Quote from: Squidley03 on August 08, 2019, 11:06:15 AM

As of late countries seem to be doing one of two things, either regulating crypto and making it less accessible like india or they're making it more easily accessible by adding special measures for crypto like tax waivers for people who earn crypto or spend in crypto. This surely will get more people involved in the industry and lead to a much wider adoption of crypto.
Recently "Singapores Inland Revenue Authority (IRAS) recently put forward a proposal to waive sales tax on goods or services paid for in cryptocurrency or similar digital assets. The proposal intends to help spur development within the local blockchain and cryptocurrency industry.

Existing tax laws have historically resulted in Singaporean residents being excluded from initial coin offerings (ICOs) launched in the country. Singapores goods and services tax (GST) means residents wanting to get involved in ICOs have to pay seven percent tax on their purchases. The cryptocurrency industry may have been around for over ten years, but as far as daily use cases go, its still in its infancy. For the industry to break into the mainstream, favorable policies need to be enacted to ensure everyday citizens can use digital assets constructively.

Overbearing taxes and strict regulation only serve to drive users away from adopting digital assets as a means of payment. The development of logical and clearly defined regulation is supported by innovative blockchain firms like Coinpayments, a payment gateway service that works hard to help enable retailers around the world to accept cryptocurrency payments. It recently formed a partnership with crypto directory startup Cryptwerk to provide a single resource that allows users to spend their crypto in 182 countries around the world."

Countries contributing in this manner should certainly contribute towards global adoption of cryptocurrencies

-source https://www.the-blockchain.com/2019/08/06/singapore-considers-tax-waiver-on-cryptocurrency-purchases-an-example-for-other-countries/

It's been 10 years in since Satoshi Nakamoto first gave us Bitcoin, and most governments are still trying to learn how to deal with it. By nature, government will have a very huge impact on adoption. By force of law, "fiat" as defined literally means, "because we say so". How much is a US dollar? A US dollar is worth so and so, because the US government says so - coupled with other market forces. So "acceptance" becomes a matter of "force of law". This is debatable of course, but absent this "force" factor, "adoption/acceptance" becomes an optional matter. By default most people will generally opt for the currency that is considered as "legal tender" for various legal and trading purposes.