Malaysian Government Still Undecided on Crypto’s Legal Status
Jan12

Malaysian Government Still Undecided on Crypto’s Legal Status

The legal status of cryptocurrency remains an open question in Malaysia as the government has yet to make a final determination on the subject, according to recent reports from Malaysian media outlet Malay Mail.

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Coincheck Announces Registration as Cryptocurrency Exchange Agency
Jan11

Coincheck Announces Registration as Cryptocurrency Exchange Agency

Coincheck announced in a January 11 statement that the company has been formally registered as a licensed cryptocurrency exchange agency. According to that statement, the company’s registration with the Kanto Financial Bureau is effective today.

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Riksbank Warns Swedes About e-Krona Scams
Jan10

Riksbank Warns Swedes About e-Krona Scams

Sweden’s central bank, the Riksbank, recently issued a statement urging Swedish citizens to be wary of false information and scams related to its proposed e-krona central bank digital currency (CBDC). According to the bank, various scam campaigns have been presenting themselves as Riksbank-authorized e-krona sellers.

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BIS Survey: Central Banks See Little Likelihood of Wholesale Crypto Use in Near Future
Jan08

BIS Survey: Central Banks See Little Likelihood of Wholesale Crypto Use in Near Future

A recent survey from the Bank of International Settlements (BIS) reveals that central banks see little immediate wholesale use for cryptocurrencies within the next three years, the South China Morning Post reported on Tuesday. While the survey found that most of those central banks are currently researching possible uses for digital currency, a majority have no short-term plans to issue their own.

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Japan’s FSA Reportedly Exploring Interest in Crypto ETF Approval
Jan07

Japan’s FSA Reportedly Exploring Interest in Crypto ETF Approval

The Japanese Financial services Agency (FSA) is currently assessing interest in cryptocurrency exchange-traded funds, according to a January 6 report from Bloomberg. The report cites information obtained from a “person familiar with the matter” and comes on the heels of regulators’ rejection of cryptocurrency futures and options.

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Overstock Announces it Will Pay Some Ohio State Taxes Using Bitcoin
Jan05

Overstock Announces it Will Pay Some Ohio State Taxes Using Bitcoin

In 2018, the state of Ohio announced a new option to allow the state’s businesses to use Bitcoin to pay certain tax obligations. This week, Overstock announced that it will use that new option to pay the company’s Commercial Activity Tax (CAT).

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South Africa Creates Regulatory Working Group to Examine Crypto and Blockchain
Jan04

South Africa Creates Regulatory Working Group to Examine Crypto and Blockchain

South African Finance Minister Tito Mboweni confirmed that his nation’s government has created a crypto assets regulatory working group tasked with examining cryptocurrency and blockchain-related issues. according to a January 2 report from local news outlet BusinessLive. Mboweni revealed the news in a written response to a question from a member of parliament.

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NY Crypto Task Force Given Two Years to Study Crypto Issues
Jan03

NY Crypto Task Force Given Two Years to Study Crypto Issues

Last month, New York Governor Andrew Cuomo signed the Digital Currency Study Bill, which created a cryptocurrency task force to study critical issues related to regulation and use of digital currency and blockchain technology. That task force is expected to issue its report by December 15, 2020, nearly two years from now.

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RBI Reportedly Abandons Plans for Central Bank Crypto
Jan02

RBI Reportedly Abandons Plans for Central Bank Crypto

The Reserve Bank of India has “shelved” plans to develop its own central bank cryptocurrency, according to a January 1 report from Indian news outlet the Hindu Business Line. Last April, central bank officials created an interdepartmental group to study the feasibility of creating a central bank digital currency (CBDC) backed by the rupee.

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Iran Issues Warning Against Cooperation with Telegram’s Crypto Launch
Jan01

Iran Issues Warning Against Cooperation with Telegram’s Crypto Launch

The government of Iran recently warned against any “cooperation” with the launch of the Telegram messaging app’s Gram cryptocurrency, according to a report from the Tehran Times. Iran’s Secretary of Criminal Content Definition Task Force Javad Javidnia reportedly declared such cooperation a threat to the nation’s national security and a disruption to its economy.

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Italy Announces Experts for Blockchain National Strategy Group
Dec28

Italy Announces Experts for Blockchain National Strategy Group

After months of consultation and consideration, Italy’s Ministry of Economic Development (MISE) has announced the identities of the 30 experts recruited to advise the government in its efforts to develop a national strategy on DLT and blockchain technology. MISE published a list of the experts on its website this week.

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Morgan Stanley Fined $10 Million for AML and Supervisory Failures
Dec26

Morgan Stanley Fined $10 Million for AML and Supervisory Failures

The U.S. Financial Industry Regulatory Authority (FINRA) announced on Wednesday that Morgan Stanley has been fined $10 million for deficiencies in its anti-money laundering program and its failure to maintain a supervisory system capable of meeting Securities Act compliance obligations.

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Bermuda Monetary Authority Releases Draft Rules for Crypto Custody
Dec23

Bermuda Monetary Authority Releases Draft Rules for Crypto Custody

The Bermuda Monetary Authority has released a draft Code of Practice for Digital Asset Custody, designed to protect the public and provide greater clarity about the BMA’s expectations for proper custody of cryptocurrency and other digital assets, according to a press release issued on December 18.

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UPbit Exchange Executives Indicted for Fraud
Dec22

UPbit Exchange Executives Indicted for Fraud

The executives of South Korean exchange Upbit have had fraud charges laid against them by the Prosecutors’ Office of the southern district of Seoul, according to a report by Coindesk.

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Proposed Bill Would Prevent Cryptos from Being Defined as Securities in U.S.
Dec21

Proposed Bill Would Prevent Cryptos from Being Defined as Securities in U.S.

In early December, U.S. Representative Warren Davidson (R-Ohio) confirmed his intention to introduce new legislation to protect cryptocurrencies from being defined as securities. That promise was kept on December 20, as Davidson and co-sponsor Darren Soto (D-Fla.) introduced the Token Taxonomy Act, H.R. 7356.

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Monex Denies Nikkei Report on Coincheck Licensing
Dec20

Monex Denies Nikkei Report on Coincheck Licensing

In a December 19 news story, the Nikkei Asian Review reported that Japan’s Financial Services Agency committed to approving a license of the Coincheck cryptocurrency exchange. However, that report was quickly denied by Monex Group, the company that purchased Coincheck earlier this year. According to a media statement released by Monex:

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Japan’s FSA to Categorize Digital Currencies As “Crypto-Assets”
Dec17

Japan’s FSA to Categorize Digital Currencies As “Crypto-Assets”

As part of an effort to prevent people from confusing digital currencies with government-issued legal tender, Japan’s Financial Services Agency (FSA) has decided to categorize digital currencies as crypto-assets, according to reports that cite details learned by Japanese newspaper Yomiuri Shimbun.

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Bloomberg: Proposed Chinese Crypto Could Increase Beijing’s Control
Dec16

Bloomberg: Proposed Chinese Crypto Could Increase Beijing’s Control

The People’s Bank of China is reportedly considering the creation of a state digital currency and has filed more than 100 cryptocurrency and blockchain-related patent applications in the last two years. However, a new report from Bloomberg this week suggests that a national cryptocurrency in China may do little to expand freedom and opportunity for the country’s citizens. Instead, it could help the government exert even greater control over its people and the country’s financial system.

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Netherlands Proposes Licensing for Crypto Service Providers
Dec12

Netherlands Proposes Licensing for Crypto Service Providers

The Netherlands is reportedly proposing a measure that would require cryptocurrency service providers to seek licensing approval to operate in the country, according to a December 11 report from De Telegraaf.

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South African Reserve Bank Proposes Overhaul of Payment System Laws
Dec09

South African Reserve Bank Proposes Overhaul of Payment System Laws

The South African Reserve Bank (SARB) has completed a review of the country’s National Payment System Act, and published its findings and recommendations this week, according to a report from Business Insider. The bank is proposing several changes that could eventually allow a digital rand or existing cryptocurrencies to be accepted as recognized payment options and reduce the banking industry’s stranglehold on payment services.

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