Its also difficult to regulate Bitcoin when, in actual fact, regulations vary from country to country. The only similarity may very well be those countries where cryptocurrency is banned or restricted. The issue of how it is classified also comes up again when looking at a global view of Bitcoin. 
In an Investopedia article, a roundup of countries illustrates some of the varied regulations related to cryptocurrency. Here are some examples of the different regulations:
Australia wants to tax cryptocurrency like other commercial transactions but is also cautious after security concerns from losses in 2013.
Brazil has enacted a law about electronic currencies and payment systems, leading the way in evolving its regulations.
Canada would like to tax Bitcoin but it is currently not recognized as legal tender so as no legal recognition.
China restricts its use and does allow financial institutions to conduct any transactions using Bitcoin.
The European Union has spent time debating the issue and has found some ways to tie a legal basis for Bitcoin to its existing laws, but the European Banking Authority is still against it until it becomes regulated.
Finland has created specific instructions on how it can be used. It also has made any gains from these transactions subject to capital gains tax.
India has shut down the countrys largest Bitcoin trading platform and currently has no regulatory framework for cryptocurrency.
Russia restricts the use of Bitcoin and is concerned over its potential for use in money laundering or terrorist activities.
In an Investopedia article, a roundup of countries illustrates some of the varied regulations related to cryptocurrency. Here are some examples of the different regulations:
Australia wants to tax cryptocurrency like other commercial transactions but is also cautious after security concerns from losses in 2013.
Brazil has enacted a law about electronic currencies and payment systems, leading the way in evolving its regulations.
Canada would like to tax Bitcoin but it is currently not recognized as legal tender so as no legal recognition.
China restricts its use and does allow financial institutions to conduct any transactions using Bitcoin.
The European Union has spent time debating the issue and has found some ways to tie a legal basis for Bitcoin to its existing laws, but the European Banking Authority is still against it until it becomes regulated.
Finland has created specific instructions on how it can be used. It also has made any gains from these transactions subject to capital gains tax.
India has shut down the countrys largest Bitcoin trading platform and currently has no regulatory framework for cryptocurrency.
Russia restricts the use of Bitcoin and is concerned over its potential for use in money laundering or terrorist activities.