Regulation of Cryptocurrency Around the World

[th3nolo]

Those countries declared cryptocurrencies Illegal will be the same ones that will be relegated out the future of this new financial system

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[Periodik]

I wonder what those gray-colored areas signify. Perhaps they are countries where cryptocurrency is neither legal nor illegal, or unheard of. Anyway, we can easily understand the implication of the picture. The green-colored part of the map is very dominating. That means cryptocurrency is very much vibrant in the world, with majority of the countries already accepting it. Only so few remain adamant against it.

[fortunecrypto]

I'm pretty sure three years from now, those countries that show red or Bitcoin is illegal, will making a big turn around and become apart of the big community, small countries follows big countries from what they are adopting, so expect a good improvement in three years time.

[Averim]

The map is very interesting, if you look carefully at it the major countries rejecting crypto are not so popular for freedom of speech or freedom ofthe press. I can only conclude that crypto means also freedom. Couple of days ago, Donald Trump sayed regarding crypto that if they want to be legal they should obey the law.

[dimox]

in my country, illegal to be currency but its no problem as asset. you cant make transaction use crypto, but you can have and trade it.
now, almost all country accepting bitcoin, it is just not all people know about it and it just famous in some people. but for some years later it will be gonna known in various circle

[NathanJB]

It is just a matter of time before the entire world map will be covered in complete green. There will always be early adopters, those are the countries that looked at and studied cryptocurrency, and what it could possible give as benefits to their countries, earlier than others. Those are the countries that accepted crypto for the sake of their people. They are the models from whom other countries will learn a lot.

[Vishnu.Reang]

It is just a matter of time before the entire world map will be covered in complete green. There will always be early adopters, those are the countries that looked at and studied cryptocurrency, and what it could possible give as benefits to their countries, earlier than others. Those are the countries that accepted crypto for the sake of their people. They are the models from whom other countries will learn a lot.

I am not very sure about it. During the past few months, an increasing number of countries have taken a hostile stance against the cryptocurrency and its users (examples are India, Iran, China.etc). There is no doubt that even at this stage, Bitcoin poses a real challenge for national currencies (especially the manipulated ones such as CNY and INR). So these governments may not be comfortable with the growing usage and acceptability.

[Leyss]

As we know, states treat cryptocurrency differently and evaluate its functionality. They will always be wary and even hostile to the impossibility of its control, decentralization, insecurity and high price volatility. Therefore, the states will never actively support the decentralized cryptocurrency, although they will allow its circulation. We need to be prepared for the fact that states will constantly regulate its circulation and such regulation will not always be good for holders of cryptocurrency.

[romero121]

There isn't much of regulatory compliance around the world. Very few countries have regulated the usage of cryptocurrency adding it to the list of commodities as well with gold and as other investments. Majority of the governments stand neutral making continued research for the need of cryptocurrencies while the same time very few countries look for reasons to ban the usage of cryptocurrencies. Hope someday everything will come under a single system believing and accepting cryptocurrency.

[Ozero]

As we know, states treat cryptocurrency differently and evaluate its functionality. They will always be wary and even hostile to the impossibility of its control, decentralization, insecurity and high price volatility. Therefore, the states will never actively support the decentralized cryptocurrency, although they will allow its circulation. We need to be prepared for the fact that states will constantly regulate its circulation and such regulation will not always be good for holders of cryptocurrency.

Right now, we are already approaching the regulation of cryptocurrency at the international level. On June 21, the Intergovernmental Organization for Financial Action (FATF) issued its recommendations to more than 200 states and obliged them to adopt their national laws within a year, which should stipulate that any person sending a transaction worth more than one thousand dollars will have to pass a KYC check, and if the transaction is worth more than $ 15,000, exchanges will be required to report the transaction to the appropriate government authorities.

[AjithBtc]

I see my country in the red area, but everything is not what you see. In my country before the enactment of crypto-related bans, my country had so many fraudulent projects created and that's why Crypto is banned. However, there are still many investors in my country who continue to invest in Crypto. There are many ways to safely invest in Crypto in the country when Crypto is banned.

Majority of the countries experience such a situation which is mostly due to the scam projects that make the public suffer. When this reaches the respective authorities it'll be an easy thing for them to indicate entire cryptocurrency as a flaw and restrict as well impose ban on usage. In my country government is in continued research whether it needs to be regulated or not. Until now there is no perfect ban for it.

[Jorge158]

I wonder what those gray-colored areas signify. Perhaps they are countries where cryptocurrency is neither legal nor illegal, or unheard of. Anyway, we can easily understand the implication of the picture. The green-colored part of the map is very dominating. That means cryptocurrency is very much vibrant in the world, with majority of the countries already accepting it. Only so few remain adamant against it.

Of course, cryptocurrency is gradually extending its wings across the globe. Even Africa is embracing it very well with all the technological limitations in some areas where internet connection is poor and others inaccessible. The few countries not accepting cryptocurrency now will retrace their statements against crypto some years to come and will even become great supporters of crypto.

[prix]

Right now, we are already approaching the regulation of cryptocurrency at the international level. On June 21, the Intergovernmental Organization for Financial Action (FATF) issued its recommendations to more than 200 states and obliged them to adopt their national laws within a year, which should stipulate that any person sending a transaction worth more than one thousand dollars will have to pass a KYC check, and if the transaction is worth more than $ 15,000, exchanges will be required to report the transaction to the appropriate government authorities.

And where does the information about 15,000 come from? I searched the original document and found nothing on this topic. It’s just very strict requirements. And I don't remember that in the same banking environment there were similar ones.
https://static.coindesk.com/wp-content/uploads/2019/06/Embargo-Virtual-Asset-Guidance.pdf

[yoseph]

I see my country in the red area, but everything is not what you see. In my country before the enactment of crypto-related bans, my country had so many fraudulent projects created and that's why Crypto is banned. However, there are still many investors in my country who continue to invest in Crypto. There are many ways to safely invest in Crypto in the country when Crypto is banned.

Fraudulent ICOs made to dupe people is one of the many reasons why most countries ended up deciding to ban cryptocurrencies forever, so that their citizens dont lose their money because at the end of it all, they end appealing to the government to help them retrieve their funds. I believe something like this recently happened in South Africa with a crypto ponzi scheme.

[jakoylantern]

Regulation of Cryptocurrency
Around the World

You can find a list of 130 countries in this document.

Regulation of Cryptocurrency
Around the World

For me, this picture is truly showing the acceptance and legality of cryptocurrency around the world. Now we can say the bitcoin is not illegal to those selected green once, and to those neutral countries, I'm sure their government is still doing their research about the possibility of accepting cryptocurrency and the economic change that will happen.

[micher143]

Bitcoin is starting to be legally implemented in majority of the countries, so I think that is a big step regarding the mass adoption of crypto, maybe 5-10 years form now the bitcoin will be adopted all over the world. Cryptocurrency will be our new mode of payment.

[sodiik]

I see that this crypto industry is able to attract the attention of many countries. Many countries know that Bitcoin can have many functions. In addition, Bitcoin in every country is capable of becoming a searching eye as well as work. Slowly I am convinced that Bitcoin will be mass adopted. The future looks very bright and it would be better if we support the industry by investing.

Many countries have made regulations about crypto. And in my opinion, another country should start utilizing this technology to open the job field. So the unemployment rate can be reduced.

[TrevorS]

The regulation of cryptocurrencies around the world has a very dubious status. After all, this process is only gaining momentum. Many countries do not know and sometimes do not understand what benefit or harm cryptocurrency can do, so they do not make any serious decisions. Each state in any case will create standards for regulating cryptocurrency in such a manner as it will be convenient for the state and not for people living in it. The regulation of cryptocurrencies should be above the state.

[Btcvilla]

Many country not have regulation about bitcoin and altcoin crypto, they look afraid with bitcoin how can stop money in bank for moving to bitcoin. Always make bad rule for bitcoin as payment in some country to keep bank exist and people never joining bitcoin as investment, other side bitcoin could increase your money than bank.

[cutesgirl]

Many country still not have regulation for bitcoin, just few country in Asia, Europe and America have allow and have regulation about bitcoin, in Brazil look have good regulation for bitcoin and in Asian country on Philippines have allowed for using bitcoin as digital payment transaction, what your country have allowed bitcoin or not?