May Regulator Roundup

100+ regulation and policy updates from the month of May

Copper

Environmental concerns around crypto mining took centre stage in May, following rumblings from China about a fresh clampdown on the sector, Iran temporarily banning crypto mining for straining the grid, and Elon Musk and Michael Saylor forming the Bitcoin Mining Council – a renewable energy initiative for the trade.

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Global

About 80% of Central Banks are exploring CBDC use Cases, Bison Trails report says. More

Europe

European Central Bank CBDC survey finds privacy is the number one concern for Digital Euro. More

Austria

Austrian Post combines NFT and NFC tech for digital postage stamp. More

France

France rejects Russian request to extradite BTC-e operator Alexander Vinnik. More

Ireland

Top Irish central bank official voices concern over crypto boom. More

Netherlands

Dutch Central Bank reverses decision on tighter checks for crypto withdrawals. More

Dutch regulators unsure of number of crypto investors in Netherlands. More

Norway

Norway’s minister of climate Sveinung Rotevatn is a Bitcoin ‘hodler’. More

Russia

Russian officials consider partial lift on crypto payment ban. More

Spain

Spanish healthcare group to accept cryptocurrency payments, citing interest in ‘Bitcoin revolution’. More

Spain to oblige investors to report their overseas crypto holdings. More

Spain to share data of users from domestic crypto businesses with European Union countries. More

Sweden

Swedish crypto broker Safello’s IPO oversubscribed by 1,240%. More

Sweden moving forward in e-krona CBDC trials. More

Switzerland

Swiss asset manager Valour launches Cardano and Polkadot ETPs. More

Swiss Sygnum Bank to offer custody for Internet Computer token. More

Turkey

Turkey adds crypto trading platforms to list of firms covered by AML regulations. More

Turkey jails six suspects connected to the Thodex fraud. More

Turkish government to track crypto transactions over $1,200. More

Turkish crypto exchange acknowledges 2018 data breach with 500k users’ data stolen. More

Turkish customs confiscate over 500 smuggled Bitcoin mining rigs. More

UK

BOE’s Bailey says only buy crypto if ready to lose it all. More

BoE deputy governor says a CBDC is ‘probable’ if public money is to survive. More

UK MP pressures Rishi Sunak over delays to FCA crypto register. More

Crypto firms not meeting AML standards, says UK minister. More

Bitcoin ETP takes Swiss route to UK after cautious London response. More

UK ad organisation bans crypto exchange’s ‘time to buy’ Bitcoin advert. More

Massive bitcoin mine discovered in UK after police raid suspected cannabis farm. More

NatWest launches ‘urgent’ cryptocurrency scam alert. More

Ukraine

‘Legalise crypto,’ urges Ukrainian Cybercrime Chief. More

 

Americas

Latin American e-commerce giant MercadoLibre discloses treasury Bitcoin buy. More

Algorand is powering the first blockchain-based COVID ‘passport’ in Latin America. More

Brazil

Central Bank of Brazil Issues Guidelines for Its CBDC. More

Canada

Canadian publicly-listed payment company Nuvei to acquire crypto payments processor Simplex for $250m.More

Bank of Canada: Crypto highly risky despite institutional adoption. More

Canadian Bitcoin ETFs rattled by crypto tumult. More

Mexico

$2.2bn Bitso becomes first crypto unicorn in Latin America. More

United States

Miami to host largest cryptocurrency conference in history. More

Binance under investigation by DOJ and IRS: report. More

US sanctions agency OFAC to rely more heavily on Chainalysis. More

US Fed, OCC and FDIC to set up interagency team for crypto regulations. More

Diem says it will ‘fade out’ stablecoin if Fed issues CBDC. More

Grayscale becomes ‘crypto sponsor’ of NFL team New York Giants. More

US banks to allow Bitcoin trading in 2021, say NYDIG execs.

Court orders Kraken to provide IRS data on user transactions higher than $20k. More

VanEck files for Ethereum ETF with SEC. More

Agricultural fund provider Teucrium files with SEC for Bitcoin ETF. More

Digital asset hedge fund One River files with SEC to create a carbon-neutral Bitcoin ETF. More

Cboe files proposal to list Fidelity Bitcoin ETF with SEC. More

SEC starts scrutiny of Skybridge and Fidelity’s Bitcoin ETF bids. More

US Treasury calls for businesses to report crypto transfers of more than $10k to the IRS. More

US regulators must collaborate on ‘regulatory perimeter’ for crypto: OCC head. More

Wyoming governor Mark Gordon owns crypto. More

Biden administration is reportedly reviewing ‘gaps’ in crypto regulation. More

US must win CBDC race to maintain dollar’s global reserve currency status: Federal Reserve Governor. More

Fed will issue discussion paper on benefits and risks of CBDC, says Jerome Powell. More

New OCC head requests review of cryptocurrency rules. More

City in North Dakota now accepts cryptocurrency for utility payments. More

SEC Chairman Gary Gensler says more investor protection is needed for Bitcoin and crypto markets. More

 

Caribbean

Barbados

Bahamas Central Bank advances release of digital currency. More

Bequia

Bequia turns to Bitcoin. More

 

Middle East & North Africa

Bahrain

Central Bank of Bahrain and JPMorgan to work on digital currency settlement pilot. More

Egypt

Egypt’s largest bank joins Ripple Network for cross-border payments. More

Iran

Iran Central Bank bans trading of foreign-mined Bitcoin. More

Report: Iran may reap upwards of $1 billion in annual Bitcoin mining revenues. More

Iranian intelligence officers target illegal cryptocurrency miners. More

Bitcoin mining banned in Iran until September. More

Israel

Fraud alleged at three Israeli ICOs that raised $250m. More

Bank of Israel releases a draft model for potential CBDC. More

Kuwait

Central Bank of Kuwait issues warning against crypto investments. More

UAE

UAE issues warning about Dubai Coin. More

Regulated trading of cryptocurrency assets to begin in Dubai airport freezone. More

Uzbekistan

A year later: Uzbekistan plans to lift its crypto ban. More

South Asia

India

NPCI refuses to ban cryptocurrencies in India – leaves the decision to banks. More

India’s central bank gives clarity to banks dealing with crypto customers. More

Mauritius

Bank Of Mauritius looking to launch CBDC pilot this year. More

East Asia & the Pacific

Australia

Australian tax office: Report crypto profits or else. More

Senator warns lack of regulations could harm Australian crypto innovation. More

China

Chinese trade associations sound crypto investment warning. More

China to socially blacklist Bitcoin miners in Inner Mongolia region. More

China Merchants Bank joins local DeFi protocol to launch $50m crypto ecosystem fund. More

Huobi, OKEx limit services for Chinese customers ahead of gov crackdown. More

Chinese traders turn to OTC desks amid regulatory crackdown. More

Hong Kong

Hong Kong regulators set to ban retail Bitcoin trading. More

Japan

Coincheck crypto exchange announces Japan’s first ever IEO. More

Bank of Japan governor slams Bitcoin, calls BTC a speculative asset. More

Japan regulator warns crypto derivatives exchange Bybit over unregistered operations. More

Indonesia

Indonesia considers capital gains tax on cryptocurrency trades. More

Bank of Indonesia joins central bank digital currency race. More

Singapore

Singapore-Listed blockchain firm buys crypto staking platform Moonstake. More

South Korea

Bank of Korea seeks tech partner to build central bank digital currency. More

54% of Koreans say they support crypto taxes. More

South Korea to build a pilot platform for CBDC. More

Thailand

Thailand mandates ‘in-person’ KYC for crypto traders. More

Thailand to target DeFi in latest regulatory clampdown. More

Africa

Ethiopia

Ethiopia to create blockchain-based identities for 5 million students with new partnership. More

Nigeria

Nigerian central bank does a U-turn on Bitcoin ban, saying they now “allow” it. More

Crypto will ‘come to life’ in Nigeria, central bank governor says. More

South Africa

South Africa’s central bank begins preliminary study for retail CBDC. More

South African crypto holders urged to approach tax body before it descends on them. More

 

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