RATE Group | Cryptocurrency Regulations Around The World
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Cryptocurrency Regulations Around The World

23 Sep Cryptocurrency Regulations Around The World

Posted at 11:01h in Cryptocurrency News by

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As the trading of cryptocurrency has become very popular all around the world, there are some regulations that have been put in place as so to govern them and protect the traders from being misguided. Below are some of the regulations that have been put to guide the exchange of cryptocurrencies across the world.

In the United States, Cryptocurrencies are not considered as a legal tender since 2013 and the exchanges have been considered as money transmitters. The IRS considers it as property and has tax guidance for it. The regulation is different from state to state.
The Securities and Exchange Commission (SEC) has also indicated that it considers cryptocurrencies to be securities and that it was looking to apply securities laws comprehensively for cryptocurrencies.

In Canada the Cryptocurrencies are not also considered as legal tenders but the exchanges are legal, varying from province to province. The Canada Revenue Agency taxes them. The regulations are also…

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