Crypto Policy News
The Crypto industry is still young and largely unlegislated. But that doesn’t mean that national lawmakers don’t find much interest in it. On the contrary, governments are increasingly looking to regulate crypto.
They establish crypto legal frameworks by updating old policies and introducing new ones. Some countries find crypto to be dangerous and standing in the way of regulated control of money, while others welcome it due to its capacity to boost economies.
Whatever the case, TradeCrypto is here to update you on all the latest policy changes and introductions. To help you stay in tune with this extremely important aspect of the industry, we also run a helpful Legal Regulations Academy section.
El Salvador passes digital assets law for Bitcoin-backed bonds
🔥 El Salvador just made history by passing a law allowing for Bitcoin-backed bonds 💰 and creating a government body to regulate all digital assets 💻 Let’s raise funds and build a Bitcoin City powered by volcano energy! 🌋
U.S. federal agencies publish joint statement on crypto
Three U.S. financial institutions have joined forces to clarify the FUD regulatory situation that has arisen over the past year related to cryptocurrency banking. They do not endorse crypto banking, but neither do they encourage it, according to the new statement.Related: CFTC learns a lesson from FTX collapseAt the start of the new year, The […]
CFTC learns a lesson from FTX collapse
U.S. lawmakers committee is set to examine CFTC Chairman Rostin Behnam about whether the agency has done enough to prevent the FTX crash. A hearing on the matter has been scheduled under the title “Lessons Learned from the FTX Collapse and the Need for Congressional Action.” According to Reuters, the ground for such discourse may […]
South Korea to change crypto legal framework
South Korean authorities are proposing to widen the current Digital Assets Bill due to the security issues in the wake of the FTX collapse. The politician Yoon Chang-hyun is currently working with authorities on amendments to prevent the re-occurrence of FTX-like cases. With a new revision, local regulators such as the Financial Services Commission and […]
NY PoW mining ban comes into force
New York governor Kathy Hochul signed a moratorium on proof-of-work mining for two years, following the bill accepted by the state assembly and State Senate earlier this year. N.Y. State Assemblymember Anna R. Kelles tweeted regarding the new law: We did it! Thank you to Kathy Hochul for signing the crypto moratorium into law! This […]
Cash App Bans Cuban Users
According to a tweet posted by Bitcoin Magazine, Cash App has started censoring users from Cuba. This is due to economic sanctions imposed on the Caribbean country by the USA. Cash App is a popular peer-to-peer payment application, allowing for quick money transferring and investing. According to reports, it’s doing quite well, having made $12.3 […]
European Parliament Votes in Favor of Crypto Tax Resolution
In voting, 566 out of 705 members of the Parliament of the European Union supported a crypto tax-related resolution, proposed by member Lídia Pereira. The resolution is not a binding one, meaning that the European Parliament only recommends that the 27 member-states introduce new crypto tax practices. These include more convenient taxation of those crypto […]
China’s Social Media Platform WeChat Bans Accounts Related to Crypto and NFTs
The most popular social media platform in China, WeChat, will ban all accounts that offer crypto and NFT services on the platform. This also includes secondary NFT trading. Between May and September last year, the Chinese government started to enforce a phased ban on the crypto sector. This followed a joint statement issued by the […]
