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The International Organization of Securities Commissions (IOSCO) has issued nine policy recommendations on Dec. 19, aiming to promote greater consistency in regulatory oversight within and across jurisdictions. While the recommendations cover fundamental principles, such as enforcing applicable laws, their value lies in the detailed treatment provided for each. The guidance emphasizes assessing regulators' powers, tools, and resources, especially in emerging areas like decentralized finance (DeFi), to address potential regulatory evasion strategies by market participants. (Source: Cointelegraph)

Chainlink has announced strategic initiatives to bridge the gap between traditional finance (TradFi) and blockchain technology. The crypto oracle provider plans to expand the Cross Chain Interoperability Protocol (CCIP) for seamless cross-chain transactions, supporting the virtual tokenization of Real World Assets (RWAs). Chainlink also introduced Chainlink Data Streams, providing low-latency data to decentralized applications (dApps), and Chainlink Functions, allowing smart contracts to connect to any API for enhanced utility and customizability. (Source: Cryptopolitan)

China's General Administration of Press and Publication (GAPP) has proposed guidelines for the online games industry, including a ban on converting in-game tokens to legal tender. The draft guidelines also suggest stricter regulations, requiring companies to obtain a license in China, store customer data for up to two years, ensure content compliance with national values, and eliminate opportunities for anonymous user registration. (Source: Coingape)

The Central Bank of Nigeria (CBN) has lifted banking restrictions on virtual asset service providers (VASPs) that were imposed in 2021. While banks in Nigeria are still prohibited from holding, trading, or transacting in virtual currencies, they can now facilitate crypto transactions under the new rules. The move provides legal recognition to VASPs under Section 30 of the Money Laundering Act of 2022, aligning with FATF regulations for mitigating money laundering and terrorism financing risks. (Source: Coindesk)

Bulgarian authorities have reportedly closed the money laundering investigation against crypto lender Nexo, citing a lack of evidence of criminal activity, tax offenses, or computer fraud by the company's executives. The investigation, which also looked into alleged tax offenses, banking without a license, and computer fraud, focused on four Nexo executives. The Prosecutor's Office stated that the products offered by Nexo do not constitute financial instruments. (Source: Coindesk)

Coinbase has obtained the Virtual Assets Service Provider (VASP) approval from the French regulator Autorité des Marchés Financiers (AMF). This approval enables Coinbase to offer cryptocurrency custody and trading services to both retail and institutional investors in compliance with French financial regulations and European Union laws. The company sees this as a significant milestone in its efforts to expand services across Europe. This announcement comes alongside Circle, another stablecoin issuer, also securing regulatory approval in France. (Source: Cryptopolitan)

A set of rules governing inter-exchange deposits and withdrawals is set to take effect in Hong Kong on New Year's Eve, creating hurdles for local crypto users. Hashkey Pro, a Hong Kong-based cryptocurrency exchange, outlined the new regulations, including expedited verification processes for clients with the same name account. However, clients will need to provide Know Your Customer (KYC) information and account screenshots for deposits and withdrawals from other exchanges. The Travel Rule applies only to third-party exchanges, not self-custody wallets. Non-compliance may result in reversed transactions and additional fees for users. (Source: Cointelegraph)

Argentina's minister of foreign affairs, international trade, and worship, Diana Mondino, announced that the recent "Bases for the Reconstruction of the Argentine Economy" decree, aimed at economic reform and deregulation, includes provisions allowing the settlement of contracts in Bitcoin and other cryptocurrencies. The decree, effective since December 20, permits debtors to choose payment in currencies not recognized as legal tender in Argentina. While not explicitly mentioning crypto, the decree opens the door for broader currency choices, including Bitcoin, marking a significant development for cryptocurrency adoption in the country. (Source: Cryptopolitan)

The Shanghai branch of the Bank of China has successfully conducted the first-ever settlement of precious metals using the digital yuan. Collaborating with the Shanghai Gold Exchange, the bank finalized a $14 million transaction, marking a significant milestone for the Chinese central bank digital currency (CBDC). The move emphasizes China's commitment to promoting the digital yuan and positions Shanghai as an international financial hub. (Source: Bitcoin.com)

El Salvador's Congress has approved a new migration law, championed as a "vital interest" by President Nayib Bukele, allowing foreigners to obtain expedited citizenship by donating Bitcoin to the country's development projects. The program, limited to 1,000 participants annually, offers citizenship to those making altruistic contributions without specifying a minimum donation. The initiative aims to attract foreign investors, requiring participants to invest $1 million in either Bitcoin or Tether, with the goal of injecting $1 billion into El Salvador's economy. (Source: Benzinga)

Elon Musk has revealed plans for X to launch in-app payment services by mid-2024 during a conversation with Cathie Wood of ARK Invest. Musk mentioned that the timeline is subject to approval for various money transmitter licenses, indicating the platform's expansion into payment services. However, the prospects of cryptocurrency integration into X's payment services remain uncertain. (Source: Cointelegraph)

The Federal Deposit Insurance Company (FDIC) has announced updated rules for bank signage and advertising, addressing both the cryptocurrency industry and potential misrepresentations in traditional banking. The new regulations aim to ensure clarity and transparency in promoting financial products and services, with specific considerations for the evolving landscape of cryptocurrency. The broader implications of these rules emphasize the need for accurate representation in advertising, impacting both the crypto and traditional banking sectors. (Source: Coingape)