Blog
Global Crypto Regulatory News - 1 May 2024
Whilst Blockpass monitors and adapts to regulatory changes around the world, we only cover some of the news and developments in articles on the Blockpass blog. However, to showcase more information around what is going on in the blockchain and crypto regulatory scene around the world, we’ve selected some prominent or interesting news and articles that feature relevant crypto regulatory and compliance developments.
- EU to Strengthen AML Measures
New laws will improve due diligence on customer identification, affecting crypto-asset service providers and crypto asset managers.
- Australia Tightening Regulatory Control
Both a legal case and a review by the Crime and Corruption Commission in Queensland are clamping down on crypto in Australia, though only one has crypto users concerned.
https://www.dlnews.com/articles/regulation/australian-legal-clash-evokes-gensler-tactics-on-crypto/
- Thailand Blocks Unauthorized Crypto Platforms
To cut down on the issue of online crime, Thailand is following the example of countries like India and the Philippines and making a stand against the increased risk of fraud.
- Cryptocurrency Mining Under Threat in Norway
Citing greenhouse gas emissions as the reason, the Norwegian government is planning a data-center act that will limit which businesses it allows to operate in the country to those it wants.
https://news.bitcoin.com/norway-to-target-cryptocurrency-mining-through-data-center-regulation/
- New Crypto Regulations in Singapore
Amendments to Singapore’s laws will implement certain changes for the crypto industry, including ones regarding digital asset custody, cross-border payments and token transfers.
https://www.ledgerinsights.com/mas-singapore-crypto-regulations-digital-asset-custody/
- Chile Develops Crypto Laws and Regulation
Coming into effect next year, Chile is working to finalize a new FinTech law that will cover crypto assets and aims to define crypto regulations, making Chile a leader in crypto for Latin America.
- Vietnam to Allow Crypto, Needs Regulation
Developing new regulations is one of the key concerns of the Ministry of Justice in Vietnam as it seeks to enable the use of crypto in a manner that avoids the risks of fraud and bad actors.
- Ukraine Urged to Update Virtual Asset Laws
The International Monetary Fund has highlighted the economic benefits that regulated crypto could bring to Ukraine as war continues to impact the country.
- Angola Bans Crypto Mining
Due to the intensive energy requirements that mining cryptocurrency can bring, the Angolan parliament has banned crypto mining to protect the country’s electrical distribution abilities.
https://angop.ao/en/noticias/politica/parlamento-aprova-proibicao-de-mineracao-de-criptomoedas/
- Malta Moves Towards MiCA Adoption
Updates to Malta’s Virtual Financial Assets Act are the most recent steps taken by the country as it moves towards the standards required of the Markets in Crypto-Assets regulation.
https://www.lexology.com/library/detail.aspx?g=8d95119f-5605-4d31-b0df-94b845cf8527
- Fiji Makes U-Turn on Crypto
After indications that the Prime Minister of Fiji supported Bitcoin, the Reserve Bank of Fiji has recently warned against using cryptocurrency for payment or investment as it is not licensed.