#Regulation News

China Could Move From Digital Yuan to Regional Stablecoin with Hong Kong as the Epicenter

May 22, 2020 by Aisshwarya Tiwari at Regulation

China’s interest in blockchain and state-issued cryptocurrencies is hitting new highs each week. The country has already earmarked a blockchain zone, piloted its CBDC project, and put friendly energy regulations in place for miners. Now, a Communist Party (CCP) representative wants to push the ball further, calling for a stablecoin backed...

Putin checking out some bitcoin russia flag

Russian Government Set to Impose Fines and Imprisonment for Illegal Crypto Activities

May 22, 2020 by Anthonia Isichei at Regulation

The crypto landscape in Russia may soon be facing harsh laws as authorities have proposed new draft bills that seek to fine and imprison the illegal use of cryptocurrencies in the country. Crypto Violations Attract $28,000 Fine and 7 Years Imprisonment According to a report by the local news outlet...

Iran: President Rouhani Seeks Renewed National Crypto Strategy

May 22, 2020 by Aisshwarya Tiwari at Regulation

According to a report by Iran-based news site ArzDigital, Iranian President Hassan Rouhani has directed the national government to chalk a new strategy for cryptocurrency mining. Iranian President Calls for Clear Crypto Mining Strategy Earlier this week, Iran President Rouhani instructed the officials from the Central Bank of Iran (CBI),...

Leading Telecoms Firm Accelerating Blockchain Adoption in Europe

French Central Bank Successfully Trials Blockchain-Powered Digital Euro

May 21, 2020 by Aisshwarya Tiwari at Regulation

France’s central bank, the Banque de France on May 20, 2020, announced that it had successfully completed a trial test of the digital euro based on blockchain technology. Notably, the central bank digital currency (CBDC) test conducted by Banque de France was executed with major French multinational investment bank Societe...

Brazil: Authorities Investigating Banks that Close Crypto Exchange Accounts

May 21, 2020 by Anthonia Isichei at Regulation

The Administrative Council for Economic Defense (CADE), Brazil’s antitrust watchdog, elected to revisit the probing of some banks who closed the bank accounts belonging to local crypto exchanges. Antitrust Agency Probes Banks' Closure of Crypto Exchange Accounts According to a report by Finance Magnate on Thursday (May 21, 2020) the...

Irani National Flag with Bitcoins Strewn Across

Iran’s Crypto Exchanges Now Under the “Money Smuggling” Category

May 20, 2020 by Aisshwarya Tiwari at Regulation

Iran’s love-hate relationship with cryptocurrencies is now tilted in favor of a no-go zone, as the country just passed proposals terming the operation of crypto-services a “smuggling” activity. Local Crypto Scene Faces Battle As per reports on local publication ArzDigital earlier this week, the Irani parliament passed a proposal to...

South Korea Central Bank Report States CBDCs Could Reduce the Role of Commercial Banks

South Korea: Central Bank Conducts Research Into Global Adoption of CBDCs

May 19, 2020 by Anthonia Isichei at Regulation

The South Korea central bank, the Bank of Korea (BoK) recently released a paper detailing its research into the adoption and advancement of central bank digital currency (CBDC) across different central banks globally. Central Banks Adopt DLT for CBDC Projects In a report by the Bank of Korea published on...

Digital Identity held in the hands of someone, blockchains around, blue

Wyoming: New Blockchain Committee to Focus on Digital Identity and Property Rights Solutions

May 17, 2020 by Aisshwarya Tiwari at Regulation

According to a report by Wyoming Tribune Eagle published on May 17, 2020, Rep. Jared Olsen, R-Cheyenne, and Senate Minority Leader Chris Rothfuss, D-Laramie, have announced the formation of Wyoming’s new permanent Select Committee on Blockchain and Financial Technology. Wyoming Goes Big on Blockchain Wyoming Legislature has announced the creation...

Crypto Uptick in Asia: Singaporean Wealth Fund Joins Libra, BitGo Custody Comes to India

May 15, 2020 by Aisshwarya Tiwari at Regulation

Facebook’s digital currency project Libra added three major venture funds to its existing investors on May 14; Slow Ventures, Paradigm, and Temasek Investments. On the same day, U.S. custodian firm BitGo partnered with India’s CoinDCX to provide its users with insurance and storage solutions. Singapore’s Wealth Fund looks to Crypto...

South Korea’s Got Blockchain in its Seoul

South Korea: Blockchain R&D Fund Worth $400 Million Under Consideration by Government

May 14, 2020 by Anthonia Isichei at Regulation

Amid growing concerns of China pulling away in the emerging digital economy, South Korea’s government is set to invest $400 million in blockchain research and development (R&D) as the country looks to revamp its digital technology sector. Blockchain R&D Fund to Be Utilized Over Five Years According to ZDNet Korea,...

Mauritius Central Banker Confirms Island's Digital Currency Plans

Mauritius Is Having a Crypto Moment, Set to Launch State-Owned Digital Currency

May 13, 2020 by Aisshwarya Tiwari at Regulation

Digital currencies are being adopted at an increasing rate by several countries. While superpowers, save China, are slow to progress with the digitalization wave, some smaller nations are moving ahead with pilot projects. Mauritians Look to Digital Currency The latest to confirm the development of a Central Bank Digital Currency...

Vietnam’s Ministry of Finance Assembles Research Group to Study Cryptocurrency Policies

May 12, 2020 by Aisshwarya Tiwari at Regulation

The Vietnamese Ministry of Finance is set to assemble a research group to study and propose regulations and guidelines to manage cryptocurrencies and digital assets in the country, Vietnam+ reports May 11, 2020. Vietnam Mulls Establishing Crypto Regulations Vietnam’s Ministry of Finance is poised to introduce regulations for digital currencies...

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...

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