Trying to fully understand the world of cryptocurrencies was difficult before governments involved in the matter; Now, that politicians and legislators want to elaborate regulations to control the ecosystem, it is even worse.
Things are still so confusing that in one country the rules may vary from one state to another, from one region or city to another, which shows the absence of local coordination, and also global coordination of the authorities.
While things continue to take shape, in broad strokes many of the countries of the world have taken their initial position with respect to the crypts, and just as each nation is part of the mosaic, diversity is the norm with respect to regulation and matters related to digital money
This region leads the world trade in cryptocurrencies, where the "country of the Rising Sun", Japan, plays a key role, after having introduced a licensing system for exchanges of cryptoactives last year.
In Hong Kong, regulators have decided not to get too involved in the issue, while warning exchanges not to negotiate anything that resembles, or that is classified as "value" without authorization.
In Singapore, his deputy prime minister has referred to cryptocurrencies as a "start," noting that there is still no strong case to justify a ban. On the other hand, in Taiwan the authorities prefer to "wait and see", and in the Philippines they hope to have ready the regulations for the initial offers of currencies later this year.
China, which was the global epicenter of the cryptocurrency trade, is its worst enemy: it has closed exchanges, banned ICOs, blocked Internet access to foreign trading platforms, and also eliminated access to electric power for miners. crypts.
South Korea, which experienced a significant increase in cryptocurrency activity last year, is conducting more diligent monitoring, while preparing the respective regulation, however, has allowed exchanges to continue to work so far.
India has followed in China's footsteps; The government has declared it unnecessary for virtual currencies to have the status of legal tender and will take measures to stop their adoption.