Regulatory Updates
UK to Restrict Crypto Services From Abroad
The UK Treasury is reportedly finalising a package of guidelines that will increase regulatory scrutiny of the crypto industry and enable the...
Brazil Approves Crypto AS a Legal Payment Method
The Chamber of Deputies, a national Parliament of Brazil, has approved a bill that legalises the use of cryptocurrencies as a payment method within...
India Will Launch a Retail CBDC Pilot in December 2022
The Reserve Bank of India (RBI) is going to conduct the retail pilot of the “digital rupee”, having previously tested the wholesale usage of its...
Hong Kong Calls for More Transparency and Stronger Supervision of Virtual Assets
The Financial Secretary of Hong Kong, Mr. Paul Chan, called for a stronger focus on transparency and proper supervision when dealing with virtual...
UK Lawmakers Vote to Recognise Crypto AS Regulated Financial Instruments
The UK House of Commons has voted to recognise crypto assets as regulated financial instruments in the country. The proposal received the lower...
Portugal to Impose 28% Tax on Crypto Income
The government of Portugal proposed a new cryptocurrency tax policy to be adopted as part of its 2023 national budget. A 28% capital gains tax will...
OECD Adopts Framework to Counter Digital Asset USE for International Tax Evasion
In light of the rapid development and growth of the crypto-asset market and to ensure that recent gains in global tax transparency will not be...
EU Parliament Approves a Non-Binding Resolution on Crypto Tax Policy
The Parliament of the European Union voted in favour of a non-binding resolution aimed at using blockchain for tax regulation purposes. The...
Australia Starts Pilot Project to Explore CBDC USE
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) are working together on a research project to explore use...
Australian Senator Proposes Bill to Regulate Stablecoins and Digital Yuan
Australian Senator Andrew Bragg has reportedly issued a new draft bill to regulate digital asset exchanges, stablecoins, and e-Yuan (China’s central...
Dubai Regulator Grants Approval to Blockchain.com
Blockchain wallet and cryptocurrency exchange platform, Blockchain.com, has reportedly received regulatory approval from Dubai’s Virtual Assets...
Thai Regulator to Apply Strict Guidelines for Crypto ADS
Thailand’s Securities and Exchange Commission (SEC) informed cryptocurrency-related businesses operating in the country that stricter regulation of...