This Week in Crypto Regulation: Week #23

June 2nd

Spain: Regulation of cryptocurrencies unclear after no-confidence vote

Spain passed legislation regarding the regulation of cryptocurrencies on the 30th of May. Just two days later Mariano Rajoy was forced out of office by no-confidence vote after corruption revelations became public, leaving unclear when and how Spain will proceed to regulate cryptocurrencies

June 4th

Indonesia allows cryptocurrency trade on the stock market

The Bappebti, Indonesia’s Future Exchange Supervisory Board of the trade ministry categorizes cryptocurrencies as commodities. As a consequence, trade of cryptocurrencies is now allowed at the Indonesian stock market.

USA: 

SEC, CFTC and Finra discuss crypto regulation in New York

At a panel organized by the New York City Bar association, an association for lawyers and law students, members and representatives of SEC, CFTC and Finra discussed the problems, possibilities and benefits of regulating digital money.

SEC created a new crypto regulation office

Valerie A. Scepanik is the first to take the office of the Senior Advisor for Digital Assets and Innovation at the SEC. He was also named Associate Director in Division of Corporation and Finance.

Official announcement

June 5th

Belgium: The Belgian government warns its citizens about investing in cryptocurrencies

The Belgian government informs and warns its citizens about frauds and data security regarding cryptocurrencies, ICOs and other services in the sector. The website is called “trop beau pour être vrai” – too good to be true.

June 7th

 USA:

Coinbase announces that it is going to become “a US-regulated blockchain securities trading venue.” According to them, “an important moment” for “the entire crypto ecosystem.”

Today we’re excited to announce that we’re on track to become a US-regulated blockchain securities trading venue. We believe this is an important moment not only for Coinbase, but the entire crypto ecosystem. https://t.co/3grNDa6l9Z

— Coinbase (@coinbase) June 6, 2018

John McAfee challenges SEC to a TV Duel.

Via Twitter, the founder of McAfee Associates challenged the SEC to a TV duel to debate whether Ethereum and other cryptocurrencies are securities. Jay Clayton, chairman of the SEC, declared on the 6th of June that Bitcoin is not a security, but other cryptocurrencies that hold ICOs are

I challenge the SEC to debate me on CNN. I debated the FBI two years ago when they they overstepped their bounds. You, the SEC, have overstepped your bounds. I ripped the FBI a new asshole on CNN. I welcome the opportunity to RIP the SEC a new asshole.https://t.co/PTxKEYsw1v

— John McAfee (@officialmcafee) June 7, 2018