legal framework – DIGIT INFO

UK Bill Recognizes Digital Assets as Personal Property Under New Law

DIGIT — Thu, 12 Sep 2024 01:30:59 +0000

The UK Ministry of Justice has introduced the Property (Digital Assets etc) Bill to recognize bitcoin and other digital assets as personal property under English and Welsh law. Led by Justice Minister Heidi Alexander, this bill addresses legal uncertainties around digital assets, ensuring better protection for owners in fraud cases and disputes. It also positions […]

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England’s Law Commission proposes new property category for crypto assets

DIGIT — Wed, 31 Jul 2024 08:56:38 +0000

The Law Commission’s final report advocates for legal reforms to better protect the unique features of digital assets.

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Kazakhstan Parliament Adopts Law Regulating Crypto Mining and Exchange

DIGIT — Mon, 30 Jan 2023 06:30:32 +0000

Lawmakers in Nur-Sultan have approved the final version of the law “On Digital Assets in the Republic of Kazakhstan.” The new legislation, including several other bills, regulates the circulation of cryptocurrencies in the country and introduces a licensing regime for crypto miners and exchanges. Senate Votes on Crypto Law, Sends It to President of Kazakhstan […]

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NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

DIGIT — Mon, 23 Jan 2023 20:00:57 +0000

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]

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Brussels to Put Out Digital Euro Law Shortly, ECB’s Lagarde Says

DIGIT — Thu, 10 Nov 2022 02:30:21 +0000

The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in […]

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Top Russian Lawmaker Joins Calls for Legalizing International Crypto Payments

DIGIT — Fri, 09 Sep 2022 05:49:46 +0000

A high-ranking member of the Russian parliament has urged for the adoption of a relevant legal framework to properly regulate cross-border crypto payments. His proposal comes after key regulators in Moscow said that Russia needs to allow the use of cryptocurrencies in foreign trade, now that it’s having to deal with serious financial restrictions. Financial […]

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Georgia to Update Crypto Regulations to Incorporate EU Rules, Legalize Industry

DIGIT — Thu, 01 Sep 2022 14:00:32 +0000

The government of Georgia has approved amendments to the legal framework for the Caucasian nation’s financial sector, including additional regulations for crypto and fintech activities. The move aims to align Georgian law with relevant EU provisions. Parliament of Georgia to Vote on Crypto Legislation in Coming Months A legislative package expanding the regulatory framework for […]

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Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations

DIGIT — Fri, 20 May 2022 05:30:24 +0000

Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added. Government of Cyprus to Submit ‘Attractive’ Crypto Bill Cyprus has an “enviable position” in the […]

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Belarus President Calls to Increase Regulation on Cryptocurrencies, Citing ‘China’s Experience’

DIGIT — Thu, 18 Mar 2021 20:30:59 +0000

The Belarusian president held a meeting over the week where he mentioned cryptocurrencies within the context of regulating the IT industry. Alexander Lukashenko hinted at tightening the regulatory framework to control crypto usage in Belarus. Lukashenko Seeks to Create a Unified Governmental Regulatory Body According to news agency Belta, Lukashenko met with senior government officials […]

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Dubai Financial Watchdog to Release Consultation Papers for a Crypto Regulatory Framework

DIGIT — Thu, 21 Jan 2021 09:30:37 +0000

The Dubai Financial Services Authority (DFSA) has unveiled its plans to create a regulatory framework for cryptocurrencies. The announcement was part of its 2021-2022 business agenda released this week. The Papers Will Be Released in the First Half of 2021 According to the watchdog, which regulates the Dubai International Financial Centre (DIFC), the upcoming crypto […]

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