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Japan and South Africa are to set new crypto regulations
**Two of worlds global economic giants, Japan and South Africa, are to set new crypto regulations in the scope of recent activities and scandals within the cryptocurrency market.** **Japan works on both regulatory and diplomatic levels to introduce crypto regulations.** In terms of introducing crypto regulations, Financial Services Agency (FSA), Japan’s financial watchdog, has recently e...
Path: BlogFATF is planning to release International Crypto Regulation by next summer
...robably for digital wallet providers. Businesses offering financial services for initial coin offerings will also be involved, the report stated. The news was revealed after the FATF plenary meeting with officials from 204 countries to talk over crypto regulations and other related issues. FATF’s president, Marshall Billingslea, indicated June as the month when the guidelines and enforcem...
Path: BlogChina to become the first country to issue state-owned cryptocurrency
...crypto technologies were viewed with skepticism in this country. This is evidenced by the cryptocurrency ban which is still in effect. It worth noting that despite the digital currency is still formally banned in China, the government passed new crypto regulations which will come into effect on January 2020. The regulations introduce new standards for the function of cryptography. However, ...
Path: BlogJapanese Officials Introduce New Amendments in Japan’s Crypto Laws
...ter condition officials try to limit fake businessmen and eliminate bad sources of information. This is an important addition as market manipulation is a real concern internationally. Despite the dreary state of the international markets, the new crypto regulations in Japan can help the crypto industry grow in the Asian region and Japan could be the blockchain capital of the region. This determ...
Path: BlogImpact of New Legal Framework on Estonian Crypto Market
...d such experience, but this situation has raised serious consequences to local regulators. Therefore, it is clear that Estonia, with the great amount of Virtual Currency Provider licenses that were issued till the beginning of 2020, will amend their crypto regulations and ground rules regarding this matter. New Estonian framework introduced through the 5AMLD specially highlights AML field. Loca...
Path: BlogEU and US propose legislative changes regarding digital asset industries
...th regulation purposes are to provide standardization, but the most important part of the rules is the European Commission’s objective to passport these standards across the borders of the EU. MiFID draft itself acknowledges the disparate state of crypto regulations in the EU. Few EU Member States have already implemented this regime to cover some crypto asset service providers or parts of th...
Path: BlogHong Kong Securities and Futures Commission changing its previous "opt-in" approach
Hong Kong’s Securities and Futures Commission (SFC) will stipulate the regulations of all cryptocurrency trading companies operating in Hong Kong’s jurisdiction. The following activities is an extension of the crypto regulations introduced by the SFC in November last year. Hong Kong is considered as the base of many major cryptocurrency exchanges, but until November 2019, they were not reg...
Path: BlogJapanese Financial Services Agency is discussing to impose stricter Crypto Laws
... years already. **Hacks Led to Strict Rules** After the massive attack on the Japanese leading crypto exchange, Coincheck, which resulted in theft of over $500 million worth of digital currencies, took place in 2019, major overhaul of Japanese crypto regulations took place. In order to strengthen security of exchange and protect investors from such attacks, the Financial Service Agency stri...
Path: BlogHow to Obtain a Crypto License in Saint Vincent and the Grenadines
...U pilot program reflects its openness to digital currencies. The Eastern Caribbean Central Bank (ECCB) initiated this pilot program to test a digital version of the Eastern Caribbean Dollar (DXCD), which could potentially serve as a model for future crypto regulations. Virtual Assets Business Act (VABA) The Virtual Assets Business Act (VABA), enacted on May 10, 2022, marks a significant step t...
Path: BlogNew Zealand Crypto License
...ses, involving thorough scrutiny, background checks, financial audits, and strong security measures. This approach mitigates risks and enhances New Zealand's reputation as a leading hub for fintech, making it appealing to companies navigating global crypto regulations.Timeframe: 5 - 7 months Minimum paid up capital: There is no specific minimum share capital requirement for obtaining ...
Path: Licensing