Global CryptoReg Roundup #004
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)....
- Marshall Islands developing sovereign cryptocurrency.
- Taxation Office declares it will utilize new AML laws to investigate crypto investor tax cheats.
The Financial Service Agency is considering implementation of regulations on ICOs.
Additional 132 investors join the class action lawsuit against Coincheck in aftermath of NEM hack.
Crypto exchange industry association officially announces formation, to ask government recognition as approved regulatory body.
- Former NSA official: DPRK is believed to have obtained at least 11,000 bitcoin through mining and hacking in 2017.
- Regulators planning to investigate bank and financial payment accounts of those suspected of trading crypto via offshore venues.
- China targeting chat groups as part of larger crypto crackdown.
- New crypto regulations go into effect, mandating exchanges follow KYC/indentification rules.
- Central bank examining whether more regulation is necessary.
- Two widely-used crypto exchanges suspend all trading amid regulatory pressures.
- The President of Uzbekistan decreed that government ministries should draft a law legalizing crypto by the end of September.
Court rules that cryptocurrency can’t be seized as payment to bankruptcy debtors.
Tax exemption proposed for all profits from crypto mining.
Saint Petersburg court struck down a bank on 40 bitcoin-related informational sites.
Ministry of Telecom and Mass Communication proposes setting up fiat exchange for miners.
- Iran’s Information Minister announces that it is working to develop its own cryptocurrency.
- Israeli Supreme Court: banks are prohibited from limiting accounts associated with the crypto industry.
- Kenya is setting up task force to evaluate blockchain tech advantages & risks.
- Alleged scam at BTC Global results in $50 million in losses, primarily for South African investors.
- Central Bank again reaffirms that crypto currencies and exchanges are not licensed or regulated, and that citizens should be wary.
- EU financial services chief: EU may move ahead on crypto regs if global bodies do not.
- Finance Ministry Report addresses taxable events for bitcoin transaction and miners.
- Bank Frick & Co. becomes first financial institution in Liechtenstein to allow direct investments in crypto.
- Multiple investigations of crypto traders underway by Special Tax Inspectorate.
UK poised to regulate crypto in a way that will be “advantageous to all stakeholders”.
Labour Shadow Home Secretary: Bitcoin is “a gigantic Ponzi scheme” used to fund terror.
BOE head calls for crypto regulations.
- A 100% renewable energy crypto mining facility planned for Iceland.
TD Bank becomes the latest financial institution to ban crypto purchases via credit card.
Crypto scams were the #5 financial crime in Canada last year.
- SEC subpoenas issuers of ICOs, SAFTs including TechCrunch founder, and is conducting a review of Overstock’s tZero ICO.
Coinbase to turn over account info of 13,000 users to IRS.
CFTC head allows employees to trade crypto.
The city of Berkeley, CA is developing a plan to turn municipal bonds into digital currency.
- Man who claimed to be Satoshi Nakomoto sued for stealing $5 billion from dead business partner.
- New York state senators hold a roundtable with industry leaders on reforming state’s BitLicense system.
- Crypto regulation bill passes Chamber of Deputies, awaits signature by President Nieto.
Trinidad & Tobago
- T&T Securities and Exchange Commission issues warning to investors that no regulatory protections are in place for ICOs.
- Venezuela may limit the number of domestic crypto exchanges to just eight.
- The Financial Action Task Force (FATF), an organization of 35 countries and EU, is working to revise regulations on cryptocurrencies, focusing on AML and terrorist funding.
Indian police arrest man for setting up a fake trading platform.
Waltonchain comes under fire after apparent rigged giveaway is revealed.
CoinDash announced that a hacker returned approx. 30,000 ETH tokens, valued at $26 million.
Hackers steal 18.7 BAR tokens, force a fork of Titanium blockchain.
- rTorrent client misconfigruation vulnerability exploited to mine Monero.
- Analyst: NEM (XEM) coins stolen from Japanese exchange Coincheck traced to Vancouver-based exchange.
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