The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore to Require Stablecoin Issuers to Maintain Minimum Base Capital and Liquid Assets…
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France’s financial market regulator said it’s adjusting the rules for crypto companies in line with Europe’s new regulatory framework. The changes, which will enter into force next year, seek to enhance registration requirements for businesses offering certain services for digital assets like custody and trading. AMF Revamps Crypto Regulations to Enforce Stricter Registration Rules for…
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The world’s largest crypto exchange, Binance, said it’s exiting the Dutch market as it has been unable to obtain registration as a crypto service provider. The news comes after Binance’s entity in Cyprus applied to be removed from the country’s register of digital asset service providers. Binance Leaves the Netherlands and Cyprus to Focus on…
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Stricter anti-money laundering (AML) measures for the crypto sector in Japan will enter into force next month, local media reported. The new rules were adopted to align the country’s legal framework for cryptocurrencies with global standards in the field. Japan to Enforce Legislation Allowing the Tracing of Crypto Transactions The Cabinet of Japan, the executive…
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A new bill requiring South Korean lawmakers to disclose their cryptocurrency holdings has been proposed in Seoul. The legislative initiative comes amid a snowballing scandal surrounding the crypto dealings of an opposition lawmaker whose case has been referred to the parliamentary ethics committee. New Legislation to Introduce Crypto Reporting Requirements for South Korean Parliamentarians Representatives…
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It is necessary to put an “end to the lawless crypto space,” according to the head of the Financial Action Task Force (FATF). G7 nations must set an example in implementing global standards on combating money laundering, the executive insisted, as little progress has been made in regards to introducing the organization’s new crypto rules.…
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Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of cryptocurrencies like bitcoin. Crypto ‘Will Never Be Legalized in Pakistan,’ Minister Tells Senators Pakistan’s government announced on Wednesday its decision to suspend…
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The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389…
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A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different categories of licenses that companies will have to renew periodically. President Tokayev Sings Law Regulating Crypto Assets Mining and Exchange in…
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France has to adopt a licensing regime for crypto service providers, the head of the country’s central bank has suggested. According to the executive, the need to tighten regulatory oversight stems from the “disorder” in the industry throughout the past year. Licensing Should Replace Registration for Crypto Firms in France, Governor Galhau Says Banque de…
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