Regulations News

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.

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.