But not every western economy has approached the market with hostility, as some capitalist societies have shown a willingness to incorporate the emerging market into their existing frameworks.
Canada, for example, has made exchange-traded funds (ETFs) for Bitcoin available to trade publicly.
ETFs include funds comprised of cryptocurrencies that track the price of one or more tokens and come with a share price.
Investors have been able to buy and sell these in Canada since February this year via the Toronto Stock Exchange.
When trading, they can own cryptocurrencies indirectly, mitigating some of the risks associated with trading on the virtual market.
source: express.co.uk