HMMM.. Cryptocurrencies: State positions on regulation

Cryptocurrencies in the world
The G20 summit is an important meeting that could say something more about the future of cryptocurrencies. That is why it is worth highlighting the current position of the world countries regarding cryptocurrencies. The following graphic shows what the state of law looks like and its severity towards virtual currencies:

Asia
Japan is the leader in terms of regulation because it introduced licensing of cryptoclosure exchanges, which also introduced the Philippines. Hong Kong closely follows the market and warns the stock market against excessive trade. Taiwan introduced the ICO regulations as the only country. South Korea, which last year became a mainstay of cryptocurrencies, also tightens surveillance, because it is working on a comprehensive set of rules, although it allows the existing activity of exchanging cryptocurrencies, otherwise it was in the case of Initial Coin Offering. In India, where cryptomania was relatively weak, the government said it did not consider digital currencies as legal tender and would take measures to limit their use. China blocked ICO, cryptocurrencies, cryptoclash exchanges.

Both Americas
The US has regulated the ICO issues, just like Canada, which has already recognized them as securities. Brazil for this has banned all investment funds investing in virtual currencies.

Europe
The UK and its parliamentary committee are wondering how to control digital currencies. The European Securities and Markets Authority, which coordinates standards in all EU Member States, has put forward proposals for restrictions on derivatives linked to virtual currencies for retail investors. Germany drew the consequences on the stock exchanges that did not have a license to perform brokerage services and France issued appropriate recommendations regarding the operation of cryptoclosure exchanges. Russia has many ideas for cryptocurrencies including its own state, but in January a draft law banning cryptocurrency payments and permission to operate ICOs and exchange of cryptocurrencies for FIAT currencies appeared.

Afryka
RPA i jego organy nie nadzorują podmiotów z tego rynku ale bada ciągle „odpowiednie ramy polityczne i reżim regulacyjny”. Nigeria nie posiada żadnych przepisów ale bank centralny uważa wirtualne waluty jako hazard i może to się zmienić. Kenia również nie wytworzyła rozwiązań, jedynie ostrzegając przed inwestycjami (jeden z krajów afrykańskich o największym obrocie). Zimbabwe jako kraj sporej inflacji oceniła waluty cyfrowe jako środek „prania pieniędzy, finansowania terroryzmu, unikania opodatkowania i oszustw”.

Jak widać coraz więcej krajów się interesuje tematem i dlatego w przyszłości będziemy informować o nowych stanowiskach innych krajów jak i tu wymienionych.