The Global CryptoReg Roundup is a weekly digest of crypto-focused political, regulatory, and legal news from across the globe.
No frills or needless exposition. Just the facts (ma'am)....
Australian consumer protection authority receives nearly 1,300 crypto fraud complaints in 2017, citing over $1 million in alleged losses.
Self-proclaimed “Bondi bitcoin brother” acknowledges involvement in pyramid scheme, immediately walks back comments.
Japan
- Japanese crypto exchanges report 669 cases of suspected money laundering over the last 8 months of 2017.
South Korea
FSA Governor: “the government will encourage banks to make transactions with crypto currency exchanges...if normal transactions are made”.
SK crypto regulator found dead in home, reportedly from a heart attack.
Malaysia
- Malaysian firm HelloGold’s GOLDX token earns world’s first Shariah-compliant certification.
Thailand
- OmisGo (OMG) reaches deal with Thai government to develop payment and identification systems.
Bangladesh
- In the wake of a national ban on cryptocurrencies, Bangladesh police confirm they are “on the hunt” for bitcoin users.
India
- Cabinet announces support of bill to ban unregulated deposit schemes, potentially to include cryptocurrencies.
Kazakhstan
Kazkh association announces intention to develop crypto rules for Eurasian Economic Union.
Employees from Finance Ministry caught using government servers to mine cryptocoins.
Russia
A subsidiary of the state-owned VEB bank developing a system to guarantee investments in ICOs.
Local authorities at odds with the Duma over the speed & quality of proposed crypto regulation bill.
Proposal to “test” and “tame” cryptocurrencies in Crimea introduced in the parliament.
Turkey
- Turkish leaders considering the creation of national cryptocurrency: TurkCoin.
Israel
- Israeli tax authority confirms cryptocurrency to be classified as asset subject to capital gains tax.
European Union
- Crypto exchanges and wallets to be classified as within scope of EU law in the Fifth Money Laundering Directive (“MLD5”).
- European Commission Vice President Valdis Dombrovskis to chair high-level roundtable next week to discuss crypto regulation with industry leaders.
Poland
- Polish central bank finances Youtube stars to create videos about a crypto crash and issue warnings about investing in crypto assets.
Croatia
- Croatian self-regulatory group UBIK begins work on issues related to crypto taxation, ICO regulation, and mining operations.
Slovenia
- Meeting of Slovenian authorities and crypto entrepreneurs indicates cooperative tone and “favorable conditions”.
Austria
- Austria plans to develop crypto regulations modeled after existing rules on trading gold and derivatives.
Malta
- Government policy document calls for special agency to certify blockchain platforms and verify crypto transactions.
Italy
- Italy’s new crypto reporting and registration regulations to go into effect over the next three months.
Sweden
- Swedish authorities concerned over the rate at which cashless transactions are growing.
The Netherlands
- MP issues questions to the Finance Ministry, raises concerns over Tether’s relationship with Dutch bank ING.
Belgium
- Belgian financial regulator publishes list of exchanges alleged to be fraudulent.
France
- Regulator AMF declares that crypto derivatives must be regulated and are prohibited from advertising.
United Kingdom
- UK Parliament committee to examine impact of cryptocurrencies while regulations are considered.
Spain
Canada
- Increased energy demand leads Hyrdo-Quebec to consider raising rates for miners.
United States
White House Cybersecurity official on crypo regulation: “I don’t think it’s close”, while Arizona congressman acknowledges crypto is “very hard to regulate”.
New York lawmakers mulling reforms to state’s BitLicense system.
- The first two of five crypto legislation bills pass the Wyoming House of Representatives with unanimous support.
- Georgia lawmakers introduce bill to accept cryptocurrency for payment of state tax and licenses.
Mexico
- Bill to regulate crypto exchanges expected to become law within weeks.
Venezuela
- Venezuelan government officially launches oil-backed Petro token in pre-sale.
Tesla’s cloud accounts hacked to run crypto mining malware.
Microsoft Word’s online video feature exploited by hackers to run mining software.
Software glitch at crypto exchange Zaif briefly allows sale of $20 trillion worth bitcoin for $0.
Thoughts, comments, and corrections are always appreciated. Cheers!
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