crypto regulation

US Department of Treasury meets with crypto leaders to discuss industry challenges

US Treasury Meets with Crypto Leaders to Discuss Industry Challenges

The United States Department of the Treasury met with prominent figures from the cryptocurrency space to discuss regulatory challenges. The Treasury announced on 2nd March 2020 that it along with industry thought crypto leaders and compliance experts discussed the supervision of crypto assets. Secretary of the Treasure Steven Mnnuchin said that the U.S. welcomes responsible […]

Iranian general calls for use of crypto to evade sanctions

Iranian General Calls for Use of Crypto to Evade Sanctions

This week an Iranian general called for a unique way to bypass the sanctions on his country enforced by the United States. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps, called for Iran to use cryptocurrencies to evade economic sanctions. According to the Telegram channel of Coinit.ir, a crypto news organization based in Iran, […]

new zealand proposes to free crypto from some taxes to promote growth

New Zealand to Free Crypto from Some Taxes to Promote Growth

New Zealand’s tax authority has issued new proposals in regard to crypto on the Goods and Services Tax (GST)-related policy and is seeking public feedback on the issue. On Feb 24, New Zealand’s Inland Revenue Department (IRD) released a paper, which includes proposals on the improvement and simplification of tax invoice requirements and exclusion of […]

New Jersey introduces bill to regulate cryptocurrency at state level

New Jersey Introduces Bill to Regulate Cryptocurrency at State Level

The New Jersey state legislature is now considering a new bill that would require cryptocurrency businesses to obtain a proper license to operate. Assemblywoman Yvonne Lopen proposed the Digital Asset and Blockchain Technology Act on Feb 20. The legislation would establish new requirements for virtual currency businesses and create consumer-friendly protections by requiring crypto firms […]

tether

Tether to Track Stablecoin Network Activity with Chainalysis Suite

Chainalysis is rolling out a global compliance solution for Tether (USDT). The announcement just happens through a press release. As a result, the stablecoin’s issuer is now able to identify “high risk” transactions occurring on its network. The tracking is possible via Chainalysis’ Know-Your-Transaction (KYT) suite which allows token issuers to monitor the activity of […]

crypto regulation in Italy

Italy’s Regulator Shuts Down 8 Crypto Trading & Foreign Exchange Sites

Italy’s securities regulator has shut down six foreign exchange websites and two crypto investing and derivative trading sites. According to Finance Magnate’s Feb 10 report, the Commissione Nazionale per le Societa e la Borsa (CONSOB) has accused these 8 FX sites of violating the Mifid2 and the Consolidated Law on France (TUF) for providing illegal […]

FINMA wants to bring stricter AML rules for crypto transactions

FINMA Wants to Bring Stricter AML Rules for Crypto Transactions

The Swiss Financial Market Supervisory Authority (FINMA) suggests a plan to bring stricter anti-money laundering rules for crypto transactions. As per the proposal, crypto transactions of over 1,000 Swiss Francs will require client identification as opposed to the current limit of 5,000 francs. FINMA said the new limit is due to heightened money laundering risks […]

blockchain in india: digital rupee

Blockchain Adoption in India: Draft Calls for State-Run Digital Indian Rupee

Blockchain adoption in India takes a new turn. A breeze of India’s inhabitant plan on blockchain and distributed bill record suggests an executive bank digital banking (CBDC), a digital Indian rupee, and an inhabitant blockchain. The National Institute for Smart Governance (NISG) is a non-profit open physique from the Govt of India. NISG recently publishes […]

Singapore Law requires crypto firms to be licensed in the country

New Singapore Law Requires Crypto Firms to Be Licensed in the Country

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 […]

cryptocurrency act of 2020

Cryptocurrency Act of 2020 by US Lawmakers to Bring Regulatory Clarity

The Cryptocurrency Act of 2020 is a draft bill first brought in front of the House of Representatives by U.S. Congressman Paul Gosar (Republican Arizona). The proposed bill aims at bringing regulatory clarity to the cryptocurrency sector. According to the copy obtained by Forbes, the bill seeks to clarify which federal agencies should regulate cryptocurrencies […]