ChainCatcher news, according to Cointelegraph, HAQQ Network co-founder Mohemed AlKaff AlHashmi stated that blockchain systems, with their high transparency, traceability, and community governance structure, are the best way to ensure that financial activities comply with Sharia law.He explained that financial activities such as lending, interest, and gambling are considered "haram" (forbidden) in Islam, while blockchain can verify whether transactions come from "halal" (permissible) sources.Additionally, the global Muslim population is about 2 billion, and many lack Sharia-compliant financial solutions. The Sharia financial market is expected to double in the next five years, currently valued at approximately $4 trillion. There are currently several Sharia-compliant cryptocurrency projects and platforms, such as HAQQ Network, Marhaba Network, and Bybit's Crypto Islamic account.

ChainCatcher news, the Central Bank of Russia has introduced regulations to manage foreign exchange operations involving digital rights. According to Russian law, digital rights include electronic records such as cryptocurrencies, tokenized securities, and digital tokens. These rights represent claims or obligations related to assets or services. The new decree will take effect on January 11 and outlines the obligations of residents engaged in such transactions, aiming to clarify and strengthen the oversight of digital assets used for trade and payment purposes.A key requirement outlined in the regulation is that foreign trade contracts involving digital rights settlements must be registered with authorized banks. The document states: "Foreign trade contracts, including those settled using digital rights, must be registered with authorized banks. The registration thresholds for these contracts remain unchanged: import contracts exceeding 3 million rubles and export contracts exceeding 10 million rubles."In addition to registration, the Central Bank of Russia also explained: "The regulation specifies the documents and information that residents must provide to banks, including transaction data related to the transfer or receipt of digital rights as a means of payment under foreign trade contracts, as well as data related to other foreign exchange operations involving digital rights."By defining these requirements, the Central Bank of Russia aims to integrate digital rights into the broader financial system while reducing the risks associated with their use.

ChainCatcher message, according to a notification shared by José Maria Macedo, co-founder of Delphi Labs, one of Portugal's largest banks, Investimentos Globais (BiG), has begun to block fiat transfers to crypto platforms. The notification states that this move is to comply with guidelines issued by the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal regarding the provision of digital asset risks. Furthermore, this decision is driven by the need to ensure compliance with the country's anti-money laundering and counter-terrorism financing laws.BiG reported that assets under management approached €7 billion in 2023, equivalent to about $7.2 billion.It is worth noting that this situation is currently an isolated case. A user commented on Macedo's publication that fiat transfers to crypto platforms can still be made using Portugal's largest bank, Caixa Geral de Depósitos.Macedo criticized BiG's actions, stating: "Cryptocurrency is inevitable, banks are being eliminated, and these abuses of power will only drive more people to transfer their wealth onto the chain."

ChainCatcher news, according to the official announcement, Nasdaq-listed mining company Bit Digital, Inc. has announced that it will officially transition to a domestic issuer status starting January 1, 2025, in accordance with U.S. securities regulations. It has now completed the transition from foreign private issuer status to domestic reporting issuer status.

ChainCatcher news, according to The Block, Tether's General Counsel has retired after the MiCA stablecoin regulations came into effect. Under the stricter regulations of MiCA that took effect at the end of last year, Michael Hilliard was responsible for legal matters concerning stablecoin issuers and exchanges.

ChainCatcher news, according to market news, the Internal Revenue Service (IRS) of the United States has announced that the enforcement date for cryptocurrency tax reporting rules will be postponed to December 31, 2025. This move aims to give cryptocurrency brokers more time to address legal and regulatory challenges and improve relevant accounting methods.

ChainCatcher news, according to The Block, U.S. Securities and Exchange Commission Chairman Gary Gensler has indicated that he will resign in January when Trump takes office, which may impact some regulatory rules in the process.The U.S. Securities and Exchange Commission previously formulated a rule that could circulate in the cryptocurrency industry, called "Regulation ATS," which reopened for public comment this April, aiming to expand the definition of exchanges and potentially requiring decentralized projects to register with the agency as alternative trading systems.However, DeFi Education Fund CEO Miller Whitehouse-Levine believes that if Gary Gensler does not adopt the ATS regulation before Trump takes office, it may not be confirmed in the same way in the future, "or they could scrap it altogether," but it depends on what the priorities of the U.S. Securities and Exchange Commission are.

ChainCatcher news, according to Cointelegraph, Turkey is set to launch new cryptocurrency regulatory legislation in the last week of 2024, inspired by the proactive regulatory developments in major jurisdictions around the world, including Europe.According to the published document, the new rules require users conducting transactions exceeding 15,000 Turkish Lira (approximately 425 USD) to provide their identity information to cryptocurrency service providers in the country.This new Anti-Money Laundering (AML) regulation aims to prevent money laundering and the financing of terrorism through cryptocurrency transactions, and it will come into effect on February 25, 2025.

ChainCatcher news, the Philippine Securities and Exchange Commission (SEC) has introduced comprehensive regulations for cryptocurrency asset management, covering disclosure, public offerings, trading, and marketing activities. These regulations aim to enhance investor protection and promote transparency in the burgeoning digital asset market.According to the new guidelines, cryptocurrency asset issuers must submit disclosure documents to the SEC at least 30 days prior to any marketing activities or public sales. This document must detail the provider of the cryptocurrency asset, the issuer, key features, risks, and underlying technology, as well as clearly state potential risks, including value loss and limited transferability.Cryptocurrency assets classified as securities must obtain a registration statement approved by the SEC before public offering. Entities issuing or trading cryptocurrency assets must comply with anti-money laundering (AML) laws and SEC reporting requirements. It emphasizes that non-compliance may result in fines, suspension, or revocation of licenses. (Crowdfund Insider)

ChainCatcher news, according to Hong Kong Wen Wei Po, mainland investors are restricted when bringing cash back to the mainland after cashing out virtual currency in Hong Kong. The customs regulations now state that each person can carry a maximum of 20,000 yuan each time. If bank transfers are involved, issues related to the source and use of funds must comply with national legal and regulatory policies. A virtual asset exchange store near Tsim Sha Tsui MTR station stated that customers need to provide identification if the amount exceeds 10,000 Hong Kong dollars, whether buying or cashing out.

ChainCatcher message, Google announced on December 20 that it will implement new cryptocurrency advertising regulations starting January 15, 2025, as part of its financial products policy update. Advertisers for cryptocurrency exchanges and wallet services targeting the UK market must obtain registration certification from the Financial Conduct Authority (FCA) and be certified by Google before they can run ads.The new regulations clearly differentiate the advertising requirements for software and hardware wallets. Specifically, hardware wallet ads are limited to providing private key storage functions for assets such as cryptocurrencies and NFTs, and must not include trading services. Google stated that it will issue a warning at least 7 days in advance before suspending accounts to ensure compliance from advertisers.

ChainCatcher news, according to Jinshi reports, former New York Fed Chairman Bill Dudley stated that if the Trump administration truly wants to support the emerging cryptocurrency industry, it should establish a set of laws and regulations to allow it to develop and operate safely. For example, ensuring that stablecoins are fully backed by Federal Reserve deposits or short-term Treasury bills. Legislation should define whether tokens are currencies or securities, and who will regulate them. Rules should be established to protect consumers and prohibit their use in criminal activities such as financing terrorism or illegal drug sales.Cryptographic technology has the potential to improve the financial system— for example, making it easier and cheaper for people to trade financial assets, or enabling immigrants to send money back to their families more easily. However, without strong safeguards, fraud and abuse will persist, undermining the trust needed to establish these benefits.

ChainCatcher news, according to OKG Research analysis, the FIT 21 bill, stablecoin-related legislation, and the repeal of the SAB 121 proposal are the three most likely and crucial crypto regulations to be introduced in the future.If the FIT 21 bill is passed, it is expected to promote the launch of spot ETFs for cryptocurrencies like SOL and XRP, and inject new momentum into the DeFi sector, especially through exemption policies and RWA integration. At the same time, the SEC may allow Ethereum spot ETF staking, which will attract attention to staking projects within the DeFi ecosystem.The market share of stablecoins in cross-border payments and settlements will continue to grow, expected to surpass traditional financial institutions like Visa. The repeal of the SAB 121 proposal will simplify the compliance burden for crypto custodians, attracting more banks and institutional investors into the crypto space.

ChainCatcher message, Binance announced that in order to comply with the new amendment to Taiwan's anti-money laundering law effective on November 30, 2024, all merchants in the New Taiwan Dollar (TWD) market, including cash merchants, who have not obtained P2Pro certification (approved by the Financial Supervisory Commission of Taiwan for anti-money laundering compliance) will have their advertisements removed from Binance P2P's TWD market on November 29, 2024. Affected merchants are prohibited from posting any advertisements related to the New Taiwan Dollar or providing services for buying and selling New Taiwan Dollars and virtual assets on the platform.Binance urges all affected merchants to raise awareness and plan ahead, applying for anti-money laundering registration with the FSC starting from November 30, 2024, and applying for P2Pro merchant status after obtaining approval.

ChainCatcher news, the Financial Supervisory Commission (FSC) of Taiwan will implement new anti-money laundering (AML) rules on November 30, a month earlier than initially planned, as the regulator accelerates its anti-fraud efforts.The new rules require crypto service providers, such as cryptocurrency exchanges, to complete AML compliance registration. Non-compliance may result in penalties, including up to two years of imprisonment and fines of up to 5 million New Taiwan Dollars (approximately 153,700 USD).In a statement on Wednesday, the FSC indicated that overseas "virtual asset service providers" (VASP) must establish a company or branch in accordance with Taiwanese company law and complete the necessary AML registration before conducting business in Taiwan. These new regulations were introduced following amendments to the law in July.

ChainCatcher news, according to Coindesk, the European Parliament approved the list of commissioners on Wednesday, which includes those responsible for overseeing digital asset regulation. Commissioners Stéphane Séjourné, Maria Luís Albuquerque, and Henna Virkkunen may bring cryptocurrencies under their jurisdiction.In September, European Parliament President Ursula Von der Leyen proposed a list of commissioners. Although cryptocurrencies are not the core topic of these positions, the committee will be responsible for ensuring the implementation of digital asset rules.Additionally, the EU's crypto assets market legislation MiCA will come into full effect at the end of December, so more work may be needed to ensure implementation.