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April 2022

SEC comes around on Bitcoin ETFs

Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.

China’s Communist Party wants to regulate NFTs

The Economic Daily, a mouthpiece of the Chinese Communist Party, called for stricter regulation of “digital collectibles” as investors continue to speculate in non-fungible tokens (NFTs). See related article: Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’ Fast facts See related article: WeChat bans NFT accounts, citing ‘crypto speculation’

Singapore tightens regulations on crypto, again

Singapore on Tuesday passed a law requiring virtual asset service providers to be licensed if they do business overseas, according to Bloomberg.  See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts The new legislation is an attempt by The Monetary Authority of Singapore (MAS) to ensure that it has adequate […]

UK to regulate stablecoins for payments in crypto hub push

The U.K. has released a detailed plan to regulate stablecoins as payments along with an intention to create a blockchain sandbox to mark Her Majesty’s entry into the “crypto hub” race. See related article: UK regulator may cancel Eqonex’s registration over Binance, Bifinity ties Fast facts The government plans to amend the Banking Act 2009 […]

Is Singapore retreating from its global crypto hub ambitions?

Singapore’s approach may seem increasingly anti-crypto to some, but not to those tracking its policies closely. Danny Chong of Tranchess explains what’s going on.

Yi He: Binance will take the arrows for industry compliance, security

Pioneers take arrows. No one knows it better than Binance. The world’s biggest cryptocurrency exchange by volume wants to set the industry standard when it comes to compliance and security as past missteps hold it in good stead.

South Korean banks seek green light on crypto

The Korea Federation of Banks (KFB) may request South Korea’s incoming presidential administration to approve local banks servicing cryptocurrencies, according to a leaked draft report. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts KFB, the largest body representing domestic lenders, wrote in its report that banks should be permitted to […]

European Union to track all crypto transfers

European lawmakers have voted to introduce new legislation designed to stop illicit flows amid industry pushback claiming the measures will stifle innovation and infringe on privacy. See related article: EU votes against de facto Bitcoin mining ban Fast facts The proposal requires crypto service providers to collect information on senders and beneficiaries in all crypto […]

March 2022

Binance wants to play ball with regulators

Binance is racing to anchor its sprawling global operations as regulators in China, where it was founded in 2017, go after firms for lax know-your-customer practices.

Mt. Gox may return Bitcoin worth over $6 billion, Karpeles says

The Japanese trustee for Mt. Gox is likely to distribute the remaining trove of Bitcoins held by the defunct cryptocurrency exchange sooner than later, former CEO Mark Karpeles tells Jake Adelstein in an exclusive interview for Forkast.

Killing it softly or regulating to innovate? India at the crypto crossroads

India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.

DeFi, NFT access at stake as FATF travel rule takes effect in South Korea

Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.

S.Korea tosses travel rule private wallet compliance to exchanges

South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]

Thailand bans Bitcoin and crypto payments

Cryptocurrency payments will be banned in Thailand starting April 1, the Securities and Exchange Commission (SEC) announced on Wednesday.  See related article: Thailand eases crypto tax burden until 2023 to promote industry Fast facts The SEC said price volatility, lack of customer safeguards, money laundering and cyber theft risks drove the decision to ban cryptocurrencies […]

Malaysia ministry: adopt crypto as legal tender to engage the young

Malaysia’s deputy minister of its Communications and Multimedia Ministry told the parliament on Monday the country should consider adopting cryptocurrencies like Bitcoin as legal tender, local media The Star reported. See related article: Will El Salvador’s lead on Bitcoin inspire others to follow suit? Fast facts Zahidi Zainul Abidin, the deputy minister, said the communications […]

Australia may regulate DAOs under senator’s proposed act

Australian senator Andrew Bragg called for “urgent” regulation of decentralized autonomous organizations (DAOs) under the nation’s Corporations Act as part of his Digital Services Act proposal at Blockchain Week Australia on Monday.  See related article: ​​New crypto regulation — including tax reform — coming to Australia Fast facts DAOs can replace companies and are therefore […]

New crypto regulation — including tax reform — coming to Australia

Sweeping reforms are coming to Australia’s crypto sector, including a new tax system, additional protections for investors, and regulation for crypto exchanges and brokers. See related article: Australia on track for a crypto boom by 2030, EY report says Fast facts The Australian government will release documents relating to the regulation on Monday as it […]

Binance wins crypto license in Dubai days after FTX

Binance has received a virtual asset license in Dubai to offer services to qualified investors, as the world’s largest crypto giants continue their Middle East drive.  See related article: Binance wins license in Bahrain, explores acquisition of Brazilian brokerage Fast facts The license will allow Binance to operate within Dubai’s “test-adapt-scale” model and serve pre-qualified […]

Indonesia’s crypto scene is booming. What are the risks?

Crypto’s growing popularity is also leading to more fraud and abuses, writes Ronald Molenaar of ADVANCE.AI. What can be done to better protect users?

China lashes out at crypto fraud on World Consumer Rights Day

No more Burger King, Nike and Muji. This year’s annual focus on marketplace abuse names and shames crypto scams.

Binance wins license in Bahrain, explores acquisition of Brazilian brokerage

Binance has obtained a license from the Central Bank of Bahrain to operate as a crypto service provider, marking a significant step for the crypto exchange to expand in the Middle East. See related article: Binance eyes gaming, e-commerce in upcoming acquisition spree Fast facts Binance will be allowed to offer crypto trading, custodial and […]

UK regulator may cancel Eqonex’s registration over Binance, Bifinity ties

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 […]

China discusses the metaverse; Blockchain community comes together

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.

‘Metaverse’ enters government radar at China’s Two Sessions

Regulation is urgently needed to govern data security and curb speculation as the metaverse industry develops, delegates say.
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February 2022

Russia retreats from crypto ban as it pushes rules for industry

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

Law can’t cover crypto losses, China court reiterates

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 […]

India needs to make up its mind over crypto

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 added to Binance’s list of global regulatory trouble spots

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 […]

Crypto assets, stablecoins pose risk to global financial stability: FSB

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 […]

Russia may tax Bitcoin miners, create hotspots: report

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 […]

Fifth S.Korean crypto exchange crosses regulatory finish line

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 […]

Cryptocurrencies are not legal in India, future uncertain: Union minister

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 […]

Will the growing regulatory heat on stablecoins stifle innovation?

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

Indian crypto tax creates more confusion than clarity for traders, exchanges

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

Crypto to be OK’d for circulation in Russia, as ban concerns fade

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. […]

Hong Kong to propose bill to license crypto exchanges

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 […]

Russian lawmaker suggests minimum 15% tax for crypto miners

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 trading volumes surge since tax news

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 adoption may rise as industry self-regulates

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.

Non-US XRP investors petition for congressional investigation of SEC

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

Thailand scraps proposed 15% crypto withholding tax after backlash

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 […]

January 2022

When the going gets tough, the tough get their wallets out

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 against crypto ban; Korea plans metaverse protection

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

Russia’s finance ministry calls for crypto regulation, not ban

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 […]

Cybercriminals launder $8.6B in 2021, up 30%: Chainalysis

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 […]

Thailand to regulate cryptocurrency as payment method

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 […]

How to avoid regulatory pitfalls in an increasingly ‘cryptoized’ world

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

Survey: India wants crypto regulation clarity from Parliament

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 […]

SEC wins time to resist crucial document handover to Ripple in XRP lawsuit

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 […]

Where does Singapore’s crypto policy go from here?

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

Crypto market tumbles amid uncertainty over Russia and Ukraine

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

Korea plans metaverse leadership; Russian bank proposes crypto ban

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

Crypto clampdowns mount in Asia as authorities ponder bans

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

India crypto bill likely delayed again

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 PM calls for global ‘common thinking’ on crypto regulation

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 […]

Up to code: Bringing digital assets into the regulatory architecture

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.

Fed nominee looks to Congress for guidance on US digital dollar

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 […]

Crypto ‘finfluencers’ are attracting a new following — of regulators

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

Hong Kong outlines stablecoin regulation plan to check financial stability risks

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 recommends ban on crypto, reports say

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 […]

Arming up for a better fight against crypto-related crime

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

China officially labels crypto mining as ‘obsolete’

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

Is the CFTC expanding its powers over crypto without authorization from Congress?

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?
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Former CFTC chair predicts Congress will push back on SEC’s crypto regulation

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

TradFi will push the envelope in 2022

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.

Crypto is presidential election campaign issue for South Korea

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.
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December 2021

South Korea crypto exchange underdogs: Where are they now?

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?

What lies ahead for crypto regulations in 2022

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?

Will 2022 be the year of crypto regulation?

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

Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling

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

Australia on track for a crypto boom by 2030, EY report says

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

US SPAC’s refusal to merge with Hong Kong crypto firms raises questions

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?