The First Laws on Cryptocurrencies: History of Regulation

The regulation of cryptocurrencies has come a long way from ambiguity to a clearer legal framework. Initially, cryptocurrencies were seen as anonymous and outside the scope of the law, which raised concerns among government bodies. In the 2010s, the first attempts at legislation regulating digital assets began to emerge. Among the first countries to show interest in cryptocurrencies were Japan and the USA. In 2017, Japan recognized Bitcoin as a legal method of payment, while the USA began developing rules for taxation. Since then, many countries have been moving towards creating stable and transparent legal frameworks for cryptocurrencies, ensuring their legitimacy and protecting investors.