El Salvador made Bitcoin legal tender in September 2021. Alex Dovbnya Malaysia has become latest country to refute plans to make Bitcoin an official currency Malaysia's Deputy Finance Minister I, Datuk Mohd Shahar Abdullah, has refuted rumors of Bitcoin adoption earlier today, clarifying that the country has no plans to make the largest cryptocurrency a legal tender. Of course, an appreciation in the price of bitcoin could make this no bad thing for the El Salvador government - and is likely to make citizens think twice about converting crypto into cash. A recent poll by YouGov has shown that that 27% of US residents supported the idea of making Bitcoin a legal tender in the United States. Bitcoin News. As per the reports, the Central African Parliament bill was approved on April 21, 2022. El Salvador became the first country to make Bitcoin a legal tender. Now, with CoinMarketCap's new legal tender prediction feature, you can make up to three predictions about which country or region will make cryptocurrency legal tender next. Vietnam 10. Forum. It's been over six months since El Salvador became the first country in the world to recognize Bitcoin as legal tender . The regulatory environment also varies from one country to the next, with some nations delegating all crypto regulation to the EU and others taking a more hands-on approach. For many, crypto is a great hedge against inflation - an issue that is back in the spotlight now that the annual inflation rate in the US has reached 7.9% for the first time since 1982. Regulators have released a statement claiming that they are examining the prospects of allowing . Remittances, inflation, and politics will prompt at least five developing countries to accept BTC as legal tender by the end of 2022, says Alexander Höptner. El Salvador has set a new precedent with legislation that made Bitcoin legal tender on September 7, 2021. READ: Bitcoin higher as El Salvador legislature backs president's plan to make crypto legal tender However, El Salvador's decision has left many wondering if other countries will follow suit in adopting Bitcoin as legal tender, with some nations having already hinted that they too could open the doors to crypto and run against the cautious . Singapore 11. It looks just like the 10,000 Bitcoin purchase of two Pizzas that showed that BTC could be used as a medium of exchange. 08-03-2022: El-Salvador becoming a tax haven country of crypto. Ukraine makes Bitcoin legal in the country. By Sunil Sharma. The latest update from Zimbabwe authorities has confirmed that the government is in consultation with the private market to legally adopt crypto payment services. El Salvador on Wednesday officially became the first country to adopt bitcoin as legal tender.. President Nayib Bukele announced on Twitter just after 2 a.m. Malaysian Minister Says Crypto Should be Legal Tender Malaysia could be the next country after El Salvador to make crypto legal tender. Status of legal tender. Mostly concentrating are the developing countries that are keen upon BTC legal tender. Earn. Bitcoin is an official currency of El Salvador alongside the US dollar, after it became the first country to adopt the cryptocurrency as legal tender. Crypto Legal Tender. The Central African Republic Has Passed a Bill to Make Bitcoin Legal. Belarus 8. Though crypto is becoming more widely used in countries all around the world, there aren't many places that have adopted it as a national tender. Buy & Sell. Canada 7. Let's find out which these countries are and which crypto-coins are legalized by which countries. Thailand 12. Oct 8, 2021 12:16PM EDT. India 13. United States 3. If the country makes a success of the legal tender and overcomes any "teething problems" it can encourage others to do the same and may result in bitcoin becoming a mainstream legal tender. As per the reports, the Central African Parliament bill was approved on April 21, 2022. "This is the shot heard 'round the world for bitcoin." Crypto Legal Tender. The announcement was first reported by Forbes Monaco. Swing. Ukraine makes Bitcoin legal as the adoption rates in the country have skyrocketed. El Salvador made history last week as it took a government vote to pass laws that brought Bitcoin into its mainstream financial system. As per the reports, the Central African Parliament bill was approved on April 21, 2022. Most countries still used traditional currencies, like the dollar, the rupee, or the pound, but this isn't the case everywhere. Traders may be waiting for Wall Street to open before placing large directional bets because Bitcoin has been tightly correlated with the S&P 500 in the past few days. But, except for El Salvador, no other country has so far given Bitcoin, or any other cryptocurrency, the status of a legal tender. The city of Zug in particular is a real hub for crypto companies . In this segment of "The Crypto Show" on Motley Fool . Read More. Most countries still used traditional currencies, like the dollar, the rupee, or the pound, but this isn't the case everywhere. Could your state make cryptocurrency legal tender in the near future? There are so many countries already accepting Crypto for payments and transactions as a legal tender, just like the Australia Prudential Regulatory Authority has laid out a policy road map for Crypto and Digital assets and there is a financial regulator aiming to implement the regulation by 2025 in Australia. In fact, various experts predict that between two and five countries will make BTC legal tender in 2022. "My . Crypto Adoption, Regulation and legalization If we ask CoinMarketCap users about which country they think will be the next to adopt crypto as legal tender, Paraguay, Venezuela and Anguilla (a tiny Caribbean nation) lead the race. Accordingly, he views a true potential growth for those countries which have cryptocurrency as their legal tender. In many of these countries, like the US . This is focused mainly on hopes that BTC legal tender will develop the economical stature. There are so many countries already accepting Crypto for payments and transactions as a legal tender, just like the Australia Prudential Regulatory Authority has laid out a policy road map for Crypto and Digital assets and there is a financial regulator aiming to implement the regulation by 2025 in Australia. "Developing countries will jump into crypto in 2022," he said. El Salvador - the Pioneer On 9th June 2021, El Salvador signed a law making bitcoin a legal tender. "BREAKING: Governmental adoption is growing even more, as #Bitcoin will become a legal tender in The Central African Republic. Earn RENEC. Words: Rhys Thomas 16th September 2021 Wait, what's happening in Panama? In April 2018, the EU Parliament voted to introduce tighter regulations for cryptocurrencies. This law was changed slightly in 2020 to say that issuing, dealing or promoting cryptocurrencies was illegal without a license from the central bank of Egypt. El Salvador has officially adopted Bitcoin as legal tender. Although no law has yet been passed, Panama is the country furthest along in the race to be the second country to adopt Bitcoin as legal tender. According to local news, the exclusive Computer . But if we look at adoption rates of crypto, Chainalysis, a crypto research firm, paints a completely different picture: The Next Domino to Fall. Building Wealth The announcement was first reported by Forbes Monaco. Panama may very well be the next country to legalise Bitcoin. The Central African Republic has unanimously adopted a bill to make bitcoin legal tender in the country. Holland 9. All started with the announcement from the CEO of Zap solutions, Jack Mallers, at the Bitcoin 2021 conference in Miami. Most countries still used traditional currencies, like the dollar, the rupee, or the pound, but this isn't the case everywhere. He claims that Bitcoin cannot serve as […] A number of nations have or will soon adopt some […] Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that the crypto community believes Paraguay is the next country to declare Bitcoin a legal tender, according to an ongoing CoinMarketCap survey. Ukraine is now following suit, which could mean the global economy's in for a mighty shake-up. Cryptos aren't legal here, and neither do the crypto exchanges. More countries are beginning to follow El Salvador's evolutionary Bitcoin legal tender implementation. More Countries Will Adopt Bitcoin as Legal Tender In this segment of "The Crypto Show" on Motley Fool Live, recorded on Feb. 2, Fool contributors Jon Quast, Travis Hoium, and Chris MacDonald discuss some recent news that Arizona and Texas could. This Country could be Next to implement Crypto Legal Tender. By the end of next year, at least five countries will have accepted bitcoin as legal tender, the CEO of cryptocurrency exchange Bitmex has predicted. Lawmakers in El Salvador made history on Tuesday when they voted to make Bitcoin legal tender, the first country in the world to recognise a cryptocurrency on such terms. As per the reports, the Central African Parliament bill was approved on April 21, 2022. In Panama, a neighboring country of El Salvador, there are also legislative initiatives to make Bitcoin legal. On September 7, El Salvador will become the first country to make Bitcoin legal tender. The announcement was made at Lugano's Plan B event, where the city's key figures discussed the implications of the . Life Panama is the second Central American country to make plans for bitcoin as legal tender after El Salvador celebrated "bitcoin day" earlier this week. Ukraine hasn't quite legalized cryptocurrency as legal tender, but it's taking steps in that direction. Making Bitcoin (BTC) as the legal tender has been quite a recent trend-focused by many countries all over the world. The survey, conducted among 4,912 US adults, also revealed that the younger generation has a more positive attitude towards Bitcoin. TI Weekly Research - Great Delivery Day . EN / ! The whole world watched when El Salvador made Bitcoin legal tender within the . The country officially made Bitcoin (CCC: BTC-USD) legal tender. He cited three key reasons why he arrived at this conclusion. Which country is next in line to adopt Bitcoin? Malaysia's deputy communications and multimedia minister Datuk Zahidi Zainul Abidin has said that the nation should adopt cryptocurrencies as legal tender to support the younger generation, the most active . El Salvador is the only country to make crypto legal tender. The news comes as payments in crypto in Argentina continue to increase as workers look to sidestep rampant inflation in the country's native currency. The whole world watched when El Salvador made Bitcoin legal tender within the country — but which country is next in this path of crypto adoption? The announcement was first reported by Forbes Monaco. The country made bitcoin legal tender in a splashy . It seems that developing countries around the world . Login / Register. The Swiss city of Lugano has announced today that it will recognize cryptocurrencies as legal tender. 10 Countries That Could Make Bitcoin Legal Tender in 2022 March 17, 2022 Adoption, Bitcoin, El Salvador, Government, Inflation, Latest, News, Regulation, Ukraine Adoption, Argentina, Bitcoin, Brazil, Economic collapse, Ecuador, Hyper-Bitcoinization, legal tender, Mexico, Nigeria, Russia, Switzerland, Ukraine, USA Bitcoin Thus, it becomes the first country to use the digital token as a legal tender. Show detail Posted in: Crypto Analysis Crypto Technology Crypto Research Crypto Business Crypto Top NFT Game Malaysia May Be the Next Country to Make Bitcoin Legal Tender A Malaysian government official on calls his country to adopt bitcoin and other cryptocurrencies, following El Salvador's lead. According to Michele Foletti, the mayor of the City of Lugano, Bitcoin (BTC), Tether (USDT), and Lugano's own LVGA Points token will be recognized as de-facto currencies. The country has purchased 400 bitcoins, or . Developing Countries Provide Huge Opportunities For Crypto. An interesting development from a political and regulatory standpoint. " Show detail. The African country of Zimbabwe is allegedly the next nation looking to make crypto legal tender. As of now prediction poll for three countries which you believe will make crypto legal tender next. Though crypto is becoming more widely used in countries all around the world, there aren't many places that have adopted it as a national tender. El Salvador Becomes First Country To Make Bitcoin Legal Tender. Published November 8, 2021 Updated November 8, 2021. The announcement was first reported by Forbes Monaco. Whatever happens, El Salvador will always be known as the first country to make bitcoin legal tender. Joe Biden signed a positive executive order on crypto to set up the current financial payment infrastructure. Panama Bitcoin is arguably the most beginner-friendly cryptocurrency, and the Central American nation of Panama has been making clear moves towards taking on Bitcoin as a national currency. BREAKING: The Central African Republic has unanimously passed a bill to make #Bitcoin legal […] But all countries save one have stopped short of adopting crypto as legal tender, instead only providing a regulatory framework for digital assets. Which Country Will Make Crypto Legal Tender Next? HIGHLIGHTS [ Hide] Cryptocurrency Legality by Country 1. Bitcoin was made legal tender in the country through the "Bitcoin Law", which was passed on 8 June 2021, and took effect on 7 September 2021. The government even went a step further in promoting the cryptocurrency's use by giving $30 in free . The African country of Zimbabwe is allegedly the next nation looking to make crypto legal tender. Russia Cryptocurrency is legal in the following countries June 25 is a special day in the crypto asset market. In fact, the country drafted legislation to make BTC legal tender just one day after El Salvador officially adopted the cryptocurrency. In April 2018, the EU Parliament voted to introduce tighter regulations for cryptocurrencies. Even though it was not ever illegal per se but still a legal approval from the government is always appreciated. The crypto exchanges continue to operate in South Korea but are regulated South Korean Financial Supervisory Service (FSS). Adoption is growing even more. Most Ukrainians are into Bitcoin or some other cryptocurrency which makes this step even better for them. https://ift.tt/bECj0WH Though crypto is becoming more widely used in countries all around the world, there aren't many places that have adopted it as a national tender. The very fact that many countries have already acknowledged Bitcoin as a legal tender suggests that phase 2 is on the horizon for many, which will likely involve the reversing of their recognition . has made a splash in global headlines by announcing on June 9 that the country would be the first to make bitcoin legal tender . The purchase price was $45-$48K and now Bitcoin is trading at $54K. France 5. Read More. Bitcoin was made legal tender in the country through the "Bitcoin Law", which was passed on 8 June 2021, and took effect on 7 September 2021. The news almost got lost in the market panic that preceded the legislation, as the cryptocurrency market endured a "flash crash". Bitcoin: Venezuela tipped to become next country to make crypto a national currency BITCOIN could become a national currency in Venezuela, Carol Alexander of Sussex University tells Express.co.uk. Most countries still used traditional currencies, like the dollar, the rupee, or the pound, but this isn't the case… A number of nations have or will soon adopt some … In Egypt, the country's leading Islamic legal advisory body, Dar al-Ifta, initially decreed that dealing in crypto was haram, or forbidden under Islamic law. The idea is to match private institutions with Argentinean . Though crypto is becoming more widely used in countries all around the world, there aren't many places that have adopted it as a national tender. Venezuela emerged second with 58,656 crypto enthusiasts betting on . Regulators have released a statement claiming that they are examining the prospects of allowing bitcoin and its altcoin cousins to be used as forms of payment for goods and services. . Coinmarketcap.com recently started with some diamond reward that you can collect daily, and earn for small tasks. Which Country Will Make Crypto Legal Tender Next?! This comes shortly after El Salvador has made Bitcoin legal tender. Rob. The Central African Republic has unanimously adopted a bill to make bitcoin legal tender in the country. Japan 2. When we look back, this event will seem like one of the biggest in the history of the financial world. In Sep. 2021, the country's parliament adopted a law legalizing and regulating cryptocurrency in a nearly unanimous vote. The Central African Republic has unanimously adopted a bill to make bitcoin legal tender in the country. ET that the Central American country . Over in Europe, Switzerland is known as one of the most zealous countries when it comes to cryptocurrencies. Most countries still used traditional currencies, like the dollar, the rupee, or the pound, but this isn't the case everywhere. To be clear, it is now law that Bitcoin is an official currency of El Salvador. Argentina has rolled out a so-called "innovation hub" to bolster fintech and cryptocurrency startups in a regulated manner. A number of nations have or will soon adopt some … [42] [43] One month on, more Salvadorans have bitcoin wallets than traditional bank accounts, and the most popular bitcoin wallet—the government's officially-sponsored Chivo wallet—had been downloaded . Shine Li November 24, 2021 In September 2021, El Salvador decided to take financial matters into its own hands. China: After banning cryptocurrencies, N number of times, China continues its futile attack on crypto. Quote from: Sithara007 on October 08, 2021, 03:46:04 AM. A deputy minister in Malaysia urged the government to adopt Bitcoin and cryptocurrencies as legal tender, per a report. Still, it is not a legal tender, but it not illegal too. The sharp […] Initially, the president of El Salvador, Nayib Bukele, had announced plans to make the virtual currency a legal tender during the Bitcoin 2021 conference in Miami. The regulatory environment also varies from one country to the next, with some nations delegating all crypto regulation to the EU and others taking a more hands-on approach. Though crypto is becoming more widely used in countries all around the world, there aren't many places that have adopted it as a national tender. Swap. There is a great number of issues debated today following the major news that El Salvador recognised the world's number one crypto, bitcoin (BTC), as legal tender - with legal experts noting this is a move of major relevance, but also one that may come with certain limitations, including those on equal/similar adoption in other countries. Support for making Bitcoin legal tender grows in Latin America 3 months ago 28 thg 6, 2021 — "It is a bill of digital assets and it differs from that of El Salvador because they are taking it as legal currency and in Paraguay it will be . The Central African Republic Has Passed a Bill to Make Bitcoin Legal. El Salvador made Bitcoin a legal tender and they are already reporting massive profits from the current spike. Usually, every . Bitcoin (BTC) and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move. El Salvador has become the first country in the world to officially classify Bitcoin as . Clearly, the nation is taking a page out of El Salvador's book. What Country is Next in Line to Adopt Bitcoin? The recent move by El Salvador to make bitcoin a legal tender alongside the dollar spurred some criticism worldwide, but mainly among mainstream media, such as the Financial Times and Wall Street Journal, and renowned financial institutions, including the International Monetary Fund (IMF) and the World Bank. The Central African Republic has unanimously adopted a bill to make bitcoin legal tender in the country. The bold step,. A number of countries have legalized crypto, with Ukraine being the latest. . Sooner or later Government will make statements but we have not gotten there yet, the consultative process is already underway," local news quoted Wekwete. Germany 4. The motion was passed and signed yesterday. A number of nations have or will soon adopt some […] The OG Crypto Legal Tender experiences success. [42] [43] One month on, more Salvadorans have bitcoin wallets than traditional bank accounts, and the most popular bitcoin wallet—the government's officially-sponsored Chivo wallet—had been downloaded . 3. What are the advantages of such a move? El-Salvador is the king of crypto-friendly countries, which adopted Bitcoin as legal tender in 2021 justifying no income or capital gain tax on Bitcoin. Malta 6. The country had received 81,433 votes as of July 20, 2021. El Salvador is beginning efforts to accept bitcoin as legal tender — making it the first ever sovereign nation to do so. In a heroic move to save El Salvador's economy, President Nayib Bukele officialized the adoption of Bitcoin as legal tender, creating a precedent for other countries to follow. BREAKING: The Central African Republic has unanimously passed a bill to make #Bitcoin legal […] If the other countries include Bitcoin in their forex reserves, then they will also benefit from it. In addition, CZ many times has supported the legal tender of cryptocurrency. Which Regions Have or Will Make Crypto a Legal Tender? Kim Grauer, director of research at Chainalysis believes that developing countries offer a "massive amount of entrepreneurial opportunity" for crypto companies. Check Out: 10 Numbers You Need To Know About Crypto . The country is making more concrete statements about its future position in the crypto world, as well. 9 that the country drafted legislation to make Bitcoin legal as which countries will make crypto legal tender next legal tender — making it the first to. 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