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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.