Some countries banned crypto assets totally, some banned mining, some allows even paying taxes with it and some doesn't allow purchasing goods using crypto assets.
The Republic of Turkey has a strict ban against using crypto assets as a way of payment or developing technological infrastructure for such use case. However, it is perfectly legal for individuals and businesses to buy/sell/mine/trade the crypto assets.
What is the situation in other countries that you know of? And do you think the world will start accepting it or will regulate and see it only as a "store of value" and not a currency?
Right here in the Philippines, it’s neither legal or illegal.
Although our country is one of the friendliest in the crypto and blockchain space, the SEC Philippines is treating cryptocurrencies as securities and not as legal tender.
Unionbank of the Philippines are having their first-ever regulated crypto ATM, numerous licensed virtual currency echanges (VCEs), Philippine Stock Exchange and GCash are also gonna be serious in adding crypto trading, the tremendous growth of P2E blockchain NFT games that helped the Filipinos during the pandemic and so on are the positives of it.
However, we’re still having lack of regulation for now especially the tax side. For now, we’re doing fine here in the Philippines.