Politics
PBOC Official Says CBDC Must be Available in All Retail Scenarios
- The head of China’s central bank digital currency institute said the e-CNY has undergone a major upgrade, and should be made available as an option in all retail scenarios.
- The PBOC official noted that platforms can integrate the CBDC in the short term using QR codes, and focus on upgrading their payment tools in the long run.
September 4, 2023, 11:31 AM
Office building of the People’s Bank of China. Flickr
RFK Jr. Promises to Exempt BTC from Capital Gains Tax if Elected President
- Presidential candidate Robert F. Kennedy Jr. argued that exempting BTC to USD conversion from capital gains tax will facilitate innovation and spur investments into the country.
- RFK Jr. also said that if elected, his administration will try to stabilize the U.S. economy by backing the dollar with “hard currency”, including gold, silver, platinum, and Bitcoin.
July 19, 2023, 12:21 PM
Robert F. Kennedy Jr. on the red carpet at Celebrity Fight Night XXIII at the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona, 18 March, 2017. Gage Skidmore/Flickr
Judge Rules XRP Sale on Exchanges Not a Security
- A federal judge ruled that the sale of XRP through exchanges and algorithms did not qualify as selling securities, which could have a major impact on several SEC lawsuits.
- The institutional sale of the token, however, did violate federal securities laws, and the lawsuit between the SEC and Ripple will have to go to trial.
July 13, 2023, 6:11 PM
Shutterstock
Singapore Orders Crypto Firms to Move User Assets in a Trust by Year-End
- The requirement to deposit customer assets into a statutory trust comes as a result of a MAS public consultation from October 2022 focused on reducing risk in crypto trading.
- Singapore’s central bank also restricted crypto firms from facilitating lending and staking to retail customers, though the services are still available to institutional clients.
July 3, 2023, 2:39 PM
Monetary Authority of Singapore building. The Straits Times
Jun 9, 2023
EU Adds MiCA Legislation to Official Journal
- The legislation that aims to create a consistent regulatory framework for crypto assets among the EU member states has been added to the EU’s Official Journal.
- The move has started the clock on when the new crypto rules will be applied, with MiCA coming into full force on 30 December, 2024.
May 31, 2023
Bybit Becomes Latest Exchange to Exit Canada
- Bybit is the latest exchange following Binance and OKX to announce its departure from the Canadian market due to “recent regulatory development”.
- Canadian nationals will no longer be able to open new accounts starting Wednesday, while existing users have until 30 September to withdraw their assets from the platform.
May 30, 2023
bitFlyer Implements Restrictions to Comply With Travel Rule
- The Japanese exchange has adopted new AML measures in order to comply with the Japanese governments implementation of FATF’s Travel Rule.
- Transaction restrictions will be applied to 21 countries that follow the Travel Rule, though transfers to countries not on the list will still be supported.
May 25, 2023
DeSantis Launches Presidential Campaign, Vows to Protect Bitcoin
- The current governor of Florida, Ron DeSantis, announced he is joining the race for the 47th president of the U.S. during a Twitter Spaces event on Wednesday.
- During his speech DeSantis declared his support for Bitcoin and the wider crypto space, noting that if Joe Biden is re-elected “they’ll probably end up killing it”.
May 16, 2023
MiCA Regulation Approved by EU Finance Ministers
- The Economic and Financial Affairs Council of the EU, which is comprised of finance ministers of all 27 member states, unanimously approved the MiCA crypto regulation.
- The EU’s finance ministers also also gave their consent to new measures that will allow tax authorities to collect data on individuals’ cryptocurrency holdings.
May 16, 2023
SEC Responds to Coinbase, Says No New Regulations Will be Issued Soon
- The U.S. SEC claimed in its response that it was under no obligation to issue new regulations for crypto, and that rules for crypto were already published and were sufficient.
- The agency also tried to distance itself from any public comments made by its chair Gary Gensler, particularly regarding his statement that most cryptocurrencies are securities.