Cryptocurrency Regulation
Cryptocurrency is virtual or digital assets purchased with real money and traded on blockchain technology.
Cryptocurrency is an emerging asset class that's inconsistently regulated. Jurisdictions worldwide are making very different rules for crypto. Many crypto supporters advocate for more and better regulation.
Crypto regulation varies by country.
1.Countries Where Cryptocurrency is Regulated.
Usa
In united state America Securities and Exchange Commission(SEC) regulates crypto as security and Commodity Futures Trading Commission (CFTC) regulates crypto as commodities.
EU
In European Union Anti Money Laundering (AML) and KYC(Know Your Customer) regulates crypto.
Singapore
In Singapore Monetary Authority of Singapore (MAS) regulates crypto exchanges and service providers.
Japan
In Japan Financial Services Agency (FSA) regulates crypto exchanges.
2.Countries Where Cryptocurrency is Partially Regulated.
China
In China Crypto trading banned but crypto mining and blockchain development allowed
India
In India Crypto trading allowed but with restrictions and taxes.
3.Countries Where Cryptocurrency is Banned.
Some African and Asian Countries are banned cryptocurrency.
Question is Cryptocurrency regulate in Pakistan ?
Cryptocurrencies have been gaining popularity in Pakistan since 2015. However, in 2018, digital currencies were banned in Pakistan by the State Bank of Pakistan and the Federal Board of Revenue.
Global Efforts Regulation of Cryptocurrency.
1.G20 countries encourage international cooperation on crypto regulation.
2.Financial Action Task Force(FATF) sets global AML and KYC Standards.