Legal Status of Cryptocurrencies

By djwestern | Legal Status of Cryptocurrency | 25 Feb 2021

Legality of Cryptocurrency Around the World

The Library of Congress has done an excellent job of providing a current snapshot of the legal status of cryptocurrency around the world. For a full report in PDF, go to this site: https://www.loc.gov/law/help/cryptocurrency/cryptocurrency-world-survey.pdf

Some countries like Pakistan are already considering more positive treatment of crypto, but for now the list of countries where there is an absolute ban on cryptocurrency can be found here: Countries with ban on cryptocurrency

A review of the regulatory framework for cryptocurrencies (applicability of tax laws, anti-money laundering etc.) can be found here: Regulatory Framework

Laws are constantly changing. If you would like me to provide more in-depth legal research relating to any country and its treatment of cryptocurrency, please let me know in the comments below.

DISCLAIMER: Nothing in the post should be considered legal advice. For advice regarding your personal issues in finance or cryptocurrency, please speak to an attorney with the proper background. This is for informational purposes only.

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djwestern

Retired Air Force judge advocate. Associate Dean for Administration at a wonderful law school. Trying to enter the realm of crypto. HODL!

Legal Status of Cryptocurrency

The growth of cryptocurrencies and decentralized finance has led to a plethora of regulatory and legislative reactions across national boundaries and in the international banking arena. Because these regulations are so diverse and the types of laws generated are so complex, this blog attempts to convey to its reader the importance of current and pending legislation that may impact all facets of cryptocurrency.