Cryptocurrencies’ Legal and Regulatory Status Remains Uncertain
Investment Gold man
Management
Division
Country
Illustrative Acceptance of
Cryptocurrencies’ Status
Key Regulator
Switzerland Singapore Japan
United Kingdom
United States
Russia
China
Cryptocurrencies'
Assets, not Securities Assets, not Securities
Recognized as legal tender (Bitcoin only)
Private Currency
- Commodities, potentially securities (SEC has not yet made determination)
- IRS treats as property for tax purposes (Exchanges, however, are not required to create 1099s).
Financial instruments, not currency
Non-monetary digital asset
FINMA Monetary Authority of Singapore
Financial Services Agency
Financial Conduct Authority
SEC CFTC OCC
50 States
Central Bank of Russia Russian Finance Ministry
People’s Bank of China
= The cryptocurrency world operates across geographic and jurisdictional borders, creating ambiguity as to its legal
status.
= Individual countries have taken differing views on cryptocurrencies.
(1) Data according to Autonomous NEXT #Token Mania (July 2017)
Source: Investment Strategy Group, Cryptocompare.com.
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