While Bitcoin (BTC) adoption and usage is rapidly expanding around the world, the number of countries accepting BTC is also rapidly decreasing.
At this point, a new report published by the Bitcoin Policy Institute revealed that 32 countries are working to officially adopt Bitcoin.
Thirty-two countries, representing approximately one-sixth of the world’s countries, are attempting to enact laws favorable to Bitcoin adoption, according to a report by the Bitcoin Policy Institute.
It was stated that this trend gained significant momentum following US President Donald Trump’s decree establishing the Strategic Research Organization (API) for the US National Bitcoin Reserve.
According to a report by the Bitcoin Policy Institute, 27 countries were found to have active Bitcoin positions, while 13 countries were found to have legislative proposals for BTC exposure.
The institute explained that its research mainly covers government and legislative activities related to allowing cryptocurrency investing, cryptocurrency mining, tax payments, and retirement investments.
Some countries, such as Argentina and the United Arab Emirates, are reportedly implementing multiple BTC strategies simultaneously, including state-backed mining and sovereign wealth fund investments in Bitcoin ETFs.
Ten countries, including Argentina, Bhutan, El Salvador, Ethiopia, North Korea, Russia, and the UAE, are reportedly mining Bitcoin through electricity supply agreements that allow for accumulation.
Seven countries, including the US, China, and the UK, hold Bitcoin through passive holdings, which include seized assets they choose not to sell.
Four countries accept Bitcoin tax payments across various jurisdictions. Panama City, the Swiss cantons, Dubai, and the state of Colorado all allow Bitcoin tax payments.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/new-bitcoin-btc-data-released-32-countries-are-next/
