Title: An In-depth Look at Bitcoin Laws & Future Regulation
Headings: An In-depth Look at Bitcoin Laws & Future Regulation
An In-depth Look at Bitcoin Laws & Future Regulation
What are the concerns?
Current Approach to Regulation
USA
European Union
China
Tax
Future Approach

Content: An In-depth Look at Bitcoin Laws & Future Regulation
Education
An In-depth Look at Bitcoin Laws & Future Regulation
By Andrew Norry June 7, 2018
Bitcoin was founded on the principles of decentralization, meaning that the cryptocurrency was not regulated by the central authority in the way that a traditional (or fiat) currency would be. As Bitcoin, and the blockchain technology behind it, remains quite new and in the early stages of its evolution, authorities are still trying to get to grips with what exactly the technology is before attempting to come up with a plan about how to deal with it, especially in relation to taxation and money laundering issues. Currently, there is no uniform international approach to Bitcoin and its legality will depend on where in the world that you reside. However, as authorities gain more experience and knowledge about Bitcoin, and the cryptocurrency industry in general, it is likely that at least a certain minimum levels of regulation will come into place in the vast majority of countries. In addition, the huge gains being made by the cryptocurrency this year has meant that authorities are feeling that urgency about regulating the sector, with over 30 global regulators having announced various approaches to cryptocurrency regulation in recent months. What are the concerns? Contents [ Show]
1 What are the concerns? 2 Current Approach to Regulation
3 USA
4 European Union
5 China
6 Tax
7 Future Approach
Not long after its inception, Bitcoin had gained the attention of regulators as a result of its popularity amongst vendors and customers on the Dark Web, an area of the internet that was rife with illegal trade in items ranging from weaponry to illegal drugs. For example, the infamous Silk Road marketplace only accepted Bitcoin on its site in order to ensure anonymity for its customers. The infamy of Bitcoin, and the subsequent closing down of the marketplace by the FBI, to US Senator Charles Schumer explicitly referring to Bitcoin as a “surrogate currency” that enabled criminal activities.