Regulatory

Ripple, a blockchain-based digital payment network, has made a proposal for South Korea to make clear distinctions in cryptocurrencies between payment tokens, utility tokens, and security tokens, in a policy paper released on Tuesday. Read related article: Amid SEC lawsuit, Ripple buys back stock and raises value to US$15B Fast facts Ripple’s policy paper says […]

ICOs, revamped taxation, and investor protection reverse a past crypto reluctance under the incoming administration.

The U.K. financial regulator has warned that it can suspend or cancel a firm’s crypto asset registration after noticing Binance’s new payment venture Bifinity’s partnership with Eqonex. See related article: Binance launches fiat-to-crypto service Bifinity Fast facts The Financial Conduct Authority (FCA) said on Monday that individuals or entities from Binance may have become beneficial […]

As China’s Two Session’s meetings begin, ‘Metaverse’ enters the Chinese government’s radar. And while the invasion of Ukraine continues, Singapore announces new sanctions on Russia.

Regulation is urgently needed to govern data security and curb speculation as the metaverse industry develops, delegates say.

Moscow moves to regulate crypto. OpenSea’s security struggle. Will China cool its metaverse mania?

The high court of China’s southeastern Guangdong province has ruled cryptocurrency investment activities are not protected by law, further clarifying that crypto is not a legitimate currency in the mainland.  See related article: China customs seizes 49 second-hand crypto mining rigs for export Fast facts The Guangdong high court on Tuesday listed a crypto-related virtual […]

Although India hoped that taxation would be a step toward regulation rather than a ban, the high tax rates and proposed rules seem to be geared toward dissuading crypto trading.

Israel’s capital market watchdog is asking major cryptocurrency exchange Binance for clarifications on its services in the country and licenses under which it operates, local media reported Thursday. See related article: Binance US under probe for ties with trading affiliates: report Fast facts Binance has stopped all Israel-focused activities and marketing, the Globes reported, citing […]

President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg […]

The rapidly growing crypto market could pose a threat to global financial stability, according to a Financial Stability Board (FSB) report published on Wednesday. Fast facts The FSB, an international body that monitors and makes recommendations about the global financial system, identified vulnerabilities related to unbacked assets such as Bitcoin, stablecoins such as USDT and […]

India’s crypto tax plan was expected to bolster adoption, but the central bank’s hold on the banking sector puts a check on crypto-related services.

Russia’s Ministry of Economic Development proposed to greenlight crypto mining in regions with steady electricity surplus, local media reported on Tuesday, days before Friday’s expected crypto regulation draft. Fast facts The ministry also suggested introducing taxes for realized profits on liquidated cryptocurrencies earned through mining. Last week, Russia’s central government agencies reached an agreement to […]

South Korean crypto exchange GOPAX revealed Tuesday it has partnered with Jeonbuk Bank to provide clients with real-name withdrawal and deposit accounts, qualifying the exchange to offer cash-to-crypto services. Fast facts After registering its new partnership with Korea’s Financial Intelligence Unit (FIU), GOPAX is set to become the fifth digital asset exchange that offers Korean […]

A South Korean financial watchdog announced it will strengthen monitoring of new trade assets, including non-fungible tokens (NFTs), in its annual work plan released on Monday. Fast facts The Financial Supervisory Service (FSS) said it will prepare countermeasures against factors that cause damage to consumers in the rapidly growing digital assets market. Earlier this month, […]

Union minister Bhagwat Karad said on Saturday that cryptocurrencies are not legal in India and that their future is uncertain at the moment.  Fast facts Many investors and exchanges had viewed a decision to impose a 30% tax on cryptocurrency profits as a step toward validating the industry. Finance minister Nirmala Sitharaman, however, clarified last […]

As stablecoins face pressure to adopt traditional safeguards, the industry’s efforts to self-regulate should not be overlooked, writes Charlie Martin of Gro.

The announcement of a crypto tax dispelled fears of a ban but left exchanges wondering whether they may be hurt in the long run.

Russia’s central government agencies reached an agreement to regulate cryptocurrencies by mandating licenses for exchanges and taxing large transactions on Tuesday, shelving concerns of a blanket ban proposed by the central bank last month.  Fast facts Russian business newspaper Kommersant reported the government and the Bank of Russia are preparing a draft law by Feb. […]

The Hong Kong government intends to propose a licensing system for crypto exchanges, according to a discussion paper published on Monday. Fast facts The proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing bill will designate any crypto exchange as a “regulated virtual asset activity” and any person who seeks to engage in this work […]

A prominent Russian lawmaker has proposed a personal income tax rate of at least 15% for crypto miners, according to local media reports, as the country continues to debate regulations for the industry. Fast facts Vladimir Gutenev, who chairs an industry committee at the Duma, parliament’s lower house, said at a Friday briefing that mining […]

Indian crypto exchanges are experiencing a surge in trading volume since finance minister Nirmala Sitharaman announced a 30% tax on crypto transfers at the budget session of parliament on Tuesday.  Fast facts Binance-owned WazirX’s 24-hour trading volume has soared by 56.26% while its WRX token price jumped 25.3%, as of press time.  The trading volume […]

Crypto regulations are lagging the market’s needs, and the industry should help create order to gain greater public trust, writes Imgesu Cetin of Defy Trends.

Lawyer for 63,000 XRP investors invites non-US investors to demand a congressional investigation of the SEC for impropriety.

Thailand has axed plans to apply a 15% withholding tax on crypto transactions after a backlash from crypto traders within the country, the Financial Times reported. Fast facts Last week, Thailand’s financial authorities announced plans to tighten regulation on the industry — including the 15% tax — aimed at limiting the widespread adoption of digital […]

The recent crypto price plunge has done little to rattle new investors. Are they just buying the dip, or is there more to it? Q9 Capital’s James Quinn explains.

Russian Ministry of Finance against the latest crypto ban, meanwhile in Korea, there are plans to protect metaverse users.

The Russian finance ministry called for the regulation of cryptocurrencies on Tuesday, opposing the central bank’s proposal last week to ban crypto mining and usage. Fast facts Ivan Chebeskov, director of the finance ministry’s financial policy department, told Russian outlet RBC that a ban on crypto transactions and mining could hamper the country’s growth in […]

The amount of cryptocurrency used in money laundering activities increased 30% in 2021 compared to the year before, but represents a smaller portion of total transactions, according to an annual crypto money laundering report by Chainalysis, a blockchain data analytics firm.  Fast facts Cybercriminals laundered US$8.6 billion worth of cryptocurrency last year, with the total […]

Boston Consulting Group (BCG), one of the Big Three global management consulting firms, says the South Korean crypto market will be worth around 1,000 trillion won (about US$835 billion) in 2026, while calling for a brand new regulatory framework. Fast facts The number comes from BCG Korea’s Future of Asset 2022 report, which said South […]

Thailand’s financial authorities have unveiled a plan to issue regulations that would “limit the widespread adoption of digital assets as a means of payment for goods and services” in a bid to protect the country of 70 million people. Fast facts Thailand’s Securities and Exchange Commission (SEC), Ministry of Finance (MOF) and The Bank of […]

Crypto regulations run the gamut from wait-and-see to total prohibition. What are the dos and don’ts of smart regulation?

A survey of more than 1,000 digital respondents found 79% of Indians want more clarity on cryptocurrency and non-fungible token (NFT) regulations in the budget session of Parliament starting on Jan. 31, according to new survey findings.  Fast facts The survey, conducted by tax and advisory firm Grant Thornton Bharat, also found that 61% of […]

A federal judge on Monday has given the U.S. Securities and Exchange Commission (SEC) until Feb. 17 to fight her earlier order to turn over to the defendant Ripple Labs certain sensitive government documents in the agency’s lawsuit alleging the XRP token is an unregistered security. Fast facts Ripple and XRP investors initially believed they […]

Despite Singapore’s reputation as a crypto-friendly hub, the truth is more complicated. Is the city-state purposely keeping out small companies?

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

South Korea envisons itself becoming a top metaverse leader, while Russia’s central bank proposes crypto ban.

Top blockchain and crypto news: Asian governments target crypto. Managing MATIC. China’s expanding metaverse.

The Indian government may not introduce a much-anticipated crypto bill in the upcoming parliamentary budget session, according to a report by the Economic Times of India.  Fast facts The government is reportedly seeking to reach consensus with industry stakeholders before proposing legislation.  The government may also be waiting for the Reserve Bank of India to […]

India Prime Minister Narendra Modi called for collective and synchronized global action to tackle the challenges posed by cryptocurrency. Fast facts Speaking at the 2022 World Economic Forum’s annual Davos conference on Monday, Modi said: “The kind of technology cryptocurrency is associated with makes decisions taken by one country inadequate to meet the challenges posed […]

Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.

If 2021 was a breakout year for crypto, this year may mark a similar advance for regulation of the industry, says Caroline Malcolm, Chainalysis’ new policy chief.

The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]

India may soon get its first Bitcoin and Ethereum futures exchange traded funds (ETFs) pending approval by a financial regulator.  Fast facts India INX, the international arm of BSE (formerly Bombay Stock Exchange) and Torus Kling Block Chain IFSC have jointly sought regulatory approval for a Bitcoin and an Ethereum Futures ETF, according to a […]

Online influencers may be improving crypto-financial literacy for millions of people. But regulators have growing concerns.

Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.

Pakistan’s central bank has recommended that all cryptocurrencies should be officially banned in the country, according to multiple local media reports, in response to an ongoing lawsuit before a provincial high court.  Fast facts In a report submitted on Wednesday to the Sindh High Court, which is hearing a case on cryptocurrencies, the central bank […]

The current technologies in use do little to deter crypto money laundering, writes Dr. Mark van Staalduinen. What can nations do about this?

China’s top economic planning body has officially designated crypto mining as “obsolete,” reinforcing government efforts to stamp out the industry entirely.  Fast facts

The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?

Christopher Giancarlo, AKA CryptoDad, expects legislators to get comfortable with crypto in 2022 and take a progressive approach to regulation

Yuval Rooz of enterprise blockchain company Digital Asset Holdings, predicts traditional banks like JPMorgan and Goldman Sachs will tokenize more assets to provide more privacy and scalability.

In South Korea, a new presidential administration will be chosen in March. Here’s where the four major candidates stand on Korea’s booming virtual asset space.

A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.

From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?

Court overturns Korean Bitcoin ruling, also are the days numbered for SWIFT?

An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.

Blockchain promotes trust and can greatly cut transaction costs, writes Edmund To of GSBN. So why is the shipping industry still clinging to paper documents?

Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?

Delay likely for India’s crypto bill, none the less 2021 becomes crypto’s landmark year.

The report says the country’s crypto industry could swell by up to 30 times its current size in the coming decade.

Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?

Chief business officer of the first SEC-registered digital security says crypto companies got caught with their hands in the cookie jar.

India’s proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?

Tough measures in India’s crypto bill meanwhile, NFTs are becoming a hot Christmas gift

As part of a broader attempt to address Australia’s payments industry, the government offers a roadmap to where crypto regulation can lead in 2022.

Crypto crash hits Korean game developers, also how to spot Rug-pull’s red flags

Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?

A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.

Sohn Byung-doo, chief executive officer for Korea Exchange (KRX), urged South Korea to prepare an institutional infrastructure as virtual assets have become a major investment asset in the country. Fast facts In his speech at the 2021 Global ETP Conference, Sohn insisted that the “virtual asset market is no different from the capital market in […]