In April 2018, Bank of Montreal (BMO) announced that it would prohibit its credit and debit card customers from participating in cryptocurrency purchases using their cards.  This follows another ban on banking in Canada by Toronto Dominion (TD).  In just two years, The Silk Road had brought in more than $1.3 billion in Bitcoin. The FBI feared that much of this revenue was the result of money laundering, triggering the anonymity of the Bitcoin debate. In the same year, FinCEN declared that Bitcoin was not legal tender. The U.S. Senate has also sent letters warning law enforcement of threats posed by digital assets. This would change what the state considers legal tender and allow bitcoin to be used to pay debt, taxes, and tariffs. Bitcoin has been controversial since its inception in 2009, as have the cryptocurrencies that followed in its wake. «The government does not recognize cryptocurrency as legal tender or currency and will take all measures to prevent the use of these crypto-assets to fund illegitimate activities or as part of the payment system,» Jaitley said.  The Bank of Lithuania issued a warning on January 31, 2014 stating that Bitcoin is not recognized as legal tender in Lithuania and that Bitcoin users should be aware of the high risks associated with its use.  One idea currently being discussed in many countries regarding the introduction of digital «coins» for everyday expenses is the concept of central bank digital currencies, or CBDCs. In the US, the Fed seems to have more or less ruled out this possibility, as the Tether «stablecoin», an $80 billion digital currency, appears to be a secure digital store of value for investors and traders.
In the UK, Europe and other countries, the jury is not yet on the issue of CBDC, and it is still early to launch testing projects. As a result, the People`s Bank of China banned initial coin offerings (ICOs), meaning projects could not conduct fundraising in the country. However, this shouldn`t be too surprising, as the Chinese government has been researching all sorts of international transactions – crypto and others. These regulations have put a strain on cryptocurrency trading in China and many businesses have had to move away from the mainland. The Danish Financial Supervisory Authority has issued a statement stating that Bitcoin is not a currency and will not regulate its use. : Denmark On 20 March 2018, a draft law on digital financial assets was submitted to the State Duma. It defines cryptocurrency mining as «activities aimed at creating cryptocurrency for the purpose of obtaining compensation in the form of cryptocurrency.» and treats it as a «taxable business activity if the minor exceeds the energy consumption limits set by the government for three consecutive months.» Crypto is not legal tender in Georgia, but there are currently no regulations from the National Bank of Georgia that prevent it from being used in the form of barter.  Bitcoin miners have already been arrested by law enforcement, but in January 2018, Carlos Vargas, the government`s cryptocurrency superintendent, said, «This is an activity that is now completely legal. We have had meetings with the Supreme Court to ensure that people who have been victims of seizures and arrests in recent years will dismiss the charges.
 A month later, more Salvadorans have bitcoin wallets than traditional bank accounts, and the most popular bitcoin wallet – the officially government-sponsored Chivo wallet – has been downloaded by three million people, representing nearly 46% of the population.  However, only 12% of Salvadoran consumers used cryptocurrency, and 93% of businesses surveyed said they did not receive payments in Bitcoin in the first month.  The legality of Bitcoin has always been a controversial conversation. How does a government treat a decentralized global digital asset that should not be controlled by a centralized party or organization? A new form of censorship-resistant, community-oriented currency? If a cryptocurrency meets all four requirements of the Howey test, it is likely to be considered a security under U.S. federal securities regulations. This is true regardless of the name of the asset or how it was created. The SEC will focus on the substance of each transaction rather than the form of the cryptocurrency. In January 2022, the Russian central bank proposed to ban the use and mining of crypto-currencies on Russian territory, citing threats to financial stability, the well-being of citizens and their monetary sovereignty. 2. In September 2018, a decree came into effect that legalizes crypto trading – including duty-free – and mining in the country, making Uzbekistan a crypto-friendly state.
 Miners and all foreigners are prohibited from trading cryptocurrencies. Adult South Koreans can trade on registered exchanges with real accounts registered in a bank where the exchange also has an account. The bank and exchange are responsible for verifying the identity of the customer and enforcing other anti-money laundering regulations.   In 2021, the German Federal Financial Supervisory Authority (BaFin) granted Coinbase an official license, which is necessary to continue serving customers in the country. Coinbase is the first crypto-related group to receive this license – a requirement that went into effect in November 2019. BaFin plans to grant the license to many other groups. Although President Biden has just announced an executive order on cryptocurrencies, states still have few guidelines on how to respond to the growing popularity of digital currencies. Thus, a number of states are moving forward with their own cryptographic bills.
The country has a very «love-hate» relationship with crypto. Iran has announced a four-month ban on energy-intensive mining of cryptocurrencies such as Bitcoin after cities suffered unplanned outages due to massive cryptocurrency mining operations in the country. Bitcoin is considered a commodity and not a security or currency under the laws of the Kyrgyz Republic and can be legally mined, bought, sold and traded on a local commodity exchange.  The use of Bitcoin as a currency in national regulations is restricted.  It has never been «illegal» to buy and hold bitcoins in the United States – at least not at the federal level. Policies vary depending on your country of residence. Based on the public decision of the Georgian Ministry of Finance in 2019, crypto is inherently not «sourced» in a specific geographical location, meaning it is not considered «Georgia-related.» This type of income would fall under the 0% capital gains tax arising from crypto trading laws. Unregulated, according to a 2014 statement from Brazil`s central bank on cryptocurrencies, but is discouraged due to operational risks.
 In November 2017, this unregulated and discouraged status was reaffirmed by Brazil`s central bank.  On May 7, 2019, Brazil`s Special Department of Federal Revenue released a document on cryptocurrency taxes in the country.  While there is a long list of federal acronyms responsible for regulating cryptocurrency, actual federal regulations are much rarer.