Key Takeaways

• India is set to postpone the highly-anticipated crypto bill in parliament, as the Modi government has not yet finalised the specifics of the legislation and needs more time for further talks on the topic before adopting laws to manage digital currencies.

• China’s official Xinhua News Agency is launching a nonfungible token (NFT) collection on 24 December. The state-run news agency plans to publish 10,000 copies of 11 photos taken by journalists in 2021, according to an official notice. The move is a thumbs up to blockchain technology previously shunned by mainland China.

• The Russian central bank will allow crypto investment (via foreign firms only). Mixed signals dominate on the Russian crypto market — shortly after the Bank of Russia was reportedly seeking to prohibit investors from making new investments in cryptocurrencies, an executive at the central bank said that crypto investment will remain legal in Russia.

Highlights

• China’s state-run news agency to launch NFT collection

• Indian parliament's agenda for winter session no longer includes crypto bill

• Indian state government to accredit Web2 and Web3 blockchain startups

• IMF chief economist opposes crypto ban, wants sector regulated

• Former SEC Chairman Jay Clayton says he believes strongly in crypto technology

• Tesla accepts Dogecoin as payment method for its merchandise

• Bitcoin’s Lightning Network under surveillance by U.S. government agencies

• Russia to decide between blanket crypto ban and legalising exchanges in 2022

• The Bank of England will push for tighter rules as institutions embrace crypto

• Senate hearing on stablecoins: Compliance anxiety and Republican pushback

• U.S. Treasury official beckons new stablecoin regulations

• Dubai World Trade Centre to create new crypto hub and become regulator

• 100 digital payment token firms in Singapore fail to win licenses: Report

• City of Jackson to make history with cryptocurrency payroll conversion

• China bans cryptocurrency-related short videos on various social platforms

Global Crypto Policies (over the past 3 months)

*Ranking based on 2020 nominal GDP Sources: International Monetary Fund, World Economic Outlook Database, April 2021

Worldwide Policies on Crypto Taxation

Data as of 13 Sep 2021 Sources: 3Commas; Decrypt; BusinessWord; Koinly

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