It is very possible that you have heard or read about a few countries which have shown interest in using bitcoin and at the same time taking the first steps officially.
But I personally consider Japan as perfect example of doing exactly what it has said regarding cryptocurrency.
But lets go back to a few years ago when a an important Japan’s company dealing with bitcoin went bankrupt and the government had to intervene.
Since then I believe the Japanese government has learnt its lesson and for second time around created an official road map and asked for serious participation of their citizens.
As a result, since a few mounts ago they have made a step by step progress which has led to participation of private sector and different companies, stores and local governments.
There are some local governments which have created an special donation wallet for maintaining their public places such as parks and libraries.
The tourism sector is getting involved and also some airlines have started to accept bitcoin.
The central government has encouraged their retired citizens to invest an small part of their pensions as their banking system nearly does not pay any interests for their fiat money deposit accounts.
Some exchangers even sell bitcoin without any charge if they pay directly with their fiat money and the central government does not charge any taxes on bitcoin.
I honestly don’t know of any country which has covered so many areas in such a short time.
China: Is considered to have 70 to 80% of existing bitcoin and after the intervention of their central bank, it seems that they have got their acts together in some areas.
- The major mining companies have started to make an agreement with electrical companies for cheap electricity by making them a partner in part of their profit.
- A few months ago the China’s bitcoin community agreed to follow the Segwit2x.
- China’s exchangers now have more flexibility than before as their central bank and bitcoin community have stated.
Russia: is taking the same steps as Japan’s government. But their internal economic problems does not allow clarity and comment understanding of using bitcoin.
The central government however hopes to be able to take out number of rules and regulations so that it can receive taxes.
India: A few months ago the Indian government banned the usage of their large notes and as a result people turned to gold, silver and cryptocurrence.
There was a time (a month or two ago) that people were paying even $100 more than asking price and some of the important international exchagers had their best record established by selling bitcoin in that time.
Now, the central government is seriously going to take some actions and it is said that they are going to follow Japanese plans.
South Korea: is seriously considered to follow Japan’s footsteps and recently there has been some progress between public and private sectors.
Venezuela: with fiat money inflation so high the population has started nearly a year ago to turn to cryptocurrencies such as bitcoin.
Unfortunately there many restrictions and for time being it is considered illegal but the central government is trying to take control.
It is considered unofficially that cryptocurrency mining has grown in Venezuela more than any country in South America in the past a few months.