Countries and their regulators - page 2.

carlisle1

hero member

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Campaign Management?"Hhampuz" is the Man

Quote from: Luis34 on April 17, 2018, 01:31:28 PM

Good afternoon, does anyone have a table for each country with their crypto-coins regulators? Like for example:
Brazil: CVM - Brazilian Securities Commission
United States: SEC - United States Securities and Exchange Commission
...

So that news of regulations can be tracked directly from regulators.

what is your reason asking this?why not be contented on your own country's regulations?other countries regulations has nothing to do with you..but its ok as i know many country's now are just starting to create theyre own regulations..

aso118

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Quote from: Simon Eaton on April 17, 2018, 02:38:00 PM

in America specifically its a right mess

SEC class crypto as a security
FinCen class crypto as a currency
CFTC (commodity futures trading commission) class it as a commodity
IRS class it as a property

Some of these can overlap yes, but not all

The CFTC regulates all futures and derivative contracts, not just commodity ones. For example, even interest rate futures are regulated by the CFTC. So the reason that Bitcoin futures were regulated by the CFTC is because they were derivative contracts, not because the underlying asset was Bitcoin.

jaysabi

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Quote from: Simon Eaton on April 17, 2018, 02:38:00 PM

in America specifically its a right mess

SEC class crypto as a security
FinCen class crypto as a currency
CFTC (commodity futures trading commission) class it as a commodity
IRS class it as a property

Some of these can overlap yes, but not all

The SEC has not classified crypto as a security, it has only said that in certain cases, the way a crypto asset is distributed may implicate securities laws (mainly, for ICOs). The CFTC considers digital currencies as commodities under the Commodity Exchange Act, and has jurisdiction when it is used in a derivatives contract or when there is fraud in interstate commerce. The IRS classifies Bitcoin as property, but you may owe capital gains taxes as well as income taxes on taxable events.

More importantly, these definitions are not mutually exclusive, so just because one regulator claims jurisdiction over one aspect of crypto doesn't mean that it makes no sense for others to as well. It's not really all that complicated. Most of the things average people will do with Bitcoin won't involve any regulatory agency other than the IRS. You're likely not trading derivatives, not selling ICO securities, and probably shouldn't be doing anything that involves FinCEN. It's not as bad as you made it sound.

BitHodler

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Quote from: Simon Eaton on April 17, 2018, 02:38:00 PM

in America specifically its a right mess

SEC class crypto as a security
FinCen class crypto as a currency
CFTC (commodity futures trading commission) class it as a commodity
IRS class it as a property

Some of these can overlap yes, but not all

There is a difference between crypto currencies and tokens. Tokens quite often are considered to be and fit in the securities category, while actual crypto currencies themselves aren't.

It's a difference making sure that exchanges heading over to the SEC applying for a license, will have to not only apply for one license, but several in order to be fully compliant. It's a mess, but these are the rules.

Exchanges have to adapt in order to operate legally. All exchanges not doing so will experience the negative consequences of ignoring regulations. People should research how compliant their exchange is.

This market is no longer the free and 'fun' kindergarten it once was.

tadex01

newbie

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Most countries that are against the cryptocurrencies and it adoption are doing so because of tax evasion. Most of these countries believe that activities done with cryptocurrencies cannot be adequately monitored without evading tax. Until adequate measures and regulations are put in place to control these anomalies before cryptocurrencies begin to become a welcome ideas.

Simon Eaton

newbie

Activity: 56

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in America specifically its a right mess

SEC class crypto as a security
FinCen class crypto as a currency
CFTC (commodity futures trading commission) class it as a commodity
IRS class it as a property

Some of these can overlap yes, but not all

Lagrood

newbie

Activity: 728

Merit: 0

I have not seen such a list yet. Crypto is a new technology and asset so not all countries regulate it.

Luis34

member

Activity: 123

Merit: 10

Good afternoon, does anyone have a table for each country with their crypto-coins regulators? Like for example:
Brazil: CVM - Brazilian Securities Commission
United States: SEC - United States Securities and Exchange Commission
...

So that news of regulations can be tracked directly from regulators.

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