Regulations

The Ransomware Task Force report warned an international effort would be needed to properly combat a growing ransomware threat.
Enforcing KYC, AML Laws Is Key to Reducing Ransomware Attacks: Task Force
Existing AML/KYC laws could reduce ransomware proliferation, but it would require an international effort.
The Ransomware Task Force report warned an international effort would be needed to properly combat a growing ransomware threat.

Eun Sung-soo, head of South Korea's Financial Services Commission, said all of the nation's crypto exchanges could be shut down by this fall.
South Korea's Top Financial Regulator Suggests All Crypto Exchanges Could Be Shut Down
Eun Sung-soo, head of South Korea's chief financial services regulator, said no crypto exchange had applied for its VASP license.
Eun Sung-soo, head of South Korea's Financial Services Commission, said all of the nation's crypto exchanges could be shut down by this fall.

South Korea's Office for Government Policy Coordination is planning a new enforcement action against illegal crypto activities.
South Korea Kicks Off New Crackdown on Illicit Crypto Activities
The government's "special enforcement period" stems from a new crypto-related law that took effect this year.
South Korea's Office for Government Policy Coordination is planning a new enforcement action against illegal crypto activities.

A safe harbor would give crypto startups some breathing room as they launched their projects.
State of Crypto: Unpacking Hester Peirce's Newest Safe Harbor Proposal
The revised Token Safe Harbor proposal defines what a successful project would look like.
A safe harbor would give crypto startups some breathing room as they launched their projects.

CipherTrace's new tool would let developers create an API call to monitor for transactions to sanctioned addresses.
CipherTrace Wants to Introduce DEXs to Sanctions Compliance
The new tool uses an oracle on Chainlink to spot crypto wallet addresses on government watchlists.
CipherTrace's new tool would let developers create an API call to monitor for transactions to sanctioned addresses.

Abkhazia is cracking down on crypto mining due to ongoing power shortages.
Abkhazia Bans Bitcoin Mining Shortly After Legalizing It
The troubled economy and extremely cheap electricity of Abkhazia attracted bitcoin mining, but now the government is cracking down.
Abkhazia is cracking down on crypto mining due to ongoing power shortages.

Seoul, South Korea
S. Korea’s Crypto Rules Might Only Help the ‘Big 4’ Exchanges
South Korea may not be planning to ban cryptocurrencies, but its regulatory regime may only favor the biggest incumbents.
Seoul, South Korea

(Hervé Cortinat/OECD, modified by CoinDesk)
State of Crypto: FATF's New Guidance Takes Aim at DeFi
The Financial Action Task Force addressed DeFi and NFTs in its new proposed draft guidance, but its new definitions might be extremely broad.
(Hervé Cortinat/OECD, modified by CoinDesk)

President Joe Biden should nominate a new head for the Office of the Comptroller of the Currency in the coming weeks.
State of Crypto: What’s Next for the OCC?
The OCC published a number of crypto-friendly pieces of guidance last year. The next head of this banking regulator could undo this work.
President Joe Biden should nominate a new head for the Office of the Comptroller of the Currency in the coming weeks.

A depiction of NYDFS Superintendent Linda Lacewell, commissioned as part of CoinDesk's Most Influential 2020 series.
State of Crypto: NYDFS Hackathon Is 'Testament' to Crypto's Growth
NYDFS held a two-week event with crypto industry participants to evaluate ways of upgrading its data collection tools and practices.
A depiction of NYDFS Superintendent Linda Lacewell, commissioned as part of CoinDesk's Most Influential 2020 series.