Regulations News

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.

The European Union has announced new regulations for classifying digital assets and cryptocurrencies under the Markets in Crypto-Assets Regulation (MiCA).

Argentina is moving to regulate its rapidly growing cryptocurrency sector with a new law aimed at addressing money laundering and other risks.

The Greek government is gearing up to introduce a tax framework for cryptocurrencies and digital assets, which are currently not formally recognized.

The Bank for International Settlements (BIS) has introduced new regulations that could significantly impact stablecoins like Tether’s USDT and Circle’s USDC, both of which operate on public blockchains.

South Korean lawmakers have proposed pushing back the implementation of cryptocurrency capital gains taxes until 2028, citing current negative market sentiments.

Amid recent discussions on social media suggesting a potential reversal, China’s stance on Bitcoin remains a contentious topic within the cryptocurrency community.

The Securities and Futures Commission of Hong Kong (SFC) has issued warnings against seven cryptocurrency trading platforms for operating illegally without proper licenses in the region.

The State Duma’s Financial Markets Committee has recommended that the lower house of the Russian parliament approve a bill to regulate Bitcoin and altcoin mining activities.

After a decisive election victory on July 4, the UK Labour Party, under Prime Minister Keir Starmer, has begun appointing officials to key government roles.

The US House of Representatives recently attempted to overturn President Biden’s veto of a measure aimed at nullifying SEC guidance known as SAB 121.

In a renewed effort, a group of bipartisan U.S. senators is advocating for legislation to prevent members of Congress from engaging in stock trading.

Amidst recent turbulence in the crypto market, the spotlight is firmly on the SAB 121 Bill, an initiative by the SEC aimed at increasing transparency and regulatory oversight within the cryptocurrency sector.

During a hearing in front of the House Committee on Financial Services, Federal Reserve Chair Jerome Powell expressed strong support for passing stablecoin legislation before the end of 2024.

The Republican Party, led by former President Donald Trump, has unveiled a platform supporting cryptocurrency innovation, detailed in a document from the Republican National Committee.

Italy’s central bank is gearing up to enforce the MiCA regulation, aiming to uphold the stability of the payment system.

Democratic Congressman Ro Khanna has organized an exclusive roundtable discussion focused on cryptocurrency in Washington, scheduled to include notable figures such as Mark Cuban, Brad Garlinghouse, and Anthony Scaramucci.

The House of Representatives is set to vote on President Joe Biden’s veto of Statement of Accounting Bulletin 121 (SAB 121), a decision that has sparked significant controversy.

The European Banking Authority (EBA) is extending its Travel Rules guidelines to include crypto service providers and their intermediaries, effective December 30 under Regulation (EU) 2023/1113.

The US Securities and Exchange Commission (SEC) has intensified its scrutiny of the cryptocurrency sector, now targeting venture capital firms within the industry.

The Danish Financial Supervisory Authority (DFSA) is taking steps to eliminate unhosted Bitcoin (BTC) wallets as part of its updated guidelines on decentralized funding (DeFi).

Bipartisan support for cryptocurrencies is on the rise in the US government, significantly influencing future regulation and policy.

Wang Yang, Vice President of the Hong Kong University of Science and Technology, comments on the implications of China’s cryptocurrency policies.

Cryptocurrency exchange Bitstamp is preparing for the full implementation of the European regulation on cryptocurrency markets (MiCA) by removing Tether’s stablecoin, Euro Tether (EURt), which is pegged to the euro, from its platform.

The US state of Louisiana has reportedly passed a bill in support of Bitcoin that aims to protect access to the asset and limit central bank digital currencies (CBDC).