Cryptocurrency Regulation Update

Sep 24^th

The People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited. Overseas cryptocurrency exchanges providing services in mainland China are also illegal, the PBOC said.

https://www.cnbc.com/2021/09/24/china-central-bank-vows-harsh-crackdown-on-cryptocurrency-industry.html

Sep 22^nd

UAE Securities & Commodities Authority signs agreement with Dubai World Trade Centre Authority to support trading of crypto assets

https://www.dwtc.com/en/press/securities-and-commodities-authority-signs-agreement-with-dubai-world-trade-centre-authority-to-support-trading-of-crypto-a-2021

Sep 7^th

El Salvador becomes the first country to adopt Bitcoin as legal tender

https://www.cnbc.com/2021/09/07/bitcoin-retreats-from-the-highest-level-since-may-as-el-salvador-adopts-it-as-legal-tender.html

Jun 29^th

Mexico bans crypto at banks after billionaire promotes Bitcoin

https://nypost.com/2021/06/29/mexico-bans-crypto-at-banks-after-billionaire-promotes-bitcoin/

Apr 16^th

Turkey bans crypto payments

https://cryptonews.com/news/turkey-bans-crypto-payments-9938.htm#:~:text=Turkey%20Bans%20Crypto%20Payments%20%28UPDATED%29%20Turkey%E2%80%99s%20central%20bank,at%2007%3A41%20UTC%3A%20updates%20throughout%20the%20entire%20text.

Mar 18^th

Thai central bank sets a precedent by banning Baht pegged Stablecoin

https://cryptonews.com/news/thai-central-bank-sets-a-precedent-by-banning-baht-pegged-st-9584.htm

Feb 12^th

Nigerian senators blast central bank for its crypto ban

https://cryptonews.com/news/nigerian-senators-blast-central-bank-for-its-crypto-ban-9210.htm

Jan 6^th

UK’s crypto derivatives ban starts

https://www.financemagnates.com/cryptocurrency/regulation/uks-crypto-derivatives-ban-starts-today/

Should cryptocurrencies be...?

1. Banned

2. Regulated

3. Physically asset backed

4. Unregulated as currently