Regulatory situation of cryptocurrencies in some countries

Figure: Regulatory situation of cryptocurrencies in some countries

U.S.A

If cryptocurrency is packaged as a derivative product or if the activity of cryptocurrency involves market manipulation or fraud, it is within the regulatory scope of the United States Commodity Futures Trading Commission (CFTC). If cryptocurrency has securities attributes, its related activities may be subject to regulation by the United States Securities and Exchange Commission (SEC)


Singapore

Cryptocurrency is regarded as a tool for exchanging goods, and the Payment Services Act was introduced in 2020. Subsequently, a revised bill was introduced in 2021 and a digital payment token service was introduced to reduce the likelihood of fraudulent payments

Japan

In 2017, the Payment Services Act (PSA) was introduced, officially recognizing virtual currency as a payment method, and the Financial Services Agency of Japan (FSA) was responsible for developing a regulatory framework and regulating all virtual currency exchanges

the republic of korea

In 2018, up to six bills were introduced to regulate the cryptocurrency industry, aiming to provide more protection for private investors and address the lack of regulation of virtual currency transactions under current laws