#CryptoRegulation Crypto regulations vary significantly around the world, with different countries taking unique approaches to managing digital currencies.

Global Regulatory Framework

The Financial Stability Board (FSB) has developed a global regulatory framework for crypto-asset activities, emphasizing "same activity, same risk, same regulation." This framework aims to ensure consistent and comprehensive regulation, addressing risks to financial stability .

Regional Regulations

United States :No specific legislation dedicated to crypto assets.

Multi-agency approach: SEC governs crypto-related securities, IRS regulates taxation, and FinCEN oversees anti-money laundering.

Cryptocurrencies are viewed as property for tax purposes.

European Union

Markets in Crypto-Assets Regulation (MiCA) provides comprehensive guidance on crypto service providers and issuers.

Anti-Money Laundering Directives require stakeholders to report suspicious activities

Taxation determined on a member-state level.

Asia

Japan: Recognizes crypto assets as a payment currency, with strict rules on customer information sharing and taxes

China : Strictly bans crypto trading, mining, and exchanges

India : Heavily taxes crypto, with a 30% capital gains tax and 1% withholding tax.

South Korea : Progressing with regulation, including guidelines for listing virtual assets.

Other Countries

Brazil : Instated cryptocurrency regulation in June 2023, with a central bank supervisor for crypto assets.

England : Mandates authorization for digital currency companies, with proposed regulations for stablecoins.

Canada: Treats crypto assets as commodities, with capital gains taxes and anti-money laundering regulations.

Australia: Views cryptocurrencies as legal property, with taxes and anti-money laundering regulations.