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Regulation of cryptocurrencies

Cryptocurrencies have entered the mainstream, their popularity has exploded over the last few years. But, with governments beginning to react to this nascent industry, several key issues have emerged.

Regulatory changes are very important to cryptocurrency traders, as they can have a pronounced effect on coin valuations.

Governments have taken a wide range of approaches to regulate Cryptocurrency Exchange platform, even going so far as to define the assets in different ways. To date, digital currency regulation has mainly focused on:

1. Consumer protection

Protecting consumers has been the number one challenge for governments for two main reasons. Firstly, because cryptocurrencies have proven to be volatile and, secondly because they are designed to exist outside any form of centralized control, which means regulation can easily be ignored by anyone with an internet connection.

2. Taxation policy

One of the many questions that arise from allowing investments in and the use of cryptocurrencies is the issue of taxation. In this regard, the challenge appears to be how to categorize cryptocurrencies and the specific activities involving them for purposes of taxation. This has led to a divergence in the way cryptocurrencies are categorized for the purposes of taxation. This means that, depending on the jurisdiction and entity benefitting from any gain in value, cryptocurrencies can be subject to VAT, income tax, corporation tax, with a minority of jurisdictions even allowing the deduction of losses. The surveyed countries have categorized cryptocurrencies differently for tax purposes, as illustrated by the following examples:

Israel → taxed as an asset

Bulgaria → taxed as a financial asset

Switzerland → taxed as foreign currency

Argentina & Spain → subject to income tax

Denmark → subject to income tax and losses are deductible

United Kingdom: → corporations pay corporate tax, unincorporated businesses pay income tax, individuals pay capital gains tax

Countries that have regulated cryptocurrencies

Best cryptocurrency transactions are anonymous and can transcend borders, which can make it difficult to identify the original source of funds flowing into cryptocurrency networks or which country's regulations if this anonymity is changed it would highly have an effect on the prices.



The fact that the research by JPMorgan has shown that the majority of transactions are routed through exchanges registered in countries such as Malta News Time, Belize, and Seychelles. These exchanges could easily be moved if the regulatory landscape changed in these countries, suggesting such changes would have little effect. Binance, for example, moved from Hong Kong to Malta in response to regulatory changes.

As bitcoin is still the biggest coin by market cap, this is likely to give a rough indication of the volume of transactions originating in each economic region and, in turn, the areas where changes in regulation would be likely to have the biggest effect on prices.

Some of the countries and regions where cryptocurrencies are legal:


In Finland, Bitcoin is treated as a commodity and not as a currency.

In Belgium, the Federal Public Service of Finance has also made Bitcoin exempt from value-added tax (VAT).

In Cyprus, Bitcoin is neither controlled nor regulated.

In the U.K., Bitcoin is under certain tax regulations.

In Bulgaria, the National Revenue Agency (NRA) has brought Bitcoin under its existing tax laws.

In Germany, Bitcoin is considered legal but taxed differently depending upon whether the authorities are dealing with exchanges, miners, enterprises or users.

In Australia, Bitcoin is considered as a currency like any other and allows entities to trade, mine, or buy it.

In Canada, Bitcoin exchanges are considered to be money service businesses. It is viewed as a commodity by the Canada Revenue Agency (CRA).

In the United States, there's a generally positive stance toward Bitcoin, though several government agencies work to prevent or reduce Bitcoin used for illegal transactions.









Hey, I am Gabrielle working for IT from last 10 years. have a keen interest in cryptocurrency