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The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring session. Updated Law ‘On Digital Currency’ Filed With Russian Government Russia’s Ministry of Finance … Read more
The National Bank of Georgia is taking steps to regulate the crypto market in the Southern Caucasus country, its governor revealed in a recent interview. While companies in the industry are to expect a licensing regime, financial institutions have already been banned from providing crypto-related services. Central Bank of Georgia to Propose Cryptocurrency Regulations Georgia’s … Read more
A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space. Russia … Read more
Members of the European Parliament have approved a controversial regulation that could undermine the decentralized finance (defi) sector in the EU. Some of its provisions, which are yet to be coordinated with other European institutions, aim to introduce restrictive measures for transactions involving privately managed crypto wallets. EU Parliament Moves to Introduce Verification for Defi … Read more
Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month. Government of Japan to Close Loopholes for Russians in Crypto Space Amid concerns … Read more
The legal vacuum in the crypto mining sector must be filled “as soon as possible,” according to a statement by Russian Deputy Minister of Energy Evgeniy Grabchak. The government official also called for introducing regional quotas for crypto farms instead of regulating their business at the federal level. Russian Official Proposes Regional Energy Quotas for … Read more
On Tuesday, Digital Currency Group’s (DCG) mining subsidiary, Foundry Digital, announced the company has joined the Texas Blockchain Council (TBC), a nonprofit industry association in the state of Texas. Foundry detailed the newly formed alliance is aimed at Foundry’s efforts to “help shape the regulatory landscape for digital assets” in North America. Foundry Becomes a … Read more
The Markets in Crypto Assets (MiCA) regulatory package passed another potential hurdle this week and is moving to the next stage of the EU’s legislative process. Proponents of a controversial text prohibiting proof-of-work (PoW) cryptocurrencies, which was recently dropped from the draft, did not take an opportunity to block the draft’s progress. EU Parliament, Commission … Read more
Prime Minister Mikhail Mishustin and the Russian Ministry of Economic Development have backed efforts to regulate cryptocurrencies and integrate them into the country’s economy. The support comes amid mounting sanctions over the war in Ukraine which restrict Russia’s access to global finances. Finance Ministry’s Push to Legalize Russian Crypto Space Gains Traction Russian authorities are … Read more
Regulators in Thailand have decided to limit the use of cryptocurrencies as a means of payment. The authorities consider the country’s current payment system efficient and insist cryptos would only bring risks for the financial system, economy, people and businesses. Thailand SEC Issues Regulations Limiting Use of Digital Assets for Payments Financial regulators in Thailand … Read more
