![Globe Purple.png](https://steemitimages.com/DQmS8woFpdvf37gJsCj1XtCSRyarQBUpJTnckFz4b9rsrSY/Globe%20Purple.png) -------------- -------------- -------------- The **Global CryptoReg Roundup** is a weekly digest of crypto-focused 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 -------------- * Japan’s two largest crypto industry associations [expected to merge in an effort to further protect traders and investors](https://www.newsbtc.com/2018/02/16/japanese-crypto-associations-merge-for-self-regulation/). * In the wake of the $530M Coincheck theft, Japan’s FSA announced it will [conduct on-site inspections of 15 unlicensed exchanges](https://ethereumworldnews.com/japans-government-inspect-15-crypto-exchanges-awaiting-certification/). -------------- ### South Korea -------------- * South Korea [considering a regulatory framework similar to New York state’s BitLicense system](http://techwireasia.com/2018/02/south-korea-eyes-adopting-new-yorks-crypto-regulation/). -------------- ### Thailand -------------- * Thailand’s central bank [bans financial institutions from engaging in cryptocurrency transactions](https://www.bangkokpost.com/business/news/1411254/central-bank-bans-banks-from-cryptocurrencies). -------------- ### India -------------- * A committee formed by India’s seven exchanges [to develop a central database identifying every buyer and seller to include tracking of all trading activity](https://cryptoslate.com/indian-bitcoin-exchanges-scramble-adjust-regulation/). * Citibank India [prevents customers from buying crypto with debit and credit cards](https://themerkle.com/citibank-india-is-preventing-customers-from-buying-crypto/). -------------- ### UAE -------------- * Abu Dhabi’s Financial Services Regulatory Authority (FSRA) [states crypto is “not legal tender," plans to draft a regulatory framework](https://smnweekly.com/2018/02/12/abu-dhabi-regulator-to-draw-crypto-regulations-reminds-of-risks/). -------------- ### Saudi Arabia -------------- * Saudi Arabia’s Capital Market Authority [issued a warning on cryptocurrencies, citing prevalence of fraud & volatility](http://blocktribune.com/cryptocurrency-warning-issued-saudi-arabia/). -------------- ### Russia -------------- * Russia drafting rules to [accredit issuers of ICOs](https://news.bitcoin.com/russia-drafts-bill-accredit-ico-issuers-public-comments/). * The president of Chechnya, Ramzan Kadyrov, [purchases Bitcoin](http://bitcoinist.com/chechen-republic-kadyrov-buys-bitcoin/). * Siberian power plants to [offer electricity to cryptocurrency miners](https://news.bitcoin.com/five-siberian-power-plants-attracting-cryptocurrency-miners-surplus-electricity/), while governors of Kaliningrad and Leningrad declare willingness to [welcome industrial-level crypto mining operations](https://news.bitcoin.com/russian-regions-to-develop-large-scale-crypto-mining/). -------------- -------------- ![AFRICA.png](https://steemitimages.com/DQmXXm1Emx6z7Nw7qVo9byVAuTUppQStXZadbSuhaRiidQe/AFRICA.png) -------------- ### Nigeria -------------- * Bitkoin Africa [launches first Nigerian exchange in beta: BuyCoins](https://techpoint.ng/2018/02/14/buycoins-teases-instant-cryptocurrency-exchange/). -------------- ### South Africa -------------- * In the wake of President Zuma’s resignation amid the Zupta scandal, South African banks to [leverage blockchain technology](https://cointelegraph.com/news/south-african-president-steps-down-as-banks-embrace-blockchain-technology). -------------- -------------- ![EUROPE.png](https://steemitimages.com/DQmQCzV5CbYzDbAyGqTQPw8auyuWmChNSXgJjggkUaX7xTU/EUROPE.png) -------------- ### European Union -------------- * Europol director estimates that roughly 4% of all criminal proceeds in Europe ($5.5 billion) are [laundered through cryptocurrencies](http://www.businessinsider.com/europol-criminals-using-cryptocurrency-to-launder-55-billion-2018-2). -------------- ### Austria -------------- * Austrian authorities [enlist help of Interpol to investigate “Optioment” scam](https://www.bloomberg.com/news/articles/2018-02-15/austrian-bitcoin-scam-triggers-police-search-across-europe), where losses may have reached 12,000 bitcoin ($115 million). -------------- ### Switzerland -------------- * Switzerland’s Finma [announces regulatory guidelines for ICOs](http://www.businesstimes.com.sg/government-economy/swiss-regulatory-unveils-new-rules-for-crypto-currencies) breaking them into three classes of offerings: payment tokens, utility tokens and asset tokens, the latter to be regulated as a security. -------------- ### Spain -------------- * Spain’s ruling party to [draft legislation "to set up Europe’s safest framework to invest in ICOs"](http://www.theolivepress.es/spain-news/2018/02/16/first-gibraltar-now-spain-as-government-draws-up-bitcoin-legislation/). -------------- ### United Kingdom -------------- * UK (& US) government websites [infected with malware to mine Monero](https://www.reuters.com/article/us-bitcoin-cyber/u-s-uk-government-websites-infected-with-crypto-mining-malware-report-idUSKBN1FV0VO). * The UK’s largest exchanges and crypto companies [form CryptoUK, a self-regulating trade body](https://www.financemagnates.com/cryptocurrency/news/preventive-measures-uk-crypto-companies-form-self-regulatory-body/). -------------- ### Iceland -------------- * Icelandic lawmaker [suggests taxing crypto mining companies](https://www.coindesk.com/icelandic-lawmaker-floats-bitcoin-mining-tax/). -------------- -------------- ![NORTH AMERICA.png](https://steemitimages.com/DQmQcKAWpvahnMikAiZZCw7DpR6wLWhWc7Vc1jBBPyLoSvK/NORTH%20AMERICA.png) -------------- ### United States -------------- * Credit Karma states that [only .04% of federal tax filers have declared cryptocurrency gains](https://www.cnbc.com/amp/2018/02/13/barely-anyone-is-paying-the-taxes-they-owe-on-their-bitcoin-gains.html). * The CFTC [issues first customer protection advisory on pump-and-dump crypto scams](http://www.cftc.gov/PressRoom/PressReleases/pr7697-18). * The SEC [suspends trading of three companies that accounced plans to sell their own cryptocurrencies](http://thehill.com/policy/finance/374199-sec-halts-trading-of-three-companies-promoting-crypto-sales). * Chicago trader [charged with stealing $2 million in crypto from employer](http://abc7chicago.com/feds-charge-24-year-old-chicago-trader-in-first-crypto-fraud-case/3091287/). * After [introducing a bill to accept Bitcoin for tax payments](https://www.coindesk.com/arizona-senators-pass-bitcoin-tax-payments-bill/), Arizona state legislators [introduce a bill attempting to define when ICOs will be classified as securities](https://www.coindesk.com/arizona-law-define-icos-securities/?utm_content=buffer62376&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer). * Four crypto-friendly bills [presented in Wyoming legislature](http://bitcoinist.com/wyoming-bitcoin-industry-blockchain-friendly-bills/). -------------- -------------- ![GLOBALISTS.png](https://steemitimages.com/DQmYv2oQDVzDnZtWYmnvpLqFQowsmR2Z9vo9oELoNp7v9gj/GLOBALISTS.png) -------------- -------------- * IMF head Christine Lagarde [declares international crypto regulation is “inevitable”](https://www.rt.com/business/418523-cryptocurrency-regulation-inevitable-imf/). * US Treasury official [calls for stronger international crypto regulations](https://www.coindesk.com/us-treasury-official-calls-for-global-crypto-regulation/). -------------- -------------- ![PONZI WATCH.png](https://steemitimages.com/DQmZNX7zxdxLW3Dbxe53u23YWDLohrE7GZT2wHehUdwmHuJ/PONZI%20WATCH.png) -------------- * New Jersey authorities [issue a cease and desist to crypto lending platform Bitstrade](https://cryptovest.com/news/bitstrade-another-scam-busted-for-aggressively-pushing-investment-opportunities/). * Purported ICO LoopX [completes exit scam after raising $4.5 million](https://thenextweb.com/hardfork/2018/02/12/cryptocurrency-loopx-scam-ico/). * Plaintiffs in Bitconnect lawsuit [allege that its founders also orchestrated the Onecoin ponzi scheme](https://themerkle.com/bitconnect-plaintiff-claims-its-founders-are-associated-with-a-large-ponzi-scheme-onecoin/). ---------------- ---------------- *Thoughts, comments, and corrections are always appreciated. 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