Key Takeaways

• New York-based crypto predictions platform Polymarket has been ordered to pay a fine of USD 1.4 million by the Commodity Futures Trading Commission (CFTC). Polymarket was found to have operated an ‘illegal unregistered or non-designated facility’ since June 2020, according to a CFTC announcement made on Monday.

• China’s largest city and financial hub Shanghai plans to use a metaverse in public services, businesses, entertainment, and industrial manufacturing, according to its five-year development plan for the electronic information industry.

• The European Securities and Markets Authority (ESMA) published on Tuesday a Call for Evidence seeking public comments on the use of distributed ledger technology (DLT) for securities trading and settlements. The objective is to assess whether relevant regulatory standards need to be revised for tokenised securities running on DLT.

Highlights

• North Korea accused of stealing over $1.7B in crypto from exchanges

• Mexico confirms plans to roll out CBDCs in 2024

• U.K. MPs call for more crypto regulation to protect investors

• Peru proposes a bill to regulate Bitcoin and other cryptocurrencies

• Bitcoin ETF decision delayed, SEC commissioner wonders why

• South Korean crypto exchanges to follow Coinone in verifying private wallets

• South Korean presidential candidate to use NFTs to raise funds for campaign

• Indian taxman recovers $6.62M from WazirX for evading tax on commission

• Malaysian police confiscate 1,720 Bitcoin mining machines

• Bank of Jamaica completes first CBDC pilot

• Estonia to tighten regulation of virtual asset service providers

• Kosovar government halts crypto mining amid power crisis

• U.S. SEC appoints Corey Frayer as a new crypto-related policy adviser

• The number of countries banning crypto has doubled in three years

Global Crypto Policies (over the past 3 months)

*Ranking based on 2020 nominal GDP 

Sources: International Monetary Fund, World Economic Outlook Database, April 2021

G20's Regulatory Stance on Crypto

Source: WhiteSight

Worldwide Policies on Crypto Taxation

Data as of 13 Sep 2021

Sources: 3Commas; Decrypt; BusinessWord; Koinly

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