Countries with no regulation of cryptocurrency

Unlike all other categories of countries in which competent state bodies have already begun to determine legal status of cryptocurrency, the authorities of these states have not yet made any official statement that would reflect an attitude of state structures to cryptocurrencies.


There is no normative regulation. There are no regulations, no instructions, even no official publications of the regulator or other government agencies. Transactions with cryptocurrency are conducted under exclusive responsibility of a person who decided to do so.


As early as September 2016, a text of a regulatory act that was supposed to resolve issues relating to taxation of cryptocurrencies was published on official website of Italian government. Based on the provisions of above document, only legal entities would be subject to taxation. However, as of today, the document was never adopted. Taking into account the aforesaid, it can be concluded that there is no normative regulation in Italy.


There is no legal regulation of cryptocurrency in Latvia, as well as no instructions, information letters, explanations or clarifications.


There is an active development of legislative acts that would settle the market of cryptocurrency in the country at the moment. As of today, transactions with cryptocurrency are not prohibited or restricted. However, the head of the Central Bank of Malaysia did not provide much information about future acts, and the foregoing can not but cause certain concern about the future of cryptocurrency in the country.


There is no legal regulation of cryptocurrency, as well as in Latvia and Greece.