Five Countries Where Crypto Regulation Changed (The Most) In 2019

The previous year was very good for cryptocurrencies and cryptocurrency regulation in general. Knowing that regulations and governments are one of the impediments to the adoption of blockchain and crypto technologies, we can see that everything is changing fast. Today, we are listing the five countries where regulators went positive and developed new methods to regulate crypto.

China

The relationship between blockchain and China is strong – but the relationship between crypto and China is not that strong. This is one way to sum up the current regulatory attempts in one of the leading economies in the world. According to Steve Tsou who is the CEO of a BTC distribution and trading platform, 2019 has been a year of laying down the regulatory foundations for Chinese crypto.

“With over 1 billion population in China, this looks like the perfect testing ground to see mass adoption taking place. China is already the leader when it comes to mobile payments and creating their own dedicated cryptocurrency was the natural next step,” Tsou said.

France

France is second in our list of five countries which expanded their regulations. The land of high art and culture has been on the sidelines of blockchain regulations and integration. The blockchain news showed that the governor of the Bank of France changed that and announced that the institution is ready to launch a pilot project for a central bank digital currency (CBDC) in the first quarter of 2020.

Germany

In November this year, the German government passed a bill that allows banks to sell Bitcoin and other cryptocurrencies – and grant custody over them. The cryptonews at the time showed that the law is still being developed but we can see that Germany is leading the way of crypto regulation in Europe.

United States

The United States of America is a trendsetter when it comes to blockchain and cryptocurrency adoption and is hence in the five countries which developed new regulations this year. Even though it is still fragmented on regulation at the state level, the US is coming to terms with the need to adopt new technology as more state authorities are passing crypto-friendly laws. Wyoming is one of them, passing a bill and dividing digital assets in three main categories.

Iran

Last but not the least in our list of five countries pioneering the world of crypto regulation is Iran – a country which introduced new technology and became one of the main hubs for crypto and blockchain adoption. The government and citizens are increasingly turning to decentralized technology to escape the economic blockade.

Do you know any other countries which embraced new crypto laws in 2019? Let us know in the comments!