With government agencies getting more savvy at tracing blockchain transactions, laws like the EU’s GDPR may play a role. Anti-establishment and counter-government sentiments fuelled the early days of crypto. More than a decade later, crypto is slowly moving away from its wild-west early days and into a more organized system that traditional financial institutions are…
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Taking account of more aggressive crypto tracking measures and what they mean for future government adoption of blockchain. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note One of the most persistent myths about Bitcoin is its supposed anonymity. More properly termed pseudonymity,…
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Crypto businesses are unsure how to react to new regulations in the Russian Federation. Russia’s new cryptocurrency-related law, “On Digital Financial Assets,” or DFA, seems to have had little impact on the local cryptocurrency industry so far. In its current form, the DFA law essentially provides legal status to digital assets like Bitcoin (BTC), but…
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Crypto and blockchain get better legal clarity in the alpine country. Swiss parliamentarians on Thursday passed a new set of finance and corporate law amendments that recognize the blockchain and cryptocurrency industry. As per a Swiss Info report, the government has amended several laws ranging from company bankruptcy to securities trading. The new set of…
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The Russian government keeps betting on blockchain for elections. As Russia is set to pilot a blockchain-based e-voting system, the country’s federal elections authority has provided public access to the platform’s source code. According to an official announcement by Russia’s Central Election Commission, or CEC, the source code for the e-voting system was partly released…
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A new analytics firm scores a major contract with the U.S. tax agency, which has been upping its crypto engagement left and right. On Sept. 8, the IRS’s criminal investigation department signed a $249,900 contract with a blockchain analytics firm to expand its crypto tracing tools. The contract provides limited information, but it follows an overarching…
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The alleged crypto scam websites are still intact. A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds…
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Russia’s law on digital assets has not affected Binance’s business in any way. International cryptocurrency giant Binance is not going to give up launching the Binance Card in Russia despite the upcoming ban on crypto payments. Binance, the world’s largest crypto exchange by daily trading volume, is working on the rollout of its crypto debit…
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Russia’s new bill brings it in line with U.K. legislators, though there is a distinction between the approach of the FCA and the State Duma. Not unlike many other jurisdictions around the world, Russia has come to recognize the potential benefits and risks flowing from cryptocurrencies by taking its first step to define and codify…
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South Korean public entities are becoming blockchain-friendly. The Korea Internet & Security Agency, or KISA, is the first public entity of South Korea to implement a blockchain-powered employee ID system through a smartphone app starting October. According to Yonhap, the agency will also issue tokens called “KISA Coin” to reward KISA’s best employees, enabling them…
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