UK ‘Bitcoin Isle’ Amends Law for Digital Currency Exchanges
The government of Jersey, an autonomous island and a dependent of the British Crown, is set to introduce new regulation for digital currency exchanges. Legislators of the State of Jersey, a British Crown dependency are amending laws to regulate digital currency exchanges in the island that is seen as a tax haven and an attractive destination for Fintech services and companies. Fundamentally, the new law will see bitcoin- and cryptocurrency exchanges feel more stringent regulations when they grow bigger. The new legislation, titled “Proceeds of Crime (Supervisory Bodies) (Virtual Currency....
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Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
The Parliament of Canada has passed a bill that amends the country's Proceeds of Crime (Money Laundering) and Terrorist Financing Act of 2000 to extend to both foreign and domestic businesses working in the bitcoin and digital currency sectors in Canada. Bill C-31, known formally as "An Act to Implement Certain Provisions of the Budget Tabled in Parliament on February 11, 2014", has potentially far-reaching implications for all bitcoin businesses currently serving the Canadian market, and was first introduced in March. On 19th June, it received Royal Assent, thereby officially becoming....
The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring session. Updated Law ‘On Digital Currency’ Filed With Russian Government Russia’s Ministry of Finance has amended a bill intended to implement comprehensive rules for the Russian cryptocurrency sector. The latest version now takes into account the positions announced by other government....
The bill amends ERISA of 1974 to include digital assets under “covered investments,” thereby shielding investment managers from liability.
Following Ethereum’s production-ready software release earlier this month, digital currency exchanges are now adding support for the native token that powers its blockchain, ether (ETH). In recent weeks, the majority of announcements have come from Asia, where exchanges in China, Japan and South Korea have all added support for ETH trading. Such actions follow the news that Bitfinex, one of the world’s largest digital currency exchanges, had added support for the digital currency on 12th March. Regional exchanges that have since announced support for ETH trading including Coincheck, CHBTC,....