How cryptocurrencies are regulated in different parts of the world – Economic, financial and business news

Investments in crypto assets tripled in the last year, with an exponential growth of investors and with new economic agents that began to act as exchange of the crypto market.

Crypto assets saw the light in 2008, but reached their peak in recent years, reaching a profitability never seen before: during 2020 they increased their profitability by 500%.

In this article we will make a comparison of how this phenomenon is regulated in the United States, Europe, Asia and Latin America.


While in the United States there is no federal legislation regulating the crypto phenomenon, some states have local regulations.

In June 2015, New York became the first American state to regulate virtual currency companies through regulation by state agencies. As of 2019, 32 states have enacted legislation that accepts or promotes the use of Bitcoin and the distributed ledger technology (DLT) blockchain, and several have already approved them. Some of these states have also established task forces to further study the use of technology.

in addition in 2017 crypto assets were given the same financial guarantees as traditional assets. The Federal Trade Commission (FTC) granted the operator of the cryptocurrency trading platform LedgerX approval to become the first clearinghouse and exchange of digital currency options federally regulated in the U.S.

Today the FTC is working hard on new regulations for the cryptocurrencies and 42 of the 50 states have regulated them.


The Unin Europea has started working on certain recommendations and regulatory frameworks for the crypto phenomenon through the Digital Finance Package.

Your goal is make financial services more digital and stimulating responsible innovation and competition among EU financial service providers.

The Digital Finance Strategy is accompanied by a proposed legal framework on cryptoactive (i.e. digital representations of securities or rights that can be stored and traded electronically). This framework is divided into a proposal for a Regulation on markets for cryptoactive (“MiCA”) and a proposal for a Regulation on a Market Infrastructure Pilot Scheme Based on Distributed Ledger Technology (“DLT Pilot Scheme”). The objective is drive innovation while preserving financial stability and protecting investors of the risks.

Likewise, an official legislation was recently presented to regulate it. On January 10, 2020, the EU enacted its fifth Anti-Money Laundering Directive (5AMLD), marking the first time cryptocurrencies and crypto service providers will be regulated.


Asian markets they have been stepping up regulations on crypto assets as they seek to strengthen the commercial market and attract institutional investors.

In the Asia Pacific region (APAC), a hotbed for trading crypto assets, the financial centers of the region, Singapore and Hong Kong, they have introduced new licensing laws with a prerequisite for obtaining regulatory approval before trading is allowed.

These requirements include a evaluation of exchange monitoring technologies being used, including market surveillance for the detection of market abuse behavior, in addition to the Know Your Customer (KYC), Anti-Money Laundering (AML) and Anti-Financing of Terrorism (CFT) directives. ) detection solutions that are typical for onboarding institutional clients.

In Singapore, the Monetary Authority of Singapore (MAS) issued guidelines stating that Initial Coin Offerings (ICO) basically resemble capital market products like securities, and will be regulated by the Securities and Futures Law.


Within the Latin American region, the regulation of fenmeno cripto It is still very new, and there is two countries that are at the forefront.

Mexico is the only country in the region that has regulated crypto assets through its Fintech Law..

It regulates 4 key points: virtual assets (such as digital currencies), the financial advisor, the collective funding (crowdfunding) and electronic payments.

Define: “It is considered virtual asset the representation of value electronically recorded and used among the public as means of payment for all kinds of legal acts and whose transfer can only be carried out through electronic means “

Colombia, while, works in a regulatory framework for financial intermediaries or exchanges through a Single Registry of Crypto Assets Exchange Platforms (RUPIC) which establishes the following requirements for those exchanges:

  1. Be domiciled in Colombia.
  2. Contemplate within its corporate purpose the exchange of crypto assets.
  3. Maintain a program of computer security to ensure that their systems are available and functional, that they will protect sensitive information from unauthorized use. An operations manual with this information must be submitted to the Ministry of Information Technology and Communications, as explained later.

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