Legalisation Of Bitcoin In Countries

People often ask that why Bitcoin is not used widely across the globe. Despite having so many positive sides,Bitcoin Evolution is still struggling to be an alternative of conventional currency. With the waves of digitalisation one by one, it is assumed that one day Bitcoin will also be one of the popular mode of transaction for many people as there is no hassle of managing hard cash, no limit of exchange, no bar for time and place and no problem with the accessibility.

Talking about the countries, it should be said that Bitcoin can’t be used all over the world. It has several restrictions. After the invention of Bitcoin, many countries have nodded yes for the citizens to have ownerships of Bitcoin, but many countries rejected that offer and preferred to keep their countries away from this new digital currency. For them, the anonymity and the public accessibility is not a safe option. According to them, many illegal transactions will be processed after the legalisation of Bitcoin. The computer generated process of mining to confirm the transaction and generating coins don’t seem safe to them. On the other hand, some countries believe in giving the citizens the complete control on their money and prevent any interference of any centralised organisation.

Countries who said YES to Bitcoin are:

  • The United States of America
  • Canada
  • Australia
  • The European Union including Finland, Belgium, United Kingdom, Germany, Bulgaria, Cyprus etc.

Countries who said NO to Bitcoin are:

  • China
  • Russia
  • Bolivia
  • Columbia
  • Vietnam
  • Ecuador

Although Bitcoin is 10 years old, the trust factor is still not at the place where it was expected to be. One of the main reasons behind it is the incomplete development of the technology. Bitcoin is a Beta version. The future may be different when the entire process will be completed. Let’s see.

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