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Feb 20, 2021

A Complete Guide to Global Cryptocurrency Regulations

Cryptocurrency is a global phenomenon, which also makes it a unique proposition for governments. Because crypto lacks backing by a central authority, different countries have different regulatory standards. These efforts, driven by their variability, have the potential to send crypto prices dramatically soaring or tumbling.

Here’s a snapshot of the current regulatory climate around the world.
 

Global Bodies

Global regulators view bitcoin as legal tender, depending on the country. There is no global regulatory body for cryptocurrency yet, but the recent G-20 summit saw leaders of central banks from the world’s 20 biggest economies discuss the topic, with plans for action items by this summer. The Financial Stability Board, a watchdog group who regulates the G-20 economies, said they remained open to digital currencies. “The FSB's initial assessment is that crypto-assets do not pose risks to global financial stability at this time," said board Chairman Mark Carney, pointing out that, even at their peak value at the end of 2017, “global market value [of cryptocurrencies] was less than one percent of global GDP.” While some figures have expressed concern for cryptocurrency’s ability to aid money laundering and covertly finance terrorist groups, it has not rejected it outright – rather, there have been calls for increased protections for investors.


 

Japan

Japan is the world’s biggest market for bitcoin, proclaiming it to be legal tender in April 2017. Exchanges are legal once registered with the Japanese Financial Services Agency, and half of bitcoin’s daily volume is traded in Japanese currency. They became the first country in the world to create and implement a system to regulate trading after a series of serious hacks. The Japanese continue to oversee trading where they feel appropriate, punishing or shutting down multiple exchanges after a $530 million theft from Coincheck and issuing warnings to prominent exchange Binance for operating in Japan without a license.
 

United States

Bitcoin is not considered legal tender in America. Treasury Secretary Steven Mnuchin has expressed reserve about crypto’s ability to assist criminals, but his concerns have done little to dampen enthusiasm among investors, who trade on exchanges that are legal depending on the state and handle the second largest volume of bitcoin worldwide, at 26%. Regulators are currently grappling with how to classify bitcoin and other cryptocurrencies. The SEC believes them to be securities that should be regulated as such, cracking down particularly hard on initial coin offerings. The CFTC classifies crypto as a commodity, while the IRS says it is not actually a currency.

 


 

European Union

While no member state can introduce its own cryptocurrency, exchanges are legal by country. Money laundering and other criminal activities remain a concern among government officials, and regulations differ from nation-to-nation. Regulators have been cracking down, with French regulator Autorite des Marches Financiers banning 15 exchanges in March. French officials have also revealed a joint plan with Germany to regulate cryptocurrency markets.
 

United Kingdom

The UK does not recognize Bitcoin as legal tender, but exchanges are legal if registered with the Financial Conduct Authority, while holds them to the stringent standards of traditional financial institutions. "The time has come to hold the crypto-asset ecosystem to the same standards as the rest of the financial system," said Mark Carney, who also governs the Bank of England. "Being part of the financial system brings enormous privileges, but with them great responsibilities."

South Korea

South Korea does not consider bitcoin to be legal tender, though exchanges are legal if registered with the Financial Services Commission. Trading with anonymous bank accounts, however, is prohibited. The country is a global hub for trading, but the regulatory climate is more mixed. The Korean government floated a shutdown of crypto exchanges in 2017 before backing off while reaffirming their commitment to acting against illegal and unfair trading behavior. More comprehensive regulatory offerings have been discussed but not finalized.
 

China

Bitcoin is not recognized as legal tender in China, and trading is illegal. The government banned ICOs in 2017 while shutting down all crypto exchanges in the country. Some banking officials have recommended banning trading all virtual currencies, as well as punishing the people and businesses that provide trading-related services. While there is no concrete action yet, crypto enthusiasts in the country have shifted their focus to mining and other activities – at least until the government steps in.
 

Singapore

Singapore may not view bitcoin as legal tender, but trading is legal, mostly regulated by the Monetary Authority of Singapore. The country is trying to position itself as crypto-friendly while also urging investors “to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies."

Switzerland

Switzerland is viewed as very crypto-friendly. Bitcoin is considered legal tender, and exchanges are legal if registered with the Swiss Financial Market Supervisory Authority. Zug, the town south of Zurich in what is called the country’s “Crypto Valley”, is home to the Ethereum Foundation and other crypto businesses. Regulators have issued strict guidelines for ICOs but remain open to them – four of the ten biggest proposed ICOs in the world have been in Switzerland.


 

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Related Ticker: BTC.X

BTC.X's RSI Indicator leaves overbought zone

The 10-day RSI Oscillator for BTC.X moved out of overbought territory on May 21, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 58 instances where the indicator moved out of the overbought zone. In of the 58 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on June 13, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BTC.X as a result. In of 140 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for BTC.X turned negative on June 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 57 similar instances when the indicator turned negative. In of the 57 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BTC.X broke above its upper Bollinger Band on June 04, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

BTC.X moved above its 50-day moving average on June 15, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for BTC.X crossed bullishly above the 50-day moving average on May 20, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in of 433 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 426 cases where BTC.X Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Market Cap

The average market capitalization across the group is 1.31T. The market cap for tickers in the group ranges from 1.31T to 1.31T. BTC.X holds the highest valuation in this group at 1.31T. The lowest valued company is BTC.X at 1.31T.

High and low price notable news

The average weekly price growth across all stocks in the group was -4%. For the same group, the average monthly price growth was 1%, and the average quarterly price growth was 55%. BTC.X experienced the highest price growth at -4%, while BTC.X experienced the biggest fall at -4%.

Volume

The average weekly volume growth across all stocks in the group was -1%. For the same stocks of the group, the average monthly volume growth was -55% and the average quarterly volume growth was -44%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
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BTC.XDaily Signal changed days agoGain/Loss if shorted
 
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