Crypto regulation

Government officials and legislators in South Korea are now revising their crypto regulation and the ICO ban, as reported by ZDNet Korea.

The Supreme Court of India, the country’s top judiciary body, has extended the cryptocurrency case hearing after receiving an official request from the government’s counsel. It was expected that the court could hear about the India’s crypto regulation on March 29 before continuing to address the banking ban by the country’s central bank. The case has now been deferred up to July.

The two legal experts (L. Egitto and G. Busuttil) were recently interviewed to give light on where Italy stands on the regulation of blockchain, cryptocurrency, smart contract and other innovative technologies. Several institutions, firms, organizations, businesses and governments have been moving forward for few years especially in Europe, such as Switzerland with its Crypto Valley project (of the canton of Zug) and Republic of Malta started before any other country.

The cryptocurrency industry is growing at terrible speed across the world and this has forced investors, the public and executives to yearn for stronger and clearer regulations. In 2017 we saw the “Bitcoin (BTC) Bubble” with soaring prices and much care, focus, and attention directed towards digital currencies.

Strong regulations have been a fastidious problem that hindered development and adoption of digital currency all over the world. But as cryptos are becoming famous and significances of it becoming much apparent, regulators are doing everything possible to properly regulate rather than abrogating it. The most recent addition to the list is the Kingdom of Bahrain, a Middle East country, where the Central Bank has come out to issue a draft of rules regulating cryptos.

Russian deputies have removed the definition of cryptocurrency mining from a draft bill on crypto regulation prior to its next reading in the State Duma, however, the new law won't resolve tax concerns for miners.