In the past week a lot of is around the globe time and again in terms of regulatory events. In our regulatory response we look back at the week end and summarize what was thought about when, where, and by whom said, or decided.
Chile’s Parliament for Blockchain-adaptation
Two Chilean members of Parliament have tabled an amendment to increase the adaptation of the Blockchain technology to the Parliament. As the local news portal Fortin Mapocho reported, Miguel Angel Calisto and Giorgio Jackson directly to President Sebastian Pinera. The requirement: to implement The Blockchain in all public institutions in the country. The benefits of such an implementation are listed in the document.
Ukraine: work group for crypto-taxation
The Ukrainian Finance Ministry wants to deal in the future with crypto-currencies and their impact on the domestic economy. To do this, you want to begin with the taxation of crypto currency. Thus, the Ministry established a working group to develop a concept of exactly how the state could tax the local crypto-Economy benefit.
UAE: ICOs should come from 2019
The financial market regulator of the United Arab Emirates has expressed himself positively on the subject of Initial Coin Offerings. So far, the issue of new crypto-currencies as a Crowdfunding method in the Arab country not allowed. That could change now. As this week it became known, to open the domestic capital market in the year 2019 for ICOs. As reported by Reuters, is to apply the Coins of ICOs as a securities.
Singapore: banks and crypto sector to bring together
The Chairman of the Singapore financial market authority intends to strengthen the dialogue between the local crypto-sectors and the banks in the country. So Ravi Menon, Director of the Monetary Authority of Singapore (MAS) said that he wanted to create a balanced and regulated environment for crypto-companies that want to be in the city-state. A bridge between the old and the new financial Economics is to help.
EU: ESMA illuminated ICO regulations
The EU will soon be a pan-European regulatory basis for Initial Coin Offerings? The European Securities and Markets Authority (ESMA) wants to put now hard to find such. To do this, you want to find out in the next time more Details about this financing instrument. In the ideal case, you want to find an already existing scheme, which allows ICOs to apply.
South Korea: ICO decision comes in November
You can remove the ICO-ban in South Korea now, at last, again? The new tones will be heard from Seoul, might suggest. The local magazine “The Investor” reported to be announced in November a decision on the subject. In recent weeks, the debate around the Initiative two members of the government party is cooked.
UK: regulation could take two years
In the face of the threat of a Brexit, the United Kingdom comes on no green branch. Jeff is a merchant, Legal Director of the law firm Reynolds Porter Chamberlain, the government also in terms of crypto-regulation is not a good testimony. As his report shows, it could take another two years for clarity on the island. It’s stupid that you were to leave the EU here, the ambitions are probably faster.