Nebraska senator introduces bills to allow state banks to custody crypto

“We need to be a leader in FinTech,” said State Senator Mike Flood. A Nebraska state senator has proposed new crypto-friendly legislation which could see his state become the next regulatory safe haven for FinTech firms. Sworn in just two weeks ago, Republican Mike Flood today introduced the Transactions in Digital Assets Act and Adopt the Nebraska Financial Innovation Act to the state’s 107th Legislature.

Crypto anti-terrorism bill introduced in the US House of Representatives

A bipartisan group of representatives has introduced a bill to the House that seeks to create a task force focused on combating terrorist financing via cryptocurrencies. US Representative Ted Budd (R-NC) has sponsored a new piece of legislation aimed at creating an agency tasked with combating the use of cryptocurrencies in terrorist financing. The bill — H.R.

New US Legislation Would Be Massive Setback for Stablecoins if Passed, Says Dragonfly Capital Partner

Dragonfly Capital managing partner Haseeb Qureshi says a proposal floating through the US House of Representatives would deal a huge blow to stablecoins.

Russia’s State Duma expects explosion of crypto issuance in 2021

Russian government appears to anticipate crypto issuance to explode in 2021 following the adoption of its major crypto bill. The Russian government is anticipating more cryptocurrencies to be issued in the local market in 2021, according to a senior official. Anatoly Aksakov, a member of the Russian State Duma and a key representative of local crypto legislation efforts, said that the Duma’s Committee on Financial Markets expects Russian crypto issuance to surge after the adoption of the country’s new crypto law on Jan.

Russian Parliament Expects a 2021 ‘Surge’ in Token Issuance

Russia’s parliament, the State Duma, said that it is braced for a “surge in token issuance” in the new year. Per a report published in the Parliamentary Gazette, Anatoly Aksakov – the head of the Duma’s committee on financial markets and the chief architect of Russia’s crypto legislation – stated that parliament was expecting token releases to come thick and

Traditional banks offer digital asset custody amid compliance legislation

Compliance and regulations become more important than ever before for banks and traditional institutions that offer support for digital assets. More and more traditional banks have started announcing support for digital assets as the price of Bitcoin (BTC) continues to make headlines for record-breaking all-time highs.

Germany Passes New Law to Allow Digital Securities on the Blockchain

Germany’s cabinet has approved legislation that authorizes the use of blockchain technology in transacting securities.

Analysts say Mnuchin’s proposed self-custody rule won’t impact Bitcoin price

Analysts debate whether the US Treasury Secretary’s new rule about self-custodied wallets could place the current bull run in peril. This week various media reported that US Treasury Secretary Steven Mnuchin was considering whether or not legislation governing self-custodied wallets should be implemented.

New Law in Germany Embraces All-Electronic and Blockchain Crypto Securities

The German government has passed new legislation to introduce all-electronic securities as part of the country’s wider blockchain strategy.

Women in Tech Say Proposed STABLE Act Harms Those It Claims to Protect

Women of color from the cryptocurrency industry are concerned the STABLE Act would make wealth disparities in the US much worse.

Russian crypto lobby group appeals to finance ministry to soften legislation

A crypto advocate group in Russia is lobbying for more friendly federal crypto law.

Congresspeople speak out against Tlaib's anti-stablecoin bill

But the bill is unlikely to become law any time soon. On Wednesday night, Congresswoman Rashida Tlaib introduced a bill before the US House of Representatives looking to make fiat-pegged stablecoin operators abide by the same rules and registration requirements expected of banks. The legislation, under the name “the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act,” sets out a fresh and extremely expansive definition of stablecoin.

One of Pakistan’s four provinces urges federal gov’t to legalize crypto

The draft resolution reportedly notes that digital currencies are likely to replace paper currencies in the future. The assembly of Khyber Pakhtunkhwa, a province in northwestern Pakistan, has become the first legislative assembly to call for changes in the country’s stance toward cryptocurrencies. As previously reported, Pakistan has, to date, been relatively slow to introduce new frameworks for digital assets and cryptocurrencies.

Caitlin Long calls on SIM swap victims to help resurrect Wyoming bill

“A SIM swap was part of the infamous Twitter hack in July, so this is no longer just an issue affecting the crypto industry," said Long. Caitlin Long, founder and CEO of Avanti Financial, is asking crypto users and others to testify in support of a piece of legislation which could help stop SIM swap attacks.  In a tweet posted today, Long requested that any of her 70,500 followers who had been the victim of a SIM swap testify for the Wyoming legislature on Dec.

Russia's Sberbank plans release of its own crypto token, the 'Sbercoin'

With new legislation on digital assets coming into effect in a month, Russian financial institutions are looking to act. With a new law coming into effect in Russian, the country's largest bank is planning a new blockchain platform for trading, as well as a native token. According to a Monday report from Russian business news outlet RBC, Sberbank is planning to jump into crypto come 2021 when a new law "On Digital Financial Assets," or DFA, is set to come into effect.  The news came from Herman Gref, the CEO and chairman of Sberbank.

Coinbase CEO Says US Treasury May ‘Rush Out’ Rules on Private Crypto Wallets

Coinbase CEO Brian Armstrong is warning crypto asset owners about legislation cracking down on self-hosted crypto wallets that may be hastily introduced in the Trump administration’s final days.

Argentina's Parliament will see a new bill presenting a framework for crypto

One of Argentina's youngest deputies is prepping new legislation to provide a national framework for crypto, which will reportedly hit the parliament next week.

New Jersey Lawmakers Considering Sweeping Legislation to Regulate Bitcoin, Blockchain and Cryptocurrency

Lawmakers in the state of New Jersey are analyzing a bill that would regulate businesses involved in blockchain technology and digital assets, such as the flagship cryptocurrency Bitcoin (BTC).

Iran Amends Law to Allow Imports to Be Funded With Cryptocurrency

Strapped for international currencies, Iran is turning to cryptocurrency to allow imports to continue to flow.

No Anti-Blockchain Voices in Russian Government, Says Policy Chief

The head of the Russian parliament’s financial markets committee Anatoly Aksakov said there are “no anti-blockchain voices in the government,” major industry players remain crypto-keen – and believes that a “cryptoruble” pilot will begin next year. Per media outlet RBC, Aksakov – the chief architect of Moscow’s crypto and blockchain policy and legislation

Understanding the EU’s 6AMLD and the risk to your business

The changes brought about by 6AMLD will affect a lot of businesses, but there is still time to prepare for new rules. In January 2020, the European Union released its Fifth Anti-Money Laundering Directive to increase transparency while tackling fraud, money laundering and cybercrimes. The 5AMLD extended the scope of customer due diligence checks, introduced domestic and politically exposed persons, extended the creation of central registrars of beneficial ownership, and extended Anti-Money Laundering checks to majority-owned subsidiaries outside the European Union. Related: New EU AML compliance laws could disrupt the crypto industry In December 2020, an updated Anti-Money Laundering Directive, known as the 6AMLD, will come into effect around the world, and any organizations operating within the EU will need to comply with the new rules.

Spain Working on Bill to Force Crypto Holders to Disclose Assets, Gains

The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, a government spokesperson said.

Blockchain legislation passes the House, heads for Senate

Bills from the Energy and Commerce Committee are making their way to the Senate following votes this afternoon. The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon. The Digital Taxonomy Act provides definitions for the terms "digital asset" and "digital unit" and would task the Federal Trade Commission with preventing unfair trade practices in both.

House Ag Committee leader talks new bills to treat more cryptos like commodities

Congressman Conaway sheds some light on new legislation in conversation with Cointelegraph. Two bills introduced last week looked to solidify the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission — respectively the regulators for securities and commodities in the United States.

A minster's look at regulation and innovation: A necessity to strike a balance

Without constant nurturing through communication and collaborative efforts, the pursuits of legislators and businesses would be fruitless. Repeatedly, proponents of disruptive technologies have proven that regulation and innovation have an immense potential to actualize a mutually beneficial existence.

Congress sees two new bills looking to chart CFTC and SEC regulatory turf in crypto

A big day for crypto legislation in the United States. Two major crypto bills were introduced in the US House of Representatives on Thursday.

EU Proposes Full Regulatory Framework for Cryptocurrencies

The European Commission has formally proposed legislation that will provide a comprehensive regulatory regime for cryptocurrencies.

Declare Your Bitcoin or We’ll Take 30% of it – Draft Russian Law

Russia’s seemingly never-ending quest to find consensus on crypto-specific legislation has taken a new turn – with the country’s finance ministry proposing a set of measures that could see failure to report crypto holdings made illegal, and punishable with potentially massive fines. Kommersant reported that under new draft legislation put forward by the

South Korean Crypto Exchanges Search for ‘Seamless’ AML Solutions

With just months to go before new legislation comes into force requiring all of South Korea’s crypto exchanges to implement strict anti-money laundering (AML) policies, the race is now on to adopt solutions ahead of time – and avoid falling foul of the law. So which AML solutions are South Korean crypto exchanges adopting ahead of next year’s legal changes?

Binance US on track to launch in all 50 states by 2021

‘100% coverage is our goal,’ said Binance US. New legislation may make it possible for Binance US, the American branch of crypto exchange Binance, to open its doors to all traders in every state by next year. According to a Sept.

What Japan’s New Prime Minister Has Said About Bitcoin

A look at Yoshihide Suga's comments on Bitcoin in the past and how they fit in Japan's push for clear crypto legislation.

Switzerland Parliament Blockchain Act Reform Validates Crypto and Digital Assets

The Swiss parliament has revamped and clarified legislation on blockchain technology and digital currencies activity in the country (Read More)

Blockchain Proposals Move to US House in Consumer Tech Bill

The Consumer Safety Technology Act will now be debated in the House of Representatives.

Russian Ministry’s Crypto Mining Plans ‘a Cause for Concern’

The Russian Ministry of Finance wants to ban crypto miners from receiving token rewards leading to what newspaper Izvestia has called “a de facto ban on the circulation of cryptoassets in Russia.” The newspaper said it has seen Ministry of Finance-drafted legislation proposals pertaining to a forthcoming crypto law that politicians claim may be ready for parliamentary

ETC Labs believes regulation is the key to preventing future 51% attacks

Enacting such legislation effectively could be a major challenge, however. Responding to numerous 51% attacks on the Ethereum Classic blockchain, ETC Labs said that it's time to bring regulation to hashpower rental marketplaces, citing the fact that at least two of the attacks were perpetrated by renting hash power through NiceHash — a claim that has been confirmed by both NiceHash and ETC Labs.  ETC Labs CEO Terry Culver also shared with Cointelegraph that according to the information that was provided by CipherTrace, which was hired to investigate the attacks, the attackers used proceeds from the first attack to rent hashpower for the second attack.

Indian exchange CoinDCX cements crypto educational agenda

Crypto exchange CoinDCX announces two new professional training courses for cryptocurrency traders and experts. Despite concerns about possible anti-crypto legislation in the near future, Indian crypto firms are rolling out educational programs and professional training for the crypto-curious.  Cryptocurrency exchange CoinDCX announced on Sept.

Wyoming's 'Crypto Cowboy' unsaddled in primaries by alt-right candidate

The house Majority Whip fell as right wing factions sought to remove moderate Republicans from the party, but blockchain legislation is safe, says Tyler Lindholm. Wyoming State Representative and long-time crypto champion Tyler Lindholm has been unseated in the Republican state primaries by a candidate representing the far-right of the party. So far it is unclear how this may affect the state’s blockchain friendly legislation, although, following his defeat, Lindholm said he was “100% confident the [blockchain] laws are safe and secure,” according to a report by Forbes. The upset came as part of a determined push by right-wing donors, conservative advocacy groups and factions within the Wyoming Republican Party, which netted a number of key victories over incumbents. As many of the Republican candidates will be unopposed in the general election, local news outlet Star Tribune noted that it was likely to have significant implications on policy. Lindholm’s role as Majority Whip helped him to push through a number of pieces of blockchain friendly legislation during his time in office, positioning Wyoming as one of the top US states for blockchain-related businesses. This has attracted the attention of big name companies within the industry such as Kraken and IOHK. With his experience of US legislation surrounding blockchain technology, Lindholm shouldn’t have too much difficulty finding himself a lucrative industry position should he so desire. Certainly he appeared to have taken defeat on the chin in a Facebook live address the day after the primaries: “This is a rough year.

Lysander Spooner: Natural Law – The Science of Justice

The science of mine and thine – the science of justice – is the science of all human rights; of all a man’s rights of person and property; of all his rights to life, liberty, and the pursuit of happiness.

New Bill in Germany Proposes to Digitize Securities With Blockchain

The arrival of digitized securities is one of the core aspects of the federal government's blockchain strategy, German authorities say. Federal regulators in Germany are looking to modernize the country’s securities with blockchain technology. On Aug.

Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus

Kazakhstan has proposed legislation that would see a 15% tax imposed on bitcoin mining firms.

IP Australia and National Rugby League Use Blockchain Against Fake Products

The intellectual property rights issuer of Australia will use blockchain to help NRL fight the sale of counterfeit merchandise. Australia’s top-tier rugby league, the National Rugby League, along with IP Australia will trial a blockchain-based application to curb the sale of counterfeit products. IP Australia is an agency of the Department of Industry, Innovation and Science that orchestrates and regulates the issuance of intellectual property rights and legislation relating to patents, trademarks, registered designs and plant breeder's rights in Australia. Genuine products will be tagged with trust badges According to a ZDNet report, the new application uses blockchain to enable trademark owners to link their products to the government register.

China Didn’t Ban Bitcoin Entirely, Says Beijing Arbitration Commission

Bitcoin-related activities are not prohibited by the Chinese government as the cryptocurrency acts as a virtual commodity. China, one of the world’s most strict jurisdictions for cryptocurrency trading, has not completely banned Bitcoin (BTC), a local non-profit arbitration organization says. According to a July 30 report published by the Beijing Arbitration Commission (BAC), China's prohibition of Bitcoin is more nuanced than some have suggested. Bitcoin does not constitute money in China In the report, the BAC clarified China's legal stance on cryptocurrencies like Bitcoin and outlined major crypto-related activities that are prohibited by the government.  According to the BAC, China prohibits token funding and trading platforms from engaging in exchanges between the legal tender and virtual currency or tokens. The commission then states that the same law that bans cryptocurrency as money, recognizes it as a virtual commodity.  Furthermore, existing laws are, according to the BAC, not specific enough to regulate Bitcoin as virtual property: "The "General Principles of Civil Law" do not make specific provisions on the extension and connotation of virtual property, but only stipulates that the protection of virtual property must be stipulated by law, and the specific protection measures of virtual property are entrusted to other laws.

Russia’s Central Bank Keeps Insisting That Crypto Is ‘Criminal’

Russia’s central bank argues that crypto purchases are not considered an investment. Despite Russia recently passing its first major legislation devoted to cryptocurrencies, the country’s central bank continues to treat the industry as a criminal area. Sergei Shvetsov, the first deputy governor at the Bank of Russia, has voiced the bank’s negative stance towards crypto investment.

It Might Be 'too Early to Celebrate' Russia’s New Crypto Law

Russia’s new crypto legislation was finally approved this week, after a delay of over two years – but it might be that the true battle for crypto regulation in the country is yet to begin. A local expert has hinted that when policymakers decided to divide the “On Digital Assets” bill into two, they effectively ended up kicking the can further down the road. A long

Russian Lawmakers Finally Pass Country’s Major Crypto Bill

Russia’s newly passed crypto bill finally provides a legal status to crypto, but does not allow it to be used as a payment method. Russia passed a major bill today related to cryptocurrencies like Bitcoin (BTC). The State Duma — Russia’s legislative body — has passed a bill titled “On Digital Financial Assets” in its final third reading, local news agency Regnum reports July 22. After initiating the bill back in 2018, Russian authorities have finally agreed to provide a legal status to cryptocurrencies, preparing to adopt the first major part of legislation for the industry.  Following the latest Duma’s decision, the bill “On Digital Financial Assets,” or DFA, is expected to be officially adopted in Russia on Jan.

Chinese Supreme Court Favors Strengthening Cryptocurrency Property Rights

China’s Supreme Court has called to strengthen property laws pertaining to digital currency, network virtual property and data. The Chinese Supreme Court believes that cryptocurrency property rights should be strengthened. In a document published on July 22, China’s Supreme Court calls for strengthening the protection of property rights pertaining to — among other things — “digital currency, network virtual property, and data.” The official court opinion aims to “promote the improvement of a modern property rights system with clear ownership.”  The document also mentions the intention to strike against the “use of public power to infringe private property rights, illegal seizure [...] and freezing of private enterprise property.“ Furthermore, the court’s statement calls for the punishment of all types of infringement on property rights, including embezzlement and sale of state-owned and public assets.

Change Of Heart? Russia Might Not Criminalize Bitcoin

A recent report indicated that the Russian parliament is discussing a toned-down version of its legislation on cryptocurrencies.

Updated Russian Crypto Bill Defangs Punishments for Using Crypto

Newest version of Russian bill “On Digital Financial Assets” does not criminalize crypto usage, but there is one more bill that might. A new version of Russia’s major draft bill on cryptocurrency regulation does not include criminal offence codes as lawmakers are expected to hold the bill's second reading tomorrow. According to official records of the State Duma, Russia’s legislative body, the Duma’s Committee on Financial Market has proposed the second reading of the bill “On Digital Financial Assets,” or DFA, on July 21. In the Russian legislation system, each bill is subject to three readings as it passes the development from draft to adoption.

Cryptocurrencies Have ‘No Way’ to Comply With US Anti-Encryption Bills

US Senate bills meant to crack down on encryption could have negative effects for privacy-oriented tech, including cryptocurrencies, entrepreneurs and critics say.