August Regulator Roundup

100+ regulation and policy updates from the month of August

Copper

The month of August is all about winding down and soaking up the sun but this is crypto, and regulatory action remained rampant throughout vacation season.

The inclusion of competing crypto amendments sandwiched in the U.S. infrastructure bill causes a huge stir, Iran announced plans to bring back cryptocurrency mining, Cuba endorsed crypto for payments and revealed regulation plans, while Jamaica, Nigeria and Singapore doubled down on their respective CBDC efforts.

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Global

All Binance users now required to complete KYC registration. More

Global crypto adoption among retail investors surges 881%. More

Cryptocurrency’s surge leaves global watchdogs trying to catch up. More

Cryptocurrency traders seek damages from Binance after a major outage cost them millions. More

New global network set up to share best practice and tackle crypto fraud launches in London. More

Global crypto market will more than triple by 2030: Allied Market Research. More

Europe

EU

Majority of Europeans want their countries to regulate crypto, not the EU – exclusive Euronews poll. More

Kraken crypto exchange seeks EU License, eyes expansion in Europe. More

PayPal open for crypto trading in Europe. More

The EU’s cryptoasset tax strategy needs coordination. More

Elrond becomes first carbon negative blockchain in Europe. More

Stellar blockchain remittance corridor to power Thailand–Europe payments. More

Austria

ETC Group Extends Crypto ETP Listings to Vienna. More

France

French fund manager to launch first EU-regulated bitcoin tracker. More

Germany

German crypto startups welcome $415bn ‘Spezialfonds’ law. More

German funds’ crypto investments will pose liquidity risks, says Fitch Ratings. More

Luxembourg

Cardano’s IOHK partnered with EBU to make education in Africa more accessible. More

Netherlands

Netherlands’ Central Bank issues Binance warning. More

Russia

Russia grants $200k to build tool for tracing crypto transactions. More

Russian pyramid scheme netted over $1.5 billion in bitcoin throughout Eastern Europe, says Chainalysis. More

Slovenia

Slovenia financial agency proposes new 10% crypto tax. More

Sweden

Swedish gov’t pays out $1.5m in Bitcoin to convicted drug dealer. More

Switzerland

Worldline’s 85,000 Swiss merchants can now accept crypto at the POS. More

UK

HSBC UK blocks payments to Binance exchange. More

London court orders Binance to trace hackers behind $2.6m Fetch.ai attack. More

UK police seize USB stick with Ethereum worth $9.5m. More

FCA says it cannot supervise crypto exchange Binance effectively. More

PayPal launches its cryptocurrency service in the UK. More

UK-based independent legal team to tackle international crypto disputes. More

Americas

Argentina

Argentina open to adopting Bitcoin, says President Alberto Fernandez. More

Brazil

New Brazilian Bitcoin ETF pledges carbon neutrality. More

The largest crypto seizure in Brazil: nearly $29m worth of digital assets seized. More

Canada

Ontario securities regulator bars the country’s first registered crypto platforms from trading Tether. More

More Canadians are investing in crypto, even knowing it’s a risk. More

Cuba

Cuba set to recognise and regulate cryptocurrency. More

El Salvador

El Salvador president lays out plans ahead of Bitcoin law implementation. More

Bitcoin law protests break out in El Salvador as Central American neighbours wait to see its success. More

El Salvador to create $150m Bitcoin Trust to facilitate exchange in US dollars: report. More

El Salvador Adopting Bitcoin Is “An Inadvisable Shortcut”: International Monetary Fund. More

Uruguay

Newly-filed legislation in Uruguay aims to regulate digital assets. More

United States

Missouri mayor suggests giving residents up to $1K in Bitcoin. More

VanEck and ProShares apply to withdraw Ethereum ETF filings from SEC. More

US Kraken exchange targets European license in 2021, says CEO. More

SEC partners with blockchain analytics firm to monitor DeFi space. More

AriseCoin’s inventor embezzled more than $4m in a crypto scam, goes to prison for five years. More

Waller ‘highly sceptical’ Fed needs a CBDC. More

US cracks down on investors using digital currencies to avoid tax. More

New crypto bill in US congress is the most comprehensive yet. More

SEC Chair Gary Gensler intrigued by crypto, urges for better investor rules. More

Victory Capital files application to SEC for crypto ETF. More

New SEC boss wants more crypto oversight to protect investors. More

Invesco files with SEC for Bitcoin ETF without direct BTC exposure. More

Federal Reserve governor says private stablecoins are likely better than CBDCs. More

SEC claims first enforcement action in $30m fraud case involving DeFi project. More

Senators announce compromise on a proposed amendment to crypto definitions in the infrastructure bill. More

Poloniex settles for $10m with SEC for running unregistered crypto exchange. More

New Brazilian Bitcoin ETF pledges carbon neutrality. More

VanEck files for futures Bitcoin ETF after SEC hints at path to approval. More

Kryptoin files with the SEC to create an ETH ETF. More

US gov offers $10m in crypto to hackers to track cybercriminals. More

Novogratz’s Galaxy Digital files for a Bitcoin futures ETF. More

Binance hires former IRS official for money laundering reporting role. More

VanEck Files for ETH futures ETF in US. More

Venezuela

Venezuela to debut CBDC in October. More

Caribbean

ECCB extends digital cash to St Vincent. More

Jamaica

Jamaica’s Central Bank says it would need court order to track CBDC transactions. More

BOJ mints first batch of Jamaica’s CBDC. More

 

Middle East & North Africa

Iran

Iran’s tax authority wants to legalise crypto exchanges. More

Iran: Legal bitcoin mining can resume from the end of September. More

Crypto dealers risk breaching US sanctions when Iran resumes mining. More

Israel

Israeli intelligence agency Mossad looking for a crypto expert. More

Kazakhstan

Kazakhstan surges to third place in global cryptocurrency production, behind China and US. More

UAE

Dubai poised to benefit from cryptocurrency growth, Bittrex says. More

New crypto course to help pupils understand its role in future economies. More

South Asia

India

India plans to unveil CBDC model by year end. More

East Asia & Pacific

Australia

Aussie crypto exchange CoinJar partners with Mastercard for crypto cards. More

Record-breaking Bitcoin seizure lead Australian police back to Silk Road. More

China

Chainalysis report: China is a large player in cryptocurrency-related crimes. More

China’s crypto crackdown delivers windfall to global bitcoin ‘miners’. More

China to ‘maintain a high-pressure situation’ on crypto, official says. More

Court in China says cryptocurrency ‘not protected by law’ in ruling that could set a precedent for bitcoin lawsuits. More

Hong Kong

Hong Kong cryptocurrency crime on the rise: victims lost nearly $30m in 2021 so far. More

Japan

Ripple joins SBI remit to launch on-demand liquidity service in Japan. More

Cardano sees Japan listing after passing strict crypto regulatory checks. More

Malaysia

Binance in Malaysia ban as it ends derivatives trading in Germany, Italy, Netherlands. More

Singapore

Singapore to grant first crypto licence in bid to lure digital asset groups. More

Survey suggests an incredible 66% of Singapore population owns crypto. More

Binance confirms ex-SGX executive as Singapore CEO. More

Singapore central bank shortlists 15 companies to develop retail CBDC. More

DBS wins regulatory approval in Singapore for crypto payment services. More

South Korea

South Korea’s crypto regulation is now expanding to foreign businesses. More

Bank of Korea to pilot CBDC on Samsung Galaxy phones. More

Operator of South Korea’s largest exchange rolls out ‘Travel Rule’ solution in Singapore. More

24 crypto exchanges to close in South Korea – and 18 more could follow. More

Binance discontinues crypto products and services in South Korea. More

New South Korean regulator chief calls to not delay discussions on cryptos. More

Bithumb, Korbit, Coinone join forces to launch CODE to satisfy S. Korea’s mandate on anti-money laundering. More

Thailand

Thailand’s SEC Proposes new rules for crypto custodians. More

Thailand’s Bank of Ayudhya joins Zipmex funding round. More

Bank of Thailand to test retail CBDC. More

Vietnam

Vietnam leads crypto adoption in Finder’s 27-country survey. More

Africa

Cambodia

Cambodia links up quasi-CBDC with Malaysia. More

Ghana

Bank of Ghana to pilot CBDC with German securities printing firm G+D. More

Kenya

Kenyans lead the world in peer to peer crypto trade. More

Nigeria

Nigeria’s central bank partners with fintech firm Bitt Inc for CBDC rollout. More

South Africa

‘Crypto is not currency’ says South Africa’s Central Bank governor. More

South Africa tightens crypto taxation regulations. More

U.S. joins probe into South African crypto firm Mirror Trading. More

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