---
title: "What regulation and requirements govern bitcoin?"  
description: "What regulation and requirements govern bitcoin?"  
author: "Sandra Emily"  
published: 2022-05-18  
canonical: https://answers.mindstick.com/qa/97452/what-regulation-and-requirements-govern-bitcoin  
category: "troubleshooting"  
tags: ["troubleshooting", "cryptocurrency"]  
reading_time: 1 minute  

---

# What regulation and requirements govern bitcoin?

What [regulation](https://www.mindstick.com/news/2377/china-s-cyberspace-administration-has-updated-its-guidelines-for-controlling-online-comments) and [requirements](https://yourviews.mindstick.com/view/83345/what-are-the-requirements-to-get-a-hard-money-loan) govern [bitcoin](https://www.mindstick.com/articles/54891/three-reasons-to-invest-in-bitcoin-in-2019)?

## Answers

### Answer by Hitesh Vohra

- While the previous law intended to outlaw all crypto-related acts such as mining, purchasing, holding, selling, and dealing, the new one will seek to distinguish between it and its commonly used classification as a currency.
- There is currently **no rule or prohibition in place in the country regarding the usage of cryptocurrencies.** The Supreme Court of India overturned the Reserve Bank of India's (RBI) ruling prohibiting banks from enabling crypto transactions in March 2020.
- Because there is currently no legal structure in place to offer asset protection, crypto investors have little to no protection in the market. In the United States, several exchanges retain compliance with changing federal and state authorities.

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**Read More: [Are cryptocurrencies used for illegal purposes?](https://answers.mindstick.com/qa/97455/are-cryptocurrencies-used-for-illegal-purposes)**


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