Uruguay Passes Cryptocurrency Law
Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to…
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Saudi Arabia Leads MENA in Crypto Growth for Second Year Running
Saudi Arabia has emerged as the fastest-growing crypto economy in the Middle East and North Africa (MENA) region for the second consecutive year. Unlike other MENA countries, Saudi Arabia’s and…
Seychelles Approves Bill on Virtual Asset Regulation
The Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as…
Peru Issues VASP Regulation, Strengthens AML/TF Requirements
The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of…
Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025
According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second…
Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF
Three-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to…
Central Bank of Brazil Aims to Finalize Crypto Regulations This Year
The Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish…
Kenya Establishes Working Group to Draft Rules Governing Crypto Entities
The Kenyan government recently established a multi-agency technical working group tasked with developing a framework for regulating and monitoring the cryptocurrency industry. The group, which includes financial regulators such as…
Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground
Nigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence…
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by…