The proposed law on digital assets in Russia will fail to clarify tax issues for miners after the lawmakers have removed the definition of crypto mining from the draft bill on digital currency regulation.
The U.S. Securities and Exchange Commission (SEC) has launched Strategic Hub for Innovation and Financial Technology (FinHub), a new division with the goal of making it simpler for fintech and blockchain startups to navigate the legal implications of their products.
The European Securities and Markets Authority (ESMA) has budgeted over €1 million to monitor financial innovation including cryptocurrencies.
A draft bill that leaves crypto-to-crypto trading outside the state regulation has been filed this week in the Ukrainian parliament. The news was announced during BlockchainUA conference in Kyiv by Ukrainian MP Alexey Mushak.
Finance ministers from the European Union’s 28 member states will hold an informal meeting on the challenges posed by Bitcoin and other cryptocurrencies and the possibility of tightening regulations, Bloomberg reported August 29.
Ukraine moved closer to regulating Bitcoin and other cryptocurrencies as financial instruments after head of the National Securities and Stock Market Commission (SSMCS) Timur Khromaev said the corresponding bill could be submitted for the Parliament’s consideration by the end of 2018 or early next year.
A draft bill aimed at protecting the rights of cryptocurrency owners while also regulating them in line with Russian laws was introduced to parliament in March with the biggest expectation being the legalization of cryptocurrency payments. However, as local media outlets report, the expectation of making digital currencies legal tender may not come to pass.
India virtually banned cryptocurrencies like bitcoin with the Reserve Bank of India barring regulated entities from providing services to any individual or business dealing in digital currencies.
Russia’s Ministry of Telecom and Mass Communications (MinComSvyaz) has prepared guidelines for Initial Coin Offerings (ICOs). The document, however, has already become target for heavy criticism.
Following the presentation of a drafted bill to place regulations on the usage of cryptocurrency in Russia on December 28, a list of approved cryptocurrency trading platforms is being developed by the Russian Ministry of Finance.
Ukraine’s National Bank, the National Commission for Securities and Stock Market, and the National Commission on Finance Services Market Regulation have supported the initiative to legalize cryptocurrencies in Ukraine.
Speaking at the state-owned TV channel Russia 1, the country’s finance minister Anton Siluanov has stated that bitcoin will not replace ruble for internal settlements.