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It’s been more than ten years since cryptocurrencies entered the market, but they still have not seen the traction they deserve or was expected of Satoshi Nakamoto’s amazing gift to the world… and that’s partly because there are many nations that consider tokens as an illegal currency. Cryptocurrencies have reached the international level with the help of the blockchain network, but it still needs credibility and acceptance to be used in the government institutions. The trade market and the financial standing of all the nations keep changing and this makes cryptocurrency complex due to regulations. Let’s take a look at what different legislatures has to say.
The United States
If you are thinking that Americans are open-minded and will easily accept the concept of cryptocurrencies, then you are certainly mistaken. The United States is one of the main countries that oppose the use of cryptocurrencies. It is very hard to find legal crypto traders in the United States. The whole of America is divided into several small factions. Every state has its own law for handling the cryptocurrencies. For instance, the US FinCen considers cryptocurrencies as the illegal tender and does not encourage Americans to trade in cryptocurrencies.
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