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Cryptocurrency Regulation Update

by Chirag Sharma
Cryptocurrency Regulation Update

Sep 24th

The People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited. Overseas cryptocurrency exchanges providing services in mainland China are also illegal, the PBOC said.

https://www.cnbc.com/2021/09/24/china-central-bank-vows-harsh-crackdown-on-cryptocurrency-industry.html

Sep 22nd

UAE Securities & Commodities Authority signs agreement with Dubai World Trade Centre Authority to support trading of crypto assets

https://www.dwtc.com/en/press/securities-and-commodities-authority-signs-agreement-with-dubai-world-trade-centre-authority-to-support-trading-of-crypto-a-2021

Sep 7th

El Salvador becomes the first country to adopt Bitcoin as legal tender

https://www.cnbc.com/2021/09/07/bitcoin-retreats-from-the-highest-level-since-may-as-el-salvador-adopts-it-as-legal-tender.html

Jun 29th

Mexico bans crypto at banks after billionaire promotes Bitcoin

https://nypost.com/2021/06/29/mexico-bans-crypto-at-banks-after-billionaire-promotes-bitcoin/

Apr 16th

Turkey bans crypto payments

https://cryptonews.com/news/turkey-bans-crypto-payments-9938.htm#:~:text=Turkey%20Bans%20Crypto%20Payments%20%28UPDATED%29%20Turkey%E2%80%99s%20central%20bank,at%2007%3A41%20UTC%3A%20updates%20throughout%20the%20entire%20text.

Mar 18th

Thai central bank sets a precedent by banning Baht pegged Stablecoin

https://cryptonews.com/news/thai-central-bank-sets-a-precedent-by-banning-baht-pegged-st-9584.htm

Feb 12th

Nigerian senators blast central bank for its crypto ban

https://cryptonews.com/news/nigerian-senators-blast-central-bank-for-its-crypto-ban-9210.htm

Jan 6th

UK’s crypto derivatives ban starts

https://www.financemagnates.com/cryptocurrency/regulation/uks-crypto-derivatives-ban-starts-today/

What do you think?

Should cryptocurrencies be...?

  1. Banned

  2. Regulated

  3. Physically asset backed

  4. Unregulated as currently

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