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Hong Kong Regulator Announces New Plans for Cryptocurrency Industry

Hong Kong Regulator Announces New Plans for Cryptocurrency Industry

The Securities and Futures Commission of Hong Kong has announced new plans to regulate the cryptocurrency industry. The regulator issued two circulars on Thursday outlining new rules for crypto exchanges as well as crypto asset portfolio managers, intermediaries, and fund distributors.

New Regulatory Approach

The Hong Kong Securities and Futures Commission (SFC) issued two circulars on Thursday…

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Indian Officials Met to Discuss Possible Ban on 'Private Cryptocurrencies'

Indian Officials Met to Discuss Possible Ban on ‘Private Cryptocurrencies’

The Indian government is considering imposing a ban on what it calls “private cryptocurrencies” in the country.

At the 19th meeting of the Financial Stability and Development Council (FSDC) on Tuesday, the country’s finance minister Arun Jaitley discussed “the issues and challenges” of crypto assets and cryptocurrency, among other things, according to a press release issued by the government’s…

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China Seeks Public Feedback on Draft DLT Regulations

China Seeks Public Feedback on Draft DLT Regulations

The Cyberspace Administration of China (CAC) has announced that it will accept public feedback through Nov. 2 on draft rules it recently published to regulate blockchain projects, but the proposed legislation has already drawn a mixed response from distributed ledger technology (DLT) analysts.

Strict Rules for DLT Users

The CAC said it has designed the proposed rules to uphold national security…

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U.K. businesses and analysts have hit back at government plans

U.K. businesses and analysts have hit back at government plans

U.K. businesses and analysts have hit back at government plans to regulate cryptocurrencies and related technology, describing them as a “blunt instrument approach,” British daily news outlet the Telegraph reported Monday, Oct. 29.

Calls to step up the level of power the country’s finance regulator, the Financial Conduct Authority (FCA), has over cryptocurrency — which Cointelegraph reported…

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UK: Gov’t Taskforce Proposes Crypto Regulation Changes, Questions Crypto Definition

UK: Gov’t Taskforce Proposes Crypto Regulation Changes, Questions Crypto Definition

The U.K. Cryptoassets Taskforce has released a report Oct. 29 that proposes some changes for cryptocurrency regulation and raises concerns over how digital assets are traded and used.

Launched in March, the Cryptoassets Taskforce is made up of of the Bank of England (BOE) and the Financial Conduct Authority (FCA) and is charged to regulate and support crypto technologies.

Since there is no widely…

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UK Government to Update Crypto Tax Guidance By Early Next Year

UK Government to Update Crypto Tax Guidance By Early Next Year

UK officials have outlined a range of regulatory steps around cryptoassets and distributed ledger technology (DLT) in a new report.

The UK government’s “Cryptoasset Taskforce,” first announced this past March, published its final report on Monday, finding that the technology that makes up cryptocurrencies can be used to benefit the financial services sector, as well as other industries.

As such,…

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Economic Development and Trade Ministry Launches State Policy to Legalize Crypto The Economic Development and Trade Ministry of Ukraine has initiated a “state policy” for the classification and legalization of crypto-related activities, Ukrainian state information and news agency Ukrinform 

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Taiwanese Commission is drafting a set of national standards for initial coin offerings.

Taiwanese Commission is drafting a set of national standards for initial coin offerings.

The Taiwanese Financial Supervisory Commission is drafting a set of national standards for initial coin offerings. The regulator reportedly aims to make tokens as easy to invest and as liquid as stocks. The Commission emphasizes that it “has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as securities.”

The chairman of Taiwan’s…

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Chinese Arbitrator Reaffirms That Bitcoin Can Be Held, Privately Transferred as Property

Chinese Arbitrator Reaffirms That Bitcoin Can Be Held, Privately Transferred as Property

An arbitration body in China has ruled that cryptocurrencies such as Bitcoin (BTC) are legally protected as property, in a case published Oct. 25 via the arbitrator’s WeChat account.The Shenzhen Court of International Arbitration ruled in favor of an unnamed plaintiff in an equity transfer dispute, in which the defendant failed to return holdings of Bitcoin, Bitcoin Cash (BCH) and Bitcoin…

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India’s Supreme Court Orders Government to Define Policy on Crypto Within Two Weeks

India’s Supreme Court Orders Government to Define Policy on Crypto Within Two Weeks

The Indian Supreme Court on Thursday asked the Government to share its view on cryptocurrency within two weeks.

The court is addressing the multitude of petitions filed by digital currency operators against the central bank’s anti-crypto circular.

India is Two Weeks Away from Ending Policy Confusion over Crypto As Supreme Court Demands Clarification

The Reserve Bank of India’s (RBI) circular…

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Czech Bank Launches Cryptocurrency-Friendly Services

Bank Provides Access to Cryptocurrencies and Crowdfunding

Expobank CZ claims it is the first bank in Europe to offer account holders the opportunity to perform crypto-related transactions alongside traditional banking activities. The new service called Neo is based on the bank’s online platform Expobanking. It gives users full control over their financial activities, including those related to…

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Thai SEC Warns Public About Investing in Nine Unregistered Tokens and ICOs

Thai SEC Warns Public About Investing in Nine Unregistered Tokens and ICOs

The Thai Securities and Exchange Commission (SEC) has issued a warning about investing in nine digital tokens and Initial Coin Offerings (ICOs), which have not been accredited by the regulator, news outlet Bangkok Post reported Oct. 26.

The SEC reportedly initiated an investigation into digital tokens and ICOs being promoted on social media platforms for investment and found nine cases wherein…

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Bermuda Government Approves First ICO Under New Regulatory Regime

Bermuda Government Approves First ICO Under New Regulatory Regime

The government of Bermuda has awarded the first certification for an Initial Coin Offering (ICO) under the island nation’s new regulatory regime for crypto and blockchain business, the country’s only daily newspaper, the Royal Gazette reports Oct. 18.

According to the Royal Gazette, the Minister of National Security Wayne Gaines — whose office oversees ICT policy and innovation — announced…

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The SEC Is Setting Up a New Division to Talk to ICO Startups

The SEC Is Setting Up a New Division to Talk to ICO Startups

The U.S. Securities and Exchange Commission (SEC) is launching a new division with the goal of making it simpler for fintech startups – including those launching initial coin offerings (ICOs) – to navigate the legal implications of their products.

Announced Thursday, the Strategic Hub for Innovation and Financial Technology (FinHub) will act as a central point for the securities regulator to…

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Korean Government Expected to Announce ICO Stance in November, Official Says

Korean Government Expected to Announce ICO Stance in November, Official Says

The South Korean government is expected to announce its position on initial coin offerings in November, according to a high-ranking official. The decision will follow the outcome of the survey which the country’s Financial Supervisory Service recently sent out to domestic blockchain companies.

ICO Stance Expected in November

Hong Nam-ki, Chief of the Office for Government Policy Coordination,…

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UAE Securities Regulator to Introduce ICOs for Capital Markets in 2019

UAE Securities Regulator to Introduce ICOs for Capital Markets in 2019

The United Arab Emirates (UAE)’s national securities regulator plans to introduce Initial Coin Offerings (ICO) for capital markets in 2019, Reuters reported Oct. 8.

Reuters notes that the regulator has embraced the innovative fundraising model to diversify the means through which companies can raise capital, noting that in recent years, “weak” equity markets, coupled with low oil prices, have…

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The European Blockchain Partnership Finds Europe Getting Serious About DLT

The European Blockchain Partnership Finds Europe Getting Serious About DLT

On April 10, 2018, 21 EU member states and Norway signed up to create the European Blockchain Partnership. Including the UK, France, Germany, Sweden, the Netherlands and Ireland, they committed themselves to “cooperate in the establishment of a European Blockchain Services Infrastructure (EBSI) that will support the delivery of cross-border digital public services, with the highest standards of…

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