Control over the cryptocurrency market must be global, says Joachim Wuermeling (Joachim Wuermeling), head of the Deutsche Bundesbank. In his view, in cross-border virtual community is very difficult to comply with national or regional laws and regulations:
«Effective regulation of virtual currencies would be possible only by international cooperation, since regulatory power of nation States is clearly limited.»
The unprecedented rise in popularity of cryptocurrency, to regulate and control this sphere trying many States. The most active you this regard, South Korea and China.
The ban on ICO, the termination of the cryptocurrency exchanges on its territory, strengthening control over the mining of cryptocurrencies – not all the measures taken by China to address the issue of monitoring cryptobytes. Declared a total ban cryptocurrency in the country.
The South Korean authorities, in turn, took measures for the complete elimination of anonymity of crypto-currency investors and also introduced a ban on ICO. In January 2018, financial Supervisory Service of South Korea called for strengthening international cooperation to limit cryptocurrency trading.
The position of European countries in this respect is more liberal: the EU is not going to regulate the cryptocurrency market. Mario Draghi (Mario Draghi), the President of the European Central Bank explains that the Bank has the necessary authority.
The Finance Ministers of the USA and France suggested to discuss questions of regulation of the stock market at the next G20 summit, in April of this year.