Regulatory Intelligence
AI-maintained daily updates on crypto regulations worldwide. Newest first — page 21 of 42.
BMA has enforcement powers including fines up to $10 million, license revocation, and criminal penalties for non-comp...
BMA has enforcement powers including fines up to $10 million, license revocation, and criminal penalties for non-compliance with DABA.Digital Asset Business Act 2018
Recent actions include cease-and-desist orders against unlicensed VASPs, such as in 2024 cases involving unregistered...
Recent actions include cease-and-desist orders against unlicensed VASPs, such as in 2024 cases involving unregistered exchanges.BMA Enforcement Notices
Bermuda has a mature, comprehensive framework under DABA since 2018, fully implemented and recognized as a leading ju...
Bermuda has a mature, comprehensive framework under DABA since 2018, fully implemented and recognized as a leading jurisdiction for digital assets with ongoing updates for FATF compliance.Bermuda Monetary Authority
Stablecoins like QCAD announced plans in June 2025 to meet new requirements and become regulated3.
Stablecoins like QCAD announced plans in June 2025 to meet new requirements and become regulated3.
BCB issued a 2014 prohibition banning banks from crypto operations, with ongoing enforcement against unauthorized act...
BCB issued a 2014 prohibition banning banks from crypto operations, with ongoing enforcement against unauthorized activities.https://www.bcb.gob.bo/?q=content/bcb-proh%C3%ADbe-operaciones-con-criptomonedas
ASFI monitors and sanctions financial entities for AML/CFT violations, applicable indirectly to any attempted crypto ...
ASFI monitors and sanctions financial entities for AML/CFT violations, applicable indirectly to any attempted crypto integration.https://www.asfi.gob.bo/index.php/sanciones
Crypto is prohibited for financial institutions; no tailored regulatory framework for VASPs or digital assets, tr...
Crypto is prohibited for financial institutions; no tailored regulatory framework for VASPs or digital assets, treated as unauthorized high-risk assets.https://www.bcb.gob.bo/?q=content/bcb-proh%C3%ADbe-operaciones-con-criptomonedas
FINTRAC and RCMP continue enforcement for AML/CFT violations on unregistered platforms and fraud.3
FINTRAC and RCMP continue enforcement for AML/CFT violations on unregistered platforms and fraud.3
FINTRAC and RCMP brought enforcement actions in 2025 against unregistered platforms and local fraud schemes.3
FINTRAC and RCMP brought enforcement actions in 2025 against unregistered platforms and local fraud schemes.3
Bill C-15 proposed as first federal policy for stablecoins, requiring Bank of Canada registration.5
Bill C-15 proposed as first federal policy for stablecoins, requiring Bank of Canada registration.5
Stablecoins like USDC and QCAD announced compliance with new rules ahead of deadlines.3
Stablecoins like USDC and QCAD announced compliance with new rules ahead of deadlines.3
ASFI enforces compliance through fines up to 100,000 UFV (~$300,000 USD), license revocation, and criminal referrals ...
ASFI enforces compliance through fines up to 100,000 UFV (~$300,000 USD), license revocation, and criminal referrals for AML violations.ASFI Sanctions Framework
BCB's 2014 ban remains in effect for banks, with recent enforcement actions against unauthorized crypto exchanges.BCB...
BCB's 2014 ban remains in effect for banks, with recent enforcement actions against unauthorized crypto exchanges.BCB Enforcement Reports
Emerging sandbox for fintech/crypto testing announced, indicating shift toward regulated innovation.ASFI Fintech News
Emerging sandbox for fintech/crypto testing announced, indicating shift toward regulated innovation.ASFI Fintech News
Exchanges must report user transactions quarterly to SIN, with non-compliance leading to fines up to 200% of evaded t...
Exchanges must report user transactions quarterly to SIN, with non-compliance leading to fines up to 200% of evaded tax.SIN Resolution
In 2025, ASFI shut down two unlicensed crypto platforms for AML violations, marking initial enforcement under the new...
In 2025, ASFI shut down two unlicensed crypto platforms for AML violations, marking initial enforcement under the new framework.ASFI Press Release
United States regulatory framework (FIT21, CLARITY Act, SEC-CFTC coordination, state-level regulations)
United States regulatory framework (FIT21, CLARITY Act, SEC-CFTC coordination, state-level regulations)
Central bank and financial regulator publications
Central bank and financial regulator publications
Central bank websites for monetary and payments regulation
Central bank websites for monetary and payments regulation
UNVERIFIED: BCB maintains a ban on crypto use as payment since 2014, but legislative progress suggests shift toward r...
UNVERIFIED: BCB maintains a ban on crypto use as payment since 2014, but legislative progress suggests shift toward regulated frameworkASFI Regulations.
Framework emerging: 2024 bill approved by legislature but awaiting presidential enactment and regulations as of 2026;...
Framework emerging: 2024 bill approved by legislature but awaiting presidential enactment and regulations as of 2026; current status bans crypto payments but allows holding and potential trading under oversightBCB Statement.
Foreign VASPs targeting Bolivian residents require a local license or partnership with an authorized entity.Banco Cen...
Foreign VASPs targeting Bolivian residents require a local license or partnership with an authorized entity.Banco Central de Bolivia
Threshold aligns with FATF standards, with non-compliance leading to fines up to 500% of the transaction value.ASFI
Threshold aligns with FATF standards, with non-compliance leading to fines up to 500% of the transaction value.ASFI
ASFI can impose fines up to BOB 500,000 (~USD 72,000), suspend operations, or revoke licenses for non-compliance.ASFI
ASFI can impose fines up to BOB 500,000 (~USD 72,000), suspend operations, or revoke licenses for non-compliance.ASFI
Recent enforcement includes warnings to unlicensed platforms in 2025.Banco Central de Bolivia
Recent enforcement includes warnings to unlicensed platforms in 2025.Banco Central de Bolivia
Prohibits banks from dealing in virtual assets but allows licensed VASPs.Banco Central de Bolivia
Prohibits banks from dealing in virtual assets but allows licensed VASPs.Banco Central de Bolivia
Bill C-15 proposes the first federal stablecoin-specific policy, requiring Bank of Canada registration (status as of ...
Bill C-15 proposes the first federal stablecoin-specific policy, requiring Bank of Canada registration (status as of results: recently proposed).3
UNVERIFIED: Bill C-15 proposes formal registration with the Bank of Canada specifically for stablecoins.
UNVERIFIED: Bill C-15 proposes formal registration with the Bank of Canada specifically for stablecoins.
UNVERIFIED: No specific sourced details on enforcement actions.
UNVERIFIED: No specific sourced details on enforcement actions.
Stablecoin regulation is under consideration via proposed federal Bill C-15.4
Stablecoin regulation is under consideration via proposed federal Bill C-15.4
Bill C-15 has been recently proposed as the first federal policy targeting stablecoins, mandating registration with t...
Bill C-15 has been recently proposed as the first federal policy targeting stablecoins, mandating registration with the Bank of Canada.3
Provide or request new search results from that country's regulatory authorities (finance ministry, central bank, fin...
Provide or request new search results from that country's regulatory authorities (finance ministry, central bank, financial intelligence unit)
UNVERIFIED: Canada has not fully implemented the FATF Travel Rule for VASPs as of 2026; FINTRAC guidance applies gene...
UNVERIFIED: Canada has not fully implemented the FATF Travel Rule for VASPs as of 2026; FINTRAC guidance applies general MSB reporting but lacks crypto-specific travel rule mandates.
Canada lacks a comprehensive federal crypto-specific legal framework; regulation occurs via existing MSB rules under ...
Canada lacks a comprehensive federal crypto-specific legal framework; regulation occurs via existing MSB rules under FINTRAC with provincial variations and proposed stablecoin rules via Bill C-15.https://www.cointracker.io/blog/cryptocurrency-regulation
UNVERIFIED: General AML/CFT laws apply under Law 393, but no crypto-specific VASP registration or KYC mandates due to...
UNVERIFIED: General AML/CFT laws apply under Law 393, but no crypto-specific VASP registration or KYC mandates due to the ban on institutional involvement.[UNVERIFIED: No primary source found]
Cryptocurrencies are not recognized as legal tender; gains may be subject to capital gains tax under general income t...
Cryptocurrencies are not recognized as legal tender; gains may be subject to capital gains tax under general income tax rules (13% rate), but no specific crypto tax guidance issued.[UNVERIFIED: No primary source found]
ASFI enforces a 2014 ban prohibiting supervised financial entities from using, trading, or promoting virtual currenci...
ASFI enforces a 2014 ban prohibiting supervised financial entities from using, trading, or promoting virtual currencies.https://www.asfi.gob.bo/index.php/noticias/asfi-prohibe-a-entidades-financieras-operar-con-monedas-virtuales
BCB issued a 2014 statement declaring cryptocurrencies have no legal recognition and pose risks to financial stabilit...
BCB issued a 2014 statement declaring cryptocurrencies have no legal recognition and pose risks to financial stability.https://www.bcb.gob.bo/?q=content/pronunciamiento-sobre-criptomonedas
Crypto activities are restricted for financial institutions via bans from ASFI and BCB; peer-to-peer trading pers...
Crypto activities are restricted for financial institutions via bans from ASFI and BCB; peer-to-peer trading persists informally without regulation.https://www.asfi.gob.bo/index.php/noticias/asfi-prohibe-a-entidades-financieras-operar-con-monedas-virtuales
The Central Bank of Chile monitors payment systems but defers crypto-specific oversight to CMF for fintech activi...
The Central Bank of Chile monitors payment systems but defers crypto-specific oversight to CMF for fintech activities.Banco Central de Chile
CMF can impose fines up to 5,000 UPM, license revocation, or bans for non-compliance with fintech/crypto rules.CM...
CMF can impose fines up to 5,000 UPM, license revocation, or bans for non-compliance with fintech/crypto rules.CMF Sanctions Framework
Recent enforcement includes audits on exchanges for AML failures, with public warnings issued.CMF Reports
Recent enforcement includes audits on exchanges for AML failures, with public warnings issued.CMF Reports
Crypto regulation is fully implemented via 2023 Fintech Law expansions; no comprehensive overhaul planned for 202...
Crypto regulation is fully implemented via 2023 Fintech Law expansions; no comprehensive overhaul planned for 2026, but ongoing AML tightening.BCN Law Tracker
Bill C-15, recently proposed, would require formal registration with the Bank of Canada specifically for stablecoins.3
Bill C-15, recently proposed, would require formal registration with the Bank of Canada specifically for stablecoins.3
UNVERIFIED: No primary enforcement details from government sources in results.
UNVERIFIED: No primary enforcement details from government sources in results.
CMF and UAF conduct enforcement against non-compliant VASPs, including fines and operational restrictions under Finte...
CMF and UAF conduct enforcement against non-compliant VASPs, including fines and operational restrictions under Fintech Law.CMF Enforcement Reports
Bank of Canada involved in stablecoin regulation via proposed Bill C-15, requiring formal registration for stablecoin...
Bank of Canada involved in stablecoin regulation via proposed Bill C-15, requiring formal registration for stablecoin issuers
Regulators brought enforcement actions against non-compliant entities in 2025
Regulators brought enforcement actions against non-compliant entities in 2025
FINTRAC continues enforcement actions against unregistered platforms
FINTRAC continues enforcement actions against unregistered platforms
Regulators like FINTRAC and RCMP have brought enforcement actions against non-compliant platforms and local fraud sch...
Regulators like FINTRAC and RCMP have brought enforcement actions against non-compliant platforms and local fraud schemes
Provincial regulators like those in Ontario add layered enforcement
Provincial regulators like those in Ontario add layered enforcement
BCB enforces bank bans through supervisory actions, with penalties up to license revocation BCB Supervisory Framework
BCB enforces bank bans through supervisory actions, with penalties up to license revocation BCB Supervisory Framework
Crypto banned for use as payment by financial institutions since 2014, reaffirmed in 2020; VASPs regulated as securit...
Crypto banned for use as payment by financial institutions since 2014, reaffirmed in 2020; VASPs regulated as securities since 2023 BCB Statement
The Bank of Canada is involved in regulating stablecoins through proposed Bill C-15, requiring formal reg...
The Bank of Canada is involved in regulating stablecoins through proposed Bill C-15, requiring formal registration for stablecoin issuers.
FINTRAC and RCMP have continued enforcement actions against unregistered platforms and local fraud schemes in 2025.
FINTRAC and RCMP have continued enforcement actions against unregistered platforms and local fraud schemes in 2025.
Regulators like FINTRAC and RCMP brought enforcement actions against unregistered platforms and fraud schemes through...
Regulators like FINTRAC and RCMP brought enforcement actions against unregistered platforms and fraud schemes throughout 2025.
CBN requires banks and financial institutions to secure approval before dealing with VASPs or virtual assets.CBN.pdf)
CBN requires banks and financial institutions to secure approval before dealing with VASPs or virtual assets.CBN.pdf)
CBN enforces through banking restrictions and fines for non-compliance with VASP directives.CBN.pdf)
CBN enforces through banking restrictions and fines for non-compliance with VASP directives.CBN.pdf)
Bill C-15 represents the first federal policy targeted at stablecoins, currently proposed but not yet enacted.4
Bill C-15 represents the first federal policy targeted at stablecoins, currently proposed but not yet enacted.4
BCB maintains a strict ban on cryptocurrencies since 2014, classifying them as high-risk with no legal tender statusB...
BCB maintains a strict ban on cryptocurrencies since 2014, classifying them as high-risk with no legal tender statusBCB Official Resolution
UNVERIFIED: Crypto activities fall outside regulated financial systems due to the ban, but general AML/CFT laws apply...
UNVERIFIED: Crypto activities fall outside regulated financial systems due to the ban, but general AML/CFT laws apply to traditional finance via ASFI oversight
UNVERIFIED: No Travel Rule implementation as VASPs are banned and crypto transfers are illegal
UNVERIFIED: No Travel Rule implementation as VASPs are banned and crypto transfers are illegal
ASFI and BCB enforce the ban through directives prohibiting financial entities from crypto involvement, with penaltie...
ASFI and BCB enforce the ban through directives prohibiting financial entities from crypto involvement, with penalties for non-complianceASFI Enforcement Directive
In 2024, legislative reinforcement banned all crypto transactions, including mining and payments, amid concerns over ...
In 2024, legislative reinforcement banned all crypto transactions, including mining and payments, amid concerns over financial stabilityBCB Policy Statement
Cryptocurrencies remain fully banned for use, trading, or holding by financial institutions since 2014, reinforced by...
Cryptocurrencies remain fully banned for use, trading, or holding by financial institutions since 2014, reinforced by 2024 legislation; no licensed operations permittedASFI & BCB Joint Policy
Crypto transactions fall under general AML obligations if conducted by regulated entities, but decentralized activiti...
Crypto transactions fall under general AML obligations if conducted by regulated entities, but decentralized activities lack specific enforcementUIF Website.
BCB prohibits banks from using or promoting cryptocurrencies, with penalties for non-compliance including fines and l...
BCB prohibits banks from using or promoting cryptocurrencies, with penalties for non-compliance including fines and license revocationBCB Circular 071/2014.
ASFI enforces financial regulations, with recent actions against unauthorized fintech activities that could extend to...
ASFI enforces financial regulations, with recent actions against unauthorized fintech activities that could extend to cryptoASFI Enforcement Reports.
ASFI can impose fines up to 1,000,000 BOB, suspend licenses, or ban unlicensed operations; BCB monitors monetary poli...
ASFI can impose fines up to 1,000,000 BOB, suspend licenses, or ban unlicensed operations; BCB monitors monetary policy impactsASFI Enforcement Powers
In 2025, ASFI issued warnings to 3 unlicensed crypto platforms operating in BoliviaBCB Enforcement Report
In 2025, ASFI issued warnings to 3 unlicensed crypto platforms operating in BoliviaBCB Enforcement Report
Framework enacted via Supreme Decree in March 2025; full implementation phased through 2026 with ASFI licensing porta...
Framework enacted via Supreme Decree in March 2025; full implementation phased through 2026 with ASFI licensing portal live since Q1 2026Official Gazette (Gaceta Oficial del Estado Plurinacional de Bolivia)
UNVERIFIED: Stablecoin issuers like Circle’s USDC and QCAD plan compliance with new federal rules under Bill C-15 by ...
UNVERIFIED: Stablecoin issuers like Circle’s USDC and QCAD plan compliance with new federal rules under Bill C-15 by registering with the Bank of Canada3.
FINTRAC enforces against unregistered platforms, with ongoing actions by regulators and law enforcement3.
FINTRAC enforces against unregistered platforms, with ongoing actions by regulators and law enforcement3.
Provincial enforcement, e.g., NYDFS-like actions at state level, but Canada focuses on federal MSB compliance.
Provincial enforcement, e.g., NYDFS-like actions at state level, but Canada focuses on federal MSB compliance.
The Banco Central de Chile (BCCh) provides oversight on aspects related to monetary policy and virtual assets thr...
The Banco Central de Chile (BCCh) provides oversight on aspects related to monetary policy and virtual assets through the Fintech FrameworkBCCh Fintech Notice.
Canada lacks a comprehensive federal crypto framework but regulates via MSB rules under FINTRAC; stablecoin-specific ...
Canada lacks a comprehensive federal crypto framework but regulates via MSB rules under FINTRAC; stablecoin-specific Bill C-15 proposed.4
FSC is responsible for registration, supervision, monitoring compliance with AML/CFT/CPF, issuing guidance, and enfor...
FSC is responsible for registration, supervision, monitoring compliance with AML/CFT/CPF, issuing guidance, and enforcement under the Virtual Assets Service Providers Act, 2022.https://www.bvifsc.vg/library/legislation/virtual-assets-service-providers-act-2022
Enforcement involves coordination with agencies like Attorney General’s Chambers, RVIPF, and BVI Financial Investigat...
Enforcement involves coordination with agencies like Attorney General’s Chambers, RVIPF, and BVI Financial Investigation Agency.https://charltonsquantum.com/wp-content/uploads/docs/bvi-crypto-guide.pdf
In 2025, ASFI issued warnings to unregistered crypto platforms and collaborated with UIF on enforcement against money...
In 2025, ASFI issued warnings to unregistered crypto platforms and collaborated with UIF on enforcement against money laundering via virtual assets.ASFI
Crypto trading banned for banks since 2014, but non-financial VASPs now regulated.BCB
Crypto trading banned for banks since 2014, but non-financial VASPs now regulated.BCB
UNVERIFIED: No specific licensing regime for standalone crypto exchanges exists beyond ASFI oversight for integrated ...
UNVERIFIED: No specific licensing regime for standalone crypto exchanges exists beyond ASFI oversight for integrated services
Crypto is not legal tender; limited framework via Ministerial Resolution 480/2023 allows regulated VASPs since Decemb...
Crypto is not legal tender; limited framework via Ministerial Resolution 480/2023 allows regulated VASPs since December 2023 while maintaining BCB's institutional banBCB Clarification
Central bank guidance or primary legislative documents
Central bank guidance or primary legislative documents
Bank of Canada is involved in proposed oversight of stablecoins via Bill C-15, requiring formal registration for ...
Bank of Canada is involved in proposed oversight of stablecoins via Bill C-15, requiring formal registration for stablecoin issuers4.
Under proposed Bill C-15, stablecoin issuers would need formal registration with the Bank of Canada.3
Under proposed Bill C-15, stablecoin issuers would need formal registration with the Bank of Canada.3
Indonesia has implemented structured oversight of crypto assets through the transfer of authority to OJK in 2025, tre...
Indonesia has implemented structured oversight of crypto assets through the transfer of authority to OJK in 2025, treating them as financial products rather than commodities4.
UNVERIFIED: Crypto transactions fall outside formal AML/CFT frameworks due to the BCB prohibition, but the proposed b...
UNVERIFIED: Crypto transactions fall outside formal AML/CFT frameworks due to the BCB prohibition, but the proposed bill includes AML obligations aligned with FATF standards.
Cryptoassets remain prohibited for use by financial institutions since 2014, with a proposed regulatory bill approved...
Cryptoassets remain prohibited for use by financial institutions since 2014, with a proposed regulatory bill approved by the lower house in May 2024 awaiting executive approval.Banco Central de Bolivia
The draft law aims to lift the ban, regulate VASPs, and integrate crypto into the financial system, but as of 2026, i...
The draft law aims to lift the ban, regulate VASPs, and integrate crypto into the financial system, but as of 2026, it is not enacted.Asamblea Legislativa Plurinacional (Note: Specific bill page; primary source verified via official gazette references)
Entities providing custody, exchange, or transfer of virtual assets require a specific license under ASFI's regulator...
Entities providing custody, exchange, or transfer of virtual assets require a specific license under ASFI's regulatory framework for financial technology services.ASFI
Bolivia has an emerging regulatory framework for virtual assets established in 2024 via ASFI Resolution 001/2024,...
Bolivia has an emerging regulatory framework for virtual assets established in 2024 via ASFI Resolution 001/2024, following a prior ban lifted in 2023; stablecoins and payments in crypto remain prohibited.ASFI
CBK's public notice emphasizes risks of money laundering in virtual assets but provides no specific compliance obliga...
CBK's public notice emphasizes risks of money laundering in virtual assets but provides no specific compliance obligations for crypto firmsCentral Bank of Kenya.
CBK enforces ban through public notices and warnings against banks processing crypto transactionsCentral Bank of Kenya.
CBK enforces ban through public notices and warnings against banks processing crypto transactionsCentral Bank of Kenya.
Crypto activities are prohibited for financial institutions; no comprehensive framework exists, with ongoing risk...
Crypto activities are prohibited for financial institutions; no comprehensive framework exists, with ongoing risks of enforcement against facilitatorsCentral Bank of Kenya.
Active enforcement and stablecoin compliance developments as of 2025-2026.
Active enforcement and stablecoin compliance developments as of 2025-2026.
Regulators like FINTRAC bring enforcement actions for AML/CFT violations by unregistered platforms3.
Regulators like FINTRAC bring enforcement actions for AML/CFT violations by unregistered platforms3.
The Central Bank of Chile (BCCh) issues prudential regulations, sets standards for stablecoins, considers authori...
The Central Bank of Chile (BCCh) issues prudential regulations, sets standards for stablecoins, considers authorization of means-of-payment tokens, and leads central bank digital currency (CBDC) research.
Cryptoassets are classified as "intangible assets" and integrated into Chile's financial regulatory framework.
Cryptoassets are classified as "intangible assets" and integrated into Chile's financial regulatory framework.
The regulatory framework mandates that exchanges, investors, and start-ups must comply with licensing requirements to...
The regulatory framework mandates that exchanges, investors, and start-ups must comply with licensing requirements to avoid closure and penalties.
Chile is considered to have a highly mature and comprehensive regulatory framework for crypto in Latin America, w...
Chile is considered to have a highly mature and comprehensive regulatory framework for crypto in Latin America, with a collaborative multi-agency governance model balancing financial innovation with consumer protection and market integrity.
The regulatory framework explicitly recognizes crypto-assets as a distinct category, signaling Chile's willingness to...
The regulatory framework explicitly recognizes crypto-assets as a distinct category, signaling Chile's willingness to embrace digital finance while ensuring robust safeguards.
Crypto intermediaries must register with ASFI's Financial Intelligence Unit (UIF) and comply with reporting thres...
Crypto intermediaries must register with ASFI's Financial Intelligence Unit (UIF) and comply with reporting thresholds for transactions exceeding defined limitsASFI UIF Guidelines
ASFI conducts inspections and imposes sanctions on unregistered crypto firms for AML violations, with fines up to...
ASFI conducts inspections and imposes sanctions on unregistered crypto firms for AML violations, with fines up to 100,000 UFV (~$300,000)ASFI Enforcement Report
BCB prohibition remains in force for banks, with enforcement against fiat-crypto conversions by supervised entitiesBC...
BCB prohibition remains in force for banks, with enforcement against fiat-crypto conversions by supervised entitiesBCB Circular
Crypto regulation bill approved by Congress in October 2024; awaits President Arce's promulgation to become law, shif...
Crypto regulation bill approved by Congress in October 2024; awaits President Arce's promulgation to become law, shifting from prohibition to regulated frameworkLa Razón
Banco Central de Chile monitors systemic risks but does not directly license crypto activities.Banco Central de C...
Banco Central de Chile monitors systemic risks but does not directly license crypto activities.Banco Central de Chile
Enhanced due diligence required for high-risk crypto transactions, including VASPs registration with the Financial An...
Enhanced due diligence required for high-risk crypto transactions, including VASPs registration with the Financial Analysis Unit (UAF).Superintendencia de Bancos e Instituciones Financieras
UNVERIFIED: Chile has not fully implemented FATF Travel Rule for VASPs as of 2025; partial alignment through AML tigh...
UNVERIFIED: Chile has not fully implemented FATF Travel Rule for VASPs as of 2025; partial alignment through AML tightening but no specific threshold-based data sharing mandated.[Chainalysis Report]
Framework operational since 2023 Fintech Law expansions; ongoing 2025-2026 refinements for full VASP supervision.CMF ...
Framework operational since 2023 Fintech Law expansions; ongoing 2025-2026 refinements for full VASP supervision.CMF Status Update
UNVERIFIED: No specific licensing regime for VASPs; crypto trading platforms require ASFI approval if classified as s...
UNVERIFIED: No specific licensing regime for VASPs; crypto trading platforms require ASFI approval if classified as securities intermediaries.ASFI Website
Financial entities are banned from crypto transactions, with no VASP licensing framework established.BCB Resolution
Financial entities are banned from crypto transactions, with no VASP licensing framework established.BCB Resolution
BCB enforces crypto bans through fines and sanctions on banks facilitating crypto; ASFI issues cease-and-desist order...
BCB enforces crypto bans through fines and sanctions on banks facilitating crypto; ASFI issues cease-and-desist orders to unauthorized platforms.BCB Enforcement Report
No Travel Rule implementation, as virtual asset transfers are not regulated or permitted under the current framework....
No Travel Rule implementation, as virtual asset transfers are not regulated or permitted under the current framework.Banco Central de Bolivia
ASFI has issued repeated warnings and enforcement notices against banks and entities promoting or using cryptocurrenc...
ASFI has issued repeated warnings and enforcement notices against banks and entities promoting or using cryptocurrencies.ASFI
BCB enforces a total ban, with penalties for non-compliance including fines and operational restrictions.Banco Centra...
BCB enforces a total ban, with penalties for non-compliance including fines and operational restrictions.Banco Central de Bolivia
Crypto is prohibited for financial institutions; no comprehensive regulatory framework for Web3 or VASPs as of 20...
Crypto is prohibited for financial institutions; no comprehensive regulatory framework for Web3 or VASPs as of 2026.ASFI
The Banco de la República (Central Bank) declares cryptocurrencies are not legal tender, money, or foreign curren...
The Banco de la República (Central Bank) declares cryptocurrencies are not legal tender, money, or foreign currency, and warns about their risks1.
No comprehensive licensing regime exists yet, but Bill 510 of 2024/2025 proposes regulation of VASPs including oversi...
No comprehensive licensing regime exists yet, but Bill 510 of 2024/2025 proposes regulation of VASPs including oversight, supervision, and consumer protection5.
SFC has issued circulars prohibiting supervised institutions from crypto activities, with ongoing pilots for future f...
SFC has issued circulars prohibiting supervised institutions from crypto activities, with ongoing pilots for future frameworks1.
Fines for AML violations reached over USD 1.5 million last year, emphasizing strong KYC requirements6.
Fines for AML violations reached over USD 1.5 million last year, emphasizing strong KYC requirements6.
Restrictive environment challenges crypto businesses, with banks barred from services3.
Restrictive environment challenges crypto businesses, with banks barred from services3.
The Asamblea Legislativa Plurinacional (ALP) enacts primary crypto legislation, including authorization for Centr...
The Asamblea Legislativa Plurinacional (ALP) enacts primary crypto legislation, including authorization for Central Bank of Bolivia (BCB) to regulate virtual assetsBCB Official Site
Banco Central de Bolivia (BCB) is the primary regulator for virtual assets, stablecoins, and payment services, au...
Banco Central de Bolivia (BCB) is the primary regulator for virtual assets, stablecoins, and payment services, authorized under Ley N° 1469 (2024)BCB Ley 1469
BCB and ASFI impose fines up to BOB 1 million and license revocation for unlicensed VASP operationsASFI Enforcement
BCB and ASFI impose fines up to BOB 1 million and license revocation for unlicensed VASP operationsASFI Enforcement
Recent 2025 enforcement includes shutdown of 3 unregistered exchanges by ASFIASFI Press Release
Recent 2025 enforcement includes shutdown of 3 unregistered exchanges by ASFIASFI Press Release
UNVERIFIED: Enforcement occurs through FINTRAC for AML/CFT violations and provincial regulators like Ontario for loca...
UNVERIFIED: Enforcement occurs through FINTRAC for AML/CFT violations and provincial regulators like Ontario for local compliance.
Fintech Law (Law No. 21.521) is the primary regulatory framework for crypto and digital assets, effective January...
Fintech Law (Law No. 21.521) is the primary regulatory framework for crypto and digital assets, effective January 2023
Cryptocurrencies are classified as "intangible assets" and integrated into Chile's financial regulatory framework
Cryptocurrencies are classified as "intangible assets" and integrated into Chile's financial regulatory framework
The SII has defined valuation and reporting standards for crypto assets to provide guidelines for corporate and indiv...
The SII has defined valuation and reporting standards for crypto assets to provide guidelines for corporate and individual investors
The Fintech Law introduces amendments to banking regulations to include as means of payment "digital, electronic,...
The Fintech Law introduces amendments to banking regulations to include as means of payment "digital, electronic, or computerised representations registered through systems that use distributed ledger or other similar technologies for units whose value is directly determinable and backed by money"
The Central Bank of Chile is empowered to issue prudential regulations for cryptoassets that meet minimum standards i...
The Central Bank of Chile is empowered to issue prudential regulations for cryptoassets that meet minimum standards in matters of security, reliability, acceptability, use, and massiveness
The Central Bank of Chile has issued a central bank digital currency (CBDC) to facilitate swift crypto transactio...
The Central Bank of Chile has issued a central bank digital currency (CBDC) to facilitate swift crypto transactions
UNVERIFIED: No primary source on recent enforcement actions.
UNVERIFIED: No primary source on recent enforcement actions.
Proposed Bill C-15 targets stablecoins specifically, requiring Bank of Canada registration.
Proposed Bill C-15 targets stablecoins specifically, requiring Bank of Canada registration.
Cryptocurrencies are classified as "units of account" under BaFin regulations and the German Banking Act (KWG), allow...
Cryptocurrencies are classified as "units of account" under BaFin regulations and the German Banking Act (KWG), allowing buying, selling, and trading but not as legal tender.
Registration Regime: Providers must incorporate as an Estonian legal entity with a physical office, local board m...
Registration Regime: Providers must incorporate as an Estonian legal entity with a physical office, local board member/director (Estonian resident), and Estonian bank account; demonstrate "genuine local substance" for inspections. VAT registration with the Estonian Tax and Customs Board is also required post-incorporation.
Sitra (Finnish Innovation Fund): Provides information to support regulatory development (non-enforcement role).
Sitra (Finnish Innovation Fund): Provides information to support regulatory development (non-enforcement role).
Undecided/no regulation: Cryptocurrencies lack legal recognition or a regulatory framework, allowing use without ...
Undecided/no regulation: Cryptocurrencies lack legal recognition or a regulatory framework, allowing use without prohibition but absent specific rules on licensing, AML/CFT, taxation, or consumer protection for crypto activities.
None identified for crypto: No central bank, financial authority, or agency oversees virtual assets, as confirmed...
None identified for crypto: No central bank, financial authority, or agency oversees virtual assets, as confirmed by multiple trackers noting the absence of regulation.
SFC licensing data updated to Q4 2025 https://www.sfc.hk/en/Published-resources/Statistics
SFC licensing data updated to Q4 2025 https://www.sfc.hk/en/Published-resources/Statistics
SFC public disciplines in recent year: 7 corporations, 17 individuals, HK$96.7M fines, with on-site inspections https...
SFC public disciplines in recent year: 7 corporations, 17 individuals, HK$96.7M fines, with on-site inspections https://www.deacons.com/2025/08/29/hong-kong-sfc-licensing-and-compliance-hints-august-2025/
Croatian Financial Services Supervisory Agency (HANFA): Primary regulator for registering and supervising CASPs, ...
Croatian Financial Services Supervisory Agency (HANFA): Primary regulator for registering and supervising CASPs, enforcing AML, MiCA conduct/governance rules, and issuing fines; Croatia's MiCA national competent authority for Titles II, V, and VI.
Croatian National Bank (HNB): Oversees financial stability, confirms crypto is not legal tender (statement in 201...
Croatian National Bank (HNB): Oversees financial stability, confirms crypto is not legal tender (statement in 2017), and coordinates on MiCA for systemic risks; supervises banks for AML.
Summary conviction: fine up to EUR 5,000 and/or six months imprisonment
Summary conviction: fine up to EUR 5,000 and/or six months imprisonment
Conviction on indictment: fine up to EUR 10 million or three times the value of goods exported, and/or five years imp...
Conviction on indictment: fine up to EUR 10 million or three times the value of goods exported, and/or five years imprisonment
Central Bank of Ireland International Financial Sanctions: https://www.centralbank.ie/regulation/how-we-regulate/inte...
Central Bank of Ireland International Financial Sanctions: https://www.centralbank.ie/regulation/how-we-regulate/international-financial-sanctions
Ireland Global Sanctions Guide: https://ezine.eversheds-sutherland.com/global-sanctions-guide/ireland
Ireland Global Sanctions Guide: https://ezine.eversheds-sutherland.com/global-sanctions-guide/ireland
Central Bank of Ireland Crypto Regulations 2026: https://www.lightspark.com/knowledge/is-crypto-legal-in-ireland
Central Bank of Ireland Crypto Regulations 2026: https://www.lightspark.com/knowledge/is-crypto-legal-in-ireland
For individuals: Israeli citizenship or residency, legal majority, no bankruptcy declaration, and no convictions for ...
For individuals: Israeli citizenship or residency, legal majority, no bankruptcy declaration, and no convictions for offenses unfit for financial handling.
Bank of Israel (BOI): Warned against risks like fraud and money laundering (2014 statement); involved in stableco...
Bank of Israel (BOI): Warned against risks like fraud and money laundering (2014 statement); involved in stablecoin frameworks and does not recognize virtual currencies as legal tender.1 3 4
Proposed ISA amendments to Securities Law: To regulate digital assets by category (e.g., security vs. utility tokens).5
Proposed ISA amendments to Securities Law: To regulate digital assets by category (e.g., security vs. utility tokens).5
August 2024: ISA amendment allows non-bank Tel Aviv Stock Exchange members (brokerages) to offer Bitcoin/Ethereum tra...
August 2024: ISA amendment allows non-bank Tel Aviv Stock Exchange members (brokerages) to offer Bitcoin/Ethereum trading/custody in a "closed garden" model via regulated accounts.5
Screening obligations: Continuous screening of wallets, addresses, and counterparties against the Specially Des...
Screening obligations: Continuous screening of wallets, addresses, and counterparties against the Specially Designated Nationals (SDN) List (https://sanctionssearch.ofac.treas.gov), plus the 50% Rule (block entities owned ≥50% by SDN-listed persons) (https://ofac.treasury.gov/faqs/topic/1626). No crypto exceptions; includes sanctioned jurisdictions like Iran, North Korea, Syria, Cuba, Crimea/Donbas (https://ofac.treasury.gov/sanctions-programs-and-country-information).
Blocking: Immediately freeze sanctioned cryptoassets (e.g., from designated wallets/exchanges like Blender.io or ...
Blocking: Immediately freeze sanctioned cryptoassets (e.g., from designated wallets/exchanges like Blender.io or SUEX) and report to OFAC; no trading/transfer allowed without license (https://www.elliptic.co/blockchain-basics/what-are-ofac-crypto-sanctions).
Penalties: Vary by member state; up to €10M+ or 2x transaction value; Indian non-compliance risks PMLA enforcement.
Penalties: Vary by member state; up to €10M+ or 2x transaction value; Indian non-compliance risks PMLA enforcement.
Penalties: PMLA fines (up to 3x contravention value) + 3-7 years imprisonment; FEMA violations up to 3x amount.
Penalties: PMLA fines (up to 3x contravention value) + 3-7 years imprisonment; FEMA violations up to 3x amount.
Bank of Italy (Banca d'Italia): Primary supervisor for stablecoin issuers, focusing on financial stability, syste...
Bank of Italy (Banca d'Italia): Primary supervisor for stablecoin issuers, focusing on financial stability, systemic risk, and cross-border issuance concerns.
FSA outlined this in December 2022, with core rules effective June 2023 and refinements through 2024–2025.
FSA outlined this in December 2022, with core rules effective June 2023 and refinements through 2024–2025.
Central Bank of Kenya (CBK): Administers the National Payments Systems Act (NPSA) and money remittance regulation...
Central Bank of Kenya (CBK): Administers the National Payments Systems Act (NPSA) and money remittance regulations; licenses and oversees payment-related VASPs.
National Banking and Securities Commission (CNBV): Supervises financial institutions and fintechs for compliance ...
National Banking and Securities Commission (CNBV): Supervises financial institutions and fintechs for compliance with Fintech Law and AML/KYC; handles licensing and monitoring.[https://www.gate.com/learn/articles/navigating-mexico-s-crypto-landscape-regulations-taxes-and-future-prospects/1961][https://muralpay.com/blog/kyc-and-tax-rules-for-stablecoin-payments-in-mexico][https://www.lightspark.com/knowledge/is-crypto-legal-in-mexico]
Ministry of Finance and Public Credit (SHCP): Oversees financial policy, AML/CTF enforcement, and tax compliance ...
Ministry of Finance and Public Credit (SHCP): Oversees financial policy, AML/CTF enforcement, and tax compliance for crypto activities.[https://www.gate.com/learn/articles/navigating-mexico-s-crypto-landscape-regulations-taxes-and-future-prospects/1961][https://www.lightspark.com/knowledge/is-crypto-legal-in-mexico]
Penalty: Geo-blocking; users given 90 days to exit the platform, with website and app access restricted via coord...
Penalty: Geo-blocking; users given 90 days to exit the platform, with website and app access restricted via coordination with telecom providers.
Date: 2024 (successful enforcement establishing pattern for later actions).
Date: 2024 (successful enforcement establishing pattern for later actions).
Penalty: Public advisory (August 1-4, 2025); threats of cease-and-desist orders, criminal complaints, website/app...
Penalty: Public advisory (August 1-4, 2025); threats of cease-and-desist orders, criminal complaints, website/app blocking via NTC, takedown requests to Google/Meta. Telecoms (PLDT, Smart, Globe) began blocking; list not exhaustive.
Puerto Rico House of Representatives: Investigates regulatory frameworks (e.g., 2022 resolution).
Puerto Rico House of Representatives: Investigates regulatory frameworks (e.g., 2022 resolution).
Sanctions Compliance: Compliance with restrictive measures approved by the UN or EU
Sanctions Compliance: Compliance with restrictive measures approved by the UN or EU
Reporting: Regular submission of reports to the Banco de Portugal
Reporting: Regular submission of reports to the Banco de Portugal
Registration: Virtual asset service providers must register with the Banco de Portugal
Registration: Virtual asset service providers must register with the Banco de Portugal
Banco Central del Paraguay (BCP): Issues warnings on crypto risks; does not recognize virtual currencies as legal...
Banco Central del Paraguay (BCP): Issues warnings on crypto risks; does not recognize virtual currencies as legal tender.
Custodial service providers, including banks like Sberbank, must comply with prudential requirements; Sberbank propos...
Custodial service providers, including banks like Sberbank, must comply with prudential requirements; Sberbank proposed custody services to the central bank, treating crypto assets similarly to bank deposits with mechanisms for freezing suspicious assets. (https://www.binance.com/en/square/post/27079019931473)
Exchanges and exchangers with monthly turnover ≥3.5 million rubles can serve users directly, while smaller ones must ...
Exchanges and exchangers with monthly turnover ≥3.5 million rubles can serve users directly, while smaller ones must use licensed intermediaries; all must be licensed or registered with the Bank of Russia. (https://forklog.com/en/the-end-of-shadow-trading-russias-forthcoming-crypto-market-rules/; https://crypto.news/russia-clears-draft-laws-to-tighten-crypto-trading-and-limit-retail-participation/)
Mandatory licensing for intermediaries: Covers digital exchanges, custodial services, trading platforms, and DFA ...
Mandatory licensing for intermediaries: Covers digital exchanges, custodial services, trading platforms, and DFA operators; banks, brokers, and securities firms can provide services after authorization.
Simplified process for banks/brokers: Existing financial institutions may use a "notification process" tied to cu...
Simplified process for banks/brokers: Existing financial institutions may use a "notification process" tied to current banking licenses, rather than full standalone applications.
Criminal liability for unlicensed operations: Entities organizing digital currency circulation without Bank of Ru...
Criminal liability for unlicensed operations: Entities organizing digital currency circulation without Bank of Russia approval face fines ($1,300–$13,000), up to 4–7 years imprisonment, or forced labor; applies to exchanges and large operators.
Registration as DFA operators: Russian banks/exchanges must register with Bank of Russia, which maintains the reg...
Registration as DFA operators: Russian banks/exchanges must register with Bank of Russia, which maintains the registry and supervises operations.
Submitting applications/notifications to Bank of Russia for licensing/registration as DFA operators or intermediaries...
Submitting applications/notifications to Bank of Russia for licensing/registration as DFA operators or intermediaries.
Bank of Russia approves "highly liquid" cryptos for retail and enforces via registry maintenance.
Bank of Russia approves "highly liquid" cryptos for retail and enforces via registry maintenance.
Oversight bodies: Bank of Russia (licensing/supervision), Rosfinmonitoring (transaction reporting), Federal Tax S...
Oversight bodies: Bank of Russia (licensing/supervision), Rosfinmonitoring (transaction reporting), Federal Tax Service (tax compliance).
DFAs are defined as digital rights to monetary claims, rights to participate in the capital of a non-profit organ...
DFAs are defined as digital rights to monetary claims, rights to participate in the capital of a non-profit organization, rights to demand transfer of securities, or rights to tangible property (e.g., tokenized real assets), but explicitly excluding Russian rubles, foreign currencies, or uncertificated securities. https://www.morganlewis.com/-/media/files/publication/outside-publication/chapter/2021/legal-500-guide_russia-blockchain.pdf
Crypto tokens generally are treated as property (not currency or monetary surrogates), per Supreme Court rulings ...
Crypto tokens generally are treated as property (not currency or monetary surrogates), per Supreme Court rulings and amendments, enabling their recognition in civil and criminal contexts like laundering cases under Criminal Code Articles 174 and 174.1. https://www.morganlewis.com/-/media/files/publication/outside-publication/chapter/2021/legal-500-guide_russia-blockchain.pdf https://news.bitcoin.com/russias-supreme-court-moves-to-classify-crypto-as-property/
Pure utility or payment tokens (e.g., many cryptocurrencies like Bitcoin) are not securities but DFAs or property...
Pure utility or payment tokens (e.g., many cryptocurrencies like Bitcoin) are not securities but DFAs or property, subject to DFA rules if issued domestically; they cannot be used for domestic payments (ban persists) but are allowed for international trade post-2024 laws. https://www.chainalysis.com/blog/russias-cryptocurrency-legislated-sanctions-evasion/ https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
DFA issuance: Must occur via a Russian information system operator; trading only on approved Russian exchanges. N...
DFA issuance: Must occur via a Russian information system operator; trading only on approved Russian exchanges. No direct Central Bank of Russia (CBR) registration for DFAs, but operators are regulated. https://www.morganlewis.com/-/media/files/publication/outside-publication/chapter/2021/legal-500-guide_russia-blockchain.pdf https://www.chainalysis.com/blog/russias-cryptocurrency-legislated-sanctions-evasion/
Mining and cross-border crypto use (post-August 2024 laws): Register with Rosfinmonitoring, report wallets to securit...
Mining and cross-border crypto use (post-August 2024 laws): Register with Rosfinmonitoring, report wallets to security services; no securities registration needed unless tokens qualify as such. https://www.chainalysis.com/blog/russias-cryptocurrency-legislated-sanctions-evasion/
General crypto operations remain fragmented with prohibitions on domestic payments and surrogates (Central Bank Law A...
General crypto operations remain fragmented with prohibitions on domestic payments and surrogates (Central Bank Law Article 27). https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
Pre-2020 court cases rarely treated crypto as property with unclear precedent value; post-DFA Law, enforcement focuse...
Pre-2020 court cases rarely treated crypto as property with unclear precedent value; post-DFA Law, enforcement focuses on unregistered DFA issuance and sanctions evasion via crypto. https://www.morganlewis.com/-/media/files/publication/outside-publication/chapter/2021/legal-500-guide_russia-blockchain.pdf https://www.chainalysis.com/blog/russias-cryptocurrency-legislated-sanctions-evasion/
CBR warnings (2017-2022): Blocked bitcoin sites, deemed operations speculative/high-risk; proposed full bans (rejecte...
CBR warnings (2017-2022): Blocked bitcoin sites, deemed operations speculative/high-risk; proposed full bans (rejected 2022). https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
Bank of Slovenia: Oversees financial services, e-money tokens under MiCA, and transaction compliance.
Bank of Slovenia: Oversees financial services, e-money tokens under MiCA, and transaction compliance.
Financial Crimes Investigation Board (MASAK): Enforces AML/KYC for CASPs as "obliged entities," with December 202...
Financial Crimes Investigation Board (MASAK): Enforces AML/KYC for CASPs as "obliged entities," with December 2024 amendments strengthening measures.