Regulations

British Security Think Tank’s Report Warns NFTs Could Bolster Money Laundering Schemes

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The Royal United Services Institute (RUSI), the British defense and security think tank, questions whether or not non-fungible token (NFT) assets can be used for money laundering purposes. The report determines that in order to mitigate the money laundering risks a…

Putin Warns Cryptocurrencies Carry Risks, Admits They May Have Future

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Russian President Vladimir Putin has again spoken about cryptocurrencies, noting the “high risks” associated with the virtual assets. However, the Russian leader has also acknowledged that digital currencies may have a future and it’s necessary to follow their development. Russia’s Putin…

Eurosystem Approves New Oversight Framework Concerning Crypto Services

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The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for…

Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

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Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian…

Kazakhstan Senate Adopts Legislation Subjecting Crypto Platforms to Financial Monitoring

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The Senate in Kazakhstan has approved amendments aimed at preventing the legalization of illicit funds which will affect companies dealing with digital assets, among others. The new legislation subjects crypto service providers to the country’s financial monitoring regime. Senators Back Law…

Kazakhstan Imposes Purchase Limits on Retail Crypto Investors

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Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets. Investors in…

Digital Transformation Committee Recommends Amended Ukrainian Crypto Law for Adoption

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The law “On Virtual Assets,” Ukraine’s attempt to regulate its growing crypto space, has been revised again and recommended for final adoption. A key parliamentary committee has given its support for the bill which was vetoed by the Ukrainian president this…

BNY Mellon Urges Ireland to Adopt Crypto Rules Before EU Regulations, Report Reveals

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As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to…

Australia Needs Regulations to Facilitate Crypto Business, Senate Committee Reports

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A Senate committee in Australia has made a number of proposals to address the lack of proper regulations for the cryptocurrency space. The lawmakers believe the country needs new rules for its fintech and digital asset industries to be able to…

Estonia Considers Revoking Crypto Licenses as Government Mulls Tougher Regulations

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Authorities in Estonia are working on new legislation expected to stiffen the rules for the country’s cryptocurrency sector. The Baltic nation’s regulator for the industry is considering whether to revoke previously issued crypto licenses and restart authorization from scratch. Licensed Crypto…