Global Crypto Regulatory News - 1 June 2024

May 31, 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.

Global Crypto Regulatory News - 1 June 2024
  • US May Pass Crypto Control to CFTC

With a new act being passed by congress, the possibility of crypto regulatory control shifting from the SEC to the more crypto-friendly Commodity Futures Trading Commission gets closer.

  • Proposed US Bill Seeks to Ban Crypto Mixers

A two-year ban for crypto mixers is on the cards with the introduction of the ‘The Blockchain Integrity Act’ in the US House of Representatives.

  • New Law Protects Bitcoin and Digital Asset Holders in Oklahoma

Legislation enacted in Oklahoma includes allowances for crypto purchases and their use as payment, protects miners and node operations.

  • Arkansas to Regulate Cryptocurrency Mining

If signed, a new bill in Arkansas will require crypto mining to be licensed and will also place limitations on noise output and ownership of mines amongst other aspects.

  • UK Empowers Law Enforcement to Combat Illicit Crypto

Police in the UK will be able to seize, freeze or in some cases destroy crypto found to be used in criminal activity as increasing numbers of criminals find crypto isn’t as anonymous as they thought.

  • Argentina Looks Towards Crypto Adoption

Proposals set to be put in front of the Senate would incentivise the adoption of crypto through preferential tax incentives for citizens who disclose undeclared crypto sooner rather than later.

  • P2P Crypto Trading Under Threat in Nigeria

Due to national safety concerns, Nigeria’s National Security Adviser is set to clamp down on peer-to-peer trading citing concerns over price volatility and fraudulent activity.

  • AML Regulations Tighten in Taiwan

In an effort to combat fraud and unregistered services, backed up by the threat of hefty fines and jail time, Taiwan looks at strengthening protection through improving AML laws.