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Taiwan’s new AML laws put crypto firms on notice

[Oct 3 11:43 AM] The Taiwanese FSC has released new Anti-Money Laundering laws that will replace its current regulations and require full compliance of VASPs. 

Uruguay Passes Cryptocurrency Law

[Oct 3 4:30 AM] Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to offer cryptocurrency services. The law positions Uruguay…

Saudi Arabia Leads MENA in Crypto Growth for Second Year Running

[Sep 25 10:30 PM] Saudi Arabia has emerged as the fastest-growing crypto economy in the Middle East and North Africa (MENA) region for the second consecutive year. Unlike other MENA countries, Saudi Arabia’s and Qatar’s crypto activity primarily stems…

Kosovo receives guidance from Council of Europe on crypto crime tracing

[Sep 25 7:52 AM] Kosovo’s Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and strengthen regulations on digital currencies.

Seychelles Approves Bill on Virtual Asset Regulation

[Aug 20 2:30 AM] The Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as having a resident director and an…

Bank of Ghana unveils draft rules for cryptocurrency exchanges

[Aug 16 7:29 AM] The Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures.

Peru Issues VASP Regulation, Strengthens AML/TF Requirements

[Aug 10 9:30 PM] The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF…

Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025

[Jul 30 6:10 PM] According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second public consultation to finalize the…

Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF

[Jul 12 11:36 PM] Three-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to the latest FATF…

Nigerian SEC mandates local offices for crypto firms

[Jul 4 5:35 AM] The requirement also states that applicants must report customer complaints and emergent risks and be subject to SEC inspections, audits and monitoring.

Vanuatu expects to pass long-awaited crypto bill in September

[Jun 27 12:03 AM] A Vanuatu policy consultant tells Cointelegraph the bill had been ready for a few years but had been delayed due to several cabinet changes.

Enforcement of South Korean virtual assets law prescribed in decree

[Jun 26 12:44 PM] The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19.

Nigerian SEC announces new rules, compliance program for digital assets

[Jun 21 8:15 AM] While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date.

UK crypto industry publishes Travel Rule navigation guide

[Jun 6 4:56 AM] The Travel Rule requires crypto businesses to collect, verify and share information about digital asset transactions with another crypto company.

Central Bank of Brazil Aims to Finalize Crypto Regulations This Year

[May 21 5:20 AM] The Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish plans to regulate stablecoins and finalize the…

Taiwan proposes tougher AML measures for crypto service providers

[May 9 6:19 AM] Taiwan’s Ministry of Justice proposed four amendments to the country’s AML regulations focused on cryptocurrency firms that plan to impose hefty penalties for noncompliance.

Turkish crypto bill: 5 things to know before it’s introduced

[May 6 6:18 AM] Turkey was expected to introduce crypto legislation in early 2024, but the local parliament is yet to report on the process.

Kenya Establishes Working Group to Draft Rules Governing Crypto Entities

[Apr 26 2:38 AM] The Kenyan government recently established a multi-agency technical working group tasked with developing a framework for regulating and monitoring the cryptocurrency industry. The group, which includes financial regulators such as the Central Bank…

Fewer Than 30% of Jurisdictions Globally Have Started Regulating Crypto: FATF Chief

[Mar 28 3:24 AM] Globally, less than 30% of jurisdictions have started regulating the crypto sector as of June 2023, the Financial Action Task Force (FATF) President T. Raja Kumar told CoinDesk in an interview from Singapore.

Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground

[Mar 5 6:30 AM] Nigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence in the financial system.” The…

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

[Apr 6, 2023 1:30 PM] The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to…

Oman Capital Markets Regulator Plans to Establish a Virtual Assets Regulatory Framework

[Feb 16, 2023 6:30 AM] The Oman Capital Market Authority (CMA) has said it plans to establish a regulatory regime to govern as well as develop the country’s virtual assets market. The regulator said the envisaged regulatory regime enables it to avail an…

Binance to Increase Presence in Poland in Compliance With Local Regulations

[Jan 20, 2023 1:30 AM] Binance has unveiled intentions to broaden its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent and launch…

Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out

[Dec 1, 2022 4:30 PM] A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green…