Regulatory Recap — November 2021
The Regulatory News Recap highlights events, news, and press releases from the world’s regulatory bodies. To receive this monthly Regulatory Recap to your inbox, sign up at digitalassetresearch.com/newsletter.
Argentina
Argentina to Tax Crypto Exchanges — boletinoficial.gob.ar — 11/17/2021
Austria
Austria to Tax Crypto Like Stocks and Bonds — Bloomberg — 11/9/2021
Canada
Canada Needs a Loonie-Linked Digital Currency — cdhowe.org — 11/25/2021
China
China’s CBDC Has Been Used for $9.7B of Transactions — Yahoo Finance — 11/3/2021
Bank of China Reveals Machine That Converts Foreign Currency to Digital Yuan — CoinDesk — 11/8/2021
China’s NDRC to Consider Punitive Electricity Prices for Crypto Mines — China.com.cn — 11/16/2021
Chinese Local Government Warns of Digital Yuan Fraud — xiongan.gov.cn — 11/19/2021
El Salvador
IMF: Bitcoin Should Not Be Legal Tender in El Salvador — IMF — 11/23/2021
Europe
European Commission Urges Members to Agree on Crypto Regulations- bankingsupervision.europa.eu — 11/11/2021
European Council Takes One Step Closer to Ratifying Landmark Crypto Regulation- consilium.europa.eu — 11/24/2021
France
Banque de France Calls for Further Examination of Wholesale CBDCs — banque-france.fr — 11/9/2021
Global
BIS Report Questions Whether Stablecoins, CBDCs Can Create Risks in Developing Countries — BIS — 11/1/2021
Basel Committee to Review Proposed Capital Requirements for Banks With Crypto Assets — CoinDesk — 11/9/2021
Binance Seeks Investments From Sovereign Wealth Funds — Financial Times — 11/23/2021
Hong Kong
Hong Kong’s SFC Has Received Multiple Requests for Crypto ETFs — CoinDesk — 11/3/2021
India
Indian Crypto Companies to Meet With Lawmakers Next Week — Business Insider — 11/12/2021
India to Ban Crypto as Payment Method but Regulate as Asset — Economic Times — 11/17/2021
Indian Central Bank May Pilot Test CBDC in 2022 — Business Standard — 11/18/2021
India Has No Plans to Recognize Bitcoin as Currency; RBI Working on CBDC Rollout — Livemint — 11/29/2021
Indian Finance Minister Says Monitoring Crypto Ads; Not Weighing Ban — CoinDesk — 11/30/2021
Indonesia
Indonesia’s Religious Leaders Declare Crypto Illegal for Muslims — Bloomberg — 11/11/2021
Indonesia’s Central Bank Wants to ‘Fight’ Crypto With CBDC — Bloomberg — 11/30/2021
Israel
Israel’s New AML Rules May Help Banks Onboard Crypto Clients — justice.gov.il — 11/16/2021
Kazakhstan
Kazakhstan Limits Crypto Investment for Retail Players — kapital.kz — 11/4/2021
Kazakhstan Passes Law to Monitor Crypto Services for Money Laundering, Terrorism Financing — sputnik.kz — 11/5/2021
Kazakhstan’s Crypto Miners Face New Regulations After Contributing to Power Shortages — CoinDesk — 11/12/2021
Nigeria
Nigeria’s eNaira Wallet Nears 500,000 Downloads in First 3 Weeks — Bloomberg — 11/16/2021
Peru
Peru’s Central Bank Is Developing a CBDC — RPP Noticias — 11/16/2021
Russia
Russia’s Chief Taxman Says Crypto Could Erode State Taxation Profits — rbc.ru — 11/22/2021
Russians Conduct $5B Worth of Crypto Transactions a Year, Central Bank Says — cbr.ru — 11/29/2021
Singapore
Singapore’s Central Bank Is Laying the Foundations for a CBDC It Doesn’t Think Is Needed — Straits Times — 11/9/2021
South Africa
South African Pension Funds to Be Banned From Crypto Investment, Draft Rules Indicate — gpwonline.co.za — 11/1/2021
South Korea
S. Korean Regulator Says NFTs Are Not Virtual Assets — mbiz.heraldcorp.com — 11/5/2021
S. Korean Regulators Call for Criminal Punishments for Crypto Market Manipulation — CoinDesk — 11/25/2021
Spain
Spain’s Central Bank Requesting Financial Institutions to Outline Crypto Plans Until 2024 — Cincodias — 11/4/2021
Switzerland
Swiss Central Bank Ready to Run With wCBDC in January: ‘Just Takes a Policy Decision’ — CoinDesk — 11/9/2021
Tanzania
Tanzania Plans to Launch CBDC After eNaira Launch — Bloomberg — 11/29/2021
United Kingdom
Bank of England and UK Treasury to Assess Case for a CBDC Next Year — BOE — 11/9/2021
United States
SEC Delays Decision on Valkyrie Bitcoin ETF Until Next Year — SEC — 11/2/2021
US Lawmakers Call for Bitcoin Spot ETF in Letter to SEC Chair Gensler — house.gov — 11/3/2021
Biden Administration Sanctions Crypto Exchange Chatex Over Ransomware Allegations — treasury.gov — 11/9/2021
SEC Stops Wyoming-Based DAO From Registering 2 Digital Tokens — SEC — 11/11/2021
President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law — CoinDesk — 11/15/2021
DOJ to Sell $56M in Crypto Proceeds From BitConnect Fraud Scam — CoinDesk — 11/16/2021
Federal Court Orders Florida Man and Foreign Defendants to Pay $7 Million for Role in Fraudulent Binary Options and Digital Asset Scheme — CFTC — 11/17/2021
IRS Seized $3.5B in Cryptocurrency During Fiscal 2021 — IRS — 11/18/2021
US Congressmen Introduce Bill to Modify Crypto Tax Provision in Infrastructure Law — CoinDesk — 11/18/2021
Blockchain Association Raises $4M to Grow Its Presence on Capitol Hill — CoinDesk — 11/18/2021
OCC Wants Banks to Seek Permission Before Offering Crypto Services — OCC — 11/23/2021
US Regulators Plan to Define Legal Bank Activities Around Crypto in 2022 — OCC — 11/23/2021
NY Fed Launches Fintech Research Wing With BIS Help — newyorkfed.org — 11/29/2021
Yellen Says Stablecoins Require Proper Regulations — CoinDesk — 11/30/2021
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