Introducing the first edition of the Global CryptoReg Roundup, a weekly digest of crypto-related political, regulatory, and legal news from across the globe.
No frills or needless exposition, "just the facts, ma'am"...
Japan
- In the wake of the Coincheck/NEM $530M hack, Japanese regulators plan to ramp up onsite exchange inspections.
South Korea
South Korean exchange Coinpia is forced to suspend trading. They were unable to open a bank account accepting South Korean Won after failing to comply with new de-anonymity rules.
The Supreme Court of South Korea will rule on whether recently-introduced crypto regulations are consitutional.
Prime Minister Lee Nak-yeon states that closing crypto exchanges is "not a serious consideration now", however it remains "one of the many possibilities."
Hong Kong
- The Securities and Futures Commission of Hong Kong issued warnings to seven exchanges not to trade cryptocurrencies that are legally securities, leading some exchanges to cease offering tokens to investors.
China
- After attempts to halt crypto trading domestically, Chinese authorities will ramp up measures to ban access to foreign exchanges and ICOs.
Thailand
- Thailand's Finance Minister confirmed crypto will remain legal, and that a a regulatory framework will be finalized within a month's time.
Singapore
- Singapore may be reconsidering whether a regultory framework for crypto and ICOs will be drafted.
India
- After initial reports of a crytpo ban in India, government leaders walked back the idea while announcing that work on a legal framework is in process.
- India Taxation authority sent 100,000 notices to residents that failed to declare crypto investments on their tax returns.
Armenia
- Proposed legislation in Armenia would legalize crypto mining and incentivize miners via tax breaks
Ghana
- Ghana issues its first official digital currency: Finchcoin.
European Union
European Central Bank (ECB) leader states that regulating crypto "not exactly very high on our to-do list" while the European Securities and Markets Authority states that crypto will top their agenda in 2018.
Meanwhile, ECB Exec Yves March compares Bitcoin to tulips; states it is not money; and equates it to a Ponzi scheme.
Italy
- BitGrail loses $170 million of Nano/RaiBlocks coins in hack. Bitgrail and Nano teams point the finger at each other.
Spain
The central bank of Spain issued a warning on the risks associated with crypto and ICOs while noting that no currencies or ICOs have registered with regulatory agencies.
Meanwhile, government officials have pushed for legislation to encourage investment while remaining in compliance with anti-money laundering rules.
Gibraltar
- Gibraltar to usher in first ICO regulations, to include “the concept of regulating authorized sponsors, who will be responsible for assuring compliance with disclosure and financial crime rules”.
Canada
- Canadian regulators are pushing Google to ban crypto and ICO advertising following Facebook’s decision to ban them.
United States
- Regulatory heads from the SEC & CFTC testified before Senate Banking committee. For a detailed breakdown of the hearing, check out this Steemit Deep Dive from yours truly.
World Bank Group President Jim Yong Kim claims "the vast majority of cryptocurrencies are basically Ponzi schemes".
Agustin Carstens, head of the Bank for International Settlements (BIS), described crypto as "a combination of a bubble, a Ponzi scheme and an environmental disaster". He added: "[I]f authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability"
France & Germany push for global action on cryptocurrencies at next G20 meeting
- DavorCoin received a Cease and Desist Order from the Texas State Securities Board. DavorCoin promised a "monthly interest rate up to 48%" and promotional structure similar to BitConnect, offering "‘special bonus rates for leaders and promoters,’ inciting others to recruit new investors in exchange for monetary reward."
|| @bubbleboy ||
![Steemit Bloggers](https://steemitimages.com/0x0/https://steemitimages.com/DQmYhhQejEA2pV2iAoMDotLaAuxdvXgichD6ddXkbFJGfKy/steemitbloggers.gif)
![Appreciator](https://steemitimages.com/DQmT23Akd2EGD5njf6BTmjpSKxkXeQVXLoRhzabCm7xwMuz/appreciator_small.png)
Animated Banner Created By @zord189
Nice roundup @bubbleboy. Do you speculate in cryptos yourself?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks! Yes, I dabble a little, mostly in the big ones: Bitcoin, Ethereum & Litecoin. And Steem of course!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thx for the reply. I asked as I'm looking to tie in with some traders here on steemit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm going to have to keep a closer eye on Ghana. I wonder when blockchain technology will be used to keep property ownership records; I heard that's a major problem in African countries. And isn't funny that the globalist keep decrying how bad cryptos are; I think someone is scared of losing control.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Absolutely. I expect the international central bankers to be the biggest FUD-spreaders week in and out because, as you stated, crypto is the biggest threat to their influence over the financial world order.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
One of the best reports I've come across, thank you @bubbleboy!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you @cryptonik!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice coverage on the round up @bubbleboy
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for collecting all the news together. I didn't even realize how much crypto news I read about and came out this week.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great round up!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wow, very informative! Glad i found this.. following u to see more ;)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks! New one drops today.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well i will be stopping over to read and upvote it 😉
Makes my life so much easier! So thanks again..
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received gratitude of 1.29 % from @appreciator thanks to: @bubbleboy.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Coins mentioned in post:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @bubbleboy! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice news round up.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
3.93% @pushup from @bubbleboy
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You got a 4.31% upvote from @adriatik courtesy of @bubbleboy!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
At a point I wondered if there will be any good crypto news.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit