Which exchange rules are valid for Bitcoin transactions?
The following exchange rules apply for Bitcoin and other cryptocurrencies.
For Bitcoin, the exchange rules include a section titled “Regulation of Bitcoins and other Cryptocurrencies”.
For a Bitcoin wallet, it also includes a section entitled “Regulatory of the Bitcoin Network”.
For Ripple, the section includes a list of exchanges, and a “Regulations on the Ripple Network” section.
These rules are for Ripple and its parent company Ripple Labs, but the company’s main competitor Bitmain is also part of the group.
Bitmain said that it “continues to work closely with the regulators in the Ripple market, and will continue to offer guidance to help protect investors from any future regulatory challenges.”
For Ethereum, the rules include rules covering “Regulators and Companies” and “Regulating the Virtual and Augmented Reality Industry.”
For Ethereum’s main rival, the Monero cryptocurrency, it says “Regulated” in the first two paragraphs.
For Ethereum Classic, it states “Regulates the Virtual Network” and then a section in the second paragraph.
For Ripple and Bitcoin, it provides a “List of Exchange Rules for Bitcoin, Ripple and other Crypto-currencies” section, with rules including the rule “Bitcoin is not a registered currency”.
It adds that “Regulating the Bitcoin network” in this section is “a regulatory task that is beyond Ripple Labs’ purview”.
It says:”Regulation and taxation of digital assets is an important responsibility for regulators.
In addition to regulatory actions taken by regulators, regulators should be aware of potential problems associated with virtual currencies, including potential security vulnerabilities, financial scams and tax evasion.”
It also says that it is “committed to protecting the privacy of all users, including those that use virtual currencies for financial purposes”.
For Ethereum and Ripple, it adds that the rules “state that virtual currencies must be governed in accordance with the laws of the jurisdiction that issues the digital asset”.
“Regulations governing virtual currencies require clear and timely guidance to support the adoption of these digital currencies and to ensure the protection of investors and the public interest,” it says.
“Regulatory decisions should not impose unreasonable costs on investors and may not impose unnecessary restrictions on digital asset investors.”