How Crypto Regulations are Changing Around the World

While cryptocurrency adoption is on the rise, one major issue abounds in regulatory uncertainty that surrounds cryptocurrency worldwide, plaguing many outfits that employ cryptocurrency. The rise in crypto adoption is no more obvious than with the apex crypto, Bitcoin, which has outgrown its initial payment settlement roles popular in local and online stores, online crypto games with blackjack Bitcoin as an example, popular for its convenience, anonymity, and transparency, to an investment driver and instrument on crypto wallet and exchanges and very recently on traditional exchanges with the introduction of Bitcoin ETFs.

Bitcoin ETFs have recently been introduced on traditional exchanges

It might be a while before crypto regulatory agencies sing the same tune. Still, until then it has become certain that Bitcoin and other cryptocurrencies have found use in several industries and need to be accommodated. These accommodations have come in the form of regulatory changes, many of which this article aims to explore.

Different Regions and their take on cryptocurrency regulation

The following are different regulatory approaches by some of the biggest players in the world. It explores their current regulatory climate and a foray into the future.

“The rise of cryptocurrency has led to a surge in regulatory activity around the world.” [1]

Regulatory activity around the world

United States

The United States has been at the forefront of cryptocurrency regulation. The Securities and Exchange Commission (SEC) has been actively involved in regulating initial coin offerings (ICOs) and has taken action against several companies for violating securities laws.

Europe

The European Union has taken a more nuanced approach to cryptocurrency regulation. The EU has established a task force to examine the potential risks and benefits of cryptocurrency and has proposed several regulations to govern its use.

Asia

Asia has been a hotbed of cryptocurrency activity, with several countries in the region taking different approaches to regulation. China has banned cryptocurrency trading, while Japan has established a regulatory framework for cryptocurrency exchanges.

Cryptocurrency exchanges in Japan

Conclusion

The regulatory landscape for cryptocurrency is constantly evolving. As the use of cryptocurrency continues to grow, it is likely that regulatory agencies will continue to play a major role in shaping the industry.

Cryptocurrency regulation around the world