In recent years, more and more governments and countries have expressed various levels of acceptance and recognition for cryptocurrency. These include the United States, Japan, Australia, Canada, Singapore, China, South Korea, Switzerland, Germany, France, and the United Kingdom. Some countries, such as Germany, have gone so far as to issue regulations that recognize cryptocurrency as a financial instrument and are actively encouraging its use. Other countries, such as China, have cracked down on the use of cryptocurrency and have adopted policies that limit the ability of companies to use or accept it.