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Kyrgyzstan central bank plans to introduce licenses for crypto exchanges The central bank of the Kyrgyz Republic wants to provide crypto investors with the same level of protection that is already in place in traditional finance. 2828 Total views News The National Bank of the Kyrgyz Republic, or NBKR, is reportedly planning to introduce a licensing regime for cryptocurrency exchanges in a move to protect local investors. NBKR chairman Tolkunbek Abdygulov announced that the country’s ...

Innovative development The program contains the status of implementation of actions under the program and a road map for further actions. Fintech development strategy of the NBU until 2025 (the “Strategy”) (link) Based on the above Strategy, in July 2020 the NBU approved the mid-term strategy of development of the fintech sector in Ukraine until 2025. In particular, this document structures and details the trends and directions of financial innovation development for the next five years. Th...

Guide: A complete low-down on crypto-currency regulation in India February 9, 2021 The Indian government is contemplating introducing legislation to ban crypto-currency trading, mining and investments in the country. At the same time the proposed legislation will pave the way for the Reserve Bank of India (RBI) to create a Central Bank-backed Digital Currency (CBDC). While the government’s decision to ban crypto-currency trading in India is still at an incipient stage, the final contours of t...

To embed, copy and paste the code into your website or blog: On 18 December, the Financial Crimes Enforcement Network (FinCEN) at the U.S. Department of the Treasury announced highly anticipated and controversial new proposed requirements designed to mitigate illicit finance risks associated with “unhosted” virtual currency wallets and wallets hosted in certain foreign jurisdictions with weak anti-money laundering regimes. Unlike customers who rely on the custody services of financial insti...

To print this article, all you need is to be registered or login on Mondaq.com. December 2020 – On 2 December 2020, Ukraines parliament adopted in the first reading the Bill on Virtual Assets No. 3637, which is available in Ukrainian here). The proposed legislation is the latest in a series of attempts by lawmakers to regulate virtual currencies or, more broadly, virtual assets in Ukraine. However, in the current proposal the parliament has approached the matter in a ...

Ukrainian parliament adopts bill on virtual assets in the first reading Ukraine December 16 2020 On 2 December 2020, Ukraine’s parliament adopted in the first reading the Bill on Virtual Assets No. 3637, which is available in Ukrainian here. The proposed legislation is the latest in a series of attempts by lawmakers to regulate virtual currencies or, more broadly, virtual assets in Ukraine. However, in the current proposal the parliament has approached the matter in a more consistent manner�...

Cryptoassets for investment and financing Regulatory threshold What attributes do the regulators consider in determining whether a cryptoasset is subject to regulation under the laws in your jurisdiction? Cryptoassets may be subject to regulation depending on whether they fall within the jurisdiction of a particular existing regulation. For example, if a cryptoasset is considered a security, then it may be regulated by the Financial Investment Service and Capital Market Act. If a cryptoasset is...

Congress Members Introduce Stablecoin Legislation  On December 2, 2020, Congresswoman Rashida Tlaib (MI-13), Congressmen Jesús “Chuy” García (IL-04) and Chairman of Task Force on Financial Technology Rep. Stephen Lynch (MA-08), announcedStablecoin Tethering and Bank Licensing Enforcement (STABLE) Act (the Act), which, among other points, proposes to impose obligations on issuers of stablecoins. For example, the Act would: Require prospective stablecoin issuers to obtain a banking charter...

Coinsilium Group Limited: Coinsilium to enter Virtual Asset and Digital Collectible market DJ Coinsilium Group Limited: Coinsilium to enter Virtual Asset and Digital Collectible market Coinsilium Group Limited (COIN) Coinsilium Group Limited: Coinsilium to enter Virtual Asset and Digital Collectible market 10-Dec-2020 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The iss...