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Crypto.com Weekly Regulatory Update ( 03/03/2022 – 09/03/2022 , Week 9)
U.S. President Joe Biden signed an executive order about digital assets on Wednesday, to ensure responsible development of digital assets including cryptocurrencies. The order, the first "whole-of-government" approach to regulating the crypto industry, directs federal agencies to examine potential regulatory changes.
The State Duma of Russia conducted a meeting to discuss a draft law on Saturday that tries to establish a legal framework for crypto transactions. This ‘On Digital Currency’ bill, submitted before Russia ran into conflict with Ukraine, aims to regulate crypto investment while restricting their use in payments.
Swiss city Lugano announced on Friday that its residents would be able to pay taxes, parking tickets, public services, and tuition fees using Bitcoin, Tether, and its own LVGA tokens, as part of its goal to become a major European blockchain hub.
Brazil’s Central Bank has chosen nine partners that will assist it with the development of a central bank digital currency (CBDC). Meanwhile, the central bank of India is expected to roll out its CBDC this year, and the Philippines’ central bank also intends to move forward with a research project that focuses on a potential CBDC.
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