How Global Governments Are Approaching Cryptocurrency Regulation
Cryptocurrency is something that is very valuable for now, and the government also understands that we can't stop this technology, and they are always interested in regulating it. Regulators around the world know that lots of altcoins, bitcoin, and Ethereum are attracting people, so they are trying to balance innovation and financial stability.
There are multiple federal agencies, such as the IRS, CFTC, and SEC, and we have seen they are closely monitoring the ecosystem, and especially that the SEC and you know, according to the SEC, cryptocurrencies are, and the other side CFTC, believes it's a commodity. Now things are really improved under the Trump administration regarding cryptocurrency.
Here I want to mention the EU, which is teaching all the other countries how to regulate crypto without affecting its growth. There is a MiCA, and this firm focuses on user protection, the most important issue, anti-money laundering (AML), and not only these things, but stablecoin governance is under the MICA
So these are the USA and EU stance for crypto, but when it comes to asian countries, then countries like China, India, and more come under this, and you know cryptocurrency conditions are not good here. The Indian government wants to wipe out crypto; that's why they applied a 30% tax and GST on crypto withdrawals, and TDS is a bonus for them. Also, China is banning some cryptocurrencies.
So we have analyzed three countries above, and you can also see the condition of crypto. Overall, things are improving, and we have seen that every country will follow the footsteps of the United States. Share this post on social media such as X, Reddit, Medium, Instagram, and more. I am looking forward to seeing your comments below. Have a wonderful day. Thank you.
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