August Regulator Roundup

120+ regulatory updates worldwide as sector catches fire in summer

Copper Team

DEX and DeFi soar, supply chains and securities boast blockchain, UK backs first cryptoexchanges and ETC hacks continue

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Global

OECD plans November global blockchain policy forum. More →

DeFi price oracle Chainlink overtakes Bitcoin Cash as fifth-largest crypto. More →

Irving Fisher Commission supports central banks including crypto use statistics. More →

AI should be used to help ID suspicious crypto transactions, says Bank for International Settlements. More →

Tron loses $1bn Tether to Ethereum in chain swap. More →

IMF chief economist sees parallel role for Bitcoin, Libra alongside CBDCs. More →

Zero CBDCs using permissionless DLT like Bitcoin, BIS finds. More →

Tighter bid-ask spreads show crypto market liquidity deepening. More →

Total value locked in DeFi doubles in 30 days to $8bn. More →

Ethereum Classic hit by three 51% attacks in a month. More →

Installing older version of Electrum wallet costs user $16m BTC in phish. More →

Monthly DEX volume soars past $11bn. More →

Europe

EU proposes crypto Single Market. More →

Germany

BaFin regulator begins closing down all unlicensed Bitcoin ATMs. More →

Ministry of Finance debuts blockchain securities bill. More →

BaFin employees traded three times more Wirecard shares before bankruptcy. More →

Gibraltar

INX cryptoexchange scales down US IPO to $117m. More →

Luxembourg

DLT included in draft law to issue ‘dematerialized securities’. More →

Russia

Rosfinmonitoring plans AI tool to deanonymise cryptocurrency transactions. More →

Telecoms regulator blocks Russia’s largest cryptoexchange aggregator. More →

Sberbank tokenises travel agent payments using blockchain. More →

Sweden

Financial Supervisory Authority warns over unregistered crypto firms. More →

Switzerland

Automated 2000BTC transaction is first compliant with FINMA AML, 3 firms claim. More →

Libra Association hires ex-DHS chief as general counsel. More →

Sygnum Bank announces first commercial stablecoin payment. More →

Turkey

Maersk-IBM blockchain adds Turkish ports. More →

UK

Archax granted FCA cryptoexchange license. More →

FCA grants UK cryptoexchange license to Gemini. More → 

Farmer demanded £1.4m Bitcoin in Tesco baby food blackmail plot. More → 

Aave granted FCA e-money institution license. More → 

Bitstamp leaves London, moves client accounts to Luxembourg. More → 

FCA plans to extend money-laundering risk reporting to crypto firms. More → 

Wirex migrates crypto debit card service from Wirecard to Railsbank. More → 

Binance joins CryptoUK SRO exec committee. More → 

Ukraine

Binance helped cyber police bust $42m crypto laundering ring. More → 

Americas

Brazil

Central bank forms CBDC working group. More → 

Canada

Robinhood rival Wealthsimple Crypto enters regulatory sandbox. More →  

BitMEX not authorised to operate in Ontario, says regulator. More → 

Mexico

Banks, not crypto, pose largest money-laundering threat, says financial crime agency. More → 

United States

District Court dismisses long-running XRP class-action suit. More → 

Cross-party Senate group asks IRS not to ‘overtax’ Proof of Stake block rewards. More →  

Grayscale Ethereum Trust files reporting company status with SEC. More → 

New York state regulator creates 10-coin pre-approval ‘greenlist’. More → 

FBI reveals it hacked ISIS, Al Qaeda to seize crypto donations. More → 

Bitfinex/Tether market manipulation class action suit rolls on. More → 

SEC charges tech entrepreneur over alleged $5m ICO fraud. More → 

Crypto-friendly Hester Peirce sworn in for second SEC term. More → 

Florida tax collector used public money to finance his blockchain company. More → 

US Postal Service blockchain patent references Ethereum. More → 

Authorities charge AirBit MLM Ponzi crypto scam operators with fraud. More → 

Pro-Bitcoin Republican wins Wyoming primary race. More → 

Winklevoss twins hire Eventus to detect illegal trading on Gemini. More →  

Steem community sues Bittrex seeking $16m. More → 

Goldman seeks Digital Assets VP to scale up crypto operations. More → 

12 crypto companies given two years license-free in Hawaii sandbox. More →

IRS asks about cryptocurrency on page 1 of new tax return. More → 

Uber security chief paid $100k in BTC to cover up data hack, says FBI. More → 

Malicious Monero miners found on Amazon cloud infrastructure. More → 

NetWalker hackers take $500k ransomware payoff from University of Utah. More → 

Bank regulator sees potential for ‘privately-issued’ CBDCs. More → 

CFTC insists Control-Finance scam director pay $429m fine. More → 

Coinbase ruling shows ‘not your keys, not your coins’ is US law. More → 

Russian national tried to bribe Nevada man for $1m to install BTC miner on company machines, court documents show. More → 

Consenys acquires JP Morgan Quorum blockchain. More → 

Binance meets Florida regulatory demands, opens door to traders. More →

Telegram gives us ‘GRAM’ trademark battle in ending crypto move. More → 

Bitgo applies to New York regulator for custodian status. More → 

Ribbit Capital VC fund files for $350m ‘blank cheque’ IPO. More → 

Democrats ask for details on largest ever terrorist crypto seizure. More →

SEC redefines accredited investor rule to open up private crypto investments. More → 

Fidelity launches inaugural Bitcoin Fund for wealthy investors. More → 

IRS sends fresh round of crypto tax warning letters to investors. More → 

Shapeshift allege ex-engineer stole $900k in Bitcoin. More →

Suspect in $850m Bitfinex fraud case holds funds in 60 bank accounts worldwide. More →

Department of Justice links 280 crypto accounts to North Korean hackers. More →

Robinhood goes on compliance hiring spree. More → 

Fed’s inflation policy shift good for Bitcoin, says macro hedge fund boss. More →

FBI thwarts $4m Bitcoin ransomware attack on Tesla. More →

Acala DeFi raises $7m Series A through SAFT sale. More →

$27m Maryland crypto scammers pose as religious foundation, SEC alleges. More →

DeFi Studio Framework Labs takes $8m seed funding. More →

Homeland Security can now track privacy crypto Monero using Ciphertrace. More →

Marc Andreesen joins Coinbase board ahead of mooted IPO. More →

Crypto earned through microtasks is taxable as income, IRS confirms. More →

Venezuela

Government pushing to accept tax in state-run Petro cryptocurrency. More →

Opposition party blocked from paying healthcare staff $17m in Bitcoin. More →

Middle East & North Africa

Iran

Power regulator shuts down 1,100 illegal cryptomining farms. More →

Saudi Arabia

National stock exchange launches first derivatives market using NASDAQ tech. More →

South Asia

Bangladesh

Fish traceability pilot launches in country’s first blockchain supply project. More →

India

OKEx launching fee-free P2P cryptoexchange. More →

Government plans to ban cryptocurrency trading, report claims. More →

Trading volume soars in massive bull run despite regulatory threats. More →

India tops list of crypto whistleblowers to SEC. More →

East Asia & Pacific

Australia

Ripple faces lawsuit over ‘PayID’ trademark. More →

Australia creates supply chain for national blockchain strategy. More →

China

Bitcoin not legal tender but never banned as commodity, arbitration rules. More →

Digital yuan should replace all currency, leading banker says. More →

CBDC cryptocurrency a way to challenge US dollar supremacy, analysts find. More →

China’s four largest banks test digital yuan CBDC. More →

Central bank tests digital yuan CBDC for small retail transactions. More →

Blockchain now powers social credit system. More →

Inner Mongolia mining farms face higher prices in gov’t crackdown. More →

Hong Kong

Regulator gives OSL approval in principle for first cryptoexchange license. More →

FTX exchange buys out BlockFolio for $150m. More →

Japan

Incoming chief regulator cautious of deregulating cryptocurrencies. More →

District Court to seize BTC, XEM stolen in $530m Coincheck hack. More →

Blockchain key to COVID-19 contract tracing, says finance minister. More →

SBI launches short-term crypto derivatives. More →

Singapore

Central bank backs SRO code of conduct for crypto companies. More →

Senior secured loan note case highlights international security token problems. More →

Central banks no longer dismissive of private digital currencies, says DBS Bank. More →

Food agency adopts blockchain tracking. More →

South Korea

Largest commercial bank Kookmin debuts crypto custody service. More →

Third-largest cryptoexchange Coinbit seized under wash-trading allegation. More →

Shinhan Bank adopts blockchain ID service. More →

LINE app launches blockchain dev platform. More →

Komid cryptoexchange execs jailed for $25m theft. More →

Thailand

Country’s largest court system develops in-house blockchain for legal records. More →

 

Africa

Regulator launches probe into MLM Bitcoin scam. More →

Nigeria

Nigerians shift wealth into Bitcoin to bypass currency devaluation. More →

Yellow Card nets $1.5m seed funding from Andreesen, Celo. More →

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