Key Takeaways

• Last Thursday, the EU parliament voted in favour of imposing KYC on unhosted crypto wallets, despite industry criticism and privacy concerns. The new legislation, which essentially prohibits anonymous crypto transactions, would require crypto service providers to collect user information for even the smallest transactions.

• Rising concerns about stablecoin security have prompted U.S. lawmakers to introduce the ‘Stablecoin Transparency Act’,  a bill that would require stablecoins to be “backed by government securities with maturities less than 12 months or U.S. dollars” and have issuers publicly release audited reports of their reserves.

• On Tuesday, the U.K. government announced plans to turn the nation into a ‘global crypto asset technology hub’. The moves include making stablecoins a recognised form of payment, exploring ways of making the U.K. tax system more competitive, and working with the Royal Mint to create a non-fungible token (NFT).

• Indonesia is set to start charging a value-added tax (VAT) of 0.1% on both crypto transactions and capital gains, starting on 1 May. 

Highlights

• U.S. introduces companion bill to 'mitigate risks' from El Salvador’s Bitcoin Law

• U.S. companies must disclose customer crypto holdings, says SEC

• ECB official suggests importance of physical stores accepting digital euro

• China's digital yuan trial expands to 11 more cities

• EU consults on CBDC legislative issues

• Lawmakers want unregulated crypto firms out of the EU

• Bank of Japan official calls for G7 nations to adopt common crypto regulations

• South Korean banks seek green light on crypto

• Aussie crypto influencers face tough new legal restrictions

• Germany shuts down Russian darknet marketplace Hydra seizing Bitcoins worth $25M

• U.S. authorities seize $34M in one of the country's largest confiscations of crypto

• Singapore crypto firms operating abroad must now be licensed under new law

• Thai SEC sets new rules asking digital asset operators to submit trading data reports

G20’s Latest Crypto Policies

G20's Regulatory Heatmap

G20’s Crypto Taxation

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