16/01/2024
As cryptocurrency usage increases, so too do cryptocurrency regulations around the world that are put in place to govern them. The crypto landscape is constantly evolving and keeping up to date with the rules in different global territories isn’t easy.
Learn how different nations approach coin and exchange regulation and if they have any upcoming legislation which could alter their approach to cryptocurrencies.
1. United States
Cryptocurrencies: Not considered legal tender
Cryptocurrency exchanges: Legal, regulation varies by state
2. Canada
Cryptocurrencies: Not legal tender
Cryptocurrency exchanges: Legal, required to register with FinTRAC after June 1, 2020
3. UK
Cryptocurrencies: Not legal tender
Cryptocurrency exchanges: Legal, registration requirements with FCA
4. Switzerland
Cryptocurrencies: Legal, accepted as payment in some contexts
Cryptocurrency exchanges: Legal, regulated by SFTA
5.The EU
Cryptocurrencies: Legal, member-states may not introduce their own cryptocurrencies
Cryptocurrency exchanges: Regulations vary by member-state
6. Australia
Cryptocurrencies: Legal, treated as property
Cryptocurrency exchanges: Legal, must register with AUSTRAC
7. Singapore
Cryptocurrencies: Not legal tender
Cryptocurrency exchanges: Legal, registration with the Monetary Authority of Singapore required