Bitcoins, ethereum, and other cryptocurrencies, commonly known as "digital gold", are gaining exposure globally through various media outlets even though very few countries officially recognize cryptocurrency as legal currency. Official national-level regulatory positions relative to cryptocurrency may be separated into three main groups: totally against, legalized, and uncertain. The most interesting situation is uncertain because of the market basis at stake if governments turn away from digital gold.
For those countries with some official recognition of cryptocurrencies, several approaches for regulating the market are being tested with varying levels of favorability toward fostering the growth of digital currency*. No consensus approach has yet emerged from amongst early regulators, including India, New Zealand, Poland, and Switzerland, among others.
*Regulations evolve rapidly, so the analysis can differ from recent developments.