How are you all? Today I will be discussing cryptocurrency regulation worldwide.  I am young and have very little experience so please excuse any mistakes.

[Source](https://www.pexels.com/photo/close-up-shot-of-two-people-holding-a-gold-coin-8370753/)

  Cryptocurrency's rise from speculative investment to a new asset class has prompted governments around the world to explore ways to regulate it.  As of January 2024, some governments have put in place frameworks to protect users, while others are biding their time.
  United States
  The US announced a new framework in 2022 that opens the door to further regulation.  The new guidelines transfer powers to existing market regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
  The SEC already regulates the sector, demonstrated by the long list of filings against crypto-centric businesses and projects, such as lawsuits and complaints against Ripple, Coinbase (COIN), Binance (BNB) and many others over their crypto products and services.
  China
  The People's Bank of China (PBOC) has banned crypto enterprises from operating in the country, saying they offer public financing facilities without approval.
Furthermore, China imposed a ban on Bitcoin mining in May 2021, forcing many involved in the activity to cease operations altogether or relocate to jurisdictions with a more favorable regulatory environment.  And in September 2021, cryptocurrency was completely banned.


[Source](https://www.pexels.com/photo/a-man-looking-at-a-coin-through-a-magnifying-glass-8370746/)

  Canada:
  Although crypto is not considered legal tender in Canada, the country has been more proactive than others regarding crypto regulation.  Canada is the first country to approve bitcoin exchange-traded funds (ETFs) with multiple trading on the Toronto Stock Exchange.
  In the case of crypto trading platforms, the Canadian Securities Administrator (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) require crypto trading platforms and dealers to register with the country's provincial regulators.
  Canada classifies all crypto investment firms as money services businesses (MSBs) and requires them to register with the Financial Transactions and Reporting Analysis Center of Canada (FINTRAC).  From a tax perspective, Canada treats cryptocurrency like any other commodity
  United Kingdom:
  In October 2022, the House of Commons of the British Parliament recognized crypto assets as regulated financial instruments.  The Financial Services and Markets Bill became an Act (Act) in June 2023 and expands existing laws relating to all crypto assets, services and providers.
  Today's discussion ends here.  I hope you find it interesting and understandable.  Share your thoughts on today's topic.  Greetings and blessings to all.  Stay well everyone, stay healthy, stay tuned to Steemit.