Today we have inventory for the regulatory policies of several countries that have a large influence in the area of ??the encryption, and the insight is that the 2022 regulatory will change to the encrypted market ……
As of mid-February 202, the US encryption regulatory policy did not change, but from the implementation of the encrypted currency related policy in 2021, the supervision status tends to be severe. US Sec and CFTC repeatedly mentioned encrypted currency in its press releases, fines in the relevant industry were also more than $ 1.279 billion in 2021. The sanctions on the related industries are continuously increased.
The other side of strict supervision and aggravation is due to the implementation of the US judicial system, causing more than 70% of the encrypted currency related cases to end the finals, and did not truly involve criminal. SEC’s complaints in Ruibo have not substantial progress throughout 2021. In this regard, the US strict supervision and impact penalty policy cannot have a big impact on the global encrypted currency field.
Another US regulatory information is the tax bill of encryption assets. The Act, in April 2021, the US Congress submitted the “Infrastructure Investment and Employment Act”, requiring the US Taxation Bureau to investigate more than 10,000 US dollars. . Including miners, infrastructure and basic technology providers, trading platforms are included in the taxable object of the tax bill. But in June 2021, the bill was rejected, until the end of 2021, Biden repredited the bill. It is currently required to implement this bill in 2022, still requires the US Congress to further vote.
From the United States Coinbase to Bitcoin ETF to the traditional capital, the US regulatory policy has been trying to weaken the influence of encrypted currency, such as restricting ETF spot listing, all kinds of species did not have a great impact on encrypted monetary market. Encrypted currency is still rapidly integrated into traditional capital as a new financial situation and has become part of the US economic pattern.
2. South Korea
Recently, Lee Jae-Myung, who is about to participate in the Korean presidential election, tried to attract young voters through a series of policies that support encrypted currencies and discuss the establishment of an international encrypted currency center through a business strategy.
In fact, at the end of 2021, Li Yuming said in the event of “Youth Talk about Encrypted Assets” activity, “We need to create a basis for the release and circulation of virtual assets recognized by the world. This is a revolution, it is similar to creating one New currency. “
Another presidential candidate Yin Xi Yue promised “Creating a environment that allows encrypted asset investors to invest in.”
Two candidates as a competitor can be understood as support for encrypted currency investors in the encrypted currency attitude and commitment. The true purpose of the two candidates may include measures to “protect investors”, as well as policies designed to support emerging NFTs and dollar universe.
Currently, South Korea’s encrypted currency transaction profits is 20% tax, and South Korea’s encrypted currency investors seek to postpone the law or cancel the policy, so that encrypted currency transactions returns to point-to-point transactions.
The four major digital asset trading platforms of South Korea are also making policy loosening, but the candidates are still just a candidate. Whether it can be asked, and if the promise will be honored, it is still worried about Korea encrypted currency investors.
Singapore has already introduced a relatively friendly encrypted monetary regulatory policy. At present, there are currently a global large trading platform, including currency, and ribbon divisions, and project laboratories have also landed in Singapore. At the same time, Singapore sovereign funds GIC and related investment companies have been widely laid out in encrypted currency.
The Singapore Financial Regulatory Authority (MAS) has released the relevant regulations of “Digital Currency Distribution Guidelines” early in 2017, and the relevant regulations of the encrypted currency, the storage method, and the transaction method are related to the need to obtain the company. RMO license, and put Bitcoin and Etai Square as an electronic currency that pays the goods and its debt.
In 2020, MAS further refined supervision in the field of encryption, launched and entered the “Payment Service Act”, allowing Singapore to purchase and pay encrypted currencies, and provide a platform for exchanged encrypted currencies.
Although all encrypted monetary companies have not applied to the Singapore government to apply for licenses for encryption payment services, more than 20 related companies such as Paxos, Coinbase, and Genesis have obtained Singapore’s encrypted payment service exemption.
So far, Singapore’s securitative coin platform ISTOX has publicly listed and provides a series of secondary trading services. In 2022, we may see more market operators to join Singapore’s encrypted currency payment field.
Japan’s regulatory policies tend to be severe after the Mt.Gox platform is under the bankruptcy case. In 2016, Japan’s “funds settlement algorithm” will explicitly encrypt the currency is a settlement, payment, and recognizes its value. However, only the relevant services of the Encrypted currency in the Japanese financial hall.
In about 2017, Japan has issued a license to 16 encrypted currency trading platforms, but subsequently issued a license due to some of the fund safety issues, and rectifying the license, a fine and even shutdown. In 2021, Japan completed the registration of 31 encryption companies, including currency, encrypted currency companies, is banned in Japan to encrypt the currency service. For encrypted currency companies that have obtained relevant service qualifications, Japan’s “Clear Clear Algorithm” has also made a lot of restrictions, including all encrypted monetary service providers (trading platforms or wallet providers) must have equal amount of funds as encrypted assets. Fund protection, encrypted currency service providers who have not obtained transaction licenses will be prohibited from engaged in relevant business.
In 2022, the Japanese government has developed a detailed taxation mechanism in the relevant provisions of the encrypted currency investors, and individuals who have more than 20 million yen or salary income of more than 200,000 yen need to declare its encrypted currency trading profit. Income, the tax rate is 15% to 55%. This undoubtedly aggrams the burden of trader’s transaction costs, but from the compliance direction, Japan-related regulatory policies ensure the fund safety of traders to some extent.
The British Financial Conduct (FCA) began to supervise how to manage money laundering and anti-terrorism financing risks in 2020, and since this British encrypted asset enterprises must comply with the Wash Regulations (MLR) and register with FCA.
As of February 2022, more than 5 encrypted companies have received registration, and more than 80 encrypted companies are waiting for further regulatory audits in the temporary registration list. It is expected that more than 6 encrypted companies will have temporary operation permissions in March 2022.
If the encrypted company is not a temporary registration list, it is not allowed to open any encrypted business operations. The FCA has also announced the list of hundreds of unregistered encrypted enterprises in the official website, including the repeated warned currency.
In addition, in 2021, the British government won the comments of stabilization coins as payment methods. Unfortunately, this proposal did not be proposed, which means at least in 2022, the UK related encrypted monetary service supervision policies It will continue to be strict. Many of the regulatory policies of FCA will continue to restrict encrypted currency service providers around the electronic wallet, mobile payment, and global remittance.
Thailand’s regulatory system for encrypted currency is one of the most loose countries. The “Digital Asset Decree” promulgated in 2018 divides digital assets into encrypted currency (Digital token), encouraging technological innovation, supporting encrypted currency The development of the company.
The bill has made a detailed license license for the issuance, transaction and storage of encrypted currencies. As of 2022, Thailand has issued a trading platform license for 8 encrypted currency service providers. ICO licenses are issued to 4 encrypted currency issuers.
In the relevant provisions of the individual transaction encrypted currency, Thailand has developed relevant tax policies, 7% value-added tax and 15% return capital profits tax. The tax rate is lower than the British.
Of course, under the seemingly loose regulatory policy, Thailand is stricter to NFT, DEFI, Fantoken, and clearly prohibits such parties from circulating and transaction in China.
On February 8th, the Russian “Business News” reported that the Russian government and the central bank have reached an agreement on encrypted monetary supervision, and Russia regarded encrypted assets as a currency.
According to CCTV News, the Russian government has approved the national currency circulation supervision legislation concept. The relevant departments of the Russian government will strictly supervise the circulation of encrypted digital currencies in the country, and will further protect the rights of ordinary investors, the Russian Ministry of Finance and the central bank will formulate relevant bills before February 18.
This means that the policy of comprehensively banning the encrypted currency before Russia has been invalid. The comprehensive regulatory framework for the financial sector headed by the Russian Ministry of Finance is being formed, and the transaction of the encrypted currency will be guaranteed in Russia, and the relevant tax and management policies are not Will affect digital currencies in Russia, exchange and circulation.
According to the Russian media The Bell quoted the Russian government analysis report, Russia’s encrypted currency development is far super traditional finance, and its encrypted currency share accounts for 12% of the world’s total share, calculating the highest-time encrypted currency market in 2021, Russia encrypted currency The total amount exceeds 240 billion US dollars. After Russia has a more loosely encrypting the monetary regulatory framework, it will be available from the encrypted market from the encryption market to the taxation of Ruble (about $ 13 billion).
In addition, Russia National Duma is formulating relevant tax policies on encrypted miners, and there is news that Russia will charge at least 15% of taxes after the Encrypted Money Tax Framework is developed.
The true purpose of Russia is completely rolled out, whether it is deemed encrypted assets as a currency, or for encryption miners, the core foundation of its policy is actually a more critical “encryption currency development. Far super traditional finance. ” If the macro economy is seen, Russia has just experienced the EU, the United States restrictions on their resource exports. Affected by global energy prices and political environment, Russia GDP is $ 1.23 trillion in 2021, which is $ 460 billion more than $ 169.88 billion in 2019. The time economy is equivalent to 2 years but not only stagnation, even sharp down, and one-third of GDP “disappeared” in two years. Therefore, it is not difficult to guess that the current Russia itself needs more tax and financial vitality to boost the economy. Therefore, it is not difficult to understand why Russia breaks the policy route that has been prohibited from encrypting the currency, using more tolerable management, and the tax attempts to industrialize the encrypted monetary and specifications.
Russia may regard encrypted assets as a currency impact on digital asset markets that may be the basis of encrypted currency – miner. Although Russian Duma’s related tax policy developed by the encrypted mine can cause the encrypted monetary cost, it is also possible to complete the construction of large mines with strong energy support, and lay the foundation for the stable growth of the Digital Assets Market in 2022.
In the short term, Russia’s related favorable news will help the upward trend of the mainstream market, but this boost is difficult to predict the current extensive negative emotion of the market.
8. Other countries
Germany implements the “EU No. 4 Washing Directive Revised” government draft government draft government draft, at the same time, all encrypted managers for investors manage digital keys should accept the supervision of the German Federal Financial Supervision Bureau, and Coinbase is the first license. Business.
Salvador has already identified Bitcoin for its legal currency.
One of the amendments confirmed by the amendment to the encrypted currency of Bitcoin and other encrypted currencies, and will encrypt the currency trading platform, pay the handler and other encrypted currency companies in law. Accreditation is incorporated into monetary service business (MSB).
The Australian Securities and Investment Committee (ASIC) expressed its views on market opinions on a range of encrypted market supervision proposals. At present, Australia has no effective supervision of related business of encrypted currencies. The relevant regulatory policies are still unclear, and there is no regulatory status.
According to the data released in the 2021 Financial Action Special Working Group (FATF), 58 of the 128 jurisdictions in the world have implemented amended FATF standard, of which 52 jurisdiction supervisors the virtual asset service provider, 6 The operation of a virtual asset service provider is prohibited by a jurisdiction.
The multinational government warns to some encrypted currency trading platforms. The main reason is to provide derivative trading and not registered in the country.
At present, encrypted assets are playing an increasingly important role in the global financial market, and more and more countries are developing corresponding regulatory mechanisms, most countries based on anti-money laundering and anti-terrorism risks, it is possible to promote Further regulatory measures.
Encrypting assets token’s transaction, distribution mechanism, and encrypted currency trading platforms have gradually replaced traditional financial securities.
With the rapid development of new things such as DEFI, NFT, the impact of environmentally friendly markets facing the global countries and regions is also more complex, and the supervision and development of encrypted currencies will test the governments of governments.