Legality of Cryptocurrency
As the market capitalization of the cryptocurrency market rises, through price movements and an increase in new tokens, regulators around the world are stepping into the use and trading of digital assets.
It affects all cryptocurrency, especially Bitcoin, given its leadership in the market and its integration in the global start-up eco-system.
Only a few countries have gone as far as to declare bitcoin illegal. That does not, however, mean that bitcoin is "legal tender" – so now, only Japan has gone as far as to give bitcoin the approval. However, just because something isn't legal tender, does not mean that it cannot be used for payment – it just says that there are no legal protections for both the consumer or the merchant, and that its use as a payment method is entirely discretionary.
Other countries are still thinking about what to do. The approaches vary: some smaller nations like Zimbabwe have little scruples in making Saracens statement given by doubts about the legality of Bitcoin. Prestigious institutions such as the European Commission, recognize the need for dialogue and reflection, while the European Central Bank (ECB) considers that Cryptocurrencies are not yet mature enough to control (with Bitcoin almost ten years) know that reached sufficient maturity). In the United States, the problem is further complicated by the regulatory fragmentation folder - that the legislation, the federal government or Individual states?
The related problem in other countries, in which there is still no clear answer, is: whether the central bank followed closely cryptocurrencies or financial regulators? In some states, they are the same, but in more developed countries they are separate institutions with different functions
LEGALITY OF CRYPTOCURRENCY BY COUNTRY
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