As the regulatory picture for cryptocurrencies in the United States continues to , nations around the world are similarly grappling with the impact of crypto and the blockchain technology that underlies it.
Countries such as Thailand and the Philippines have been among the first to establish specific regulations governing initial coin offerings and cryptocurrency exchanges. Others, including Malta and South Korea, have established entities or created tax breaks to attract and support nascent blockchain companies. You can now obtain citizenship in a Caribbean nation using digital currency, while Iran and Venezuela both have national aspirations for currencies of their own. Still other countries, including India, China, and Vietnam, continue to ban or limit crypto.
The pace of change is so rapid, it can be hard to keep track. So here’s a country-by-country look at recent policy developments around the globe.
Antigua and Barbuda
The Caribbean nation recently voted through a program that funnels payments into a national development fund.
ICOs and cryptocurrency trading have been illegal since last year, and as recently as July government officials repeated warnings it will “” efforts to target Chinese investors. China also has in autonomous regions of the country.
As part of broader efforts to digitize government services, the city in the United Arab Emirates announced plans to to help verify and enforce cross-border court judgments.
A draft law to be considered by the Duma in the fall would . and possible offer tax exemptions on profits.
This nation is arguably the world’s third-largest crypto market, and its lawmakers are in the wake of two high-profile exchange security breaches in June. The government also includes blockchain as one of a number of emerging industries that will .
Regulators made good on ICO guidelines by in July. At the same time, blockchain companies are to encourage banks to provide financial services to crypto-related businesses following the decision by two major banks to stop doing so.
The U.K. Law Commission is proposing the as part of broader efforts to update British law. The U.K.’s finance minister also formed a task force to study cryptocurrencies.