The SEC has issued three enforcement actions against ICO sponsors- one halt and exposure of two alleged frauds. 4, 2017, China banned all companies and individuals from raising funds through ICO activities, reiterating that ICOs are considered illegal activity in the country. The Philippines Government has been moving towards legalizing and regulating digital currencies, which would be deemed securities and placed under the supervision of the Philippines Securities and Exchange Commission. Spain Virtual currencies are reportedly taxable as an electronic payment system under gambling law, but its treatment under other areas of law is unclear. The numbers seen here are expressed in US Dollars, like in the fourth column. The next bitcoin road column is the price of the coin, per unit, expressed in US Dollars, although the currency of the price can be changed in the small box at the top of the chart. Warning that lack of legal protections over Bitcoin constitutes a risk and may result in financial losses. Virtual currency is not legal tender.