What are the regulations on cryptocurrencies?

The regulations for cryptocurrencies vary widely from country to country. In the United States, for example, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has published guidelines describing how money service businesses (MSBs) must comply with anti-money laundering (AML) and know your customer (KYC) regulations when dealing in virtual currencies.

In other countries, such as China and India, the regulatory situation is less clear, though some governments have proposed tighter restrictions on cryptocurrencies. Each country will have its own set of rules and regulations governing the use of cryptocurrencies.