We have witnessed the rise of credit cards, chip cards, and electronic payments which includes cryptocurrency. However, as the usage of cryptocurrency has increased it also resulted in some challenges. Thus, the regulation of cryptocurrencies is extremely important.
The acting secretary-general of the Thai Anti-Money Laundering Office (AMLO) Pol Maj Gen Preecha Charoensahayanon sees cryptocurrency as a new challenge of the AMLO. So, he announced the regulation of cryptocurrency in Thailand by amending the Anti-Money Laundering amendment…
Ripple, the blockchain payment network has made an open request to the US regulators for making supportive crypto regulations. It has signed an open letter to Congress making a request for fresh regulations. The letter has highlighted that it considers the importance of banks and policies for the monetary exchange system…
The Australian Securities and Investment Commission (ASIC) has announced new ICOs and crypto assets regulations. These regulations explain the legal responsibility of the firms under the Corporations Act, the ASIC Act, and other laws. According to ASIC, ICOs and crypto assets are the financial products that are supervised under the Corporation Act. To hold such […]
New crypto regulations passes to the upper house from the Japanese parliament. This information has come from the local news agency report. As per the report, emendations made to two of Japan’s financial laws, the Financial Instrument and Exchange Act and Payment Service Act. It aims to vitalize the provincial regulations of the crypto trading […]
The Govt. of Chile will soon introduce new cryptocurrency regulations for empowering the related business as well as security. The official announcement comes from Chilean finance minister Felipe Larraín. He mentions that the new cryptocurrency regulation will be beneficial to business running over various domains. The rules will be in accordance with the business models […]
The Government of India has summoned lawyers from Nishith Desai Associates who are currently opposing the crypto banking ban circular proposed by the Reserve Bank of India. The association was asked to give its suggestions for drafting the crypto regulations in India. In response, the committee has prepared and submitted a document which states that India should adopt a balanced regulatory approach to reap the benefits of the technology and escape the risks involved.
The Italian Government has published a decree dubbed as “Decreto Semplificazioni” for protection and regulation of the legal status of cryptocurrency and distributed ledger technologies. The new set of rules now considers blockchain as a legitimate tool for authentication of time of registration of contracts and documents.
The Central Bank of Bahrain (CBB) has prepared draft rules for regulation of digital assets and related aspects of the nation’s crypto industry. The CBB rules cover the implementation of a licensing regime for crypto-trading services providers. In addition, a supervisory mechanism has also been developed for companies offering crypto assets related services.
New Singapore law has come into force today. It requires all crypto firms and businesses operating in the country to get registered and licensed. Singapore Payment Service Act was first passed in early January 2020 and is enacted now. The Monetary Authority of Singapore (MAS) announces the news on Tuesday. According to the act, it […]