Global cooperation in crypto regs coming to light

[Tehol_Beddict]

I’m suggesting this possibility based on the timing of all the regs coming through at similar times...

Thailand:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwj8kqzH_vXfAhWIdN8KHQ_hATMQzPwBegQIARAC&url=https%3A%2F%2Fwww.ccn.com%2Fnewsflash-thailands-finance-ministry-grants-licenses-to-three-crypto-exchanges%2F&psig=AOvVaw0Mqyh-yr0bnCTPjuP8vHrI&ust=1547854787286549

Russia:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwiPl6-dgfbfAhXMmuAKHWwGCbYQzPwBegQIARAC&url=https%3A%2F%2Fwww.financemagnates.com%2Fcryptocurrency%2Fregulation%2Frussian-parliament-to-implement-crypto-regulations-in-february%2F&psig=AOvVaw2F6QPA8f2ZP5CYtcEJdtag&ust=1547855504560434

Bahrain and UAE: https://www.google.com/amp/s/amp.thenational.ae/business/technology/experts-call-for-regulations-to-govern-cryptocurrencies-1.813685

China:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwjhg_fe__XfAhXSm-AKHZZCB5AQzPwBegQIARAC&url=https%3A%2F%2Fwww.ccn.com%2Fchina-to-implement-regulation-for-blockchain-companies-in-february%2F&psig=AOvVaw1wzu7NrRtL6ODhHj3_DoHK&ust=1547855105182047

India:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwix0IOPgPbfAhXKmOAKHe4IB1sQzPwBegQIARAC&url=https%3A%2F%2Fwww.ccn.com%2Findia-could-legalize-cryptocurrency-as-government-panel-mulls-strict-regulations%2F&psig=AOvVaw09zPM441grBpI2kuQYrZEN&ust=1547855206050044

EU:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwiVjOqDgfbfAhVOhuAKHXb-A_QQzPwBegQIARAC&url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Feuropean-banking-authority-report-urges-steady-approach-to-cryptocurrency-regulation&psig=AOvVaw1rgo9yMbw9HMBjb0XMgfZD&ust=1547855451110130

Israel:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwje0eikg_bfAhUvmuAKHWr3DUoQzPwBegQIARAC&url=https%3A%2F%2Fwww.ccn.com%2Fisraels-central-bank-and-other-agencies-seek-public-input-in-crypto-regulation-initiative%2F&psig=AOvVaw3Ajy8U8QKYJlPQz3w2sK2q&ust=1547856057054586

Bermuda:

https://www.google.com/url?sa=i&source=newssearch&cd=&ved=2ahUKEwjYtNHmg_bfAhVkg-AKHR0pC9sQzPwBegQIARAC&url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbermuda-financial-regulator-releases-draft-regulation-for-crypto-custodial-services&psig=AOvVaw18Oe73NBKDnnqs3A7P2SIE&ust=1547856195083135

Please share if you know of more recent regulatory progress.

 

[Shuz]

Wow thanks for all the info!!

[davygravy77]

Brilliant, who do you think would be the guiding hand here? IMF or the countries central banks themselves?

Edited January 18, 2019 by davygravy77

[Tripple]

11 minutes ago, davygravy77 said:

Brilliant, who do you think would be the guiding hand here? IMF or the countries central banks themselves?

I'd say the IMF is in the perfect position to chaperone the formation of these regulations at a national level, being a supranational entity that's focused on global stability and regulation. 

[JBW]

Thank you for sharing. I am happy to see EU here

[kenrino]

thanks for sharing this, you should also post it on https://www.reddit.com/r/Ripple/

Edited January 18, 2019 by kenrino

[swanny86uk]

Think this fits in with the same timeline for Mexico. Would put "Pertinent regulations to be published within a year from the enactment of the law", points to March 2019?

https://www.loc.gov/law/help/cryptocurrency/mexico.php

[mistatee2000]

Great research as ever

Isn't it sad to see that the USA and to some degree the UK are not seemingly thinking ahead

[Tehol_Beddict]

3 hours ago, davygravy77 said:

Brilliant, who do you think would be the guiding hand here? IMF or the countries central banks themselves?

BIS, G20, IMF, IOSCO. All of these are lead by central banks and the countries themselves so I'm not sure there's much difference. It's hard to saw which is leading the charge.

[Danny]

10 minutes ago, Tehol_Beddict said:

BIS, G20, IMF, IOSCO. All of these are lead by central banks and the countries themselves so I'm not sure there's much difference. It's hard to saw which is leading the charge.

I'd say BIS leads central banks. Sixty central banks and monetary authorities are currently members of the BIS and have rights of voting and representation at general meetings. Excellent post by the way @Tehol_Beddict

Edited January 18, 2019 by Danny

[Flintstone]

1 hour ago, mistatee2000 said:

Great research as ever

Isn't it sad to see that the USA and to some degree the UK are not seemingly thinking ahead

Final Report 

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf

[mistatee2000]

44 minutes ago, Flintstone said:

Final Report 

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf

Thank you for that. I know that the UK has not been idle in this matter, but unless I am mistaken, they are certainly not yet at the stage of clarity where Malaysia and Singapore find themselves. In other words, or more to the point, in the words of the report there is still work to be done

Quote

There is therefore a need to consider carefully how regulation could meaningfully and effectively address the risks posed by exchange tokens and what, if any, regulatory tools would be most appropriate. The government will issue a consultation in early 2019 to further explore whether and how exchange tokens and related firms such as exchanges and wallet providers could be regulated effectively, in the case that other measures outlined in this report do not adequately address all relevant risks.

Continued patience in a fast moving and dynamic environment is required - seems to be a contradiction in there, but I'm enjoying the journey 

[Flintstone]

@mistatee2000 Another bit of relevant info: https://www.fca.org.uk/publications/consultation-papers/global-financial-innovation-network

 

I’m hoping the UK regulatory framework of DLT will tie in with the open banking deadline dates. 

https://www.finextra.com/blogposting/15699/will-fis-be-ready-by-march-14-2019-for-psd2-open-banking

The United Kingdom Financial Conduct Authority (FCA) though has recently re-iterated their guidance to the UK market around the importance of these dates.

Edited January 18, 2019 by Flintstone
Format

[mike91]

The Netherlands

Source doc, released today:
https://www.dnb.nl/binaries/Crypto_tcm46-381603.pdf?2019011817

Dutch news article:
https://www.emerce.nl/nieuws/afm-dnb-pleiten-cryptoregulering-internationaal-niveau

[Tehol_Beddict]

Wyoming -

“Wyoming has introduced a bill that aims to clarify the legal position of digital assets, as well as offer digital asset custody through banks”

https://www.forbes.com/sites/darrynpollock/2019/01/18/wyoming-introduces-bill-offering-cryptocurrencies-legal-clarity-to-attract-blockchain-business/amp/?ss=crypto-blockchain&utm_source=TWITTER&utm_medium=social&utm_content=2087367833&utm_campaign=sprinklrForbesCrypto&__twitter_impression=true