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.
The FCA has assumed more oversight responsibility in the crypto industry, including becoming the KYC and AML enforcer. Companies will need to be licensed afresh.
China has implemented new policies to foster blockchain and the launch of a state-backed digital currency.