Luxembourg parliamentarians approved the draft law governing the use of blockchain technology in the financial sector.
The new law should make the work of participants of the market more transparent, and the transfer of securities more efficient by reducing the number of intermediaries.
The law will give the transaction in the blockchain the same status and protection as transfers made through traditional means.
The Central Bank of Bahrain has released a cryptocurrency regulation, including new rules for exchanges and service providers.
The new rules relate to the licensing, management, risk management, measures to combat money laundering and the financing of terrorism, business conduct, conflict of interests, reporting and cybersecurity. The regulation also sets new standards of supervision and law enforcement.
Exchange licensed by the Central Bank of Bahrain, now will also have to comply with the guidelines relating to the matching of orders, transparency, market manipulation, and prevent market abuse, and conflicts of interest.
Wyoming has approved four bills related to the industry of the blockchain and cryptocurrency.
Projects affecting Depository institutions special purpose, commercial storage, corporate tokens-promotions and digital assets.
- A bill on the special Depository institutions. Involves the creation of institutions for servicing the blockchain-companies that do not have access to traditional banking services. However, these institutions will be prohibited to provide loans, and they should keep 100% of deposits in their reserves. They must also operate in accordance with Federal laws.
- The draft law on the system of commercial storage. In the framework of this project the Secretary of state is authorized to create a blockchain-supply system of commercial applications for recording and reporting of business entities, certain financial reports and other similar types of applications.
- A bill on corporate tokens promotions. Allows companies in Wyoming to produce “the tokens of the shares” on the blockchain, not stock certificates.
- The draft law on digital assets. In this project, the digital assets are classified by type (virtual digital currency or securities) and determine how each of them should be considered in the context of the existing financial laws. Banks Wyoming can also become custodians of digital assets in accordance with the terms of this bill.
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