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.
South Korean lawyers are pushing for the government to develop laws regarding cryptocurrencies and investor protection.
The US Securities and Exchange Commission (SEC) has decided to clarify in what cases cryptocurrencies should be considered securities.
On October 30, at a meeting of the Financial Stability and Development Council (FSDC), the issue of virtual currencies arose. “The Council discussed the issues and concerns of crypto assets and concluded that a complete ban on the use of cryptocurrencies should be considered,” the Information Agency of India (PIB) said in a press release.
The Securities and Exchange Commission of Thailand (SEC) has issued a warning to investors against investing their money in initial coin offerings (ICOs) that are not approved by the SEC. The financial regulator announced the investment risk of participating in ICOs, which are promoted through a variety of online media and are not accredited and licensed by the SEC.
According to experts, attempts to tame the “wild west” of cryptocurrencies could lead to negative consequences for the British fintech market. The chief executive of the British Business Federation Authority, Patrick Currie, said that inappropriate regulations could force digital platforms to leave the country, damaging the UK's business reputation.
Ukraine is considering removing digital assets from the illegal “gray zone” by 2021. The next proposal from the Ministry of Economic Development and Trade of Ukraine was published by the press service of the department. The new Concept of state policy in the field of virtual assets will legalize the cryptocurrency market in the country.
India's first cryptocurrency ATM, installed with fanfare at the Kempfort Mall always a week ago, was dismantled, and its owner was arrested for installing equipment without the regulator's permission. The Bengaluru City Police have opened a case for installing the terminal without permission and have also arrested the company's co-founder Harish.
The Japanese Financial Services Authority (FSA) has delegated the powers to monitor and sanction the crypto industry to a group of 16 licensed crypto exchanges, which has been legally recognized as a self-regulatory body.
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