Technology company CUBE has published a report on the activity of regulators around the world. According to analysts, regulator activity has grown by 7,436% since 2018.
For the period from January to May, 4666 regulations were adopted regulating the activities of the cryptosphere. For the whole of last year, there were only 9,872.
Here are the highlights of 2022 regulatory highlights:
The European Union will introduce mandatory AML verification for users of NFT platforms. This decision was made by members of the European Parliament. The rules are the same for everyone, including for DAO and DeFi.
The EU is also introducing new rules for issuers of stablecoins. They now need to hold more reserves and also report transactions over €1,000. The Crypto Asset Markets Act (MiCA) will come into effect in 2024.
Tencent Holdings, Baidu, JD.com, and Alibaba's fintech affiliate (Ant Group) are introducing KYC verification for NFT buyers.
In India, from April 1, there is a tax on income from cryptocurrencies. Half of the traders left the market. Exchanges are complaining about the outflow of customers and a decrease in trading volumes.
Russia has banned the use of cryptocurrency as a means of payment. For the rest of the regulation, the country has not yet decided.
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