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In order to keep verification costs low, block space is scarce. As such, it should be expensive for anyone to consume a lot of block space. An important principle here is to encourage spending (consuming) UTXOs, and discourage creation of UTXOs. This principle may change if UTXO bloat ceases to be a concern due to UTXO accumulators.converter bitcoin bitcoin source надежность bitcoin 4000 bitcoin криптовалюту bitcoin bitcoin алгоритм iso bitcoin ethereum игра bitcoin scripting
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The top concerns for most countries pertaining the Bitcoin legislation are the possibility of using it in criminal ways, its influence on the national currency and taxation issue.
There are three destinations where the most venture capital flow is registered: US, Canada and China.
The steps taken towards the Bitcoin legalization in each country are presented in the bullets.
United States
positive approach towards Bitcoin cryptocurrency
Bitcoin is not recognized as a currency but a money service business (MSB)
Digital Currency money service business are obliged to reporting, registration, and record keeping
The first country to set the regulated Bitcoin exchange, Coinable
ItBit, Bitcoin exchange has received first banking license from New York State’s Department of Financial Services
Canada
positive approach towards Bitcoin cryptocurrency
Bitcoin is recognized as a commodity
Bitcoin exchanges are MSB which are going under AML laws
Bitcoin exchanges have to register with FINTRAC
China
the biggest scale of Bitcoin market
only individuals are obliged to make bitcoin transactions
bitcoin transactions are barred for every financial institute and payment company
Germany
have an advanced Bitcoin regulation framework
Bitcoin is not recognized as an official currency but a form of private money
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