Regulations News

A judge in Shanghai’s People’s Court recently clarified China’s legal stance on virtual currency through an article on the court’s WeChat account.

South Korea’s Democratic Party is moving forward with plans to implement a tax on crypto profits by 2025 but has proposed a significant adjustment to the tax rules.

Major Jason Lowery, a US Space Force officer and author of Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin, has applied for a position as a military advisor within the Department of Defense.

As Taiwan’s cryptocurrency market experiences significant growth, financial regulators are under pressure to revisit the country’s tax laws, which currently struggle to capture digital asset profits.

A U.S. federal judge ruled on November 18 that members of decentralized autonomous organizations (DAOs) could be held liable for the actions of other members under state partnership laws.

Russia is advancing its approach to cryptocurrency regulation with newly proposed amendments aimed at taxation.

The European Banking Authority (EBA) has unveiled a set of guidelines aimed at ensuring that payment service providers (PSPs) and crypto-asset service providers (CASPs) comply with EU and national sanctions when facilitating fund or crypto transfers.

As the United States pushes forward as a crypto-friendly hub, China could soon find itself under pressure to rethink its restrictive stance on digital assets.

Italy’s government has revised its proposed cryptocurrency capital gains tax increase, lowering it from 42% to 28%.

US Senator Cynthia Lummis is optimistic that her proposal to create a national Bitcoin reserve will gain traction within the first 100 days of Donald Trump’s second presidential term.

Following Donald Trump’s re-election, a16z crypto is reassuring founders that the evolving regulatory landscape will bring greater clarity to the sector.

Norway’s central bank, Norges Bank, has backed the EU’s Markets in Crypto-Assets Regulation (MiCA) as it considers a central bank digital currency (CBDC).

In July 2024, Turkey implemented the “Law on Amendments to the Capital Markets Law,” commonly referred to as the “cryptocurrency law,” marking a significant step in the country’s efforts to regulate the digital asset sector.

During Kenya’s Taxpayers’ Day on November 1, the government announced it had collected $77.5 million in cryptocurrency taxes over the past year.

Mike Novogratz, the CEO of Galaxy Digital, has publicly endorsed Hester Peirce as an ideal candidate for the next U.S. SEC Chair, highlighting her ongoing advocacy for clearer, more crypto-friendly regulations.

Circle CEO Jeremy Allaire believes that stablecoins are on track to become a globally regulated financial infrastructure.

In a recent interview with CNBC, Ripple co-founder Chris Larsen expressed optimism about a significant shift in the regulatory landscape for cryptocurrencies.

Italian Minister of Economy and Finance Giancarlo Giorgetti has defended the government’s plan to increase the capital gains tax on cryptocurrencies like Bitcoin from 26% to 42%, pushing back against critics at a World Savings Day event on October 31.

British Finance Minister Rachel Reeves announced on October 30 an increase in capital gains tax rates for assets like stocks and cryptocurrencies.

Recent developments from Russia have sparked concerns in the cryptocurrency sector. The country has recently permitted the use of Bitcoin (BTC) and other cryptocurrencies for international transactions.

Hong Kong plans to license digital asset exchanges by the end of 2024 after a five-month review of crypto platforms, as announced by Eric Yip, Executive Director for Intermediaries at the Securities and Futures Commission (SFC), during Fintech Week.

Europe’s upcoming Markets in Crypto-Assets Regulation (MiCA), effective December 30, poses significant challenges for stablecoin issuers by requiring them to hold at least 60% of reserves in European banks.

The SEC’s stringent regulations on cryptocurrencies are drawing significant backlash, especially from Nic Carter, who criticized the agency’s policies for pushing investors toward meme coins.

India’s approach to cryptocurrencies and central bank digital currencies (CBDCs) is sparking debate, with some suggesting CBDCs could have advantages over private cryptocurrencies.

Russian President Vladimir Putin recently signed a new law on cryptocurrencies that expands the legal framework for their mining and related infrastructure across the country.

On Thursday, the Netherlands launched a public consultation on a proposed law that would require crypto service providers to disclose user data to tax authorities.

This tax will apply not only to cryptocurrencies purchased after that date, but also to assets acquired as early as January 2009, when the first Bitcoin block was mined.

Vietnam has officially unveiled its National Blockchain Strategy, as announced by the Ministry of Information and Communications (MIC) on October 23.

India is considering a ban on Bitcoin and other cryptocurrencies to prioritize the development of its Central Bank Digital Currency (CBDC).

Nickson Omondi, head of the digital economy tax division at the Kenya Revenue Authority (KRA), announced plans for a real-time tax collection system integrated with cryptocurrency exchanges.

During DC Fintech Week, Tether’s CEO, Paolo Ardoino, called for rational cryptocurrency regulations in the U.S.

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), recently highlighted the challenges of regulating artificial intelligence (AI) and cryptocurrencies in the financial sector.

The UK’s Financial Conduct Authority (FCA) has defended its strict cryptocurrency regulations in response to claims they may hinder innovation.

Indian regulators are considering a ban on private cryptocurrencies like Bitcoin and Ethereum, emphasizing the benefits of Central Bank Digital Currencies (CBDCs).

Yuichiro Tamaki, leader of Japan’s Democratic Party for the People (DPP), has introduced a proposal to lower the tax on cryptocurrency gains to 20%, should his party come into power.

A free zone in the UAE specializing in digital assets, is set to roll out a new legal framework aimed at decentralized autonomous organizations (DAOs).

The UAE’s Central Bank has taken a significant step by granting initial approval to AED Stablecoin, setting it up to potentially be the first officially regulated dirham-pegged stablecoin in the region.

Ireland is poised to formulate new cryptocurrency regulations as it anticipates upcoming European Union mandates on anti-money laundering and counter-terrorism financing.

ESMA has called for updates to the EU’s Markets in Crypto-Assets Regulation (MiCA), emphasizing the need for regulatory adjustments.

Italy is set to raise the capital gains tax on Bitcoin and other cryptocurrencies to 42%, according to Vice Economy Minister Maurizio Leo, who announced the move during a press conference regarding the nation’s 2025 budget, as reported by Il Sole 24 Ore.

The Kenya Revenue Authority (KRA) is set to upgrade its outdated tax collection system to improve efficiency and transparency.

Binance’s latest report, “Overview of Global Stablecoin Regulation,” highlights the varied regulatory frameworks for stablecoins worldwide.

U.S. Vice President Kamala Harris has introduced a new economic plan focusing on cryptocurrency regulation and support for digital assets as she prepares for the upcoming elections, where pro-crypto Republican Donald Trump is leading in the polls.

A U.S. Securities and Exchange Commission (SEC) commissioner has voiced concerns about the agency’s current direction regarding cryptocurrency regulation.

On October 10, South Korea’s Financial Services Commission (FSC) announced the establishment of a Virtual Asset Committee to consider the approval of cryptocurrency exchange-traded funds (ETFs).

Dubai’s Virtual Assets Regulatory Authority (VARA) is intensifying its oversight of cryptocurrency businesses, targeting those that are unlicensed or flouting marketing regulations.

Thailand’s Securities and Exchange Commission (SEC) is proposing new regulations to allow mutual and private funds to invest in cryptocurrency products, addressing growing institutional interest.

Hong Kong’s Securities and Futures Commission (SFC) plans to approve more cryptocurrency exchanges by year-end, according to CEO Julia Leung.

The Federal Tax Authority (FTA) of the UAE has announced updates to the Executive Regulation of Federal Decree-Law No. 8 of 2017, which oversees value-added tax (VAT).

Coinbase is set to remove all stablecoins that fail to meet regulatory standards in the European Economic Area (EEA) by the end of the year as part of its compliance with tightening EU regulations.

Mark Cuban, the billionaire entrepreneur, expressed concerns about SEC Chairman Gary Gensler’s regulatory approach, claiming it could have prevented the collapses of FTX and Three Arrows Capital (3AC).

The International Monetary Fund (IMF) has once again turned its attention to El Salvador, urging the nation to enhance its regulatory framework regarding Bitcoin.

Turkish investors are closely monitoring the topic of cryptocurrency taxation, but Treasury and Finance Minister Mehmet Şimşek has made it clear that taxes on stocks and cryptocurrencies are not currently under consideration.

The Bank of Russia plans to monitor all cross-border cryptocurrency transactions over the next six months, involving 19 major banks such as Citibank, MTS Bank and Raiffeisenbank.

Popular crypto exchange Gemini is set to shut down all Canadian accounts by the end of 2024, providing customers a 90-day window to withdraw their assets.

Amid escalating regulatory challenges in the U.S., many cryptocurrency founders are considering geofencing as a last-resort strategy for compliance.

Zhu Guangyao urged the government to reconsider its strict crypto ban, especially as the US adopts more favourable policies towards digital assets.

Japan’s Financial Services Agency (FSA) is preparing to reevaluate its crypto regulations, aiming to create a more investor-friendly environment by 2025, according to a Bloomberg report from Sept. 25.

Ohio State Senator Niraj Antani has proposed a new law that would allow residents to pay taxes and fees using Bitcoin and other cryptocurrencies.

Ki Young Ju, CEO of CryptoQuant, emphasized the importance of regulation for the future growth of Web3 and the cryptocurrency space.