Regulation continues to cast a huge shadow over Bitcoin in 2021. In particular, China has been consistent in its aggression towards cryptocurrency. The country instituted a ban on financial institutions and payment services companies offering crypto-related services and even made some mass arrests on people using cryptocurrencies in controversial ways. China is a significant country for Bitcoin, with almost 50% of miners domiciled there. The recent crackdown dented Bitcoin\u2019s infrastructure, which subsequently weighed heavily on the price of the coin. But it is not only negative regulation that is making headlines. There have been positive headlines hitting the wires too \u2013 the US levies capital gains tax on cryptocurrencies, which implies a positive step. First, you\u2019ll want to choose a cryptocurrency trading platform to exchange your U.S. dollars for Bitcoin or other digital currencies. Depending on the exchange you choose, you may need to provide information like your Social Security number, ID, and your source of income when you create your account. Once you\u2019ve created your account, most exchanges will ask to connect your bank account or a debit card.<\/p>\n