News list for " amendment"
On June 19, 2024, the Securities Supervision Commission issued the "Eight Measures on Deepening the Reform of the Science and Technology Innovation Board to Serve Scientific and Technological Innovation and the Development of New Quality Productive Forces", which proposed to carry out the pilot program of deepening the issuance and underwriting system. In the pilot program of the Science and Technology Innovation Board, the offline investment institutions with a higher lock-up ratio and a longer...
The newly revised "Anti-Money Laundering Law of the People's Republic of China" will come into force on January 1, 2025. Ying Yong, Secretary of the Supreme People's Procuratorate Party Group and Prosecutor General, stressed that it is necessary to coordinate and strengthen the fight against money laundering crimes, accurately grasp the provisions of the revised Anti-Money Laundering Law on improving the scope of predicate crimes of money laundering, implement the Anti-Money Laundering Law and t...
The Pakistani government's proposal to amend the SBP Act, or herald its attempt to legalize cryptocurrencies, marks a shift in the country's financial policy. The amendment will allow the Central Bank of Pakistan (SBP) to issue digital currencies and manage the country's currency in both physical and digital forms, in addition to granting the SBP the authority to conduct CBDC operations,...
On November 1st, the Ministry of Commerce, the China Securities Supervision Commission, the State-owned Assets Supervision and Administration Commission of the State Council, the State Administration of Taxation, the State Administration of Market Regulation, and the State Administration of Foreign Exchange revised and issued the "Measures for the Administration of Strategic Investment by Foreign Investors in Listed Companies". The revised "Measures" relax the asset requirements of foreign inves...
The police in the Australian state of Victoria have successfully seized $142,679 worth of cryptocurrency for the first time after a recent law amendment allowed police to take control of digital assets. The Victorian Police Service released its Annual Report 2023-2024 on October 31, highlighting the recent "new powers" authorised following the addition of "Section 92A Seizure of Digital Assets on Search Warrants" to the Confiscation Act 1997. Effective August 1, 2023, the law change authorises V...
South Korea's Financial Services Commission (FSC) is actively pushing for amendments to the law to critically scrutinize major shareholders and governance of crypto exchanges. Currently, the FSC lacks the statutory authority to scrutinize shareholders under existing laws, including the Virtual Asset User Protection Act. In a parliamentary audit, FSC Chairperson Kim Byoung-hwan said that amendments to the Act on Reporting and Use of Specific Financial Transaction Information have been submitted t...
Amendments to the United Arab Emirates' Value Added Tax (VAT) regulations will exempt the transfer and conversion of virtual assets, including cryptocurrencies. PwC said the new regulations include VAT exemptions for additional services, including managing investment funds and transferring and converting virtual assets.
On September 25th, Japan's Financial Services Agency discussed providing enterprises with a more convenient mechanism for processing cryptoassets (virtual currencies) at a panel meeting on the revision of its fund settlement law. Participants believed that reducing the burden on enterprises will promote the participation of large domestic gaming companies and promote the research and development of related blockchain ecosystems. The meeting also mentioned that with the expansion of the virtual c...
On September 25th, according to the official website of the US Congress, on September 23rd local time, there was another progress in the legislation of the US Biosafety Act. In the latest amendment, WuXi Biologics has been removed, but WuXi AppTec, BGI, BGI and its subsidiary Complete Genomics are still listed. At the same time, the plan is to be renamed the "Prohibition of Foreign Access to US Genetic Information Act", and will further focus on human data-related business. For the aforementione...
In a footnote to its amended complaint against Binance, the SEC said that when the term "crypto-asset securities" is referred to, it does not refer to the crypto assets themselves, but to the set of contracts, expectations and understandings by which those assets are sold. In fact, the SEC only uses the term as a "shorthand". The SEC also claims that it has always held this position, and mentions that a similar post script was also used in the case against Telegram. However, to clarify matters, ...
Singapore's parliament has passed amendments to the Casino Regulation Act aimed at further enhancing the effectiveness of the country's casino regulatory regime and its safeguards for disadvantaged groups. The amendments make some significant changes to Singapore's casino regulatory framework. The GRA will be given more powers to regulate more forms of gambling within casinos, including betting and lotteries. This will prevent the regulatory regime from becoming obsolete due to new products that...
DMM Group and Progmat announced the launch of a joint study on the issuance of stablecoins that comply with the amended capital settlement law, and plan to use the stablecoin in the digital economy circle "Seamoon Protocol" conceived by DMM Group to promote the expansion of the token economy circle and the increase in the value of SMP. The utilization plan of stablecoins is divided into three phases, including price stabilization, economic circle development, and expanded use cases. It is expect...
The full text of the newly revised "Regulations on Promoting the Construction of an International Financial Center in Shanghai" has been released, which states that the Shanghai Municipal People's Government should cooperate with the central financial management department to steadily promote the development and application of digital RMB in this city, build functional platforms such as digital RMB innovation and operation centers, facilitate the cross-border use of digital RMB, study applicatio...
The US Treasury plans to amend the Bank Secrecy Act to include cryptocurrencies in the definition of "currency" and implement new reporting requirements. The measure aims to bring cryptocurrencies under the same reporting rules as traditional fiat currencies to enhance financial transparency. The final rule is expected to be published in September 2025. The revised rules will cover convertible virtual currencies and digital assets with fiat currency status, including central bank digital currenc...
Indonesian official: The Indonesian Ministry of Trade plans to amend the domestic market obligation rules for palm oil.
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