Introducing the first edition of the Global CryptoReg Roundup, a weekly digest of crypto-related political, regulatory, and legal news from across the globe.
No frills or needless exposition, "just the facts, ma'am"...
South Korean exchange Coinpia is forced to suspend trading. They were unable to open a bank account accepting South Korean Won after failing to comply with new de-anonymity rules.
The Supreme Court of South Korea will rule on whether recently-introduced crypto regulations are consitutional.
Prime Minister Lee Nak-yeon states that closing crypto exchanges is "not a serious consideration now", however it remains "one of the many possibilities."
European Central Bank (ECB) leader states that regulating crypto "not exactly very high on our to-do list" while the European Securities and Markets Authority states that crypto will top their agenda in 2018.
Meanwhile, ECB Exec Yves March compares Bitcoin to tulips; states it is not money; and equates it to a Ponzi scheme.
The central bank of Spain issued a warning on the risks associated with crypto and ICOs while noting that no currencies or ICOs have registered with regulatory agencies.
Meanwhile, government officials have pushed for legislation to encourage investment while remaining in compliance with anti-money laundering rules.
World Bank Group President Jim Yong Kim claims "the vast majority of cryptocurrencies are basically Ponzi schemes".
Agustin Carstens, head of the Bank for International Settlements (BIS), described crypto as "a combination of a bubble, a Ponzi scheme and an environmental disaster". He added: "[I]f authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability"
France & Germany push for global action on cryptocurrencies at next G20 meeting
Thoughts, comments, and corrections are always appreciated. Cheers!
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