The struggle of states with crypto-currencies. Main trends

04.06.18 в 10:20 Interesting 12043

The emergence of crypto-currencies and their rapid growth in 2016-2017 forced the official authorities of states to pay attention to a new phenomenon. There were many questions to the new type of currency, which is objectively connected with the incomprehensible nature of this "phenomenon", which does not fall unequivocally under certain terms (they can not be called fully commodities or money due to the failure of all their inherent functions to fulfill simultaneously). Until now, a single global strategy on crypto-currencies has not been worked out, but the overall reaction is rather negative. The latter is due to the inability to fully control such money, the risk of using crypto currency people for criminal purposes, taxation problems and so on.

From prison to closing eyes on the phenomenon

Today, the states themselves determine the measures to struggle against crypto currency at the state level, so the range of violations is very wide. Leaders in the rigidity of steel Algeria, Bangladesh, Nepal and Bolivia, where an operation using bitcoin or its analogue can be sent to prison. Interestingly, relatively close to the latter in Venezuela, where Petro's crypto currency is officially launched and used. In other cases, the situation is more complicated, so try to understand more deeply, pointing out the most characteristic moments and key world regions.


Local authorities have become the main suppliers of news, from which the market of crypto-currency has seriously fevered. Today, in China, the advertising of bitcoin and its counterparts, the conduct of ICO, the purchase and sale of crypto-currency by individuals are prohibited. At the same time, such restrictions are avoided by the launch of hard-wars and trade on popular foreign sites.

Another direction in the fight against the crypt was the offensive against the miners. In some months, China accounted for up to 80% of the production of bitcoins, which is due to the low cost of electricity. Many people associate such actions on the part of Beijing with the desire to develop a national crypto currency, but today there are a lot of questions and there are no specific dates to talk about.


In April 2018, the local Central Bank officially banned transactions with the crypto currency and did not recognize it as a means of payment. In fact, it took her out of the real economy, reducing opportunities for investment, settlements, trade, and participants in the IT market banned the attraction of funds for the implementation of start-ups.

South Korea

The authorities of Seoul are systematically conducting an attack on the Crypto-currency by blocking access to exchange exchanges. To do this, a ban was imposed on banks to open currency accounts, and anonymous accounts on exchanges are blocked. Also, banks are forced to monitor the compliance of operations with the norms of legislation, and if there are suspicions of users of such exchanges, taxes may be imposed.


The special bill provides for the regulation of the crypto-currency market, deals with which are possible only on special registered domestic sites where privacy and anonymity are unacceptable. The maximum volume of transactions for an ordinary investor can not exceed 50,000 rubles. Simultaneously, the process of mining is recognized as entrepreneurial activity, and the extracted crypto currency can not act as a means of payment. To prevent fraud and other crimes, advertising on advertising platforms (including the "Yandex" system, is prohibited, and among the world sites will be refused the placement of Facebook and Google ads).

European Union

In the recent rating of "friendliness to crypto-currencies" among the leaders are the Netherlands, Germany, Great Britain, Denmark, Finland, Portugal. Simultaneously, the European authorities in Brussels are conducting a soft offensive, trying to limit the possibility of using the crypt for criminal purposes. To this end, new rules were adopted to combat money-laundering, some of which dealt directly with crypto-currency.

The main innovation was the ban on anonymity when working with virtual currency. To this end, exchanges, purse suppliers will be forced to conduct their own verification of each customer, making verification by analogy with banks. Also, the services for exchanging, providing wallets will be subject to licensing. Note that the new requirements for the prohibition of privacy came into effect on April 23, and the work of the stock exchanges took a year and a half to bring the work to order.

Earlier, Brussels tightened requirements for brokerage conditions. Under the new rules, no less than half the amount of the contract by the user must be paid by own means.


In February 2018, the local Central Bank imposed a restriction on investment, trading involving crypto-currencies. Also, it is not lawful to create specialized platforms and advise citizens. The market of crypts in the country is unable to use debit and credit cards to buy currencies.


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