Law

cryptocurrency act of 2020

US Congressman Introduces Cryptocurrency Act of 2020

A United States congressman is the latest working to clarify and determine which U.S. regulator is responsible for which digital assets. On March 9, Representative Paul Gosar (R-AZ) introduced the “Cryptocurrency Act of 2020”, a bill that looks to choreograph a wide range of digital assets to answer to the appropriate regulator. The proposed regulatory […]

UK adds further regulation to already strict 5AMLD guidelines

UK Adds Further Regulation to Already-Strict 5AMLD Guidelines

To combat the alleged risks associated with crypto-assets and their networks, Her Majesty’s Treasury, the United Kingdom’s finance and economics department, has added additional measures. The new Money Laundering Regulations, or MLRs position the U.K’s Financial Conduct Authority (FCA) as the Anti-Money Laundering (AML) overseer for certain crypto objectives, Director of Retail and Regulatory Investigations, […]

South Korea passes law to introduce permit system for crypto exchanges

South Korea Passes Law to Introduce Permit System for Crypto Exchanges

On 5th March, South Korea’s National Assembly passed a revised bill on the reporting and use of special financial transaction information, focusing on the introduction of a permit system for crypto exchanges. Accordingly, virtual asset operators such as crypto exchanges would have to report their operations to the Financial Intelligence Unit (FIU) under the Financial […]

Supreme Court of India lifts RBI ban on banks servicing crypto firms

India Supreme Court Lifts RBI Ban on Banks Servicing Crypto Firms

The Supreme Court of India has struck down the Reserve Bank of India’s (RBI) controversial ban on banks’ dealings with crypto-related firms. The court’s bench of justices Rohinton Nariman, S Ravindra Bhat, and V Ramasubramanian delivered the judgment 4th March, litigation news site Live Law reported. Landmark ruling India’s central bank, RBI, had imposed a […]

australia's judge says crypto is a legitimate investment vehicle

Australian Judge Says Crypto is a Legitimate Investment Vehicle

Crypto is a legitimate investment in Australia says the NSW district court judge. As part of a defamation case in front of the New South Wales, or NSW district court, Judge Judith Gibson allowed cryptocurrency usage as collateral. “This is a recognized form of investment,” Gibson said of cryptocurrency, also acknowledging its volatility, according to […]