US Security and Exchange Commission (SEC) Chair, Gary Gensler, recently revealed that the commission is working on a dossier for cryptocurrencies. The main goal of the platform is to unite all US financial regulators in the regulation of cryptocurrencies. The first goal is to reach an agreement with the US Commodity Futures Trading Commission on cryptocurrencies.
The United Kingdom has declined to implement a European Union rule requiring EU governments to monitor transactions on non-hosted digital wallets. The UK preferred to monitor transactions above a certain minimum amount to ensure compliance with financial regulations.
It seems regulators will not leave Meta, the parent company behind Facebook and Instagram, alone, even after the company abandoned its cryptocurrency projects. The new regulations drafted in the UK will target Metaverse developments.
Representatives of the Liberal Democratic Party of Russia plan to submit a draught law on the regulation of cryptocurrency mining. They also suggest setting up a working group with representatives of various government committees to discuss the issue.
The Reserve Bank of Australia (RBA) has advertised a position for a digital currency specialist. This is in line with the RBA's strategic plan to promote and support the development of payments in the country.
Governments are continuously recognizing cryptocurrency activities, including mining, through liberal legislation. Until recently, the surplus power was wasted. But some countries now want to use it for mining digital currencies.