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"The crypto ecosystem is very different from that of traditional assets, so the rules must be tailored accordingly and not capture ecosystem participants that don’t have a pathway to compliance," said Kristin Smith, CEO of the Blockchain Association, in a statement shortly after the proposal emerged. Source
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South Korean legislators passed a first phase review of proposed regulations that would give the nation’s Financial Services Commission authority to investigate and supervise financial activity related to “digital assets,” including cryptocurrency.The proposed bill comes with myriad stipulations governing the sale, storage, and trading of cryptocurrencies with particular emphasis on
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Article 93 of the draft treaty would require all nations that sign the treaty to implement onerous financial surveillance laws for cryptocurrency. Those financial surveillance laws would apply to any organization “engaged in activities related to the circulation of digital financial assets and digital currency,” even if they are nothing
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