Global cryptocurrency regulation is turning bearish in these five countries

As the cryptocurrency markets are in freefall, global cryptocurrency regulation appears to be turning bearish as well.

While one SEC Commissioner proposes a "Safe harbor" for cryptocurrency projects, the US Secretary of the Treasury announces "Significant" new regulation.

Once thriving and "Crypto-friendly", the South American country's IRS imposed stricter cryptocurrency regulation in August 2019.

Brazilian cryptocurrency exchanges have been struggling to meet the criteria.

The country seems to be sending out mixed signals as to how it wants its cryptocurrency regulation to develop.

With some of the most active traders in the world, major cryptocurrency exchange Binance's CEO Changpeng Zhao said: "Russia is our key market" a few months ago.

On top of that, the DoJ also labeled bitcoin mixing a crime last week, while the Minneapolis Federal Reserve President Neel Kashkari called the cryptocurrency space "a giant garbage dumpster."

Another new development in cryptocurrency regulation comes out of the heart of the EU -Belgium.

That doesn't necessarily mean that cryptocurrency regulation here will be bearish.

He cited following the lead of countries like China, Russia, and Algeria - countries that have either banned cryptocurrencies or heavily regulated them.5.