Before G- 20 summit in Buenos Aires, Argentina, the hype was going on that Cryptocurrency and Initial Coin Offering is the threat to the global economy and some powerful countries will take a strict decision against it in this G-20 summit. But, after a statement from Bank of England Deputy Governor, Sir Jon Cunliffe, has claimed that the leading cryptocurrency Bitcoin poses no real threat to the global economy and financial institutions despite its current phenomenal performance in the market. Somewhere this was a vital statement, which ensures the positive approach of Britain toward the Cryptocurrency. Now Cryptocurrency is legal in the England and users need to pay capital gains tax in a certain situation. Well, this was a short story from Britain which shows if you have a proper approach toward innovative technology, then despite all bottleneck, you can regulate it without any hassle. We want to remind you that now England is no more part of Europe and after BREXIT the country is facing uneven growth in many sectors.
Now after watching England’s approach toward Cryptocurrency, we will discuss the evaluation of Cryptocurrency and Bank in Europe.
Russia:
After proposing the asset regulation bill in January 2018, Russia’s approach toward Cryptocurrency is quite positive now. On 20 March 2018, Russian government establishes a regulatory framework for cryptocurrencies and initial coin offering (ICOs). However, regarding security concern of other nation, the bill redefines virtual currency as a financial asset and only allows trading on authorized exchanges. Apart from that,…