Legislation from nation to nation

The American Securities and Exchange Commission has recently declared that tokens created for initial coin offerings can be viewed as commodities, and this view is now supported by the United States Commodity Futures Trading Commission. However, the reports say that both organizations do not exclude individual approach towards anomalous offerings.

Australia, in turn, updates its conditions of cryptocurrency regulation and is currently working on anti-money-laundering and terrorism financing prevention laws that will include regulatory moves towards digital currency market in order not to allow it to become a safe haven for criminals, the media reports.

Simultaneously with this, the representative of the central bank of Brazil compares Bitcoin to a Ponzi scheme. The primary reason of this statement is because this banker worked with fiat assets for all his life and now, as he says himself, doesn’t see any ballast behind Bitcoin. The cryptocurrency community has every right to advise Mr. Goldfajn to do his homework on the matter, as Bitcoin is backed by difficult math calculations and huge power consumption of mining rigs.

Kazakhstan, a post-Soviet country with the authoritarian leader in place since 1990s, looking at its powerful neighbors – China and Russia – decides to issue government-backed cryptocurrency as well, the outlets say. Previously, this country has been noticed attracting Chinese miners with low power consumption prices. However, the government in this country is not as obsessed with the blockchain as the Russian. Much work is still to be done, but the overall positiveness towards cryptocurrency can serve as an example to other, poorer authoritarian countries in this region.