Considering the fact that New Zealand has implemented a pact where employees can get paid with Bitcoin I think that the next move that they can do is to adopt crypto payments as an official payment.
I don't expect any country from Europe to do (although we have crypto friendly countries such as Malta, Estonia) so as Europe acts late, due to the "heavy" decision making process in the Union.
Topic: Which Country Will Implement BTC/Crypto As Official Payment First ? (Read 234 times)
February 01, 2020, 02:32:06 AM
January 31, 2020, 10:52:59 PM
The national governments don't like Bitcoin, they aren't able to control it. That's why some countries are working on projects of national digital currencies.
January 30, 2020, 06:12:11 PM
I do not have any answer to this question. May be forum members have some predictions ? 
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
I believe Japan has already implemented the same. Is there anyone whi can provide the current status?
No changes since 2017 it seems.
Regulation of Cryptocurrency: Japan
Quote
The Payment Services Act defines “cryptocurrency” as
The Act also states that cryptocurrency is limited to property values that are stored electronically on electronic devices; currency and currency-denominated assets are excluded.
- property value that can be used as payment for the purchase or rental of goods or provision of services by unspecified persons, that can be purchased from or sold to unspecified persons, and that is transferable via an electronic data processing system; or
- property value that can be mutually exchangeable for the above property value with unspecified persons and is transferable via an electronic data processing system.
The Act also states that cryptocurrency is limited to property values that are stored electronically on electronic devices; currency and currency-denominated assets are excluded.
Of course there is also the KYC like rules for the operation of exchanges, etc. Funny how Mt.Gox got immortalized in the library of congress...
January 29, 2020, 05:42:25 AM
That's not clear yet. May be none or may be some. But one thing is clear that governments will not accept crypto easily.
Right now situation regarding future of bitcoin adoption is also blur because of internal issues of bitcoin like scalability. Lightning network is solution to this but its still in very early stages.
Right now situation regarding future of bitcoin adoption is also blur because of internal issues of bitcoin like scalability. Lightning network is solution to this but its still in very early stages.
January 29, 2020, 04:22:48 AM
It is difficult to say which country will first implement BTC crypto as an official payment because it is not officially endorsed and controlled by any country I don't think it will, and if it does, it will take a long time. Using own crypto has many limitations that are not easy to implement This is something many people don't like and the government and I don't want to do If crypto is an official payment then its transaction will never be easy.
January 27, 2020, 04:04:32 PM
Official? it will be difficult that a country will do that. They wouldn't prefer a decentralized cryptocurrency to be declared like that. But, they always have a choice to do that if not, it will come be as an alternative payment option.
I remember the news somewhere in states that they're now allowing to pay tax directly with bitcoin and they're using a third party service so that payment will automatically be converted to the current price of bitcoin and retain the amount of payment.
I remember the news somewhere in states that they're now allowing to pay tax directly with bitcoin and they're using a third party service so that payment will automatically be converted to the current price of bitcoin and retain the amount of payment.
January 27, 2020, 12:53:04 PM
I imagine this happening only in a tiny self-proclaimed state like Jamestown. Otherwise, no government in it's right mind would do this to their financial system
I guess you mean Jonestown? Then you might be right, but it's not a state it was a community. Any real government still wouldn't pull off this move
January 27, 2020, 10:50:51 AM
It would be a difficult decision for any country to make. But if I were to give a name, it would certainly be the Japan.
They are craziest of all to start with. They are fond of technology so much that they put it on everything. Everything that may need or not need them.
They have computers in toilets and toys. They are marrying with sex dolls and talking pillows. Where would we find such tech loving people in the world other than Japan.
They are craziest of all to start with. They are fond of technology so much that they put it on everything. Everything that may need or not need them.
They have computers in toilets and toys. They are marrying with sex dolls and talking pillows. Where would we find such tech loving people in the world other than Japan.
January 27, 2020, 09:07:09 AM
We can expect that some tropical tax heaven country could do so.
Unless we will see state-issued stable coins being introduced.
Unless we will see state-issued stable coins being introduced.
January 27, 2020, 09:05:00 AM
governments will never do this and they will be right in not allowing bitcoin as official currency. Reason is very obvious this will give powers in the hand of people who hold most bitcoins and government will be just an audience in this case.
January 27, 2020, 08:34:49 AM
I do not have any answer to this question. May be forum members have some predictions ?
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
I believe Japan has already implemented the same. Is there anyone whi can provide the current status?
China and Russia should not be in the list. Because none of these countries have any such planning to make bitcoin or cryptos an official currency. They are indeed planning to make their own digital currency instead of using a decentralized one!
But I surely think USA can become a frontrunner in this case. But again a lot depends on IRS and SEC, and they don't seem to like this idea!
January 27, 2020, 06:49:48 AM
One of the major things that people forget is why the USA is so strong. It's the same reason Britain is strong, and Canada would be if they were a little bigger. It's called freedom.
Politicians in the world forget that, for their country to be strong, all they need do is give the people freedom. And I don't mean that freedom from all law is good. I mean that freedom from excessive and oppressive laws is good.
Bitcoin can do this for a country. All that is needed is for the leaders to recognize this. The reason they don't is because it is very difficult to look through the haze of your own greed.
Politicians in the world forget that, for their country to be strong, all they need do is give the people freedom. And I don't mean that freedom from all law is good. I mean that freedom from excessive and oppressive laws is good.
Bitcoin can do this for a country. All that is needed is for the leaders to recognize this. The reason they don't is because it is very difficult to look through the haze of your own greed.
January 27, 2020, 05:19:10 AM
Never. Control of the financial system (or at least the minting of currency) is something the State reserves for itself. It might tolerate the use of cryptos but that doesn't mean they are enthusiastic about it. Going back to the Chinese, if their project goes well, it could be a blueprint for other governments to follow in rolling out their very own digital fiat.
January 27, 2020, 04:00:43 AM
I do not have any answer to this question. May be forum members have some predictions ?
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
corrupt and noncorrupt regioal authorities will always try to controll their own currency
internationalists will however not trust them and oppose them,
communist and internationalists like the uk labour party also turn out demanding patriotism once they have to deal with the reality of the financial system
January 27, 2020, 03:59:22 AM
Crypto are already usable for payment in many countries but if you're thinking of them as being legal tender, not likely to happen. They rather make their own cryptocurrency. Take for example Marshall Islands, which is hoping switching to a crypto would make it easier for investments to come into their country.
So the likely scenario is that current cryptos would coexist with "state-minted" crypto and you'd be able to convert between these since. And would still need to, I imagine the government would restrict certain industries or service to only accept their own crypto.
So the likely scenario is that current cryptos would coexist with "state-minted" crypto and you'd be able to convert between these since. And would still need to, I imagine the government would restrict certain industries or service to only accept their own crypto.
January 26, 2020, 02:32:43 PM
Cryptocurrency as payment will continue to grow as now, but the chances of cryptocurrencies to be an official payment isn't gonna happen soon. Same as now the growth will progress, and we can expect more and more online/offline firms to accept cryptocurrency payment. Countries go on regulating the usage of cryptocurrencies, but takes time to go official.
January 26, 2020, 11:56:33 AM
Not going to happen. They are going to introduce their own state run digital fiat versions. Eventually they will try to regulate free crypto out of existence using the pretext of preventing money laundering, terrorism, pedophilia, global warming, drug dealing, hackers, and any other bullshit they can tack on to the list.
+1 to this.
No government in the world is going to say that Bitcoin (or any decentralized, non state run currency) is the new official currency of the nation. It's stupid for them to do that, as they're going to give up one of the biggest powers of a government which is monetary policy. Controlling the currency is one of the greatest things that a nation can do.
State run digital currency is the future, at least in terms of official state currencies.
January 25, 2020, 02:23:48 PM
Did you ever heard about kailsaa?
It is not approved as country yet but they claim they will become a country soon and also created their flag.
It is not approved as country yet but they claim they will become a country soon and also created their flag.
Quote
our aim is to create a Hindu Reserve Bank which creates its own supply of money which is not contaminated by fiat currency.
This is their economic goal. 
January 25, 2020, 01:20:14 PM
Not going to happen. They are going to introduce their own state run digital fiat versions. Eventually they will try to regulate free crypto out of existence using the pretext of preventing money laundering, terrorism, pedophilia, global warming, drug dealing, hackers, and any other bullshit they can tack on to the list.
January 25, 2020, 01:14:46 PM
I do not have any answer to this question. May be forum members have some predictions ?
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
For sure, not USA, China or Russia as first ones. Plus this can cost some money to do this in whole country ( BTC ATM and so on ).
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