Major New York news outlet, the Associated Press (AP) has announced that its latest version of The Associated Press Stylebook and Briefing on Media Law has a new section on cryptocurrencies. The 2019 AP Stylebook which was also announced for sale and additionally has entries on blockchain and Bitcoin, which provide definitions for the terms and explains how they are related.
The South Korean parliament will likely debate both bills in the coming weeks, although parties are unlikely to comment publicly on whether or not they will support either bill. Another glimmer of hope has appeared for South Korea’s crypto-community, with politicians set to debate a law that could open the door for conditional initial coin offerings (ICOs).
A digital asset management startup located in Los Angels, Arca is seeking Securities and Exchange Commission (SEC) approval to sell a new type of stablecoin to retail investors. In its document: “It is therefore anticipated that the underlying portfolio, and the NAV of Arca UST Coins, will have relatively little volatility. Although holders of Arca UST Coins could experience greater NAV volatility compared to typical stablecoins, such volatility will be relatively limited.”
A bill proposing the use of blockchain technology to store the government records and awarding cyber-security has been passed in the state of Colorado. The bill was put forth by the Senators Angela Williams and Kent Lambert and Representatives Joann Ginal and Robert Rankin. The bill coined that the use of blockchain tech could “transform improvements.”
The Delaware state senators have presented two bills covering the limited partnership companies and limited liability companies to embrace blockchain tech. The said technology could benefit the process of managing records and also for specific electronic transmissions. The two bills are SB182 and SB183 introduced under Chapter 17 and 18.
More lawyers are taking the initiative to learn the nature of cryptocurrency in solving divorce cases related to cryptocurrency owning. Increasing challenges arise from crypto ownership agreed by several lawyers with the reality of it can be hidden from their partner.
Standards relating to cryptocurrencies will be revised soon, by Financial Action Task Force (FATF), that is also responsible for setting global money laundering policies (AML). The ordered was given by all thirty-five countries and the European Commission.
The U.S. government is working on a ‘comprehensive strategy’ in respect of cryptocurrencies. Rob Jay Rosenstein, the deputy attorney general, has highlighted the formation of cybercrime task force established by the Justice Department. He emphasized that the task force foresees to develop strategies to curtail cybercrime. He also added that the major challenge is to obtain crypto educated federal officials.
Chairman of the Saudi Arabia’s Capital Market Authority, Mohammed ElKuwaiz said crypto regulations would come up soon. He said, “The regulators in Saudi have been following developments with cryptocurrencies with great interest.”
The South Korean government unveiled two sets of cryptocurrency legislations. The government exposed anti-money laundering guidelines for banks that provide support services to cryptocurrency exchanges. The legislation was prepared by the Korean Financial Intelligence Unit (FIU). It was also revealed that the ‘real-name system’ will be implemented from 30th January.