Global Crypto Regulatory News - 1 September 2023

June 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.

  • MiCA Scope May Not Cover Entire Crypto Ecosystem

The Director of Circle, Patrick Hansen, discussed what isn’t covered by the recent MiCA regulation, including low-volume offerings, and NFTs.

  • Coinbase Gains US Approval 

Following its legal battles with the SEC, the exchange has revealed it has gained approval from regulators for crypto futures trading for eligible clients in the US.

  • US to Introduce ID Requirements for 10k+ Crypto Purchases

Starting in 2024, the IRS is set to require American businesses to report crypto payments of over $10,000.

  • NY Judge Rules Another Crypto as Security

In the ongoing debate in the US as to if cryptos are securities, a judge in New York has ruled that Kin tokens are securities, though specified that it was due to the specifics of the particular token.

  • India Continues to Push for Global Regulation 

Leading the G20, India has been dealing with calls for clearer regulation at home and now outlines global regulation suggestions.

  • South Korea Seizes Crypto Tax Evader Assets

Proving their commitment to upholding their regulatory standards, South Korea is investigating exchanges to find tax evaders.

  • New Zealand to be ‘Neutral’ on Crypto

A parliamentary report in New Zealand has recommended that the government prepare regulatory policies and determine its legal stance on crypto to allow blockchain success but mitigate risks as the technology develops.

  • Namibia Regulates VASPs and Token Offering providers

Namibia continues the trend of African countries starting to embrace crypto and blockchain as the country’s central bank, the Bank of Namibia, regulates the service providers.

  • Israel Moves for DAO Regulation

New regulations are expected to encompass taxation and legal status as Israel launches a public consultation to decide on DAOs futures.

  • Binance Seeks Other Markets

Following issues in a number of jurisdictions, Binance is seeking to do business in El Salvador, Taiwan and Poland (to circumvent a ban in Belgium), with some success so far.