On Day 1 of the CoinGeek Live 2020, some of the leading minds in the legal industry discussed the regulation of the digital asset industry.
In his keynote at CoinGeek Live, Congressman Darren Soto provided a better understanding of the balance lawmakers are trying to hit when it comes to optimizing innovation around blockchain and digital currency.
The laws take the form of an update to the Consumer Safety Technology Act, which encompasses both the Blockchain Innovation Act and the Digital Taxonomy Act.
The wait-and-see approach of most African governments is being challenged by the surge in adoption of digital currencies in the region.
The world does not need a new set of laws that specifically address blockchain and digital currency because the laws that already exist encompass them.
The new KYC laws will affect financial services providers and will require the use of social security numbers, which contravenes privacy laws.
Any local block reward mining operator must first obtain a license from the government, and be listed on a government register.
The new rules will aim to make it both quicker and cheaper to facilitate cross-border payments, with the help of blockchain and digital assets.
Autorité des marchés financiers updated its blacklist, adding dozens of firms that are outright scams or aren’t registered in France to offer their services.
The Gibraltar Financial Services Commission has overhauled seven of its nine guiding principles on which the regulatory framework is based.
The government of India is bringing in new laws on digital currency, with the effect of banning trading in the country.