Blog
Global Crypto Regulatory News - 1 December 2024
Matthew Warner
December 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.
- California Rules DAO Participants Legally Liable
In a recent case, a judge in California has ruled that the governing body behind a DAO qualifies as a general partnership, meaning DAO members could be held liable for the DAO’s actions.
https://bitcoinist.com/crypto-ruling-dao-member-liability-partnership-laws/
- Pennsylvania Proving Pro-Crypto?
Following the passing of a crypto regulatory framework last month, members of the Pennsylvanian House of Representatives have now also proposed bitcoin reserves for the state.
- Chinese Judge Comments on Crypto Legality
A judge in Shanghai has confirmed that it is not illegal to own cryptocurrency in China, but that commercial trading or token issuance is prohibited.
- EU Clarifies how Service Providers need to Comply with Crypto Laws
Crypto-Asset Service Providers and Payment Service Providers must comply with new guidelines from the European Banking Authority, implementing systems to reduce risk.
https://cointelegraph.com/news/eba-guidelines-crypto-restrictive-measures
- UK to Implement Crypto Regulation Overhaul
By early next year, the UK government aims to have introduced comprehensive crypto asset regulations, supporting innovation and removing legal uncertainty.
https://cointelegraph.com/news/uk-crypto-regulation-framework-2025
- Russia Deems Cryptocurrency Property
New legislation signed into law by Vladimir Putin has made cryptocurrencies property in Russia, with benefits including VAT exemption for mining and selling digital currencies.
https://news.bitcoin.com/putin-signs-law-declaring-crypto-as-property-in-russia/
- Australia Improving Crypto-Asset Reporting
To improve transparency and compliance, Australia’s Department of the Treasury has begun a consultation on standardizing how tax info on crypto-assets is collated and communicated.
- Netherlands Seeks Improved Crypto Tax Laws
A proposed new law would see Dutch crypto providers required to share information with the Dutch tax authorities, which would then be sent to the EU, to improve security and reduce risk.
https://nltimes.nl/2024/11/13/dutch-efforts-enhance-eu-crypto-tax-laws
- Israel Regulates Crypto
Digital assets are categorized as capital assets in Israel as the country introduces a new memorandum of law to develop the regulatory framework and infrastructure for digital assets.
https://www.jdsupra.com/legalnews/new-memorandum-of-law-regulating-the-6600564/
- Morocco Prepares for Crypto Adoption
Morocco’s Bank Al Maghrib is preparing legislation that will see crypto assets regulated rather than banned, and is investigating the creation of a Central Bank Digital Currency.
- MiCAR Coming into Force in Malta
With the full act aimed at being applied by the end of the year, Malta has begun implementing the Markets in Crypto Assets Regulation, with certain aspects now retroactively activated.
Matthew Warner is a content producer and researcher at Blockpass, focusing on writing and community engagement while exploring the potential of blockchain, AI, and IoT technologies.