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Cryptocurrency Regulation Around the World

Cryptocurrency Regulation Around the World


Trouble keeping up with the cryptocurrency and bitcoin news?  It's even more difficult to be clear on what governments are regulating worldwide on a country-by-country basis.  The existing gray area of where crypto exists in the financial system and lack of unison from nations have created this today's mixed global stance.

Here's a quick summary by country on regulations / perspective, from tight to light controls and policies:

> China - banned digital-asset exchanges and ICOs, removed online access to overseas trading platforms and blocked off power to Bitcoin miners;

> South Korea - currently passing a set of regulations, but exchanges still allowed to operate;

> India - consider cryptocurrency to be illegal tender and will implement regulations to reduce usage;

> Canada - ICOs (initial coin offerings) are seen as securities and warns of the high-risk of cryptocurrencies; 

> Brazil - banned investment funds from buying crypto since it doesn't consider this a true financial asset;

> European Union - upcoming regulation requiring exchanges that convert true currency to crypto, to have customer controls for identification verification;

> Germany - blocked trading sites that don't have required brokerage licenses; 

> Russia - proposed regulation to eliminate payments in crypto, but keep ICOs and exchanges running;

> US - no official plans for legislation proposed but there was detailed testimony presented in Congress last month (February) which may lead to changes by year end; 

As countries make aggressive moves against cryptocurrency and others standby and watch, 2018 will be a notable year with regulations that will either propel these digital assets to new levels or send them crashing down as the bubble bursts for crypto.

Full article at Bloomberg

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