Blog
Global Crypto Regulatory News - 1 September 2024
September 03, 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.
- US IRS Simplifies Crypto Tax Reporting
Whilst many hope for crypto clarity in other areas, the Inland Revenue Service has simplified its draft digital asset transaction tax form.
https://cointelegraph.com/news/irs-crypto-reporting-form-us-taxpayers
- Crypto AML Strengthens in China
The new inclusion of crypto and digital asset elements in China’s Anti-Money Laundering laws are leading some to be hopeful that it will lift its crypto ban.
https://www.ccn.com/news/crypto/china-aml-law-crypto-transactions-money-laundering/
- Argentina Improving Crypto Regulation
A wide range of crypto-friendly developments are being seen in Argentina, including the tokenization of goods, and regulations are being put in place to facilitate these.
- UAE Accepts Crypto for Salaries
A recent court ruling in Dubai may begin to pave the way for a greater integration of crypto in the United Arab Emirates.
https://cointelegraph.com/news/dubai-court-recognizes-crypto-salary-payments
- Nigeria Developing Digital Asset Legal Framework
Following calls from citizens that have made the news recently, Nigeria’s Federal Government is proposing new laws to regulate crypto, which should be revealed in September.
https://www.osundefender.com/fg-proposes-new-law-to-regulate-cryptocurrency/
- Draft Bulgarian Law Moves Towards MiCA
Both the Markets in Crypto-Assets regulation and the crypto Travel Rule are the subject of a draft law published by Bulgaria, set to come into force by the end of the year.
- New Bill in Luxembourg to Update Blockchain Laws
Updates to three laws in Luxembourg will see the benefits of blockchain increasingly realized, with its financial sector seeking to leverage tokenization, improved compliance and more.
- Kyrgyz Republic Draft CBDC Legislation
Draft legislation for a central bank digital currency has been released by the National Bank of the Kyrgyz Republic, due to come in in 2027.
https://cointelegraph.com/news/kyrgyzstan-digital-som-cbdc-legislation-draft
- Seychelles to Regulate VASPs
Virtual Asset Service Providers in the Seychelles will need to provide more of a presence in the country soon as the Seychelles seeks to improve its AML efforts in line with FATF guidance.
https://news.bitcoin.com/seychelles-approves-bill-on-virtual-asset-regulation/