Cryptocurrency law continues to develop in accordance with the expansion of the market. Over the last year, the cryptocurrency sector experienced a flood of new legislation. Governments now seek to wrangle in the Wild West crypto atmosphere through a variety of new regulations.
During the 2017 crypto market rally, many governments decided it was time to look into regulating Bitcoin. Bitcoin hit all-time highs throughout the year and the crypto market topped $800 billion in trading volume. As you would expect, this influx of new Bitcoin capital drew the attention of government officials, some of whom, saw Bitcoin as a threat to the current financial system.
Despite their fears, many of these governments embraced the technology, and today, there are an ever growing number of blockchain friendly countries…