoin first? - page 2. (Read 14949 times)

i believe China will legalize bitcoin first because china is more open and more flexible to things than US who usually take so much time in analysing things before making decisions

I think none of them legalize cryptocurrencies. Because it can kill the country's economy.
On the other hand, China or America can create an allied cryptocurrency. Of course, this will have little to do with decentralized cryptocurrencies. But I see it possible. And I see the possible introduction of blockchain technology into the country's economy.

If US officials feel that they lose their relatively high control on cryptocurrencies, they can easily change their minds and be faster than Chinese goverment. Since cryptocurrencies are decentralized, they firstly want to have full control on the crypto-market.

I think China will go first. They are seriously studying everything that can benefit a lot of their people.

Uhmm is an interesting debate, because of the democracy that usually has the USA we could think that they would unban it first, but also think that the Chinese care a lot about business and making money, so it is also a matter of time before they see in the crypts as an opportunity to gain more power/control/money.

i think and strongly believe China will legalize bitcoin before US. China is open to technologies and innovations unlike US who try to always want to make critical analysis first. But then we dont know what will happen. soon events will unfold

The competition of bitcoin first legalization between US and CHINA is unknown. But in case the president of the particular country is PRO - crypto, I assume it will be the first country making crypto legalized. Of course seeing more advantages parts of crypto meaning into the country to have much better place.

Well these two countries have very strict rules against cryptocurrencies even though they are trying to find some regulations to it but i believe that the US is quite positive to the legalization of bitcoin and cryptocurrencies than the Chinese government is opened to. But we cannot jump into absolute conclusions since the Chinese can just decide to legalize it one day. Let's be patient and see how the future unfolds.

China has seemed to be very anti-Bitcoin/crypto as of recently, whereas the US is very open to crypto, and even talking about how to better tax it, etc. The major big thing in the US that I was last familiar with was the reluctance for a Bitcoin ETF, whereas in China, they were cracking down on "illegal" crypto miners.

According to Wikipedia:
"Bitcoin and similar cryptocurrencies are regulated as both currency and as a security under U.S. law. Within the U.S. many states are also pursuing legislative/regulatory efforts to cover crypto instruments"

So crypto is being recognized on a Federal level and within some of the individual States.

Whereas according to the Library of Congress:
"China does not recognize cryptocurrencies as legal tender and the banking system is not accepting cryptocurrencies or providing relevant services. The government has taken a series of regulatory measures to crack down on activities related to cryptocurrencies for purposes of investor protection and financial risk prevention. Those measures include announcing that initial coin offerings are illegal, restricting the primary business of cryptocurrency trading platforms, and discouraging Bitcoin mining. In the meantime, China’s central bank is reportedly considering issuing its own digital currency."

Communist mainland China desires control over every aspect of life, and they certainly don't want a means of exchange that would be out of their control and that could move money out of the country without their knowing/control (some of this probably also applies to the United States, or at least certain entities within her).

Hope that helps,
The Cyberius team.
 

for me i think China will legalize bitcoin first as they are very fast in approving things like cryptocurrency as compared to US who always try to analyze things critically first.

I think that America is the first to legalize bitcoin, because this country seems to me more progressive. But China is quite possible, can develop its own cryptocurrency. I recently read the news that the countries of Southeast Asia are ready to create their own cryptocurrency, which will operate on the territory of their countries.

It is very difficult to say for sure, because these two countries are very strong in terms of the economy in terms of technology. But I think that the USA will be the first to use cryptocurrency and thus develop it on its territory.

That's one tough question that can be answered in cryptospace. I think if there'll be amy chance for.legalization  may be the USA. China has boldly declared war against cryptos and they even frown upon blockchain technology in a way. Nevertheless, the USA is still trying to find out any better thing they can do to make things better. We hope for a better stands amidst the two anyways.

China is now developing at a crazy pace. It is increasingly being introduced into the world economy and now it is one of the strongest countries in the world, so I will not be surprised if they will soon fully accept cryptocurrency as a means of payment.

China is a control freak they won't be too open about crypto, but I'm sure they will regulate it somehow. EOS and NEO will start to pump along with thekey as China starts to take hold of crypto

As Chinas politic will control everything and bitcoin they cant control.
So i guess US will do the move first but is it not already legal in USA ? be course many mining farms there ?


regards

China has a ranking of all cryptocurrencies including butcoin. It is only that in their ranking, Bitcoin is not number 1. How else to recognise a think when you are already given it a hirachy? I have not heard or seen where the US have their ranking. Or is CMC coin marketcap ranking a US official ranking? So I feel China have tecnically legalize bitcoin.

To be honest, i think that china is going to be the first one that is going to fully accept and recognize bitcoin.

But who knows? Trump is having a bunch of problems with the Federal Reserve at the moment and everything can happen in just a few months.

The both country will neither legalize it any sooner because as for the situation of it, they are not ready to fully accept it. However, if you look at it I think China would be the first to legalize because the US now is so strict in terms of the things like this and US doesn't fully accepts and brace the cryptocurrency for such a reason.

introduction doesn't need to be accompanied by "legalisation" it can also simply be introduced, and the "state officials" are adapting themselves to the new reality.