AI-maintained daily updates on crypto regulations worldwide. Newest first — page 42 of 43.
Central Bank of Kuwait (CBK): Prohibits the banking sector and regulated companies from trading in cryptocurrencies, facilitating related transactions, and accepting crypto for e-payments. The CBK also leads public awareness campaigns warning consumers about crypto risks.
Kuwait's Insurance Regulatory Unit: Issued a circular contributing to the nationwide prohibition and ensures insurance sector entities comply.
Ministry of Electricity: Supports enforcement by monitoring electrical grids to identify illegal crypto mining operations.
Trading: Banned entirely for payments and investments.
National Bank of Kazakhstan (NBK): Primary regulator for crypto exchanges, digital platforms, and unsecured digital assets nationwide; approves lists of permitted cryptocurrencies, sets operational limits, AML rules, and investor protections; licenses and supervises operators.
New Banking Law (Law on Banks and Banking Activities): Approved by parliament and expected signed early 2026; integrates cryptocurrencies and digital financial assets (DFAs) into mainstream finance, defines DFAs (stablecoins, backed assets, electronic instruments), licenses exchanges and platforms under NBK, recognizes digital tenge CBDC.
Financial Crime Investigation Service (FCIS / FNTT): Handles AML/CFT enforcement, application reviews, and supervision alongside the Bank of Lithuania.
Bank Al-Maghrib (BAM): Central bank overseeing stablecoins, asset-backed tokens, and licensing for exchanges; limits stablecoin issuance to banks and payment institutions.
November 2017 Ban: Prohibited all crypto transactions.
Bill 42.25 (draft published by Ministry of Economy and Finance; announced November 2024, finalized July 2025): Core framework for regulation, emphasizing investor protection, market integrity, innovation, and monetary stability; no confirmed effective date as of available data, with full rollout anticipated in 2026.
A June 2021 law on electronic payment services, enabling non-bank providers for digital finance but not covering cryptocurrencies.
Bank of Mauritius (BoM): Issues digital banking licenses but does not directly regulate virtual assets.
Banco de México (Banxico): Central bank with primary authority to regulate virtual assets, authorize internal operations for financial institutions, and prohibit direct crypto services to the public.
National Banking and Securities Commission (CNBV): Supervises banks and fintechs for compliance with virtual asset rules and issues licenses.
Fintech Law (2018): Core framework introducing virtual assets, granting Banxico regulatory powers, and applying AML/CTF rules to crypto businesses.
Circular 4/2019 (Banxico): Limits financial entities to internal virtual asset operations with prior Banxico approval; bans offering exchange, custody, or transfer to customers.
Department of Economic Development and Commerce (DDEC): Created its own regulatory framework in February 2023, extending Act 60 tax exemptions to blockchain-related ventures
The OCIF has taken enforcement action against unregulated cryptocurrency operations; for example, it ordered Athena to cease cryptocurrency operations until obtaining proper licensing after unregulated Bitcoin ATMs (BATMs) were linked to irregular transactions
Other mentions include the Central Bank of Paraguay (BCP), which issues warnings but does not regulate virtual currencies directly, and Seprelad for anti-money laundering.
Riksbank (Central Bank): Oversees CBDC (e-krona pilot from 2020, potential 2027 rollout); no direct CASP role but influences stablecoins.
MAS Enforcement Report 2023/24 (published April 2025) details 163 cases, including 19 unlicensed activities and 16 AML/CFT breaches; priorities for 2025-26 include market misconduct.
If qualifying as regulated assets (e.g., securities), additional rules from ATVP or BS apply, including mutatis mutandis provisions from the Market in Financial Instruments Act, Banking Act, and Payment Services Act.
No outright ban; Slovenia views crypto as virtual currencies outside monetary assets, with taxation only on generated income (guidelines since 2017, potential 25% profit tax from 2026).
Central Bank of Trinidad and Tobago (CBTT): Monitors financial stability, issues risk warnings, researches CBDC feasibility (announced March 2021, no timeline), and operates a Regulatory Innovation Hub and Sandbox for fintech assessment.
Registration and Status: Over 16 VASPs have been approved since March 2024, with the FSC committing to initial feedback within 6 weeks and decisions within 6 months, though actual timelines vary.
SB 2297 (enacted in 2019): Creates the New Jersey Blockchain Initiative Task Force to study whether state, county, and municipal governments can benefit from blockchain-based systems for recordkeeping and service delivery
AB 3817: Regulates digital currencies and establishes consumer protections, including registration requirements with the Department of Banking and Insurance
AB 3386 and SB 2957: Would regulate rather than ban crypto ATMs, requiring operators to obtain a money transmitter license from the Department of Banking and Insurance, maintain a consumer protection officer, secure their locations with security cameras and lighting, and inform the department of kiosk locations
H.B. 4200/S.B. 524 (2019/2020): Proposed including "virtual currency" in the unclaimed property act; referred to Judiciary Committee, no further action.1
S.B. 163 (S0163, introduced Jan. 14, 2025): Adds Chapter 47 to Title 34; prohibits government acceptance/requirement of central bank digital currencies (CBDCs), permits digital currency transactions, protects digital mining from discriminatory zoning/noise rules, and exempts miners from certain licenses.45
Recent proposed bill (early 2025, unnamed in source): Aims to regulate crypto payments, taxes, mining, and transactions; under discussion for frameworks and guardrails.2
2025 S.B. 163 and H.B. 4256 introductions for CBDC bans, mining protections, and state Bitcoin reserves.346
SPDI charters for crypto custody banks, limited to business entity depositors and compliant with federal laws.
Guidance on Regulation of Virtual Assets: Issued by FSC in 2020. Clarifies applicability of existing laws to virtual asset activities, assessing factors like asset use and business analogy to traditional finance.
State Bank of Vietnam (SBV): Ensures financial stability, develops regulations, and enforces the ban on crypto as payment (per historical directives like Official Letter No. 5747/NHNN in 2017).
Enforcement and Penalties: Non-compliance triggers administrative sanctions under Section 45C of the FIC Act. FSCA Communication 44 of 2024 notified supervised institutions.
The SEC appointed David Woodcock as Director of Enforcement on April 8, 2026, but this is a U.S. development unrelated to Iraq Seeking Alpha.
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Silver spot price at $73.45 per ounce as of April 6, 2026, relevant for commodity-linked sanctions USA Today Silver
The Coinbase OCC approval (April 2, 2026) represents a significant milestone for institutional crypto custody under federal supervision in the U.S., a regulatory framework Comoros currently lacks Coindesk Forbes
A recent SEC interpretation issued March 17, 2026
SEC-CFTC Joint Interpretive Release issued March 17, 2026: Statement on the Application of Federal Securities Laws to Crypto Assets
SEC-CFTC Joint Memorandum of Understanding referenced as issued the week preceding March 17, 2026
US regulatory overview: SEC and CFTC guidance issued March 17, 2026, plus state-level frameworks (New York, California)
U.S. federal developments (SEC/CFTC guidance issued March 17, 2026)
Securities and Exchange Commission (SEC): Oversees digital assets deemed securities, including issuance and resale; issued a March 17, 2026, interpretation clarifying federal securities laws' application to crypto assets and transactions, stating most crypto assets are not securities.
A recent SEC interpretation issued March 17, 2026
General Resolution No. 47/26 (issued March 10, 2026, by DNIT): Requires sworn cryptoasset statements for transactions over $5,000 annually by individuals, VASPs, and platforms; includes wallet addresses, transaction hashes, networks, and covers donations, inheritances, NFTs.
On March 6, 2026, White House officials issued Executive Order 14390 targeting foreign scam centers and protecting local retail investors
March 6, 2026: Governor signed HB 0075, regulating virtual currency kiosks under money transmitter laws with confidentiality protections and immediate applicability; no specific enforcement actions noted.
The FDA published technical amendments to the Medical Devices Quality Management System Regulation effective February 2, 2026, showing technical regulatory updates across sectors FDA Medical Devices Technical Amendments.
The UAE Capital Markets Authority (SCA) issued Decision No. 4/R.M/2026 establishing 8 licensed financial activities for virtual assets with capital requirements ranging from AED 500,000 to AED 4 million. The regulations explicitly prohibit privacy tokens and algorithmic tokens. VARA in Dubai and ADGM in Abu Dhabi continue as separate regulatory frameworks alongside the federal regime.
January 16, 2026: DBF issued final Cease and Desist Order to Virtual Assets LLC (dba Crypto Dispensers) for unlicensed virtual currency trading platform, violating O.C.G.A. § 7-1-681. Official: https://dbf.georgia.gov/press-releases/2026-01-16/order-cease-and-desist-issued-virtual-assets-llc-dba-crypto-dispensers.
The Dubai Financial Services Authority brought into force updated regulatory frameworks for Crypto Tokens in the Dubai International Financial Centre, enhancing market integrity and supporting innovation. DFSA remains more conservative than VARA, focusing on investment/security tokens rather than general crypto exchange licensing.
Proposed Act on Tax on Gains from the Disposal of Crypto Assets (public feedback until May 5, potentially effective January 1, 2026): Introduces 25% tax on net profits from selling crypto for fiat, payments, or certain transfers (exempts crypto-to-crypto); aligns with financial instruments taxation.
The SEC has taken an aggressive enforcement posture with over 50 enforcement actions against crypto projects, exchanges, and individuals since 2023 for alleged unregistered securities offerings, fraud, and operating unregistered platforms. This campaign has reshaped the US crypto landscape and pushed several major platforms to seek registrations or exit the market.
Law N°27,739 (March 2024): Establishes the formal regulatory framework for VASPs, mandates CNV registration, and integrates AML/KYC processes. Full framework takes effect December 31, 2025.
Future Regime (Post-MiCA): From December 30, 2025, MiCA will introduce a harmonized licensing regime across the EU. Entities providing "crypto-asset services" (as defined by MiCA) will require a license from a competent national authority (likely HANFA in Croatia, in coordination with USPN for AML aspects) in one EU member state, which will then allow them to operate across the entire EU ("passporting"). This will replace the national AML registrations for the services covered by MiCA.
Penalty: NTC directive to ISPs for website/mobile app blocks (effective by December 25, 2025 via PLDT/Smart/Globe); part of broader risk controls for money laundering/terrorist financing.
On December 15, 2025, U.S. Senators Elissa Slotkin and Jerry Moran introduced the Strengthening Agency Frameworks for Enforcement of Cryptocurrency (SAFE Crypto) Act to establish an inter-governmental task force to combat digital fraud
FSC Guidelines and Oversight: The FSC issues guidance (e.g., VASP Application Guidance, AML/CFT Notes, Travel Rule Guidance) and FAQs (latest published November 21, 2025) covering VASP definitions, registration, compliance obligations like AML/CFT systems, audits, and record-keeping, plus supervisory powers including enforcement and risk-based monitoring.
Virtual Asset Service Providers Act, 2025: Enacted November 15, 2025 (presidential assent); establishes legal framework for VASPs. Draft regulations operationalize it.
Resolution No. 05/2025/NQ-CP (Resolution 5): Issued September 9, 2025. Launches a five-year pilot for cryptocurrency exchange licensing with strict capital, ownership, and compliance rules.
Key reference: Resolution No. 05/2025/NQ-CP (September 9, 2025) establishes the licensing regime with AML/CTF as a core objective; Decision No. 96/QD-BTC details procedures, including AML appraisals.
2025-2029 exemption: Ministerial Regulation No. 399 (B.E. 2568), published September 5, 2025, exempts PIT on qualifying capital gains via licensed operators under the 2018 Emergency Decree on Digital Asset Businesses; offshore or unlicensed trades remain taxable.
Instruction No. 06‑2025, Bank of Algeria (August 17 2025) – <https://www.linkedin.com/posts/algeriatech_algerias-fintech-sector-just-got-its-first-activity-7475842918226956288-l849>
Date: Advisory issued August 1, 2025; warnings escalated August 4, 2025.
The GENIUS Act was signed into law on July 18, 2025, establishing a federal regulatory framework for stablecoin issuers, with full implementation expected between 2026-2027.GENIUS Act Overview
California's Digital Financial Assets Law (DFAL) took effect, creating a state-specific crypto licensing framework administered by the DFPI. The law requires a $5M minimum surety bond and 6-12 month application timeline, adding another layer to the already complex US state-by-state licensing patchwork where full 49-state coverage costs $2M-$10M+ and takes 18-36 months.
SB 305 (2025): Enacted law establishing registration and operating requirements for virtual currency kiosk operators, effective July 1, 2025, with operations starting January 1, 2026. Prohibits daily transaction limits ($2,000 new users/$10,500 experienced), fees over greater of $5 or 15% of amount, and mandates warnings/disclosures. OFR enforces with up to $1,000 civil penalties per willful violation. Details: https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0305?ys=2025RS
DAF is rescinding its National Environmental Policy Act (NEPA) regulations, including the Environmental Impact Analysis Process (EIAP), aligning with Council on Environmental Quality (CEQ) NEPA updates; published July 1, 2025.Federal Register EIAP Removal
Post-MiCA (from June 30, 2025): Licensing regime via CASP authorization; single EU passporting allows operation across member states without per-country re-licensing. Transitional grace until Dec 30, 2025, for existing operators.
The IRS has finalized Form 1099-DA requiring brokers and exchanges to report digital asset transactions. Effective for tax year 2026, this brings crypto reporting in line with traditional securities.
South Africa was removed from the FATF grey list in 2025 after implementing required AML/CFT reforms. The country had been the first African nation to formally regulate crypto as a financial product under FAIS (November 2022). The removal improves correspondent banking access and international standing for South African crypto businesses.
Primary Law: “Creation and Use of a Regulatory Sandbox Framework by the National Bank of Georgia,” approved by Order No. 125/04, dated May 23, 2025.
Crypto Travel Rule: Implemented April 30, 2025, for CASPs.
Court-supervised liquidations (April 3, 2025): Cayman Grand Court ordered supervised liquidations of AXIA Network Foundation (ANF) and ANF MergeCo Ltd (crypto entities in the failed Axia Group) for efficacy in stakeholder interests; no regulatory penalty specified.
On March 12, 2025, SEC staff issued interpretive guidance via no-action letter to Latham & Watkins LLP, allowing reliance on investor's written representation of accredited status under Rule 506(c) without further verification if issuer has no actual knowledge of contrary facts.SEC No-Action Letters
Indonesia completed the transfer of cryptocurrency regulatory oversight from Bappebti (commodity futures regulator) to OJK (financial services authority) under the Omnibus Financial Law P2SK. Previously, crypto was regulated as commodity futures with IDR 50B minimum capital. OJK is finalizing new requirements during a transition period. Indonesia also launched the national crypto bourse (Bursa Kripto Indonesia) in 2023.
In June 2024, the UAE announced a 9% corporate tax on free zone entities that do not meet the “Qualifying Free Zone Person” criteria, with a new “Domestic Minimum Top-Up Tax” for MNEs effective for tax years starting on or after January 1, 2025 UAE Ministry of Press Release June 2024
A 15% Domestic Minimum Top-Up Tax was implemented on January 1, 2025 PwC Tax Summaries
CSA (Canadian Securities Administrators) issued Staff Notice 21-333 on stablecoins, effective after December 31, 2024 transition.
Canadian Securities Administrators (CSA) issued Staff Notice 21-333 on stablecoins, effective after December 31, 2024 transition, permitting only fiat-backed stablecoins pegged to CAD or USD, fully reserved, redeemable at par, and custodized with qualified entities.https://www.trmlabs.com/reports-and-whitepapers/global-crypto-policy-review-outlook-2025-26
The Markets in Crypto-Assets Regulation (MiCA) is now fully applicable across all EU member states. CASPs must obtain authorization from their national competent authority to continue operations. Transition periods vary: France chose 6 months, Germany 12 months, with a maximum of 18 months (July 2026 deadline).
Notabene jurisdiction map (enforcement December 30, 2024).
Adopted and Effective Date: Fully implemented and enforced as of December 30, 2024, listed among jurisdictions where the Travel Rule is active.
Markets in Crypto-Assets Regulation (MiCA): Fully applicable as of December 30, 2024, creating a harmonized EU-wide framework. Finland enacted the Act on Crypto-Asset Service Providers and Markets in Crypto-Assets to implement MiCA nationally.
Markets in Crypto-Assets (MiCA): EU regulation approved April 2023, fully applicable December 30, 2024; core framework for issuance, trading, and services (no specific Lithuanian URL; implemented nationally).
Adoption and Effective Date: Adopted as part of the TFR recast in May 2023 (Regulation (EU) 2023/1113 entered into force June 2023). Full compliance is mandatory from December 30, 2024, following European Banking Authority (EBA) guidelines finalized in 2024.
Technical Implementation Requirements: CASPs must securely transmit and retain detailed data on originators (e.g., name, address, wallet addresses) and beneficiaries during transfers. EBA's Travel Rule Guidelines (finalized July 2024, applicable December 30, 2024) specify detecting/handling missing data, risk-based approaches, and compliance with prior guidelines like JC/GL/2017/16. The EU mandates more extensive data points than FATF or jurisdictions like Singapore.
AML/CFT for CASPs (since December 30, 2024): Mandates KYC, transaction monitoring, and sanctions compliance.
Markets in Crypto-Assets Regulation (MiCA/MiCAR): EU-wide (enacted 2024, licenses effective December 30, 2024); AFM processes applications, promotes transparency; DNB focuses on stablecoins.
Future Regime (MiCA): Licensing. The EU's Markets in Crypto-Assets (MiCA) Regulation (Regulation (EU) 2023/1114) will introduce a comprehensive, harmonized licensing framework for crypto-asset service providers (CASPs) across all EU member states. MiCA will come into full effect for most crypto-assets by December 30, 2024 (stablecoin rules apply from June 30, 2024). Once MiCA is fully implemented, it will largely supersede the national AML-driven registration requirements for the activities it covers, introducing a full licensing regime with passporting rights across the EU.
Notabene jurisdiction map (enforcement December 30, 2024).
The Payment Token Services Regulation (PTSR) governs the issuance, conversion, custody, and transfer of stablecoins within the UAE and took effect on August 31, 2024.Gulf News UAE Stablecoin Rules
For other OFAC-issued documents not publicly posted, contact OFAC referencing the case ID or FAC number; updated August 21, 2024.OFAC FAQ 468
EU Member State Transposition (July 2024): As of July 18, 2024, only 9 out of 27 EU Member States had either fully transposed MiCA into national law or published draft legislation to do so, according to the European Commission's implementation tracker. The deadline for transposition of the regulatory technical standards and national implementing measures is December 30, 2024 European Commission MiCA Tracker
Classification Delegated Regulation (July 2024): The European Commission published on July 17, 2024, a delegated regulation specifying the technical criteria for classifying crypto-assets as financial instruments under MiCA, which will affect whether an asset falls under MiCA or existing Markets in Financial Instruments Directive (MiFID II) rules European Commission Delegated Regulation MiCA Classification
ESMA DeFi Statement (July 2024): Non-compliant decentralized finance protocols face significant risks: ESMA published a statement on July 17, 2024, warning that DeFi platforms facilitating crypto-asset swaps or lending may be classified as CASPs under MiCA if they exercise control over user funds or operations, potentially requiring them to seek authorization or restrict EU access ESMA DeFi Statement
EDPB Guidelines on MiCA and GDPR (July 2024): A significant development occurred on July 16, 2024, when the European Data Protection Board issued guidelines clarifying that MiCA's requirements for transaction monitoring and anti-money laundering record-keeping must be reconciled with the General Data Protection Regulation (GDPR), potentially requiring firms to implement data protection impact assessments and anonymization protocols EDPB Guidelines on MiCA and GDPR
ESMA Supervisory Convergence Statement (July 2024): ESMA released on July 15, 2024, a "Supervisory Convergence and Enforcement Statement" warning national competent authorities that failing to meet the December 30, 2024 deadline for authorizing CASPs could lead to enforcement actions by the European Commission. The statement emphasizes that NCAs must ensure a "level playing field" and avoid "regulatory arbitrage" during the transitional period ESMA Supervisory Convergence Statement
Coinbase Derivatives Impact (July 2024): The crypto derivatives market has been affected: Coinbase announced on July 15, 2024, that it will discontinue offering crypto derivatives to retail EU clients unable to pass MiCA's new "suitability and appropriateness" tests, which require enhanced risk warnings and client categorization Coinbase MiCA Derivatives Impact
JRC Economic Impact Assessment (July 2024): The European Commission's Joint Research Centre published an economic impact assessment on July 12, 2024, estimating that MiCA compliance costs for medium-sized crypto firms could range from €500,000 to €2 million for initial authorization, with ongoing annual costs of €100,000 to €500,000 for regulatory reporting and compliance EC Joint Research Centre MiCA Impact
Circle MiCA Application (July 2024): The stablecoin market has seen significant restructuring: Circle, the issuer of USDC and EURC, announced on July 9, 2024, that it is applying for an e-money token issuer license under MiCA, which will require compliance with the EBA's guidelines on redemption rights and reserve asset management Circle MiCA Application
South Korea's VAUPA introduced comprehensive investor protections including unfair trading and insider trading prohibitions, mandatory insurance/reserves for exchange failures, and a KRW 3B minimum equity capital requirement for exchanges. Only 5 exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) hold real-name bank account partnerships required for fiat trading.
Turkey enacted its Crypto Assets Law after years of regulatory uncertainty and the 2021 Thodex exchange fraud where the CEO fled with approximately $2B. The law requires CASP licensing from SPK with TRY 50M minimum capital and includes criminal penalties for unlicensed operation. Despite having one of the world's highest crypto adoption rates, the April 2021 crypto payments ban remains in effect.
In June 2024, CBUAE issued the final Payment Token Services Regulation, coming into effect July 1, 2024 CBUAE June 2024 Notice
The U.S. Court of International Trade (CIT) issued a landmark ruling on March 15, 2024, in Magnetic Tape from Japan (Court No. 23-00112) upholding DOC’s use of adverse facts available (AFA) against non-responsive Chinese exporters CIT Opinion
Licensing is Mandatory: As of March 1, 2024, entities operating as Virtual Asset Service Providers (VASPs) in Georgia are required to obtain a license from the National Bank of Georgia (NBG). This includes:
Banco Central de Honduras (BCH) Resolution No. 477/2024 (February 13, 2024): The Central Bank of Honduras issued a resolution prohibiting financial institutions under its supervision from holding, managing, facilitating, or operating with cryptocurrencies, stating they are not legal tender and pose risks to the financial system.
On February 13, 2024, BCH issued Resolution No. 477/2024, which broadened the prohibition to include any financial institution under its supervision from holding or engaging with crypto-assets El Heraldo Report. This resolution does not explicitly address unregulated individuals or non-financial businesses, leaving a regulatory gap for peer-to-peer crypto transactions outside the formal financial system.
General Rule No. 502 (NCG 502), issued by the CMF under the Fintech Law, regulates the registration and authorization of financial service providers, with a February 3, 2024 deadline for compliance.
India's Financial Intelligence Unit blocked access to 9 offshore crypto exchanges including Binance and KuCoin for non-compliance with VDA Service Provider registration requirements under PMLA amendments. Most subsequently registered. Combined with the punitive 30% flat tax and 1% TDS, India's approach has significantly impacted domestic trading volumes.
The Central Bank of Nigeria partially reversed its February 2021 ban on banks servicing crypto businesses. SEC Nigeria stepped in as the primary crypto regulator with a new VASP licensing framework (2024) covering exchanges (NGN 500M), custody (NGN 2B), and offering platforms. Despite being the highest crypto adoption market in Africa, enforcement capacity remains limited.
Bank of Ghana Public Caution on Non-Regulated Digital Currencies and Virtual Assets (November 17, 2023): Bank of Ghana Public Caution on Non-Regulated Digital Currencies and Virtual Assets
Date: Decision issued on October 25, 2023 FIN-FSA Press Release - Tesseract.
The FCA's crypto financial promotions regime classified most cryptoassets as 'restricted mass-market investments' under FSMA. All promotions must include prominent risk warnings, be clear/fair/not misleading, and restrict incentives like referral bonuses. FCA has maintained an ~85% rejection rate for crypto registrations with only ~40 firms currently registered.
Penalty Amount: Seizure of crypto assets. Israel has reported seizing tens of millions of dollars' worth of cryptocurrency from these groups over the past few years. For example, in June 2021, over NIS 2 million (approx. $600,000) was seized, and significantly larger seizures have occurred since, especially after October 7, 2023. These are ongoing actions, with assets being forfeited to the state.
MiCA Regulation: The Markets in Crypto-Assets (MiCA) Regulation, adopted by the European Union and implemented in Denmark on September 12, 2023, provides a comprehensive framework for consumer protection, market integrity, and classification of crypto-assets. MiCA classifies stablecoins and utility tokens under specific provisions to ensure adequate oversight.
Effective Date: The Financial Intelligence Amendment Act, 2023, was gazetted on August 24, 2023, and became effective upon its publication. This Act significantly updates the primary AML/CFT law, the Financial Intelligence Act, 2012 (Act No. 13 of 2012), to include virtual assets and virtual asset service providers (VASPs).
On August 23, 2023, DOC published final rule “Regulations Improving AD/CVD Enforcement” effective October 1, 2023, adding new verification procedures for exporter surveys Federal Register Rule
MAS Stablecoin Regulatory Framework (SCS Framework): Finalized August 15, 2023; not fully in force as of late 2025, with further details/legislation expected (e.g., November 2025 announcement).
The primary "penalty" for non-compliance is a prohibition rather than a specific fine; regulated entities found violating the ban face regulatory sanctions including license revocation, operational restrictions, and potential fines under existing financial laws [Reuters - Kuwait Issues Blanket Ban on Crypto Use](https://www.reuters.com/markets/currencies/kuwait-issues-blanket-ban-crypto-use-payments-investments-2023-07-20/
Act on the Protection of Virtual Asset Users (Virtual Asset User Protection Act): Enacted July 18, 2023; effective July 19, 2024; prohibits market manipulation, insider trading, and unfair practices with severe penalties (e.g., life imprisonment for gains over 5 billion won); enhances FSC oversight.
The SCA also issued warnings regarding unregulated crypto promotions and required all VASPs to register by June 30, 2023 SCA Public Warnings.
Financial Services Law Amendment (2023): Armenia's Financial Services Law, previously governing traditional financial institutions, was amended on June 15, 2023, to incorporate specific provisions for virtual asset service providers (VASPs). This amendment mandates registration with the NBA and compliance with AML/CFT regulations.
Publication: MiCA was published in the Official Journal of the European Union on June 9, 2023.
MiCA Publication Date: MiCA was published in the Official Journal of the European Union on June 9, 2023 Official Journal of the EU
Published in the Official Journal of the EU on June 9, 2023 EUR-Lex Official Publication
Hong Kong's mandatory Virtual Asset Trading Platform licensing regime under AMLO Part 5B took effect, requiring all centralized exchanges serving HK public to obtain SFC licenses. OSL and HashKey were the first licensees. The regime allows retail trading of approved tokens and requires 98% cold storage — one of the strictest custody requirements globally.
Japan became one of the first major economies with a dedicated stablecoin law. Only licensed banks, trust companies, or fund transfer service providers can issue stablecoins, which must be redeemable at face value with 100% fiat reserves. The law defines stablecoins as 'electronic payment instruments' and requires intermediary registration.
The critical regulatory bridge for VASPs is Aviso No. 03/2023 (Notice 03/2023) of the National Bank of Angola (March 30, 2023), which establishes the legal framework for licensing and supervision of Virtual Asset Service Providers and explicitly extends AML/CFT obligations from Lei n.º 5/20 to VASPs BNA - Aviso 03/2023
Aviso No. 03/2023 (Notice 03/2023) of the National Bank of Angola (March 30, 2023): This is the key regulation establishing the legal framework for licensing and supervision of Virtual Asset Service Providers (VASPs) and the issuance, registration, distribution, and commercialization of virtual assets in Angola BNA - Aviso 03/2023 Full Text
March 30, 2023: Aviso No. 03/2023 issued (VASP licensing and AML/CFT framework) BNA - Aviso 03/2023
Central Bank Guidelines: The Central Bank of Botswana issued a notice on March 15, 2023, confirming that while cryptocurrencies are not recognized as legal tender, they can be traded under strict regulatory oversight. This guideline is accessible via the Central Bank's official website: Central Bank Notice on Cryptocurrencies.
Adopted and Effective Date: Adopted via PMLA amendment on March 7, 2023, explicitly to comply with the FATF Travel Rule by including VDA service providers (often termed VASPs) in the PMLA framework.
Law of the Republic of Kazakhstan "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Combating Legalization of Criminal Proceeds (Money Laundering) and Financing of Terrorism" (No. 182-VII dated February 2, 2023): While a direct English link to the full official text can be difficult to find publicly, information about its adoption is widely reported.
Al-Monitor: "Syria’s central bank bans cryptocurrency trading" (February 2, 2023)
Virtual Asset Service Providers Act, 2022 (VASP Act): Enacted in 2022 and effective February 1, 2023. Establishes licensing for VASPs, aligns with FATF AML/CFT standards, and defines regulated services (e.g., exchange, transfer, custody). Existing VASPs had until July 31, 2023, to apply; new entities must register before operating.
Virtual Assets Service Providers Act 2022: Enacted 2022, came into effect February 1, 2023
The National News: "Syria central bank bans cryptocurrency trading" (February 1, 2023)
Reuters: "Syria's central bank bans cryptocurrency trading" (January 31, 2023)
Effective Date: The key regulation implementing these requirements is UAFE Resolution No. UAFE-DG-2023-0002, titled "RESOLUCIÓN QUE EMITE LAS DISPOSICIONES PARA LA PREVENCIÓN DE LAVADO DE ACTIVOS Y FINANCIAMIENTO DE DELITOS PARA LOS PROVEEDORES DE SERVICIOS DE ACTIVOS VIRTUALES" (Resolution Issuing Provisions for the Prevention of Money Laundering and Financing of Offenses for Virtual Asset Service Providers). This resolution was published on January 27, 2023, and became effective upon its publication.
Banque Centrale de Madagascar (BCM) Communiqué N°001/2023-BCM/DGOPS/SPSF dated January 11, 2023, titled "Avis et Mise en garde aux opérateurs économiques et au public sur les activités liées aux Crypto-monnaies."
Ley de Emisión de Activos Digitales (Digital Assets Issuance Law) - Enacted January 10, 2023:
ESR apply to entities conducting “relevant activities” (e.g., banking, insurance, shipping, holding company, headquarters, intellectual property) with a full-fledged compliance deadline of December 31, 2022, for reporting periods ending on or after January 1, 2019 UAE Ministry of Finance ESR Guidelines
Circular N° 001/GR/2022 of BEAC concerning the ban on cryptocurrencies and crypto assets, dated December 21, 2022.
BEAC Stance: The Banque des États de l'Afrique Centrale (BEAC) has historically issued restrictive warnings regarding cryptocurrencies, reflecting concerns about financial stability, consumer protection, and illicit finance risks. The BEAC issued Circular N° 001/GR/2022 dated December 21, 2022, concerning the ban on cryptocurrencies and crypto assets within the formal financial system BEAC Official Statement
The Corporate Tax Law (Federal Decree-Law No. 47 of 2022) was issued on October 3, 2022, and published in the Official Gazette UAE Federal Tax Authority - CT Law
Effective Date: The Virtual Asset Service Providers Act 2022 was assented to on September 26, 2022, and became effective on October 1, 2022, for licensing purposes. The AML/CFT obligations, including the Travel Rule, would have become applicable to licensed VASPs from that date or as regulations/guidance are issued.
Regulator/Enforcing Body for arrest: Albanian State Police carried out the arrest of Faruk Fatih Özer in Vlora on August 30, 2022, based on an Interpol Red Notice. The Interior Ministry announced the arrest. SPAK’s role in this case was primarily related to subsequent judicial proceedings (extradition review), not the arrest itself. Reuters
Reuters: Afghanistan central bank bans online foreign currency trading, crypto (August 24, 2022) - https://www.reuters.com/markets/currencies/afghanistan-central-bank-bans-online-foreign-currency-trading-crypto-2022-08-24/
Al Jazeera: Taliban cracks down on crypto trading in Afghanistan (August 24, 2022) - https://www.aljazeera.com/news/2022/8/24/taliban-cracks-down-on-crypto-trading-in-afghanistan
TOLOnews: Crypto Currency Trading Banned in Afghanistan (August 24, 2022) - https://tolonews.com/business-179830 (This source reports the statement from Da Afghanistan Bank official confirming the ban and arrests in Herat.)
CoinDesk: Afghanistan’s Taliban Shuts Down 16 Crypto Exchanges, Arrests Dealers (August 23, 2022) - https://www.coindesk.com/policy/2022/08/23/afghanistans-taliban-shuts-down-16-crypto-exchanges-arrests-dealers/
Law of the Kyrgyz Republic "On Digital Assets" dated August 9, 2022, No. 120: This is the foundational law that broadly defines and regulates various aspects of digital assets.
Adopted and Effective Date: Adopted via the Anti-Money Laundering (Amendment) (No. 2) Regulations, 2020, with Part XA commencing on July 1, 2022. CIMA issued guidance requiring VASPs to submit compliance plans by March 31, 2022.
Decree of the President of the Republic of Uzbekistan No. DP-196 of April 27, 2022 "On Measures for the Regulation of Activities in the Sphere of Circulation of Virtual Assets": This decree further strengthened the regulatory framework, designating NAPP as the sole authorized body for regulating virtual asset circulation. It explicitly mandates licensing for VASPs and imposes AML/CTF obligations.
BEAC Circular No. 001/GR/2022/GR of March 28, 2022, explicitly prohibits financial institutions and all economic agents in the CEMAC region from engaging in activities related to crypto-assets, including holding, exchanging, selling, or purchasing crypto-assets. This directive was reinforced by a subsequent letter to all banks and financial institutions.
Adoption and Effective Date: Adopted and in force since March 25, 2022. Expansion announced February 5, 2025, with a six-month grace period for upgrades, targeting full effect around August 2025, though further revisions continue into 2026.
Effective Date (Regional): The BCEAO Instruction N° 003/2022/RB/BCEAO was published on March 24, 2022, making it effective from that date for VASPs operating within the UEMOA zone. Member states, including Togo, are expected to implement this through national laws and regulations.
Adopted and Effective Date: Implemented by Estonia’s Financial Intelligence Unit (FIU) under the Ministry of Finance via amendments to the AML Act. The rule took effect March 15, 2022, with a three-month compliance period ending June 15, 2022—the fastest Travel Rule enforcement globally. One source notes alignment with EU AMLD5 effective July 1, 2021, but primary enforcement dates are March/June 2022.
Central Bank of Iraq (CBI) Circular No. 9005/1/2022 dated February 16, 2022: This is the primary directive. While an official English URL for the circular itself might not be readily available, its content and impact have been widely reported.
Effective Date: The prohibition on virtual asset transactions was communicated by the Banque Centrale de Mauritanie (BCM) on February 16, 2022. This communiqué effectively put in place the ban.
Date: Decision issued on February 9, 2022 FIN-FSA Press Release - Coinmotion.
Coinmotion Oy case: Finanssivalvonta issued a public warning on February 9, 2022, instructing Coinmotion Oy to rectify identified deficiencies in AML/CTF processes Finanssivalvonta
The Banco Central de Honduras (BCH) issued a formal statement on January 12, 2022, declaring that cryptocurrencies are not legal tender and are not recognized by the Honduran state or its central bank BCH Comunicado. This position was reinforced by Reuters reporting on the same date Reuters Report.
January 12, 2022 BCH statement: Confirmed. The central bank's official comunicado and Reuters confirm cryptocurrencies are not legal tender BCH Comunicado and Reuters.
The Banco Central de Honduras (BCH) issued an official communiqué on January 12, 2022, declaring that cryptocurrencies, including stablecoins, are not legal tender in Honduras and are not backed by the BCH Reuters
As of 2024, no specific VASP licensing or registration regime exists in Tanzania. The Bank of Tanzania (BoT) issued a public notice on January 7, 2022, reiterating that cryptocurrencies are not legal tender and warning the public against using or trading in virtual currencies Bank of Tanzania, Public Notice on Virtual Currencies, January 7, 2022.
Bank of Tanzania – Public Notice on Virtual Currencies, January 7, 2022
Amendments to the Tax Code of the Kyrgyz Republic (Налоговый кодекс Кыргызской Республики) – Specifically, a new chapter (often referred to as Chapter 45-1 or similar) was introduced to govern the taxation of activities related to virtual assets. These amendments became effective on January 1, 2022.
Act CXVII of 1995 on Personal Income Tax (Szja. Act) governs crypto taxation, with clarifying amendments effective January 1, 2022 NAV Crypto Tax Guidance
Communiqué N° BRB/DGD/2021-002 du 16 Décembre 2021 de la Banque de la République du Burundi (Bank of the Republic of Burundi Communiqué No. BRB/DGD/2021-002 of December 16, 2021).
Official Reference: BEAC issued a press release on December 10, 2021, warning the public that virtual assets are not legal tender in the CEMAC region and are not issued or guaranteed by the Central Bank African Legal Network Analysis
The BCV issued a formal public warning on December 7, 2021, alerting the general public and financial institutions to the risks of cryptocurrencies, including volatility, lack of regulation, and potential for fraud and money laundering Expresso Report
The Banco Central del Uruguay (BCU) issued Comunicación No. 2021/200 on November 29, 2021, which established the BCU's initial public position on virtual assets. This communication warned the public that virtual assets are not legal tender in Uruguay and advised on associated risks, while also announcing the BCU's intention to analyze and potentially develop a regulatory framework for virtual assets. This document did not immediately establish the BCU as the definitive primary regulator for the entire virtual asset space; rather, it marked the beginning of the BCU's regulatory engagement BCU Comunicado No. 2021/200.
Date Issued: November 29, 2021. Subsequent communications, including the formal VASP regulation in November 2023, built upon this initial statement BCU Comunicado No. 2021/200.
Effective Date: The Sovereign Ordinance n° 8.761 entered into force upon its publication, which was November 19, 2021.
WAEMU/UEMOA Regional Influence: The West African Economic and Monetary Union (WAEMU/UEMOA), of which Burkina Faso is a member, and its central bank (BCEAO) have taken concrete regulatory steps regarding virtual assets. The BCEAO issued Instruction No. 001/RB/2021 on October 29, 2021, which prohibits crypto-asset activities in the WAEMU zone. This regional framework directly influences national implementation and effectively shapes the legal landscape for any potential Travel Rule compliance. BCEAO Instruction No. 001/RB/2021 (October 29, 2021)
Financial institutions cannot handle, hold, or trade cryptocurrencies; a full ban on trading and mining took effect September 24, 2021.
September 24, 2021 (Joint Statement by PBOC et al.): Comprehensive ban on all crypto transactions (crypto-to-fiat/crypto-to-crypto), mining, and related activities.
The People's Bank of China (PBOC) and nine other government agencies jointly issued the September 24, 2021 Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading and Speculation, which declares all virtual currency-related business activities illegal and prohibits financial institutions, payment channels, and internet platforms from providing related services PBOC Notice 2021.
Ley Bitcoin (Bitcoin Law) - Enacted September 7, 2021:
OFAC issued General License No. 20 (September 2, 2021) to authorize all transactions “ordinarily incident” to humanitarian relief in Afghanistan, including food, shelter, medicine, and education OFAC GL 20.
Resolution 215/2021 of the Central Bank of Cuba (Resolución 215 de 2021 del Banco Central de Cuba), published in the Official Gazette No. 71 Ordinary of August 26, 2021.
Resolution 216/2021 of the Central Bank of Cuba (Resolución 216 de 2021 del Banco Central de Cuba), also published in the Official Gazette No. 71 Ordinary of August 26, 2021.
Resolución No. 215/2021 del Banco Central de Cuba (BCC) – Dated August 26, 2021, this is the cornerstone regulation for virtual assets. It establishes rules for their use in commercial transactions, licensing, and supervision in Cuba. It defines virtual assets and VASPs, explicitly stating the BCC will grant licenses to VASPs operating in Cuba, and stresses AML/CFT compliance. Gaceta Oficial No. 92 Ordinaria de 2021
The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) froze approximately $7 billion of Afghan central bank (Da Afghanistan Bank) reserves held in U.S. accounts on August 15, 2021 U.S. Treasury Press Release.