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Singapore Announces Stablecoin Rules, MAS to Label Regulated Tokens

[Aug 16, 2023 3:30 AM] The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated”…

French Regulator Revises Crypto Rules to Align With EU’s MiCA Law

[Aug 12, 2023 9:30 PM] France’s financial market regulator said it’s adjusting the rules for crypto companies in line with Europe’s new regulatory framework. The changes, which will enter into force next year, seek to enhance registration requirements for businesses…

Binance Pulls Out of Netherlands, Seeks to Deregister Cyprus Unit

[Jun 17, 2023 3:00 AM] The world’s largest crypto exchange, Binance, said it’s exiting the Dutch market as it has been unable to obtain registration as a crypto service provider. The news comes after Binance’s entity in Cyprus applied to be removed from the country’s…

Japan to Apply Tougher Crypto AML Regulations, ‘Travel Rule’ in June

[May 25, 2023 12:00 AM] Stricter anti-money laundering (AML) measures for the crypto sector in Japan will enter into force next month, local media reported. The new rules were adopted to align the country’s legal framework for cryptocurrencies with global standards in the…

Bill Seeks to Oblige South Korean Lawmakers to Declare Crypto Assets

[May 24, 2023 4:00 AM] A new bill requiring South Korean lawmakers to disclose their cryptocurrency holdings has been proposed in Seoul. The legislative initiative comes amid a snowballing scandal surrounding the crypto dealings of an opposition lawmaker whose case has…

FATF President Urges G7 to Lead in Shutting Down ‘Lawless Crypto Space’

[May 19, 2023 2:30 PM] It is necessary to put an “end to the lawless crypto space,” according to the head of the Financial Action Task Force (FATF). G7 nations must set an example in implementing global standards on combating money laundering, the executive insisted, as…

Pakistan to Ban Online Services Related to Cryptocurrencies

[May 18, 2023 3:30 AM] Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of…

Nearly 400 Crypto Firms Lose Their Estonian Licenses Under New Rules

[May 11, 2023 5:30 AM] The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses…

Kazakhstan Law Limiting Crypto Miners’ Consumption of Electricity Enters Into Force

[Feb 10, 2023 9:30 PM] A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different…

Bank of France Governor Calls for Mandatory Licensing for Crypto Companies

[Jan 8, 2023 1:30 AM] France has to adopt a licensing regime for crypto service providers, the head of the country’s central bank has suggested. According to the executive, the need to tighten regulatory oversight stems from the “disorder” in the industry throughout the�

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

[Dec 25, 2022 4:00 AM] The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S…

Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions

[Dec 15, 2022 8:30 PM] The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctions pressures. These businesses will be exempted from some reporting requirements as part of a regulatory relief intended to minimize the…

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans

[Dec 9, 2022 6:30 AM] The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are…

Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill

[Dec 8, 2022 1:00 AM] Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry…