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Crypto.com Weekly Regulatory Update ( 17/03/2022 – 23/03/2022, Week 11)
Lawmaker’s bill to stop US crypto exchanges from dealing with Russian wallets. Web3 is key to the future of China’s internet, says regulator.
U.S. Representative Brad Sherman plans to introduce a bill that would require U.S.-based crypto exchanges to stop facilitating transactions with Russian crypto wallets.
An executive from China Securities Regulatory Commission published an article saying that Web3 will be key to the future of China’s internet and that it will solve the problems of monopoly, lack of privacy, and malicious algorithms.
Australian Senator Andrew Bragg has proposed the Digital Services Act (DSA), which calls for reforms in crypto market licensing, custody, DAOs, debanking, and taxes. The senator revealed his legislative proposal during the Australia Blockchain Week conference.
On Monday, the Communications Ministry of Malaysia proposed to the Malaysian Government that cryptocurrencies should be adopted as legal tender. The ministry also said that it will look into ways to increase youth involvement in digital currencies.
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