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2024 Bitcoin Price Prediction (CRAZY!)A comprehensive legal foundation is essential to effectively regulate crypto, addressing both private law and financial law aspects. This. The legislation went into effect on September. 7th, With El Salvador being the first country in the world to formally make Bitcoin a legal tender it is. The sale of cryptocurrency is generally only regulated if the sale (i) constitutes the sale of a security under state or federal law, or (ii) is considered.