Iran has clamped down on the digital currency industry even further, with new laws requiring that all digital currency exchanges be licensed by the central bank.
The Cayman Islands has proposed a legal framework for the digital currency industry, including a regulatory sandbox for companies to build their products.
The PBoC has expanded its fintech regulation, which was previously only in Beijing, to six more cities as China seeks to become the global fintech hub.
Bittr, a BTC savings service based in the Netherlands has announced that it’ll shut down on April 28, blaming the way AMLD5 has been implemented in the country.
South African financial regulators have recommended new and stricter regulations for digital currencies, but will allow them to be used for domestic payments.
A report drafted by the European Parliament Research Service suggests that regulations for digital assets are needed as quickly as possible.
Russia has postponed its digital currency law yet again, this time blaming the coronavirus pandemic that has slowed down legislative processes in the country.
Zimbabwe’s central bank is to introduce a regulatory sandbox for digital currency companies as the regulator changes its tough stance on digital currencies.
FinCEN has announced that it is preparing guidance on a new framework to oversee the cryptocurrency space.
Kyberswap claims the new regulations would increase costs, but stricter AML regulations might mean their entire operation is at risk.
Patel believes that one reason blockchain isn’t being applied is because some gov’t officials fear the increased transparency will thwart their corrupt ways.