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FATF to Release New Rules for Global Crypto Sector, Impacting Exchanges, Funds, Custodians

On June 21, the Financial Action Task Force (FATF) will reportedly publish a note clarifying how participant nations should exercise oversight for the digital assets sector, according to FATF spokeswoman Alexandra Wijmenga-Daniel. The news was reported by Bloomberg on June 12.Per Bloomberg, the new rules will apply to a

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Israeli Supreme Court Rules in Favor of Cryptocurrency Exchange in Bank Dispute

The Supreme Court of Israel has declared that Leumi Bank cannot block the cryptocurrency exchange Bits of Gold’s account on the grounds of regulatory concerns, according to a report by Finance Magnates on June 3.Despite the Supreme Court’s ruling against Leumi, the bank reportedly maintains its stance against dealing

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World Economic Forum Inaugurates Global Blockchain Council to Address Lack of Well-Defined Rules for Working with Blockchain

Impressions during the Session: The Big Picture on Peace and Conflict at the King Hussein Bin Talal Convention Centre during the World Economic Forum on the Middle East and North Africa, Jordan 2019. Copyright by World Economic Forum / Faruk Pinjo To help policy-makers and businesses strike the right balance between

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Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains

An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21.The judgment is significant because it means profits made by selling the cryptocurrency will now be liable to capital gains tax, Globes notes.Noam Copel, who founded the blockchain startup DAV, had bought

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Canadian Regulator Introduces New Rules for Crypto Mining

Régie de l’énergie, the energy regulator of the Canadian province of Quebec, has released new rules for cryptocurrency miners. The development was announced by major Canadian electricity provider Hydro-Quebec on April 29.Under the new regulations, the Régie de l’énergie has ordered power producer Hydro-Quebec to allocate 300 megawatts (MW)

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Japanese Regulators to Introduce New Rules Regarding Exchanges’ Cold Wallets

Japan’s Financial Services Agency (FSA) will reportedly introduce new rules regarding cold wallets for storing cryptocurrencies at crypto exchanges, Reuters reported on April 17.Citing a source familiar with the matter, Reuters reports that the country’s financial regulator will reportedly require cryptocurrency exchanges to strengthen internal supervision of cold wallets

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Crypto Firm Bitpanda Secures Payments Service Provider License Under EU Rules

Viennese crypto and fintech firm Bitpanda has received a payment service provider license from Austria’s financial regulator. The development was reported by Cointelegraph auf Deutsch on April 4.The license has reportedly been issued to Bitpanda Payments GmbH by the Austrian financial market authority (FMA) in accordance with the European

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US SEC Solicits Feedback on Crypto Assets and Custody Rules

The United States Securities and Exchange Commission (SEC) is soliciting industry input as it potentially reconsiders existing custody rules in specific cases of digital asset trading and settlement.The SEC launched its information gathering initiative in an open letter to Karen Barr, president and CEO of the Investment Adviser Association,

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