China's Latest Crypto Crackdown: New Rules Target Cross-Border Transactions
China unveils strict regulations requiring banks to flag and potentially block crypto-related cross-border transactions, adding to its existing restrictions on cryptocurrency activities. While China maintains its hardline stance, other nations have taken varied approaches to crypto regulation, with some previously restricted countries now considering legalization.
UK Financial Watchdog Intensifies Crackdown on Illegal Crypto Advertising
The FCA has identified over 1,700 unauthorized cryptocurrency promotions in the UK, successfully removing 54% while targeting influencers and implementing stricter advertising controls. Google's upcoming policy changes will require FCA registration for UK crypto advertisers starting January 2025.
Binance Makes History with First Crypto Broker-Dealer License in Brazil
Binance secures groundbreaking approval from Brazil's Central Bank to acquire Sim;paul, becoming the first crypto exchange with a broker-dealer license in the country. This milestone marks Binance's 21st global regulatory achievement and enables expanded services in Latin America's largest economy.
Jordan Unveils Ambitious 2025 Blockchain Strategy to Modernize Government Services
Jordan's government has approved a comprehensive Blockchain Technology Policy aimed at revolutionizing public services and administrative operations by 2025. The initiative focuses on implementing blockchain solutions to enhance efficiency, data security, and transparency while developing local expertise and supporting blockchain startups.
Swiss Bitcoin Initiative: Voters May Force Central Bank to Hold BTC Reserves
Switzerland's Federal Chancellery has approved the 'Bitcoin Initiative,' paving the way for a potential national referendum on requiring the Swiss National Bank to hold Bitcoin reserves. The groundbreaking proposal could make Switzerland one of the first countries to mandate cryptocurrency holdings for its central bank.
Italy Sets New Crypto Tax Rate at 26% in 2025 Budget Law
Italy's Senate has approved significant changes to cryptocurrency taxation, setting a 26% rate on capital gains starting 2025, with a planned increase to 33% in 2026. The new law removes the €2,000 exemption threshold and offers an 18% substitute tax option for assets held by January 2025.
Treasury and IRS Unveil Controversial DeFi Reporting Rules, Crypto Industry Pushes Back
The U.S. Treasury and IRS have finalized new reporting requirements for DeFi brokers, mandating documentation of digital asset sales similar to traditional securities. The decision faces strong opposition from crypto industry leaders who question its timing and legality, particularly regarding KYC implementation requirements.
DeFi Industry Groups Challenge IRS Crypto Broker Regulations in Landmark Lawsuit
The Blockchain Association and partners have filed a lawsuit against the IRS over new rules classifying DeFi platforms as brokers. The regulations, requiring transaction reporting and KYC compliance by 2027, face criticism for overstepping authority and imposing technically unfeasible requirements.
Cambodia Embraces Regulated Stablecoins While Maintaining Bitcoin Ban
Cambodia's central bank has authorized commercial banks to handle specific cryptocurrency services, focusing exclusively on backed digital assets while maintaining restrictions on Bitcoin. The groundbreaking directive includes strict consumer protection measures and requires explicit regulatory approval for crypto-related services.
Russia Imposes Regional Cryptocurrency Mining Ban Until 2031
Russia announces comprehensive restrictions on cryptocurrency mining across 10 territories, effective from 2025 to 2031, to preserve power grid stability. The ban primarily affects regions including Dagestan and Chechnya, while three additional areas face seasonal limitations during peak energy periods.