Law

Thai SEC bans exchanges from handling certain token types including NFTs

Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases. In a Friday announcement from the Thai SEC, the regulatory body said that secretary-general Ruenvadee Suwanmongkol had approved crypto exchange guidelines, notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital …

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IMF plans to meet with El Salvador’s president, potentially discussing move to adopt Bitcoin

The International Monetary Fund has said El Salvador’s recent decision to make Bitcoin legal tender in the country may raise legal and financial concerns. In a Thursday press briefing from the International Monetary Fund, or IMF, spokesperson Gerry Rice said the group was already in discussions with lawmakers in El Salvador over a loan to …

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Mexico lawmakers aim to follow the example of neighboring countries with proposed Bitcoin legislation

Eduardo Murat Hinojosa, a senator of the federal government of Mexico, has said he will be submitting a proposal to lawmakers seemingly aimed at crypto adoption in the country. In a tweet today, Hinojosa changed his profile picture to feature the senator speaking into a microphone with the iconic “laser eyes,” indicating support for crypto. …

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Hybrid smart contracts will replace the legal system

The era of unintelligible contracts written in legalese by lawyers in $2,000 suits with degrees from Ivy League schools is over. The contracts of the next century will be hybrid smart contracts, written in code by programmers wearing $20 hoodies and living in their NYC-shared apartment. What is a hybrid smart contract? Smart contracts are …

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Crypto firms not meeting AML standards, says UK minister

Cryptocurrency businesses in the United Kingdom have been struggling to meet Anti-Money Laundering standards set by the Financial Conduct Authority, according to a senior official. John Glen, a member of U.K. parliament and the Economic Secretary to the Treasury, pointed out major difficulties in the process of registering crypto firms under the FCA’s AML regulations …

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Election Candidates in Russia to Disclose Crypto Investments, New Bill Suggests

<div class=”featured_image_container”> </div> <strong>A new bill obliging candidates running for election in Russia to declare their spending on digital</strong><strong> assets has hit the floor of the State Duma. According to the draft, Russian politicians will be required to disclose details about every crypto purchase they and their families make, if the total exceeds a certain …

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Nebraska bill to allow banks to offer crypto services moves forward

Nebraska lawmakers are moving forward with an initiative that would allow state banks to offer cryptocurrency services. State Senators favored the measure through the first of three required votes in the legislature, with 39 lawmakers voting to advance the bill for enrollment and initial review on Sunday. Introduced by Republican Mike Flood in January, Legislature …

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Indian start-up organization proposes regulatory framework for crypto

IndiaTech.org, an industry association representing India’s consumer internet startups and investors, is backing wants to provide clear definitions for the cryptocurrency industry. On Wednesday, the association released a white paper including a policy proposal with recommendations for a regulatory framework for crypto-assets and crypto exchanges in India. The proposed framework suggests to define cryptocurrencies like Bitcoin (BTC) as …

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Epic vs. Apple opening arguments suggest a bitter battle over iOS’ future

Enlarge / Artist’s conception of what Apple and Epic’s lawyers did to each other in the courtroom today. Epic Games In leading off the opening arguments in Epic’s long-anticipated bench trial against Apple, the Fortnite studio noted that it was “not suing for damages” or a “special deal.” Instead, Epic’s counsel said, it was “suing …

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New digital dispute rules aim to keep crypto disagreements out of court

A British government-sanctioned task force has proposed a dispute resolution framework that would keep cryptocurrency and smart contract disagreements out of the courts. A 14-page report published by LawTechUK’s “U.K. Jurisdiction Taskforce” puts forward new Digital Dispute Resolution Rules that aim to provide a standardized means of dealing with smart contract disputes. Under the remit …

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