Hi people, Faiz is welcoming you here, and today our topic is "The Legality of Cryptocurrency in Different Countries Around the World". The government looks closer when more people start buying, selling, and trading cryptocurrency because it is a question of tax, and now crypto is not just a hobby for people, but it is becoming a global financial tool. Crypto taxation is different in different countries, so it is important to talk about it.

As we all know that crypto has become very popular in the world, and it is obvious. To buy things, trade on the exchanges, and invest the coins like Hive, bitcoin, and ethereum are widely used. But here is the one big problem, because not every country allows this, and there are countries where bitcoin mining and cryptocurrencies are banned.

Hi, my name is Faiz makrani, and you have successfully landed on my blog, where I have shared important information. No doubt, there is a technology behind crypto that gives high importance to cryptocurrency, but there are other factors too that we should talk about, such as consistency, which is provided by crypto, clarity, and, most importantly, trust. That's the reason the SEC (Security Exchange Commission) comes in. We know that crypto is eating traditional finance (banking) slowly, and the SEC's stance is well-thought-out for the future of finance in the US and in the world, too, but still, there are some things that are missing.

We have seen in recent years that China is against cryptocurrency, and not only this, but China has taken strong steps against it. Let me talk about 2021, so during this year, this country banned all crypto assets, and this is not enough, but mining was declared illegal too. We all know that China is not a small country, and when it comes to economy and technology, it is valuable, which is why it has impacted the crypto market globally. Now, here we are going to understand and break down the stance of China country regarding the crypto field. Let's understand the reasons behind this stance of China.

Cryptocurrency is something that is very valuable for now, and the government also understands that we can't stop this technology, and they are always interested in regulating it. Regulators around the world know that lots of altcoins, bitcoin, and Ethereum are attracting people, so they are trying to balance innovation and financial stability.

This world is globalized, so international payments are becoming a necessity in daily life for millions of people. From India, lots of people are working outside and they are sending money to their families in India. When it comes to the traditional way then this process is costly and has issues like slow transactions, high fees, and other factors too. The greatest solution for cross-border payment is crypto.