Let’s look at how some countries have approached their regulations one after the other and how crypto is regulated. CRYPTO REGULATIONS IN THE UNITED STATES OF AMERICA: While it’s difficult to find a level of consistency in the approach towards crypto assets regulation at the state level, the U.S., as of 2021, started drafting a framework for cryptocurrency legislation on the federal level. There are two significant factors to consider here: Firstly, the IRS (Internal Revenue Services) created a tax guideline as they do not consider cryptocurrency as legal but said, “digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value”. Secondly, the Financial Crime Enforcement Network (FinCEN) does not also consider crypto assets as legal tender but considers cryptocurrency exchanges to be money transmitters on the basis that cryptocurrency tokens are “other value that substitutes for currency.” This means all transactions on the blockchain...