In our “Regulation” section, we cover laws, policies, and regulatory decisions affecting cryptocurrencies and blockchain technologies worldwide. Here you will find updates on government actions, compliance requirements, and legal frameworks shaping the crypto market. Read the “Regulation” section on ForkNews to stay informed about how regulation impacts the digital asset industry.
Efforts by Spanish tax officials to identify cryptocurrency holders are beginning to pay off. After investigating several firms, the Treasury is looking to introduce a new cryptocurrency tax.
High market volatility last year, and especially the epic Bitcoin rally in December, became the reason for the US Department of Justice to investigate the activities of the Bitfinex crypto exchange and the Tether Ltd team.
An unexpected fact about the cryptocurrency industry - despite the bearish market trend, business for digital asset lawyers is booming. Forty-five cryptocurrency-related lawsuits were filed in the first half of this year, according to research firm Diar.
According to the news publication Quartz, a working group tasked by India's finance minister to prepare regulations and recommendations regarding the blockchain industry and the activities of companies in the cryptocurrency sector is expected to unveil the bill next month.
The Huobi Group has established a Communist Party cell in one of its subsidiaries in Beijing. The group that owns the Huobi exchange announced on its website on November 16 that it is “necessary to implement” the principles and policies of the Communist Party into private companies. The move, which is a first of its kind for the Chinese cryptocurrency space, is also aimed at gaining party support for the platform's business in the country.
Estonia has become one of the most loyal jurisdictions for the crypto industry in the European Union. The country has already issued more than 900 licenses for conducting cryptocurrency business.
The Polish government recently amended its income tax law, which was approved by President Andrzej Duda. The updated law, which now includes provisions for cryptocurrencies, will come into force on January 1, 2019.
In her speech at the Singapore Fintech Festival, Christine Lagarde, head of the International Monetary Fund, acknowledged that recent trends and the possibility of the global economy transitioning to digital assets can no longer be ignored, and issues of issuing central bank digital currencies (CBDCs) should be approached thoroughly.
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