UK markets watchdog proposes retail ban on crypto derivatives

Britain’s markets watchdog has come forth and proposed a ban on the sale of derivatives based on crypto-assets to retail consumers due to the prevalence of market abuses. Crypto-assets as they are known include popular crypto currencies like Bitcoin, Ethereum, Litecoin and Monero as well as various utility tokens issued by companies and are tradeable on...

Japan’s Line Close to Obtaining FSA License for Japanese Crypto Exchange

VC Corporation, the digital asset and blockchain-focused arm of Japanese messaging giant Line, is close to obtaining a crypto exchange operating license from Japan’s financial regulator. Cointelegraph Japan first reported the news on June 20. Japan’s Financial Services Agency (FSA) could issue the company with an exchange license as early as this month according to the report....

Brazil with New Regulations Requirements for Crypto Exchanges to Report on User Transactions

Brazil’s federal revenue agency has released new rules for crypto trading platforms. Under the new guidelines, crypto exchanges are required to report on all crypto transactions carried out within their system. The new rules were released by the Department of Federal Revenue of Brazil (RFB) and will affect the way cryptocurrency exchanges inform the regulator about users’ transactions in order to...

Italian Government With New Plan on Taxing Savings in Held in Bank Safes

The Deputy Prime Minister of Italy has proposed a new tax on cash and other valuables stored in bank safes by the country’s citizens. If made into a law, the measure could mark a move towards Bitcoin and other cryptocurrencies as a way to keep the government out of citizens’ safe boxes. This proposal came amidst rising geopolitical tensions...

EBA Pushes for Greater Research and Regulation of Cryptoassets at the EU Level

The European Banking Authority (EBA) indicated in January that they will be taking a closer look at pan-European regulation regarding cryptoassets and suggesting needed changes, which they proposed through their ‘Report With Advice for the European Commission on Cryptoassets (2019)’ document. The report focuses predominately on the applicability of existing EU wide laws and how they...

Switzerland’s National Council Seeks More Comprehensive Regulation of Cryptoassets

In what is shaping up to be a strong year for cryptocurrency regulation, Swiss Federal Council members are now seeking formal regulation for cryptoassets, through a series of proposals which would see existing regulation retrofitted and adapted to the emergence of blockchain technologies. This comes shortly prior to an address by the French Minister for Economy and Finance,...