Global Crypto Regulatory News - 1 April 2024

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.

  • EU Passes New Crypto Asset Sanctions Law

Legislation covering crypto assets introduced by the EU is designed to standardize how sanctions are enforced across the member states, seeking to close loopholes that can be exploited.

  • UK Empowers Law Enforcement to Combat Crypto Crime

Law enforcement agencies will soon be better able to seize crypto assets, including those held in exchanges and custodial wallets, if they are linked to involvement in illicit activity.  

  • Virginia Bill Positive for Crypto and Blockchain 

The newly-passed bill will see a workgroup created, tasked with exploring the crypto space and recommending how to encourage the development of blockchain technology, digital asset mining and cryptocurrency.  

  • Wyoming Advances DAO Legal Standing

The future of DAOs in Wyoming is progressing with the signing of a bill which grants them legal status, enabling DAOs to open bank accounts, appear in court, pay taxes etc. 

  • Russian Regulation for Digital Asset Settlements

Russia has approved the use of digital assets in making payments in international transactions with the introduction of a law that sees them regulated under the authority of the Central Bank of Russia. 

  • Argentina Develops VASP Regulation

New regulations for Virtual Asset Service Providers which promote KYC and AML have come into play in Argentina, requiring VASPs to register with the country’s Comisión Nacional de Valores. 

  • Dubai Reveals New Digital Asset Law

The Dubai International Financial Centre is introducing legislative reforms designed to introduce laws around digital assets and their regulation. 

  • South African Regulator Issues Crypto Platform Licenses 

Sixty crypto platforms are set to be licensed by the end of the month in South Africa, with many more waiting as the country’s Financial Sector Conduct Authority embraces regulating crypto assets. 

  • Hungary Proposes Crypto Trading Law

A new law in Hungary will see domestic banks able to offer crypto to customers and the Hungarian National Bank supervising new crypto assets and overseeing the domestic trading of tokens. 

  • Estonia to Regulate Crypto Service Providers

New Legislation in Estonia introduces stricter regulatory standards for crypto businesses and will see companies come under the supervision of the FSA in the next few years.