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Digital Asset Legislation and Bitcoin (BTC) Regulatory Framework

Many countries around the world are gradually improving digital asset legislation to regulate the trading, holding, and tax issues of cryptocurrencies such as Bitcoin (BTC). For example, the European Union has passed the Markets in Crypto-Assets Regulation (MiCA), requiring exchanges to comply with anti-money laundering (AML) rules and enhance transparency; the United States has clarified the tax reporting obligations for cryptocurrencies through the Infrastructure Investment and Jobs Act, bringing assets like BTC under the regulation of 'brokers'. Some countries (like El Salvador) have designated BTC as legal tender, while others (like China) have prohibited it as a payment tool. Legislation typically focuses on investor protection, market stability, and financial crime prevention, but regulatory approaches vary across countries, leading to compliance complexities. In the future, the legal status of BTC may become clearer as legislation improves, but its decentralized nature continues to challenge traditional regulatory models.