Prior to 2024, India’s approach to cryptocurrency regulation underwent significant developments, marking a shift towards a more structured and vigilant regulatory environment. The country’s actions reflected its efforts to balance the innovative potential of digital assets with the need to mitigate risks and ensure financial stability. Integration into Anti-Money...

Prior to 2024, Guinea-Bissau’s stance on cryptocurrencies was marked by a significant lack of specific legal frameworks and regulations. In this West African nation, the legality of cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, Tether, Cardano, USDT, XRP, and Monero was not explicitly defined by law. This absence of specific...

As the world of digital assets grows, Ghana’s approach towards the regulation of cryptocurrencies has been cautious yet forward-looking. Prior to 2024, Ghana’s financial authorities maintained a firm stance on the use of cryptocurrencies within its financial system, deeming it illegal. This directive, reinforced by the Minister of State...

El Salvador, known for being the first country to recognize Bitcoin as legal tender, continued to shape its cryptocurrency landscape with significant legislative developments prior to 2024. In 2023, the country’s Legislative Assembly approved a new law, the Law on the Issuance of Digital Assets (LEAD), to regulate the...

Norway’s approach to cryptocurrency regulation prior to 2024 was marked by a progressive yet cautious stance, aligning with broader European trends in financial regulation. While not recognizing cryptocurrencies as legal tender, Norway established a regulatory framework primarily focused on anti-money laundering (AML) compliance and taxation, demonstrating its commitment to...

Prior to 2024, Malta emerged as a leader in the regulation of cryptocurrencies, characterized by a proactive and progressive approach. The Maltese government, recognizing the potential of digital currencies and blockchain technology, actively encouraged their development. While there was no specific legislation for cryptocurrencies initially, Malta rapidly moved towards...

Luxembourg, known for its progressive stance in the financial sector, approached cryptocurrency regulation with a similarly forward-thinking attitude prior to 2024. While cryptocurrencies were not considered legal tender in Luxembourg, the country’s legislative approach was notably permissive and focused on integrating these new technologies into the financial system with...

As of 2022, the legislative framework in Lesotho for cryptocurrencies was defined by caution and a focus on cyber security, rather than direct regulation of digital currencies. The Central Bank of Lesotho, in February 2018, stated that cryptocurrencies were neither recognized as legal tender nor considered foreign currency in...

As of 2022, Kuwait had a distinctive stance on cryptocurrencies that was primarily characterized by prohibitive measures. The country’s financial authorities, including the Ministry of Finance and the Central Bank of Kuwait (CBK), had established a firm stance against the recognition and use of cryptocurrencies in official commercial transactions....

Jamaica’s approach to cryptocurrency regulation before 2023 was characterized by its integration into the existing legislative framework, without explicit laws specific to digital currencies. Cryptocurrencies in Jamaica were not explicitly prohibited, and the general legal framework of the country likely regulated them. This included the possibility of cryptocurrencies being...