What is cryptocurrency and global regulatory landscape analysis

Basic Understanding of Crypto Assets

Crypto Assets (Cryptocurrency) are decentralized digital currencies supported by encryption technology, with representative projects such as Bitcoin (比特币), Ethereum (以太坊), and others. They do not rely on central banks for issuance and are primarily used for payments, investments, and cross-border transfers.

Differences in Regulatory Attitudes Among Countries

Crypto Assets vary in their positions across countries due to political, economic, and security needs. Some countries, such as China, strictly prohibit Crypto Assets trading and mining activities but support the development of blockchain technology. The United States, on the other hand, strengthens regulatory requirements, emphasizes compliant issuance, and encourages institutional participation. However, Japan, South Korea, and Singapore are relatively open, promoting industry development while adhering to strict anti-money laundering regulations.

Main Country Regulatory Details

Since 2021, China has comprehensively banned domestic Crypto Assets trading and mining, but allows the holding of Crypto Assets. The United States implements securities regulation on Crypto Assets through agencies such as the SEC, strengthening compliance reviews for exchanges. Japan is one of the earliest countries to establish comprehensive regulations for Crypto Assets trading, while South Korea requires real-name transactions, and Singapore supports industry development with strict supervision.

The situation of the EU and banned countries

The EU passed the MiCA regulation in 2023, integrating regulatory standards among member states to promote the legitimate trading of digital assets. Germany and France allow compliant custody and trading. Some countries, such as Algeria, Morocco, and Afghanistan, have independently prohibited the circulation of Crypto Assets due to political and financial stability.

Summary and Investment Reminders

The vast majority of countries around the world adopt a regulatory rather than an outright banning approach to Crypto Assets, with future trends leaning towards integration with traditional finance and clearer regulations. Investors should participate in compliance with local regulations, carefully choose platforms, and avoid regulatory risks.