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Wyoming Has a Bill to Exempt Blockchain Tokens from Securities and Money Transmission Laws

U.S.: Lawmaker Proposes Securities Exemption for Crypto Tokens

May 8, 2020 by Anthonia Isichei at Regulation

A bill introduced by a lawmaker of the California Assembly is proposing an exemption of select crypto assets from California’s securities laws. Crypto Tokens May Enjoy Exemption From Securities Law in California According to a proposed bill by Democrat Ian Calderon and amended in the California Assembly on May 4,...

Silhouette Standing in the Doorway of ErisX

ErisX Subsidiary Scores BitLicense From New York Regulators

May 7, 2020 by Anthonia Isichei at Regulation

The New York State Department of Financial Services (NYDFS) granted its BitLicense and money transmitter license to Eris Clearing LLC, the clearing and settlement division of ErisX. ErisX Clearing LLC Now Licensed Money Transmitter ErisX announced the news of the approval of the BitLicense on Wednesday (May 6, 2020). With...

Bitcoin’s Biggest Question: What Happens After All Blocks Are Mined?

Iran: Bitcoin Mining Giant Receives Government License

May 5, 2020 by Anthonia Isichei at Regulation

Iranian authorities have licensed Turkish Bitcoin mining giant, iMiner, to begin operations in the country. iMiner to Operate Bitcoin Mining Facility in Iran According to a report from a local news outlet, Tabnak, in late April 2020, Iran's Ministry of Industry, Mine and Trade granted a bitcoin mining license to...

India: Cryptocurrency Exchanges Knock RBI Doors Demanding Tax Clarity

May 4, 2020 by Aisshwarya Tiwari at Regulation

Indian cryptocurrency platforms have reached out to the country’s apex bank, the Reserve Bank of India (RBI) seeking clarity around their legal status which would have a bearing on how they will be taxed domestically. This, according to a report by The Economic Times, May 4, 2020. Indian Crypto Entities...

Japanese Cryptocurrency Exchanges now Allowed to Self-Regulate Operations

Japan: FSA Recognizes Two Crypto Self Regulatory Organizations

April 30, 2020 by Osato Avan-Nomayo at Regulation

Financial regulators in Japan have officially recognized two crypto self-regulatory organizations (SRO) as Certified Financial Instruments and Exchange Associations. The move marks the latest attempt by Japan to improve its compliance standards of cryptocurrency participants in the country. Japan Gets Two Crypto SROs The Financial Services Agency — Japan’s top...

Switzerland: CMTA Introduces New Standards for Digital Assets Custody and Management

April 30, 2020 by Ogwu Osaemezu Emmanuel at Regulation

Switzerland’s Capital Markets and Technology Association (CMTA), a not-for-profit and non-governmental association focused on formulating standards for the use of blockchain technology in capital markets, has issued fresh open industry standards for digital assets custody and management. New Crypto Assets Custody Standards As stated in its press release, the Capital...

SEC Sues Shopin and its Founders for Fraudulent ICO Project

U.S.: 32 Crypto and Blockchain Bills Before Congress Could Shape America’s Digital Future

April 28, 2020 by Osato Avan-Nomayo at Regulation

Crypto regulations in the United States may become clearer in the coming years as the country’s legislature is examining more than 30 bills related to the emerging digital economy. Focus on Crypto Regulation and Tax Laws According to a Forbes report, the U.S. Congress is currently reviewing 32 pieces of...

U.S. SEC Approves Blockchain-Based Security Token Trading System

April 27, 2020 by Ogwu Osaemezu Emmanuel at Regulation

North Capital Private Securities, a firm that provides financial planning, advisory services, and discretionary investment management to its clients, has gotten the go-ahead from the United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), to launch its alternative trading system (ATS) in the region. Dubbed...

U.S.: Kentucky Finalizes Creation of Blockchain Working Group

April 26, 2020 by Aisshwarya Tiwari at Regulation

The U.S. state of Kentucky has decided to move ahead with a legislative effort that seeks to create a working group focused on blockchain technology. This, according to the Kentucky General Assembly website, April 26, 2020. Kentucky Greenlights Blockchain Working Group In the latest regulatory push for distributed ledger technology...

Report: McDonald’s, Starbucks, Subway Likely to Trial China’s Digital Yuan

April 23, 2020 by Aisshwarya Tiwari at Regulation

Popular restaurant franchises including Starbucks, McDonald’s, and Subway could be the first of the many companies that are reportedly being considered to test China’s central bank digital currency (CBDC) – the digital yuan. This, according to a report by Chinese media outlet InterChain Pulse, April 23, 2020. Digital Yuan On...

Netherlands: Central Bank Wants to Play “Leading Role” in CBDC Development

April 22, 2020 by Aisshwarya Tiwari at Regulation

On April 21, 2020, the central bank of the Netherlands – De Nederlandsche Bank (DNB) – hinted on plans for developing a Dutch central bank digital currency (CBDC). Specifically, the country’s apex bank stated that it wants to be a world leader in the development of CBDC. The Netherlands Join...

Japanese Securities Token Offering Association Lays New Regulatory Guidelines

April 21, 2020 by Aisshwarya Tiwari at Regulation

On April 20, 2020, the Japan Security Token Offering Association (JSTOA) released self-regulatory guidelines to help the citizens and the financial regulators differentiate between customer assets and electronic record transfer rights. Notably, the briefing by JSTOA comes shortly after the revisions made to the country’s Financial Instruments and Exchange Act...

Singapore: No Income Tax on Cryptocurrency Airdrops and Hard Fork Tokens, IRAS Says

April 20, 2020 by Osato Avan-Nomayo at Regulation

The Internal Revenue Authority of Singapore (IRAS) has published new crypto tax guidelines indicating a tax exemption for hard forks and airdrops. Also, the guide outlines Singapore’s tax treatment scheme for digital tokens and securities. IRAS Guide on Digital Tokens and ICOs Singapore’s tax office has issued revised policies regarding...

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