![GlobalCryptoReg Roundup2.gif](https://steemitimages.com/DQmbKmkayd9rsGYHMqeYGy17bQw52YfDd2e8VZkipdmPtJT/GlobalCryptoReg%20Roundup2.gif) -------------- Introducing the first edition of the **Global CryptoReg Roundup**, a weekly digest of crypto-related political, regulatory, and legal news from across the globe. No frills or needless exposition, "just the facts, ma'am"... -------------- -------------- ![ASIA.png](https://steemitimages.com/DQmYV6Wd9FbSrqVfFEk1B1i6L4R6mM9XoCSjRptnG7nqYRU/ASIA.png) ### Japan -------------- * In the wake of the Coincheck/NEM $530M hack, Japanese regulators plan to [ramp up onsite exchange inspections](https://www.coindesk.com/japanese-financial-regulator-increase-crypto-exchange-inspections/). -------------- ### South Korea -------------- * South Korean exchange [Coinpia is forced to suspend trading](https://www.ccn.com/new-south-korea-crypto-regulation-burden-forces-smaller-exchange-to-suspend-trading/). They were unable to open a bank account accepting South Korean Won after failing to comply with new de-anonymity rules. * The Supreme Court of South Korea will rule on [whether recently-introduced crypto regulations are consitutional]( https://news.bitcoin.com/korean-supreme-court-judge-cryptocurrency-regulation-unconstitutional/). * Prime Minister Lee Nak-yeon states that closing crypto exchanges is ["not a serious consideration now"](https://news.bitcoin.com/korean-prime-minister-closing-crypto-exchanges-not-serious-consideration/), however it remains "one of the many possibilities." -------------- ### Hong Kong -------------- * The Securities and Futures Commission of Hong Kong [issued warnings to seven exchanges](http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=18PR13) not to trade cryptocurrencies that are legally securities, leading some exchanges to cease offering tokens to investors. -------------- ### China -------------- * After attempts to halt crypto trading domestically, [Chinese authorities will ramp up measures to ban access to foreign exchanges and ICOs](https://cointelegraph.com/news/ban-complete-china-blocks-foreign-crypto-exchanges-to-counter-financial-risks). -------------- ### Thailand -------------- * Thailand's Finance Minister [confirmed crypto will remain legal](https://www.bangkokpost.com/news/general/1409298/apisak-says-digital-coins-will-remain-legal), and that a a regulatory framework will be finalized within a month's time. -------------- ### Singapore -------------- * Singapore may be [reconsidering whether a regultory framework for crypto and ICOs](https://www.coindesk.com/singapore-lawmakers-question-prime-minister-over-crypto-regulation/) will be drafted. -------------- ### India -------------- * After initial reports of a crytpo ban in India, [government leaders walked back the idea](https://www.forbes.com/sites/sindhujabalaji/2018/02/06/india-is-not-banning-cryptocurrency-heres-what-it-is-doing-instead/#6590deaf7c6f) while announcing that [work on a legal framework is in process](https://sputniknews.com/business/201802061061396504-india-plans-regulation-crypto-coins/). * India Taxation authority sent [100,000 notices to residents that failed to declare crypto investments on their tax returns](https://www.coindesk.com/indias-tax-department-is-sending-notices-to-crypto-investors/). -------------- ### Armenia -------------- * Proposed legislation in Armenia would [legalize crypto mining and incentivize miners via tax breaks](https://news.bitcoin.com/law-legalize-crypto-mining-introduced-armenia/) -------------- -------------- ![AFRICA.png](https://steemitimages.com/DQmXXm1Emx6z7Nw7qVo9byVAuTUppQStXZadbSuhaRiidQe/AFRICA.png) -------------- ### Ghana -------------- * Ghana issues its first official digital currency: [Finchcoin](https://www.bitsonline.com/ghana-africa-finchcoin/). -------------- -------------- ![EUROPE.png](https://steemitimages.com/DQmQCzV5CbYzDbAyGqTQPw8auyuWmChNSXgJjggkUaX7xTU/EUROPE.png) -------------- ### European Union -------------- * European Central Bank (ECB) leader states that regulating crypto ["not exactly very high on our to-do list"](https://cointelegraph.com/news/cryptocurrency-regulation-not-high-on-to-do-list-says-european-central-bank) while the European Securities and Markets Authority states that crypto will [top their agenda in 2018](https://www.coindesk.com/cryptocurrency-tops-eu-watchdogs-2018-agenda/). * Meanwhile, ECB Exec Yves March [compares Bitcoin to tulips; states it is not money; and equates it to a Ponzi scheme](http://www.businessinsider.com/ecbs-yves-mersch-compares-bitcoin-to-ponzi-scheme-in-cryptocurrency-speech-2018-2?r=UK&IR=T). -------------- ### Italy -------------- * BitGrail [loses $170 million of Nano/RaiBlocks coins in hack](https://www.engadget.com/2018/02/10/bitgrail-170-million-unauthorized-transactions/). Bitgrail and Nano teams point the finger at each other. ### Spain -------------- * The central bank of Spain [issued a warning on the risks associated with crypto and ICOs](https://ibsintelligence.com/ibs-journal/ibs-news/spanish-central-bank-warns-cryptocurrency-government-seeks-regulation/) while noting that no currencies or ICOs have registered with regulatory agencies. * Meanwhile, government officials have [pushed for legislation to encourage investment](http://m.europapress.es/economia/finanzas-00340/noticia-pp-quiere-espana-lidere-tecnologia-blockchain-creacion-nuevas-criptomonedas-bitcoin-20180207151037.html) while remaining in compliance with anti-money laundering rules. -------------- ### Gibraltar -------------- * Gibraltar to usher in first ICO regulations, to include [“the concept of regulating authorized sponsors, who will be responsible for assuring compliance with disclosure and financial crime rules”](https://www.pymnts.com/news/regulation/2018/gibraltar-moves-toward-worlds-first-ico-regulations/). -------------- -------------- ![NORTH AMERICA.png](https://steemitimages.com/DQmQcKAWpvahnMikAiZZCw7DpR6wLWhWc7Vc1jBBPyLoSvK/NORTH%20AMERICA.png) -------------- ### Canada -------------- * Canadian regulators are pushing [Google to ban crypto and ICO advertising](https://www.timesofisrael.com/regulator-calls-on-google-to-ban-ads-for-binary-options-and-cryptocurrencies/) following Facebook’s decision to ban them. -------------- ### United States -------------- * Regulatory heads from the SEC & CFTC testified before Senate Banking committee. For a detailed breakdown of the hearing, check out this [Steemit Deep Dive from yours truly](https://steemit.com/cryptocurrency/@bubbleboy/deep-dive-sec-and-cftc-testimony-on-crypto-before-banking-committee). -------------- -------------- ![GLOBALISTS.png](https://steemitimages.com/DQmYv2oQDVzDnZtWYmnvpLqFQowsmR2Z9vo9oELoNp7v9gj/GLOBALISTS.png) -------------- -------------- * World Bank Group President Jim Yong Kim [claims "the vast majority of cryptocurrencies are basically Ponzi schemes"](https://www.bloomberg.com/news/articles/2018-02-07/cryptocurrencies-are-like-ponzi-schemes-world-bank-chief-says). * Agustin Carstens, head of the Bank for International Settlements (BIS), [described crypto as "a combination of a bubble, a Ponzi scheme and an environmental disaster"](https://bitcoinist.com/global-banking-kingpin-in-fud-spreading-shocker/). He added: "[I]f authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability" * France & Germany [push for global action on cryptocurrencies at next G20 meeting](https://cryptovest.com/news/france-germany-push-for-g20-discussion-on-global-crypto-regulation/) -------------- -------------- ![PONZI WATCH.png](https://steemitimages.com/DQmZNX7zxdxLW3Dbxe53u23YWDLohrE7GZT2wHehUdwmHuJ/PONZI%20WATCH.png) -------------- * DavorCoin [received a Cease and Desist Order from the Texas State Securities Board](https://discover.coinsquare.io/investing/davorcoin-cease-desist/). DavorCoin promised a "monthly interest rate up to 48%" and promotional structure similar to BitConnect, offering "‘special bonus rates for leaders and promoters,’ inciting others to recruit new investors in exchange for monetary reward." ---------------- ---------------- *Thoughts, comments, and corrections are always appreciated. Cheers!* -------------- --------- ## || @bubbleboy || -------- --------- **Protect your crypto assets with a [Ledger Nano S](http://amzn.to/2F09GEX) or [Trezor](http://amzn.to/2EoGIBw)** -------- -------- ![Steemit Bloggers](https://steemitimages.com/DQmYhhQejEA2pV2iAoMDotLaAuxdvXgichD6ddXkbFJGfKy/steemitbloggers.gif) [![Appreciator](https://steemitimages.com/DQmT23Akd2EGD5njf6BTmjpSKxkXeQVXLoRhzabCm7xwMuz/appreciator_small.png)](www.steemit.com/@appreciator) _{Animated Banner Created By @zord189}