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Dubai Approves First Law to Regulate Digital Assets, Establishes Regulator to Oversee Crypto Sector
11.3.2022
Dubai has adopted its first law to regulate the crypto sector. It has also established a dedicated regulator to oversee crypto activities and related service providers. Crypto Sector Regulated in Dubai The emirate of Dubai has adopted its first law to regulate crypto assets and established...
Paypal Joins Other Payment and Remittance Providers Suspending Services in Russia
6.3.2022
A number of payment and remittance platforms, now including Paypal, have restricted access to their services in Russia as western sanctions over Moscow’s invasion of Ukraine continue to expand. Fintech companies have been limiting operations in the Russian Federation also in response...
South African Treasury on Crypto Regulations: Amendments to Relevant Laws to Be Finalized in 2022
26.2.2022
The South African Treasury says it expects the amendments to the country’s financial laws — that will see crypto asset service providers being included as accountable institutions — to be finalized in 2022. Aligning Local Laws With FATF Standards The South African Treasury...
Fireblocks to Acquire Crypto Payment Platform for a Reported $100 Million
20.2.2022
Digital asset custody service provider Fireblocks has announced it will acquire First Digital, a fellow Israeli company, for $100 million. The acquisition, which is said to be Fireblocks’ first, comes less than three weeks after the company revealed it raised $550 million in Series...
Despite Recent Threats From Canadian Officials, ‘Real Crypto’ or Decentralized Assets Cannot Be Frozen
20.2.2022
Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin...
UAE Prepares to Launch Nationwide Crypto Licensing System in Line With Global Standards
19.2.2022
The United Arab Emirates (UAE) is getting ready to start issuing federal licenses to cryptocurrency service providers in the first quarter. The UAE crypto regulation will take a hybrid approach. The government hopes that a nationwide crypto licensing system will attract big companies to the region....
More Investors Enter Crypto But Keep Multiple Financial Service Providers - Survey
18.2.2022
Crypto ownership is on the rise, but investors are not abandoning traditional financial services as a result of their intensifying interest in cryptoassets. On the contrary, crypto investors are more likely to use multiple financial services providers than the general population is, suggests...
‘Bank of Jamaica Will Roll Out Digital Jamaican Dollar in 2022,’ Says Prime Minister
14.2.2022
According to an announcement from Jamaica’s Prime Minister Andrew Holness the Bank of Jamaica plans to “roll out” its central bank digital currency (CBDC) after the country’s successful pilot last year. Jamaica’s CBDC Is Due to Launch This Year Jamaica, the island...
Russian Government Eyes $13 Billion in Taxes From Crypto Economy
9.2.2022
Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles...
El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet
2.2.2022
On February 2, 2022, the blockchain infrastructure provider Alphapoint has announced that the Salvadoran government has chosen the firm to operate the bitcoin wallet Chivo. The bitcoin wallet is the largest fintech application in the country and Alphapoint “supports the frontend and backend...
Zimbabwe Signs Agreement Enabling Collection of Taxes From Crypto and E-Commerce Entities
23.1.2022
The Government of Zimbabwe has confirmed signing an agreement with Daedalus World Limited which enables the latter to collect taxes from crypto and other content providers. Zimbabwe’s Stance on Crypto The Zimbabwean government recently said it had entered into an agreement with the British...
Singapore bars crypto service providers from advertising in public spaces
17.1.2022
The new regulations would only allow for advertisements on native websites and mobile apps for DPT companies
NFT Analytics Platform Cryptoslam Raises $9M From Animoca Brands, Mark Cuban, Sound Ventures
7.1.2022
On Wednesday, the non-fungible token (NFT) data and analytics platform Cryptoslam raised $9 million in a capital funding round led by Animoca Brands. Cryptoslam detailed that Mark Cuban participated in the financing and Ashton Kutcher’s and Guy Oseary’s Sound Ventures joined in...
Cryptocurrency Draft Law Presented in Peru
5.1.2022
A draft of a new cryptocurrency asset law was introduced in Peru in December, seeking to regulate the cryptocurrency interactions that are already happening in the country. The draft law, besides defining what a crypto asset is and establishing the duties of virtual asset service providers (VASPs)...
Estonia Clarifies Upcoming Regulations, Will Not Ban Crypto Holding or Trading
4.1.2022
The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing...
Jamaican Central Bank Says It Has ‘Successfully Completed CBDC Pilot’
4.1.2022
The Jamaican central bank successfully completed the pilot testing of its central bank digital currency, a statement from the bank has said. The statement however reveals that only one payment service provider participated in the pilot. Only One Payment Provider Participated in the Pilot The Bank...
Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTS
31.12.2021
Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such...
Dubai to Create Crypto Zone, Binance Joins Effort
23.12.2021
The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The move is part of efforts to support new industries and the emirate intends to source help from crypto companies like Binance. Dubai World Trade Centre to Host and Regulate...
Chainalysis to Offer Lightning Network Monitoring Service to VASPs in 2022
11.12.2021
On December 10, the blockchain intelligence firm Chainalysis revealed that the company has added support for Bitcoin’s second-layer protocol the Lightning Network (LN). According to Chainalysis, firms like exchanges and virtual asset service providers (VASPs) can leverage...
Australia to Regulate Crypto Sector as Part of Payments Reform
8.12.2021
The government of Australia is preparing to comprehensively regulate the activities of cryptocurrency exchanges and custodians. The push is part of a major overhaul, aimed at preserving the country’s sovereignty over its payments system, which will also affect providers like Apple...