"Russian president Vladimir Putin believes that legislation laying out rules for the country’s cryptocurrency sector will be needed in the future.""This is the prerogative of the central bank at present and the central bank has sufficient authority so far. However, in broad terms, legislative regulation will be definitely required in future,” he said.
Will crypto oversight legislation be needed in every country?
Yes,it is needed or it will be implemented by every governments in future.The backbone of every government is that our taxes in crypto currencies there is no need to pay any taxes to them so there is no benefit for the country,mainly for the politicians.So they will regulate which means implement the necessary taxes which can give enough revenue for the governments.
Another reason for regulating crypto currency is to stop the illegal activities on their country because we can use crypto currencies for illegal activities with ease because of its anonymity.