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Regulation Of Cryptocurrency In Selected Jurisdictions

Regulation Of Cryptocurrency In Selected Jurisdictions Author: Library Of Congress

Date Published: 3:31:20 PM Thursday, 9-July-2020

This report summarizes the cryptocurrency policies and regulatory regimes in fourteen jurisdictions around the world. Among the key issues covered in the report are matters relating to the legality of cryptocurrency markets; the tax treatment of cryptocurrencies; and the applicability of anti-money laundering, anti-organized crime, and anti-terrorism-financing laws.In terms of the legal recognition of cryptocurrency markets, the jurisdictions included in this report may be categorized into two groups. In the first category are countries that permit cryptocurrency markets to operate, and within this group some countries (including Belarus, Gibraltar, Jersey, and Mexico) have been proactive in that they have enacted specific laws recognizing and regulating the cryptocurrency markets, while others (such as Brazil, Argentina, and France) allow the markets to exist but have yet to issue industry-specific laws. The second category of countries includes those that have taken steps to restrict the cryptocurrency markets, mainly by barring financial institutions within their borders from participating in them (China and Iran).