Here’s a roundup of what you need to know from the last week in global crypto regulatory news.
🌎 Americas
🇺🇸 United States
President-elect Trump appoints AI and crypto czar. President-elect Donald Trump has named David Sacks, a venture capitalist and former PayPal executive, as the White House’s artificial intelligence and cryptocurrency czar. Sacks is expected to lead the administration’s policies on AI and digital assets, signaling a proactive approach to emerging technologies.
President-elect Trump shifts SEC leadership. President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner and advocate for digital assets, to replace Gary Gensler as SEC chair. Atkins is expected to bring a more crypto-friendly approach to regulation.
🌍 EMEA
🇬🇧 United Kingdom
FCA unveils crypto regulation roadmap. The Financial Conduct Authority (FCA) released a detailed plan for comprehensive crypto regulations by 2026. Findings show over 12% of U.K. adults hold crypto, emphasizing the need for clear regulatory frameworks.
🇪🇺 European Union
EBA publishes explainer on AML/CFT in crypto. The European Banking Authority (EBA) released a comprehensive explainer on preventing money laundering and terrorism financing in the EU’s crypto-assets sector. The document highlights key requirements under MiCA and the latest AMLD amendments, including the implications of the grandfathering clause. This resource offers essential insights into the EBA’s efforts to align crypto compliance with EU standards.
💡Go deeper with our recent article on debunking the myth of the Grandfathering Clause for the European Travel Rule.
🇲🇦 Morocco
Morocco drafts crypto regulations. Bank Al-Maghrib introduced regulations developed with World Bank support, focusing on financial inclusion and long-term CBDC exploration.
🌏 APAC
🇹🇼 Taiwan
Taiwan accelerates AML compliance for VASPs. The Financial Supervisory Commission (FSC) moved the AML registration deadline for Virtual Asset Service Providers (VASPs) to November 30, 2024. Updated guidelines include tracking suspicious activities and unusual transactions.
🌐 Global Highlights
Global Blockchain Business Council (GBBC)
GBBC launches GSMI 5.0, mapping blockchain regulation. The latest edition of GSMI 5.0 features global regulatory developments, taxonomy for 391 key terms, and in-depth reports on sustainability, AI convergence, and decentralized finance.
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