Tag Archives: Regulations

The Panamanian Legislative Assembly has passed a bill regulating the commercialization and use of cryptocurrencies. Once signed by the President, it will enable residents of the country to pay their taxes and civil debts using multiple digital assets. A Rival to El Salvador? Gabriel Silva – the 32-year-old Panama congressman behind the bill – announced its passing on Thursday, after it received approval in its third debate. He said the law will help make Panama “a hub for...

Madison Cawthorn, a Republican congressman from North Carolina, has been accused of his involvement in a pump and dump crypto scheme dubbed Lets Go Brandon (LETSGO). According to a recent report by the Washington Examiner, several regulatory watchdogs have implicated Cawthorn in an alleged insider trading scheme involving the relatively short-lived crypto project. Let’s Gо Crypto Pump and Dump Scheme Let’s Go Brandon is a memecoin named after the chant mocking President Joe...

The Cuban central bank – the Banco Central de Cuba (BCC) – is all set to issue licenses for cryptocurrency and other virtual asset services providers (VASPs). The Gazette revealed that they will be for one year, with the option to be extended for one more. As per the resolution published in Official Gazette No. 43, BCC will grant licenses to national and foreign individual human beings and organizations. With the new system in place, BCC stated that the approved licenses will...

The upper house of the National Congress of Brazil – the Federal Senate – reportedly approved the bill that could serve as a regulatory framework for the local cryptocurrency industry. The legislation needs to receive a green light from the Chamber of Deputies before becoming live. Senate Said ‘Yes’ The largest nation in South America is gradually moving towards establishing rules on its digital asset ecosystem. A local report reads that the Senate passed a bill to set up a...

Rug pulls have grown to become a menace in the space of decentralized finance and have resulted in hundreds of millions stolen from users. Being amongst the most common types of scams, some US politicians have taken aim and want to outlaw them. State Senator Kevin Thomas and Assembly member Clyde Vanel have introduced Senate Bill S8839. The bill calls for penalizing, defining, and criminalizing frauds that are specifically targeted at developers and projects designed to dupe...

Blockpass, a digital identity verification provider partnering with various crypto wallets and exchanges, has started offering KYC services to Cardano’s commercial arm, EMURGO. Cardano-based addresses will be added to the Blockpass App, and projects can directly access on-chain KYC services, if needed, to comply with regulatory requirements. Positioned as the axis of the Cardano ecosystem, EMURGO is responsible for developing the community’s NFT marketplace Fibo, Yoroi...

The French president has been known for his ambition of making the country a “startup nation” that is friendly to new technologies and appealing to talents and capital. When campaigning for his second bid for the presidency, Emmanuel Macron expressed his favorable opinions toward Web 3.0 and the Metaverse while maintaining that regulation led by public authorities is necessary for ensuring the sector’s long-term success. Proud of the made-in-France crypto unicorns like Ledger...

The U.S. government has just sanctioned the first cryptocurrency mining company, which also happens to be from Russia. This comes a day after the IMF warned that Russia could potentially evade economic sanctions by mining cryptocurrencies. On April 20, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned BitRiver, a cryptocurrency mining company based in Moscow, prohibiting any business relations with U.S. citizens. According to the statement,...

The Korea Fair Trade Commission (KFTC) is reportedly ready to impose tougher regulations on Dunama – the parent company of the country’s largest crypto exchange, Upbit – by classifying it as a “large enterprise.” The authority deems firms with more than 5 trillion won ($4.03 billion) assets subject to stricter regulatory scrutiny, requiring them to “disclose information on major intracompany dealings, board decisions, and shareholders.” Dunamu held 10.15 trillion won (US$8.19...

Once considered an attractive country for Chinese Bitcoin miners after the country’s crackdown on any BTC mining activity, Kazakhstan now seems to be set to creating new taxes that will negatively impact the industry. On April 14, the Minister of National Economy, Alibek Kuantyrov, said in a government briefing that his team is working on a tax plan that would link tax payments to the valuation of the mined tokens. According to Kuantyrov’s statement, first reported by...