Blockchain technology first made its way into the minds of global regulators through its use in bitcoin, the hotly contested cryptocurrency founded in 2008. Because bitcoin is popularly associated with its use on illegal online commerce sites like Silk Road and offered the potential to offset nationally supported currencies, most governments initially sought to restrict blockchain technologies.
In the last few years, however, financial technology companies have found successful applications of blockchains for enterprise software, forcing countries around the world to reconsider their approach to regulating the technology. Overall, regulation remains fairly piecemeal, but recently the U.S., U.K. and Russia have taken some steps to address the issue.
United Kingdom
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