There was a lot going on again in terms of crypto currencies, ICOs and regulation. So that you don’t lose the overview, here are the regulations in our weekly review.
Over the past week, a lot has happened around the globe in terms of regulation. In the series “Regulation in the Weekly Review” we look back at the end of the week and summarise what was said, thought or decided, when, where and by whom.
IRS Memo: Crypto currencies work similar to traditional currencies
The IRS kindly reminds citizens to pay their taxes also for crypto currencies. By the way, they grant crypto currencies a definition that ascribes similar characteristics to traditional currencies.
Tennessee defines Smart Contracts and Blockchain
The Governor signed a decree allowing the use of Blockchain and Smart Contracts for government purposes. In this way, the state lays the foundations for future regulations.
USA: Cloud act undermines privacy
On March 26 we reported that Donald Trump had signed the Cloud Act. The US president thus promotes the erosion of privacy – also of foreign customers. This means that governments will in future be allowed to request data from US companies.
2017: A good year for Blockchain patents
Although, from a regulatory point of view, not everything in China was running smoothly last year, the Blockchain patents increased. For example, the Chinese government continues to work on advancing research into technology in the country. She is prudent when it comes to blockchain regulation.
Consumer protection: ESMA introduces upper leverage limit
With a view to private investors, the European Financial Supervisory Authority has taken two steps towards regulation. On the one hand, consumers are now prohibited from trading in binary options. On the other hand, the authority introduced the leverage ceiling of 2:1 for crypto currencies. What this means in concrete terms, you can read here.
CBOE: “Bitcoin ETF interesting for private individuals”
While ESMA is keeping a concerned eye on private investors, the Chicago stock exchange CBOE appears to be less concerned. In a statement to the SEC, they emphasize that bitcoin ETFs can be of interest to individuals.
BLASEA sues Facebook
The Eurasian Blockchain Association BLASEA has no desire for Mark Zuckerberg’s restrictive policy. Therefore, the association has decided to sue Facebook. The reason for this is the ban on ICOs and crypto currencies.
Chilean banks refuse service
Completely unprepared the service for some crypto exchanges in Chile was stopped. The two exchanges BUDA and KryptoMKT now demand uniform regulation.