Led by people in various positions of power, governments create and enforce different laws and guidelines. Governments worldwide vary significantly in approach, procedures, laws, etc. With the advent of the internet and social media, government news is now readily accessible to the public online.
Government cryptocurrency overwatch has increased in the years since Bitcoin’s launch in 2009. The European Union has taken a ground-breaking step by enacting regulations requiring crypto service providers to spot and suppress illegal cryptocurrency activity. Similarly, the Canadian government has established itself as a proactive regulator by authorizing the nation’s first Bitcoin exchange-traded fund (ETF).
In contrast to Singapore’s policy of not taxing long-term capital gains, Japan has taken a progressive stance by recognizing cryptocurrencies as legal property under the Payment Services Act. However, China is a leader in developing its government-backed digital currency, the digital yuan (e-CNY), with numerous pilot projects underway. China has outlawed cryptocurrency exchanges, citing unlawful public financing.
Additionally, government news also throws some light on major economies like the EU, the United Kingdom and the United States that are actively developing and exploring their own central bank digital currency (CBDC) initiatives, while nations like the Bahamas and Nigeria have already implemented CBDCs.
Kenya’s proposed 1.5% crypto transaction tax could disrupt Africa’s digital integration. As Kenya advances a 1.5% tax on every crypto transaction, the nation risks undermining its fintech leadership, driving startups and talent abroad.
Digital asset industry advocates supported congressional candidates in Florida’s special elections in April, and now New Jersey prepares to elect its next governor.
Bitcoin-friendly European Parliament Member Sarah Knafo says Europe is still at the beginning of the digital revolution, which will help it compete with economies like China and the US.
The bill has seen contention online, but Satoshi Action Fund’s Eric Peterson says it updates the state’s unclaimed property laws so crypto doesn’t get liquidated.
Roughly four months since his nomination and amid announced departures at the CFTC, Brian Quintenz’s nomination to head the financial regulator is moving forward.
Bitcoin price eyes a breakout as a weakening dollar, US debt concerns, and gold limits shift investor focus.
The California State Assembly passed a bill that would allow state agencies to accept crypto for payment in a unanimous 68-0 vote, which will now head to the Senate.
Bitcoin may be decentralized, but its price isn’t immune to the influence of whales, protocol upgrades, ETF approvals and global regulations.
Traders are maximizing short-term profit strategies as the long-term economic outlook becomes increasingly unclear, Arrash Yasavolian said.
Thailand’s SEC has ordered Bybit, 1000X, CoinEx, OKX and XT.COM blocked nationwide, citing unlicensed operation and money-laundering concerns.
President Kassym-Jomart Tokayev announced plans to build “CryptoCity,” aiming to establish a regulatory sandbox for digital assets.
The Genius Act could boost the US dollar's dominance in Web3 by enforcing 1:1 stablecoin backing and compliance, according to a Foresight Ventures report.
India’s central bank is scaling up its digital rupee pilots with new features like programmability and offline payments, aiming for broader financial inclusion.
Eric Adams wants to repeal New York’s BitLicense, which the state launched in 2015 and has been criticised by the crypto industry for being too costly.
The move represents a significant shift from the Pakistani government's earlier position that cryptocurrencies would never be legalized.
