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Brussels Asks Europeans How to Regulate Bitcoin, Public Consultation Continues Into March
11.2.2020
The European Commission is gathering feedback from EU citizens, businesses, regulators and other interested parties to establish a regulatory framework for crypto assets and markets on a European level. The public consultation which started in December will continue until March 19, 2020, with...
Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions
8.2.2020
Famous for its favorable business climate that has attracted hundreds of crypto companies, Switzerland is now expanding its financial regulatory framework. Some of the upcoming rules will increase oversight in the blockchain industry in compliance with new international standards regarding...
UK Crypto Startups to Pay Discounted £2,000 Fee for Registration, FCA Revises Application Charges
5.2.2020
Young and small cryptocurrency businesses will pay lower registration fees than big companies, the United Kingdom’s financial watchdog has decided after consultations with members of the industry. The revised fee scheme takes into account the firms’ income to determine the amount...
US Presidential Candidate Andrew Yang Says Regulations Cannot Impede Crypto, Affirms Priorities
1.2.2020
Andrew Yang, who is running for U.S. president in the 2020 election, has explained what his priorities will be regarding cryptocurrency under his administration. He said that crypto investors are finding a way to make use of their investments and regulations cannot impede it. Yang advocates for...
Singapore Introduces Licensing for Crypto Platforms, New Payment Services Now Act in Force
29.1.2020
The Monetary Authority of Singapore (MAS) has announced the commencement of the city-state’s new Payment Services Act. The law mandates the implementation of a licensing regime that applies to payment providers, exchanges and other platforms dealing with cryptocurrencies. Their operators...
Ukraine Plans to Track Suspicious Crypto Transactions Above $1,200
27.1.2020
Ukraine’s financial watchdog will track crypto transactions exceeding $1,200, according to the head of its Ministry of Finance
Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks
27.1.2020
Cryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use. The legalization of cryptocurrencies remains a priority...
Uzbekistan Prepares Crypto Tax Exemptions, Launches Licensed Exchange
22.1.2020
A new presidential decree in Uzbekistan envisages the introduction of tax exemptions for income obtained from operations involving crypto assets. The draft document published recently also incorporates proposals for the establishment of a blockchain valley and licensing regime for cryptocurrency...
New Guidelines Subject Canadian Crypto Exchanges to Securities Laws
18.1.2020
Canadian regulators have issued new guidance determining when current securities legislation applies to operations conducted by cryptocurrency exchanges. According to the clarifications in the document, many domestic and foreign entities serving Canadian users, for example those that provide...
Crypto Regulations: How They Fared in 2019
18.1.2020
Crypto regulation in 2019 has been shaped by the very interesting history that roots back in 2016, 2017, and 2018. Since its commencement, the digital currency has seen its all-time highs and even the lowest of lows (in the year 2018, Bitcoin got stuck at 3K US Dollars for a long time), and then...
Russia’s New Prime Minister Has an Opinion of Cryptocurrencies
17.1.2020
The Russian Federation has a new prime minister, Mikhail Mishustin, with a track record of statements regarding cryptocurrencies and an affection for digitalization. A stated goal of his government will be to turn the country into a digital platform “for the people.” Time will tell...
Canadian Regulatory Group Targets Crypto Exchanges Holding Users’ Digital Assets
17.1.2020
Canada's top financial watchdog has told crypto exchanges they will be subject to securities law if they act as custodians to users' digital assets
Direct Democracy Party to Solve Issues With Crypto Rights in Russia
16.1.2020
A new political force is being born in Russia out of the country’s tech business circles. The idea has been conceived by representatives of the country’s growing digital economy sector who want to embark on finding solutions to numerous issues that concern the crypto space. Also read:...
Unnecessary Evil: How Government Regulations Kill Crypto Startups and Encourage Crime
16.1.2020
Thanks to the EU’s most recent money laundering directive, a small business called Post-a-coin, which sold cute postcards pre-loaded with tiny amounts of bitcoin, is being forced to shut down. Meanwhile, the most heinous criminals in history are continuing to facilitate violence, trafficking...
Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia
14.1.2020
In this roundup, we cover EU-wide crypto regulations and individual countries’ new digital asset rules including Austria and the U.K. We also cover numerous crypto regulatory developments in the U.S., China, Japan, South Korea, India, and the Philippines. Also read: Regs Roundup: SEC Actions...
Japan and Philippines Discuss Pro-Crypto Laws, Cooperation Among Asian Countries
13.1.2020
Japanese Minister Naokazu Takemoto and Philippine Cabinet member Raul Lambino of Crypto Valley of Asia recently met to discuss Asian countries’ crypto regulations. They urge the Philippine Congress to introduce legislation on cryptocurrencies and security tokens, calling for cooperation among...
With New Regulations, Europe’s Crypto Companies May Be Running Out of Options
13.1.2020
European crypto companies are finding themselves in a changing regulatory environment. The new realities they have to deal with stem from the fifth edition of the European Union’s anti-money laundering directive. AMLD5 introduces stricter customer due diligence requirements and some in...
EU Countries Commence Crypto Regulations as Mandated by New Directive
11.1.2020
The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs...
Dutch Derivatives Exchange Deribit to Move to Crypto-Friendly Panama
9.1.2020
Deribit will operate out of Panama starting Feb. 10, citing the Netherlands’ presumed adoption of “very strict” anti-money laundering (AML) regulations
Turkey Prepares to Increase Oversight in the Crypto Space
6.1.2020
Turkish authorities, alarmed by the spread of cryptocurrencies in the country, are reportedly ramping up efforts to introduce greater oversight into the sector. Local media revealed that regulators are under pressure to increase supervision in 2020 because of the growing popularity of decentralized...