FAQ: Regulations Archives - CryptoCurrency Complete Guide

Where is cryptocurrency legal?

matt peperman — Fri, 11 Jan 2019 20:08:09 +0000

A better question might be “where is cryptocurrency NOT legal”.

Cryptocurrency is legal in most countries and only banned in a few. Some examples of countries which have banned cryptocurrency are China, India, Russia, Vietnam, Bolivia, Ecuador, and a few others. Some of these bans may only be temporary as these countries reevaluate their position on the subject.

Most other countries allow cryptocurrency with no limitations or at least have some government imposed regulations.

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When will cryptocurrency be regulated?

matt peperman — Thu, 10 Jan 2019 23:17:55 +0000

Many cryptocurrency coins and exchanges are already regulated. Regulations vary by state and country and there is no uniform regulation of cryptocurrency. You can be sure that they will become even more regulated as they become more widely used. Some existing regulations consist of an outright ban on usage of cryptocurrency in a few countries, but this is rare. As an aside, some people consider regulation to be a good thing because a cryptocurrency market that is effectively regulated (and not strangled). Regulation could translate into the following positive outcomes for cryptocurrencies:

A decrease in price volatility.
A decrease in cryptocurrency fraud.
An increase in consumer and institution usage.
An increase in the price of cryptocurrency.

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Is cryptocurrency legal?

junryan — Mon, 08 Oct 2018 07:07:30 +0000

The legality of cryptocurrency depends largely on the country in which it is bought, sold and/or used. That is, not all countries or governments recognize cryptocurrency as a legal tender. A very limited number of countries have completely banned cryptocurrency. In the extreme case, counties such as China, even try to control their citizens who transact with cryptocurrencies while they are abroad. However, this is a quickly and ever-changing situation as countries continue to investigate the technology and update their rules and regulations. Most counties consider cryptocurrency legal, or they have made no decision at all yet (so it is not illegal).

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Are cryptocurrency logos copyrighted?

junryan — Mon, 08 Oct 2018 07:03:06 +0000

Each unique cryptocurrency logo will have its own answer to this question. But here are some examples: The original unaltered bitcoin logo is free of copyright. There are also many variants of the original that are also free. Other related alt-coins based on bitcoin may have copyrighted their own version of the original logo. And in fact, anyone can copyright their own altered version of the original bitcoin logo if it is sufficiently different from that original. Other cryptocurrencies do have specific guidelines, such as Ripple’s logo usage guidelines here. The Ethereum logo usage guidelines can be found here.
For any other cryptocurrency logos, you will have to do your own digging.

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Are cryptocurrency legal in India?

junryan — Mon, 08 Oct 2018 07:02:17 +0000

In early 2018 India’s central bank, RBI, declared a ban on the sale or purchase of cryptocurrency via a bank account. The bank also stated that cryptocurrencies are not to be considered legal tender – so that means it is illegal to buy, sell or even use cryptocurrencies in India. This was announced in April of 2018 and went into effect in July 2018. But even given that, Unocoin exchange’s ATM machines in India are operational and get around the law by only accepting cash deposits and withdrawals. They are working on the theory that the RBI ban only applies to entities governed by RBI, since as brick-and-mortar banks. You can’t link your bank account to these ATMs. Note that, as with every country, these types of regulations are often in flux and India could relax or eliminate their ban in the future.

Latest news on cryptocurrency regulation can be found here.

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Are cryptocurrency exchanges regulated?

junryan — Mon, 08 Oct 2018 06:55:36 +0000

There are no standard cryptocurrency exchange regulations that apply across the globe. Instead, the regulatory implications are on a per country basis. The regulations in some countries are cryptocurrency-friendly while in some other countries the regulations are very strict. In some countries, such as Slovakia, there are no state regulations on cryptocurrency exchanges. In other countries, like the USA, the exchanges are regulated by both the federal and state governments.

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Can cryptocurrency be regulated?

junryan — Mon, 08 Oct 2018 06:36:47 +0000

Yes, cryptocurrency can be regulated. As digital currencies are gaining popularity and increased acceptance, governments are investigating how to regulate them if they have not done so already. The existing regulations differ from one country to another. Currently, most existing regulations are related to the exchanges where the currencies are bought and sold rather than regulating the use of the currency.

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