Cryptocurrencies such as bitcoin and ether are considered commodities by the US Securities and Exchange Commission.
Despite the lack of a clear regulatory framework for cryptocurrencies, the United States is the “most crypto-complete” country in the world by several key metrics, such as Google searches, the number of crypto ATMs, and legislation.
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The 2021 Crypto-Ready Index, produced by the research firm Crypto Head, gave the United States 7.13 out of 10.
“In terms of the number of crypto ATMs, the United States leads with more than 17,000, by far the largest number in the world, with the number of ATMs lower in the nearest country by about 16,000.” It turned out on Thursday published Results.
“U.S. law allows the possession and use of cryptocurrency, and the number of cryptocurrency searches has increased by 140% in the past year.”
Cyprus ranks as the second largest jurisdiction in the world in terms of cryptocurrency processing, largely due to an increase in searches on Google last year.
The top five will be closed by Singapore, Hong Kong and the United Kingdom.
Last year, the United States appeared to be preparing to back down on the regulatory front when the outgoing Trump administration called for stricter portfolio legislation.
Under Joe Biden, the White House appears to have taken a more favorable stance on digital devices by appointing crypto-friendly lawmaker Gary Gensler as the Securities and Exchange Commission commissioner.
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Although new cryptocurrency users, including some of the Wall Street elite, are constantly arriving in the US, the future regulatory framework remains uncertain.
The CFTC and the Ministry of Finance’s Financial Law Enforcement Network are expected to play a greater role in shaping the country’s future crypto regulation.
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Source: cointelegraph.com
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