South Korea’s financial watchdog declares support for digital assets amid crackdowns
It appears that the FSC is making a U-turn and has announced that it will promote the use of digital currency and safeguard the interest of investors.
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Revolut granted FCA license to offer digital asset services in UK
Revolut was the only firm on the FCA’s temporary registration regime and is now licensed to offer digital asset trading and custodial services in the U.K.
California governor vetoes state’s ‘BitLicense’ bill, calls it premature
Gov. Gavin Newsom nixed the bill, which would have created a licensing regime for VASPs similar to New York’s BitLicense, calling for a more flexible approach.
Dubai issues new guidelines for digital assets marketing, promotion and advertising
The VARA rules cover all digital asset-related communications leveraging Dubai-based media sites, search platforms, and publishing channels that target customers within the Emirate.
Philippines demonstrates sustained animosity towards foreign digital exchanges
The Philippine central bank is not closing its doors to developments in digital currency exchanges but remains cautious about the potential risks of using foreign VASPs and investing in digital assets.
Philippines: Virtual Asset Service Provider license applications paused for 3 years
Firms at Stage 2 of application before Aug 31 will be processed under the move, which is meant to strike a balance between protection and promoting innovation.
Thai SEC grants operating licenses to 4 more digital assets firms
Despite approving its licenses, the Thai securities regulator still needs to inspect the firms' operations before they can kick off market activities, a report noted.
Colombian regulator calls for public comments on digital assets regulations
The proposal is open to the public for feedback until August 12, 2022, per the notice on the SFC's website. A form is provided for the filing of comments.
US regulator to waive some securities laws for digital asset firms to encourage compliance
SEC Chair Gary Gensler says that waiving some rules will lead more firms to “come in and talk” at a time when lawmakers are blaming digital assets for failure to protect investors.
HM Treasury rolls back proposal to collect data from unhosted digital currency wallets
The Exchequer stated that it had not found enough evidence of unhosted wallets posing a more significant risk for illicit use of digital assets to warrant pushing through with the proposal.
Belgium’s FSMA releases registration steps for digital assets firms
The conditions went into force last May 1 and bind any legal person in Belgium that provides exchange services on digital currencies, legal currencies, or custody wallet services.
NYDFS gets additional oversight authority over digital currency firms
The New York financial watchdog was assigned the responsibility of developing a new assessment mechanism for VASPs in the state’s new budget for 2023.