Which countries use cryptocurrency as legal tender? The Central African Republic has become the second country in the world to adopt bitcoin as official currency, after El Salvador took the same step last year.
Is bitcoin trading legal in Iran? In 2018, Iran recognized cryptocurrency mining as a legal industry in order to monitor and regulate the mining farms that were already operating.
Are there crypto laws? Yes. The Anti-Money Laundering Act of 2020 codifies prior Financial Crimes Enforcement Network (FinCEN) guidance by making all transactions in “value that substitutes for currency” subject to reporting requirements and money transmitter registration; this definition includes digital currency.
Did you know blockchain storage can save up to 90% compared to cloud storage1? It uses the unused hard disk space of people all over the world. This new method is changing how we protect data. Blockchains are tough to hack2, making them super secure for storing data. They are great for keeping important info … Read more
Smart contracts came about over 20 years ago. They work on their own and are stored safely on blockchain technology. This has greatly cut down costs related to doing and enforcing deals, changing how smart contracts are seen worldwide1. Yet, whether these digital agreements are officially valid is complicated. It relies on basic agreement laws … Read more
Cryptocurrency is completely legal in 33 of the 60 countries we looked at. Meanwhile, 17 countries have partial bans and 10 have full bans1. This shows how different countries view crypto regulation in various ways. It’s key to keep up with these changes. Countries are updating their laws on taxes, anti-money laundering, consumer safety, and … Read more
Did you know that 78% of blockchain transactions run into legal or cross-border issues? These issues come from how blockchain and smart contracts work. We need smart ways to solve these disputes that don’t waste time or money1. With blockchain being global, it’s vital to solve disputes quickly and in a clear way. Welcome to … Read more
Did you know that just about 1.62 percent of U.S. crypto owners told the IRS about their crypto in 20221? With more than $2.4 trillion in assets and 16,000 kinds of cryptocurrencies, the tax stakes are high2. Since the IRS sees cryptocurrencies as property, buying, selling, or using them can lead to taxes2. It’s important … Read more
Did you know that 1 out of 7 reported scams involve imposter websites impersonating legitimate companies or projects1? It’s essential to be very careful to protect your money from scams. Victims have reported losing between $110 and over $130,000 in bitcoin due to such activities1. The DFPI tracker shows complaints about crypto fraud that need … Read more
Did you know the European Union can fine up to 35 million euros for major rule breaks? This huge sum shows how much rules affect new ideas and the balance between control and creativity1. Governments worldwide are setting tight rules. These can deeply affect how fast and how new tech grows—like in cryptocurrency and AI. … Read more
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