Crypto.com Weekly Regulatory Update (23/12/2021 – 29/12/2021, Week 51)
The SEC rejected Kryptoin’s proposal for a Bitcoin ETF. U.S. Senator Lummis plans comprehensive crypto bill.
Key Takeaways
The U.S. Securities and Exchange Commission (SEC) rejected investment firm Kryptoin’s proposal for a spot Bitcoin exchange-traded fund (ETF) on 23 December, about five weeks after the agency rejected VanEck’s application for a spot Bitcoin ETF.
U.S. Senator Cynthia Lummis is planning on introducing a comprehensive crypto bill in 2022 to address everything from how digital assets are taxed and classified to consumer safeguards. The legislation would also regulate stablecoins, establish crypto tax laws, and create consumer protections.
Turkey's crypto law is ready for the Parliament, President Recep Tayyip Erdoğan confirms. The law, once implemented, will introduce a new economic model that can potentially help recover the falling value of the Turkish lira.
Retail crypto mining in Thailand has reportedly risen because of the capitulation of Chinese miners triggered by a national crypto mega ban enforced in September.
Highlights
U.S. Senator Lummis to introduce a comprehensive bill for Bitcoin in 2022
Korean government tells Apple and Google stores to take down P2E games
Turkey slaps Binance with USD 750,000 fine as national crypto law readies for parliament
El Salvador buys 21 more Bitcoins to mark last ‘21st’ of 2021
Salvadoran President Bukele fires back at critics on ‘Bitcoin experiment’
U.S. SEC rejects Kryptoin’s spot Bitcoin ETF proposal
Regulators have left Australian crypto firms in limbo, says M.H. Carnegie & Co. founding partner
Indian police commissioner issues a public warning against crypto frauds
Iran halts authorised crypto mining to save energy for winter
‘Big Four’ firms ask Indian executives to disclose crypto investments
Crypto mining reportedly rises in Thailand due to Chinese crypto ban
Global Crypto Policies (over the past 3 months)
*Ranking based on 2020 nominal GDP
G20's Regulatory Stance on Crypto
Source: WhiteSight
Worldwide Policies on Crypto Taxation
Data as of 13 Sep 2021 Sources: 3Commas; Decrypt; BusinessWord; Koinly
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Crypto.com Weekly Regulatory Update (23/12/2021 – 29/12/2021, Week 51)
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