In most countries of the world, cryptocurrencies are not prohibited, but regulatory legislation is often absent. This means that you can freely buy, sell, use as a means of payment, become a client of cryptocurrency exchanges, funds and companies.
Regulation of Bitcoin and cryptocurrency in the United States is complicated. SEC, IRS and CFTF have a serious divergence of views: the Securities and Exchange Commission (SEC) has not approved the trade in cryptoactive assets. At the same time, the Commodity and Futures Trading Commission (CFTC) took Bitcoin to commodities and even licensed Bitcoin futures on CBOE and CME and GDAX and GEMINI exchanges
In China, Bitcoin turnover is illegal, like other cryptocurrencies. This is explained by the policy of protectionism in order to protect the interests of Chinese Internet giants. The prohibition of Bitcoin and cryptocurrency caused the exchanges to close and a prohibition of ICO in the country. Cryptocurrency exchanges and companies moved to Hong Kong and other jurisdictions.
Among other countries of the world, rumors about the prohibition of cryptocurrency touched South Korea. It’s just as powerful market full of tech specialists with affordable labor and electricity as China. While the decision to ban is not made, the situation with cryptocurrencies in the country is still well.
Japan has become a more prosperous region of Asia, where cryptocurrencies are not only not prohibited, but also regulated by law. Digital currencies are recognized as legal payment method and financial assets. The government licenses exchanges and checks for compliance with KYC requirements.
In Estonia, cryptocurrency companies necessarily control for compliance with the requirements of KYC and AML, and tokens are treated as securities.
In the Czech Republic, crypto exchanges are obliged to disclose the identity of clients under the law of the Ministry of Finance on combating money laundering.
In Croatia, the regulation of cryptocurrency is absent. Cryptoactive assets can be used legally, but they are subject to capital gains tax, although there are no specific official instructions on how to charge and pay.