Hong Kong reiterates ‘crypto’ and stablecoin regulation pledge as crime skyrockets
Treasury Minister says Hong Kong is to introduce licensing regimes for VASPs, OTCs, and stablecoins to curb crime, which shot up five times in the past three years.
Treasury Minister says Hong Kong is to introduce licensing regimes for VASPs, OTCs, and stablecoins to curb crime, which shot up five times in the past three years.
The Financial Services Agency recommended that banks prohibit transfers to VASPs if the sender’s name differs from the account name, sparking concern in Japan over P2P crackdown.
The economic reform bill was approved by the Ministry of Industry, and it will enable venture capitals to invest in Web3 startups and receive digital assets in return.
The People Power Party is luring voters with promises to defer the upcoming taxes by another two years to 2027 and prefers implementing regulations first.
Despite regional adoption, banks in Honduras are now banned from investing in, intermediating, or maintaining accounts for entities involved in digital assets.
Proponents say the Act allows Americans to own and self-custody digital assets and engage in mining without fear of anti-crypto legislators.
A study by accounting firm Deloitte found that an increasingly complex regulatory landscape for digital assets was the most cited challenge by executives at 45%.
Looking to replicate the EU's effort to curb AI misuse amid rapid adoption, Peru is drafting a framework geared toward stifling misinformation, safeguarding users' privacy, and promoting transparency.
EU inches closer to having a CBDC after 48 LIBE members voted in favor of the digital euro, but it likely won't be until June 2024 before a full EU Parliament vote is heard.
While critics think that the European Union is over-regulating again with its AI Act, others see this as an advantage but admit that the rules may need to be updated in line with future AI developments.
A three-year license issued to virtual asset service providers (VASPs) in 2021 expires this year, and they have to renew it; South Korea’s FIU plans to use this opportunity to expel ‘unfit’ exchanges.
Under MiCA, a stablecoin is regarded as of systemic importance if it has over 10 million holders, has over €5 billion in reserves, or €500 million daily transactions.