Global CryptoReg Roundup #004

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The Global CryptoReg Roundup is a weekly digest of crypto-focused political, regulatory, and legal news from across the globe.

No frills or needless exposition. Just the facts (ma'am)....

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Marshall Islands

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• Marshall Islands developing sovereign cryptocurrency.

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Australia

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• Taxation Office declares it will utilize new AML laws to investigate crypto investor tax cheats.

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Japan

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• The Financial Service Agency is considering implementation of regulations on ICOs.

• Additional 132 investors join the class action lawsuit against Coincheck in aftermath of NEM hack.

• Crypto exchange industry association officially announces formation, to ask government recognition as approved regulatory body.

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North Korea

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• Former NSA official: DPRK is believed to have obtained at least 11,000 bitcoin through mining and hacking in 2017.

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China

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• Regulators planning to investigate bank and financial payment accounts of those suspected of trading crypto via offshore venues.

• China targeting chat groups as part of larger crypto crackdown.

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Malaysia

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• New crypto regulations go into effect, mandating exchanges follow KYC/indentification rules.

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Thailand

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• TDAX exchange halts ICO registrations until the Thai SEC releases regulatory framework.

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Singapore

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• Central bank examining whether more regulation is necessary.

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India

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• Two widely-used crypto exchanges suspend all trading amid regulatory pressures.

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Uzbekistan

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• The President of Uzbekistan decreed that government ministries should draft a law legalizing crypto by the end of September.

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Russia

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• Court rules that cryptocurrency can’t be seized as payment to bankruptcy debtors.

• Tax exemption proposed for all profits from crypto mining.

• Saint Petersburg court struck down a bank on 40 bitcoin-related informational sites.

• Ministry of Telecom and Mass Communication proposes setting up fiat exchange for miners.

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Iran

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• Iran’s Information Minister announces that it is working to develop its own cryptocurrency.

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Israel

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• Israeli Supreme Court: banks are prohibited from limiting accounts associated with the crypto industry.

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Kenya

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• Kenya is setting up task force to evaluate blockchain tech advantages & risks.

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South Africa

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• Alleged scam at BTC Global results in $50 million in losses, primarily for South African investors.

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Nigeria

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• Central Bank again reaffirms that crypto currencies and exchanges are not licensed or regulated, and that citizens should be wary.

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European Union

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• EU financial services chief: EU may move ahead on crypto regs if global bodies do not.

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Germany

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• Finance Ministry Report addresses taxable events for bitcoin transaction and miners.

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Liechtenstein

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• Bank Frick & Co. becomes first financial institution in Liechtenstein to allow direct investments in crypto.

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Belgium

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• Multiple investigations of crypto traders underway by Special Tax Inspectorate.

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United Kingdom

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• UK poised to regulate crypto in a way that will be “advantageous to all stakeholders”.

• Labour Shadow Home Secretary: Bitcoin is “a gigantic Ponzi scheme” used to fund terror.

• BOE head calls for crypto regulations.

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Iceland

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• A 100% renewable energy crypto mining facility planned for Iceland.

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Canada

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• TD Bank becomes the latest financial institution to ban crypto purchases via credit card.

• Crypto scams were the #5 financial crime in Canada last year.

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United States

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• SEC subpoenas issuers of ICOs, SAFTs including TechCrunch founder, and is conducting a review of Overstock’s tZero ICO.

• SEC head predicts more crypto enforcement actions if industry players don’t change their behavior.

• Coinbase to turn over account info of 13,000 users to IRS.

• CFTC head allows employees to trade crypto.

• California legislator introduces bill to legalize blockchain-based contracts, electronic records, and electronic signatures.

• The city of Berkeley, CA is developing a plan to turn municipal bonds into digital currency.

• Man who claimed to be Satoshi Nakomoto sued for stealing $5 billion from dead business partner.

• New York state senators hold a roundtable with industry leaders on reforming state’s BitLicense system.

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Mexico

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• Crypto regulation bill passes Chamber of Deputies, awaits signature by President Nieto.

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Trinidad & Tobago

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• T&T Securities and Exchange Commission issues warning to investors that no regulatory protections are in place for ICOs.

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Venezuela

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• Venezuela may limit the number of domestic crypto exchanges to just eight.

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• The Financial Action Task Force (FATF), an organization of 35 countries and EU, is working to revise regulations on cryptocurrencies, focusing on AML and terrorist funding.

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• Indian police arrest man for setting up a fake trading platform.

• Waltonchain comes under fire after apparent rigged giveaway is revealed.

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• CoinDash announced that a hacker returned approx. 30,000 ETH tokens, valued at $26 million.

• Hackers steal 18.7 BAR tokens, force a fork of Titanium blockchain.

• rTorrent client misconfigruation vulnerability exploited to mine Monero.

• Analyst: NEM (XEM) coins stolen from Japanese exchange Coincheck traced to Vancouver-based exchange.

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*Thoughts, comments, and corrections are always appreciated. Cheers!*

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|| @bubbleboy ||

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**Protect your crypto assets with a [Ledger Nano S](http://amzn.to/2F09GEX) or [Trezor](http://amzn.to/2EoGIBw)**

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