Crypto Week in Review: Regulations and Enforcement Oct 2024
09 Oct 2024

 

The global regulatory landscape for cryptocurrency is evolving quickly, with significant developments from various regions:

IMF Pressures El Salvador on Bitcoin Regulations

The International Monetary Fund (IMF) continues to push El Salvador to revise its Bitcoin laws and scale back its reliance on BTC as legal tender. Despite the IMF’s concerns, many of the predicted risks have yet to manifest since Bitcoin's adoption in 2021. Read more

Coinbase to Delist Unauthorized Stablecoins in the EU

Coinbase will remove all unauthorized stablecoins from its platform in the European Union by December 30 to comply with MiCA regulations. The new rules require stablecoin issuers to secure e-money licenses, putting pressure on major players like Tether.io. Read more

UAE Exempts Crypto Transfers from VAT

The UAE has amended its VAT regulations, exempting crypto transfers and conversions from VAT, retroactively effective from January 2018. These changes are part of the country's broader efforts to streamline crypto operations. Read more

Taiwan Strengthens AML Regulations for Crypto Firms

Taiwan has introduced stricter anti-money laundering (AML) regulations for crypto companies, with a compliance deadline set for 2025. Non-compliance will lead to significant penalties as the country tightens oversight of virtual asset service providers. Read more

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