An announcement by the UK’s Financial Conduct Authority (FCA) shows that the body has launched a three-year strategy to enhance outcomes for consumers. This measure includes an aggressive clampdown on firms that fail to meet the authority’s standards.
In its move to make the UK a crypto hub, The government plans to amend the existing regulations and bring certain stablecoin payments into its regulatory purview.
Coinbase Ventures is set to conduct an in-person pitching event for Indian cryptopreneurs to help boost the country’s growing crypto and Web3 industry.
India’s 30% tax on profits from cryptocurrencies came into effect yesterday being the 31st of March. In addition to this, the industry also faces the prospect of another 1% Tax Deducted at Source (TDS) expected to take effect by July 1.
Washington State Governor Jay Inslee has signed Blockchain Bill 5544 into law, after a turbulent 3 years and one veto from the day it was proposed. The Bill will see the state set up a working group that will research potential applications for blockchain technology.
Last year Kyrgyzstan introduced regulations on crypto exchanges and the crypto mining industry but the circulation of crypto assets remained unregulated. Now there are calls to legalize crypto assets and launch a national cryptocurrency.
The temporary registration regime set by the UK’s Financial Conduct Authority (FCA) is set to end by March unless extended. With three days left, many crypto firms that have been removed from the register or remain in the register without full approval are at the risk of being shut down. A decision that has led most of them to consider moving operations abroad.
Russia is looking towards cryptocurrencies in the face of biting economic sanctions. This is evident with the recent call by its official for crypto mining to be legalized as soon as possible. This and the decision to receive payment for oil and gas in bitcoin is a major shift from the federation’s position on cryptocurrencies a few months ago.
The Bank of England’s Financial Policy Committee (FPC) in a report, is assessing the risks and the financial stability implications of cryptoassets and decentralized finance to the financial system. This will provide a future regulatory framework for crypto and decentralized finance.
The US senate which has since expressed concern over El Salvador’s adoption of Bitcoin as a legal tender, yesterday proposed legislation on the ‘accountability for cryptocurrency in El Salvador’. This move, according to the proponents of the legislation, is to mitigate risks the adoption of cryptocurrency by its Central American trading partners poses to the US economy.
