Global CryptoReg Roundup #002
The Global CryptoReg Roundup is a weekly digest of crypto-focused political, regulatory, and legal news from across the globe.
No frills or needless exposition. Just the facts (ma'am)....
Japan’s two largest crypto industry associations expected to merge in an effort to further protect traders and investors.
In the wake of the $530M Coincheck theft, Japan’s FSA announced it will conduct on-site inspections of 15 unlicensed exchanges.
- Thailand’s central bank bans financial institutions from engaging in cryptocurrency transactions.
- A committee formed by India’s seven exchanges to develop a central database identifying every buyer and seller to include tracking of all trading activity.
- Abu Dhabi’s Financial Services Regulatory Authority (FSRA) states crypto is “not legal tender," plans to draft a regulatory framework.
- Saudi Arabia’s Capital Market Authority issued a warning on cryptocurrencies, citing prevalence of fraud & volatility.
Russia drafting rules to accredit issuers of ICOs.
The president of Chechnya, Ramzan Kadyrov, purchases Bitcoin.
- Bitkoin Africa launches first Nigerian exchange in beta: BuyCoins.
- In the wake of President Zuma’s resignation amid the Zupta scandal, South African banks to leverage blockchain technology.
- Europol director estimates that roughly 4% of all criminal proceeds in Europe ($5.5 billion) are laundered through cryptocurrencies.
- Austrian authorities enlist help of Interpol to investigate “Optioment” scam, where losses may have reached 12,000 bitcoin ($115 million).
- Switzerland’s Finma announces regulatory guidelines for ICOs breaking them into three classes of offerings: payment tokens, utility tokens and asset tokens, the latter to be regulated as a security.
- Spain’s ruling party to draft legislation "to set up Europe’s safest framework to invest in ICOs".
UK (& US) government websites infected with malware to mine Monero.
The UK’s largest exchanges and crypto companies form CryptoUK, a self-regulating trade body.
- Icelandic lawmaker suggests taxing crypto mining companies.
- Credit Karma states that only .04% of federal tax filers have declared cryptocurrency gains.
Chicago trader charged with stealing $2 million in crypto from employer.
After introducing a bill to accept Bitcoin for tax payments, Arizona state legislators introduce a bill attempting to define when ICOs will be classified as securities.
Four crypto-friendly bills presented in Wyoming legislature.
- IMF head Christine Lagarde declares international crypto regulation is “inevitable”.
- US Treasury official calls for stronger international crypto regulations.
- New Jersey authorities issue a cease and desist to crypto lending platform Bitstrade.
- Purported ICO LoopX completes exit scam after raising $4.5 million.
- Plaintiffs in Bitconnect lawsuit allege that its founders also orchestrated the Onecoin ponzi scheme.
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