We've got so much FUD in the news today but in all of this negativity we have a few positive outcomes as well. Many countries are banning cryptocurrencies, ICOs, and trading platforms. However, there are a few countries that are welcoming mainstream use of these virtual assets.
Australia
Recently, Brisbane Airport-the largest airport in Australia will become the world's first aviation hub to accept Bitcoin and few select alt-coins. According to the report on Telegraph, they are likely to accept alt-coins such as Litecoin, Dash, Ethereum as well as Steem. Steem for payments? Sounds unbelievable at this early stage but I would be happy to see that happen.
Brisbane airport seems to have tied up with TravelbyBit Australia- a tourism company to enable these new payment methods. This move will allow travellers to pay for airport shops, bars and restaurants using cryptocurrencies.
This is amazing on part of the government in Australia to allow their citizens and tourists to pay for goods using virtual money.
Japan
Japanese has pioneered legitimate use of cryptocurrencies such as Bitcoin and made it a legal tender. This means that you can purchase items at nearly 300,000 retailers across Japan or whoever else in the country that accepts it. This move has been hailed by cryptocurrency enthusiasts world over as Japanese government is often considered to be conservative.
But their willingness to open their market to facilitating greater use of virtual money has made the world sit up and take notice. Japan is likely to continue regulating this market but hopefully it will remain competitive enough for everyone to continue participating.
These virtual currencies are very popular amongst the Japanese youth owing to the substantial returns they generate in short periods of time. Hopefully, Japanese exchanges will maintain higher levels of security to prevent further hacks of their users' money.
Belarus
This is one of the coolest news I've come across recent time. Belarus government legalises cryptocurrency in their country to boost foreign investment. Belarus underwent a recession in 2015 and 2016. This move is likely to boost their economy in the long run if many people decide to invest into blockchain businesses operating out of Belarus.
Most state owned companies are loss making with little to no reform in a long time. Legalising Bitcoin and cryptocurrency gives their citizens newer opportunities in trade and commerce.
If only most governments thought of it, regulated their markets and made it easier and safer for their citizens to trade then this whole market would've seen a greater rate of adoption.
Belarus government has legalised, cryptocurrency trading, ICOs and transactions in cryptocurrencies and made the trades tax-free for 5 years. This is an incredible move from the government and I sincerely hope bigger governments across the world will move towards this effect in the future.
Indian government is expected to come out with some kind of basic framework for cryptocurrencies later in the year. I hope they do a good job out of it. As for China, I feel bad for their citizens who aren't able to exercise their right to use their money in the ways they want to. I hope no other government follows suit and does something radical as banning access to this industry completely.
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