Ethereum

2024

America

Bitcoin

<ul> 
 <li aria-level="1">El Salvador and Switzerland lead global rankings for Bitcoin integration into financial systems, surpassing Europe’s MiCA.</li> 
</ul> 
<ul> 
 <li aria-level="1">Coincub’s 2024 analysis rates El Salvador’s laws at 9.2 out of 10 for cryptocurrency regulatory environment.</li> 
</ul> 
El Salvador and Switzerland are leading the global landscape in terms of cryptocurrency regulation, according to the 2024 Coincub rankings. These nations have established legal frameworks that have been recognized as the most favorable for integrating Bitcoin into the financial system, surpassing Europe’s Markets in Crypto-Assets (MiCA) regulation. 
The Coincub ranking, which maps out countries with the most supportive cryptocurrency regulations for 2024, took into consideration the legislative advancements made this year. These laws are geared towards greater incorporation of digital currency into the global financial system.&nbsp; 
Analysts at Coincub evaluated the regulations of various countries, focusing on the unique requirements of the current financial environment, which anticipates a massive increase in institutional cryptocurrency adoption following the approval of Bitcoin and Ethereum ETFs in the United States. 
<blockquote>
 This year has seen increased regulation and supervision around the world, with more countries enacting extensive cryptocurrency legislation and implementing measures to ensure investor protection and market stability. These developments are expected to favor the use of bitcoin as a reserve asset in pension funds and as part of company treasuries, making increasingly robust regulatory frameworks necessary. – Coincub
</blockquote> 
This year has seen an uptick in regulation and oversight worldwide, with an increasing number of countries enacting comprehensive cryptocurrency legislation and measures to ensure investor protection and market stability. These developments are expected to facilitate the use of Bitcoin as a reserve asset in pension funds and as part of corporate treasuries, necessitating increasingly robust regulatory frameworks. 
As <a href="https://www.crypto-news-flash.com/president-bukeles-latest-initiative-a-bitcoin-bank-to-diversify-economic-opportunities-in-el-salvador/">we have written</a> in Crypto News Flash, El Salvador, in particular, has been notable for its legal incentives for adoption, integrating the cryptocurrency ecosystem into traditional finance. Coincub gave the Bitcoin Law and other cryptocurrency regulations implemented in El Salvador a score of 9.2 out of 10, only slightly trailing behind Switzerland’s score of 9.6. European and EU countries generally scored between 7 and 8, with Germany, France, Gibraltar, and Lithuania among the more advanced. 
<figure id="attachment_746299" aria-describedby="caption-attachment-746299" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-746299" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/07/regulacion-mundo-el-salvador.webp" alt="regulacion-mundo-el-salvador" width="1024" height="683" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2024/07/regulacion-mundo-el-salvador.webp 1024w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/regulacion-mundo-el-salvador-300x200.webp 300w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/regulacion-mundo-el-salvador-768x512.webp 768w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/regulacion-mundo-el-salvador-150x100.webp 150w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/regulacion-mundo-el-salvador-450x300.webp 450w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption id="caption-attachment-746299" class="wp-caption-text">
 Source: Coincub
 </figcaption>
</figure> 
Japan placed third in the rankings, following Switzerland and El Salvador, positioning these nations above others that are still aligning their laws with MiCA standards. The European bloc’s legislation, effective last year and fully implementing this year, was previously considered the most favorable for integrating Bitcoin into the financial system, especially as it was backed by over 55 banks. You can read more about it in our <a href="https://www.crypto-news-flash.com/circle-leads-compliance-charge-usdc-and-eurc-approved-under-eus-mica-stablecoin-laws/">Crypto News Flash coverage</a> on the subject. 
However, despite Europe’s strong position, El Salvador stands out in Latin America and globally. The government under President Nayib Bukele has been proactive in legislating for digital assets, making strides since the enactment of the Bitcoin Law in 2021. Last year saw the passage of the Digital Asset Issuance Law among other regulations promoting adoption. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We congratulate <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a>, the president of El Salvador, that El Salvador ranked 2nd in the world in our <a href="https://twitter.com/Coincub_?ref_src=twsrc%5Etfw">@Coincub_</a> Regulation 2024 Ranking. Well done to <a href="https://twitter.com/jcreyes_sv?ref_src=twsrc%5Etfw">@jcreyes_sv</a> and his team for this amazing achievement. <a href="https://t.co/3Lv8UMkIWk">https://t.co/3Lv8UMkIWk</a> 
 — Dr. Süleyman Kıran (@suleymankiran) <a href="https://twitter.com/suleymankiran/status/1808452444151599141?ref_src=twsrc%5Etfw">July 3, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
For 2024, an amendment to the Banking Law is planned to promote private investment banking, which will offer services in both dollars and Bitcoin. El Salvador’s regulation is unique globally, as it grants Bitcoin the status of legal tender. This legal framework supports cryptocurrency operations and transfers, allows for the issuance of bonds, including Bitcoin bonds, and offers tax exemptions to investors and business owners. 
<blockquote>
 The formula for success is simple: it starts with visionary leadership (like Bukele’s), establishes an independent regulatory body for digital assets, brings together brilliant minds to develop strong regulations, oversight and compliance mechanisms, and maintains a commitment to the continuous learning and adaptation. – Juan Carlos Reyes, president of CNAD El Salvador.
</blockquote> 
Juan Carlos Reyes, president of El Salvador’s National Digital Assets Commission, highlighted these achievements as a <a href="https://www.crypto-news-flash.com/nayib-bukele-defends-the-bitcoin-adoption-in-el-salvador-after-the-us-introduces-a-bill-to-investigate-move/">testament to visionary leadership</a>, an independent regulatory body for digital assets, and a continuous commitment to learning and adapting to ensure robust regulatory, supervisory, and compliance mechanisms.

El Salvador’s Bitcoin Law Outshines European Regulations in Cryptocurrency Adoption

Crypto News Flash

4 Tem 2024 tarihli diğer yazılar

The New Shiba Shootout Cryptocurrency: A Real Potential to Surpass the Shiba Inu Giant

BlockDAG Review ⭐⭐⭐⭐⭐: Five Essential Insights into the Trailblazing Crypto Phenomenon

ChatGPT outperforms humans in joke telling, study shows

Bitcoin (BTC) Price At $60k: Is This A Pullback Before A Rise To $71k?

Will Ethereum Price Make a Bullish Comeback Post Spot ETF Launch?

Bitget Wallet Amplifies Trading Features for TON, Introduces Cross-Chain Support for TON Tokens

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!