The updated Consumer Safety Technology Act (now includes the Digital Taxonomy Act and the Blockchain Innovation Act) has passed in the House of Representatives and is now headed for the Senate. It has been reported that the Digital Taxonomy Act provides definitions for the terms “digital asset” and “digital unit” and would task the Federal Trade Commission with preventing unfair trade practices in both. The bills have been rolled into a broader piece of legislation aiming to

Members of G20 have announced that they would lay the regulatory groundwork for the group to accept digital payments. If this happens, paying through digital currency would become a reality for all the G20 members just before the next summit in Saudi Arabia. On July 11 Kyodo News reported that G20 officials- comprising of member representatives from 19 countries and the European Union will be laying the regulatory groundwork to accept digital payments. G20がデジタル通貨を容認。 暗号資産も再び注

The Australian National Blockchain Roadmap Steering Committee has reached out to the blockchain community in order to create working groups to explore specific applications of the technology within the supply chain, agricultural and educational sectors. The invitation on the Australian Government’s Department of Industry, Science, Energy and Resources’ website have asked interested parties to submit their expressions of interest before the 22nd of July. Are you part of Austra

Sveriges Riksbank, Sweden’s central bank just released a 98-page report on central bank digital currencies, referencing the country’s own such asset — the e-krona. In an initial note to readers, Riksbank’s June 18, 2020 report said: “The second issue of Sveriges Riksbank Economic Review in 2020 has a special theme, namely central bank digital currencies (CBDC) and the e-krona.” The Sveriges Riksbank Economic Review does a deep dive into central bank digital currency, includin

China’s new inheritance law allows China’s citizens to pass on their cryptocurrency and other virtual assets to their heirs. The Thirteenth National People’s Congress and Chinese People’s Political Consultative Conference has come to an end on May 28. Xinhua news reported that on the same day the parliament passed a new civil code; a legislation package that includes protecting the civil rights of inheritance, marriage, property, personality, contract and infringement. The ne

India’s central bank RBI clarifies that there is no prohibition on banks from providing banking services to cryptocurrency companies or traders, in response to a right to information request. The request was initially filed by cofounder of Indian cryptocurrency exchange Unocoin, Harish BV. An RTI was filed by @bvharish Co-founder of Unocoin. Question: Does RBI prohibited any banks from providing the bank accounts to crypto exchanges or crypto traders ? Answer from RBI: As o

Thailand’s securities regulator grants license to Asia-pacific crypto-fiat trading platform Zipmex. On Jan. 20 a press release was shared by the Thai Securities and Exchange Commission (SEC) that approved the license for Zipmex while placing a strict regulatory requirement on applicants. In order to secure the license, one needs to have at least 50 million baht ($1.65 million) while having a high standard in their IT and cybersecurity systems. Under Thai law, licensed digital

The government of South Korea is planning to tax capital gains on cryptocurrency transactions. On Dec. 9 The Korea Times reported that a revised bill will be introduced by the country’s Ministry of Economy and Finance by the first half of 2020. South Korea Progressing Bill On Cryptocurrency In parallel, The National Assembly of South Korea is progressing a bill that would provide a legal basis for cryptocurrencies in the country. The bill would categorize virtual currencies a

Japan’s financial regulator- Japan’s Financial Services Agency (FSA)  so far has approved a total of 21 crypto exchanges to operate in the country. Lastroots Is the Latest Exchange To Be Approved By The Regulator The financial regulator approved the only remaining “deemed cryptocurrency exchange” last week- Lastroots. Lastroots became the 21st FSA-approved crypto exchange operator in the country. Established on June 2, 2016, Lastroots launched a cryptocurrency exchange in Mar

A local media claims that China should embrace blockchain technology but not “speculate” about cryptocurrencies such as Bitcoin. On Oct. 29 Reuters reported quoting the local media outlet The People’s Daily. Beijing previously announced support for blockchain should not be read as support for cryptos. The local media, The People’s Daily, that reported is a publication under the direct control of the ruling political power, the Communist Party of China. “Blockchain’s future is

Huobi Japan raised 5 million yen ($4.6 million) from Finacial Products Group (FPG), a financial instruments business operator. Cooperation on Digitized Securities Huobi Japan a subsidiary of Singapore based crypto exchange- Huobi, serving traders over 130 countries. The platform launched this January as a fully compliant entity after a merger with BitTrade — one of only 16 crypto exchanges at the time to have secured a license under the aegis of Japan’s national financial reg

China’s central Internet Regulator, censor and oversight and control agency, The Cyberspace Administration of China has published its second list of registered blockchain service providers. Commercial Enterprises to Government Agencies On Oct. 21 8BTC reported that the new list consists of 309 companies representatives of various industries such as – cultural tourism, education, e-commerce, law, healthcare and supply chains. Among the registered entities, are services such as

The G7 group of nations has reportedly drafted a report that says “global stablecoins” pose a threat to the global financial system. On Oct. 13. BBC reported the G7 report about the various risks associated with it while stating that member firms of Libra Association even if addressed regulatory concerns may not get approval from the regulators while addressing: “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challen