Regulations News

Speaking at the Tsinghua Wudaokou 2024 Chief Economists Forum in Beijing, former Chinese Finance Minister Lu Jiwei urged China to carefully assess the progress and risks associated with cryptocurrencies.

Cynthia Lummis, a U.S. Senator and pro-crpypto advocate, has criticized the SEC’s approach to cryptocurrency regulations, claiming it hinders the industry’s growth.

Dubai’s Virtual Asset Regulatory Authority (VARA) is set to enforce tougher guidelines for companies promoting cryptocurrency investments within the region.

In a recent letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler, 42 US Congressmen urged the SEC to allow banks to offer cryptocurrency custody services.

Australia is ramping up its efforts to regulate the cryptocurrency sector to enhance consumer protection and curb fraudulent practices.

Turkey has decided against implementing taxes on gains from stock and cryptocurrency trading, as confirmed by Vice President Cevdet Yılmaz in a recent Bloomberg interview.

Australian regulators are preparing new laws that will require crypto exchanges to secure a financial services license, according to reports from The Australian Financial Review (AFR).

The Capital Markets Board (CMB) has introduced a new set of regulations for the cryptocurrency sector, effective immediately following amendments to the Capital Markets Law No. 7518.

Anthony Scaramucci, founder of SkyBridge Capital, announced that Vice President Kamala Harris is working on her campaign’s cryptocurrency policies, with support from crypto advocates.

U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.

Former senior officials from the U.S. Securities and Exchange Commission (SEC) are preparing to testify at a congressional hearing scrutinizing the agency’s approach to regulating cryptocurrencies.

The DLT Science Foundation (DSF) introduced the MiCA Crypto Alliance on September 16, with Hedera, Ripple, and the Aptos Foundation joining as key partners.

Circle, the company behind the USDC stablecoin, is optimistic about the mainstream adoption of stablecoins as a key component of digital finance.

Tennessee Congressman John Rose has introduced a significant piece of legislation called the “BRIDGE Digital Assets Act,” aimed at reshaping the U.S. regulatory framework for cryptocurrencies.

The recent ruling by England’s High Court of Justice has declared Tether’s USDT stablecoin as a form of property, a decision that could significantly influence its future trajectory.

Cryptocurrency exchange CEX.IO has officially recommenced its services in the UK, following a compliance overhaul to meet the Financial Conduct Authority’s (FCA) new regulations.

North Carolina’s General Assembly has successfully overridden Governor Roy Cooper’s veto to pass legislation prohibiting the use of central bank digital currencies (CBDCs) in the state.

The UAE is enhancing its crypto regulatory framework with a new partnership between its federal financial authority, the Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA).

Stuart Alderoty, Ripple Labs’ Chief Legal Officer, voiced strong criticism on September 10 regarding US regulators’ tendency to blame cryptocurrencies for money laundering issues.

Nigeria’s regulatory authority for securities is planning to take legal action against those involved in cryptocurrency activities that are not properly regulated.

Coinbase has scored a partial victory in its legal battle against the US Securities and Exchange Commission (SEC), potentially gaining access to important documents related to the agency’s classification of tokens as securities.

The UK’s Financial Conduct Authority (FCA) granted crypto licenses to just four out of 35 applicants for the year ending March 31, 2024, rejecting 87% of submissions.

Jake Chervinsky, Chief Legal Officer at VariantFund, has suggested that we might see heightened regulatory actions in the cryptocurrency sector as September ends.

South Korea’s Financial Supervisory Service (FSS) is set to crack down on virtual asset exchanges, focusing on uncovering illegal or suspicious activities.

Japan is poised to lower its cryptocurrency tax rate significantly, cutting it from the current 55% to a flat 20%.

During a private discussion at Korea Blockchain Week 2024 in Seoul, U.S. SEC Commissioner Mark T. Uyeda emphasized the need for the SEC to create a specialized Form S-1 for digital asset-related securities.

The Qatar Central Bank, along with the Qatar Financial Centre Authority and the Qatar Financial Centre Regulatory Authority, has unveiled a new regulatory framework for digital assets within the Qatar Financial Centre (QFC).

Abu Dhabi’s Financial Services Regulatory Authority (FSRA) plans to oversee fiat reference tokens (FRTs), a type of stablecoin, in response to growing stakeholder interest.

Hong Kong legislator Johnny Ng has proposed establishing a legal framework to regulate decentralized autonomous organizations (DAOs), aiming to boost the web3 sector in the region.

China has intensified its crackdown on cryptocurrency, now classifying crypto transactions as money laundering under a new legal interpretation.

The Bank of Ghana has unveiled a draft proposal for regulating digital assets and is inviting public and stakeholder feedback.

Turkey recently expanded its list of licensed crypto exchanges, adding major players such as Coinbase, KuCoin and Gate.

On Thursday, the International Monetary Fund (IMF) suggested raising electricity taxes for cryptocurrency miners by as much as 85% to address global carbon emissions.

In a notable shift, the Dubai Court of First Instance has validated the use of cryptocurrency for salary payments in employment contracts.

Worldcoin (WLD), the cryptocurrency project co-founded by Sam Altman of OpenAI, has stirred significant attention in Ecuador since its introduction in June.

During the Crypto4Harris event on August 14, Senate Majority Leader Chuck Schumer and other prominent Democrats advocated strongly for clearer cryptocurrency regulations and bipartisan support to shape the industry’s future.

WisdomTree Asset Management recently received a “Wells” notice from the U.S. Securities and Exchange Commission (SEC) regarding three of its ETFs focused on environmental, social, and governance (ESG) criteria.

In a strategic move to bolster its position as a global leader in financial technology, Hong Kong is preparing to implement stricter regulations for digital assets over the next 18 months.

Tether’s CEO, Paolo Ardoino, has raised alarms about the European Union’s new Market for Crypto Assets (MiCA) regulation, suggesting it might increase systemic risk rather than provide stability.

On August 9, 2024, the Thailand SEC launched its Digital Asset Regulatory Sandbox, aiming to drive innovation within the country’s Bitcoin and digital asset industries.

Turkey has seen a significant increase in interest from cryptocurrency companies looking to set up operations within its borders.

Russian President Vladimir Putin has signed a law that legalizes cryptocurrency mining in Russia.

A city in California is seeking state and local regulations to govern Bitcoin ATMs in order to reduce fraud and increase transparency.

U.S. senators are pushing for new legislation to expand the Secret Service’s role in tackling crimes involving digital assets.

Recent changes in Swiss stablecoin regulations, which now require Know Your Customer (KYC) checks for all stablecoin holders, have sparked significant backlash within the crypto community.

The European Securities and Markets Authority (ESMA) has raised concerns about global cryptocurrency companies seeking partial approval under the Markets in Crypto Assets (MiCA) regulation while operating largely from offshore locations.

Senator Cynthia Lummis has introduced the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024” (Bitcoin Act of 2024).

Mike Novogratz, CEO of Galaxy Digital, has shared his outlook on the cryptocurrency industry following the upcoming US elections.

Recently, misleading information spread claiming that Russia had officially adopted Bitcoin mining and cryptocurrency payments.

Justin Sun, the founder of TRON, has called on China to adopt a more favorable stance towards cryptocurrencies, echoing recent pro-crypto sentiments from U.S. presidential candidate Donald Trump.

The Swiss Financial Market Supervisory Authority (FINMA) is set to introduce new rules for stablecoin issuers to enhance regulatory control and reduce financial risks.

Tennessee Senator Bill Hagerty has announced plans to introduce legislation supporting Bitcoin, stirring excitement in the crypto community.

India’s central bank, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI) are collaborating with an inter-ministerial group to develop a comprehensive cryptocurrency policy.

HSBC Australia has implemented a ban on payments to cryptocurrency exchanges starting July 24, 2024.

Russia’s parliament has passed a bill allowing companies to use cryptocurrency for international trade.

Senator Cynthia Lummis is opposing the Biden administration’s proposed 30% tax on the electricity used by Bitcoin miners.

South Korea’s Financial Supervisory Service (FSS) has summoned the nation’s top five cryptocurrency exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—to address recent fee hikes amid new regulations.

The crypto industry is closely watching the potential for a second Donald Trump presidency as he vows to end President Joe Biden’s so-called crusade against cryptocurrencies.

Arthur Hayes, a prominent figure in the cryptocurrency space, is cautioning that the focus on crypto-friendly policies may wane once the 2024 election concludes.

South Korea’s Financial Services Commission (FSC) has rolled out a new law aimed at bolstering the protection of virtual asset users, effective from July 19.