This week marked significant developments in blockchain policy globally, with regulatory advancements and strategic partnerships shaping the industry landscape.
Cryptocurrency Market Update (November 2018)
| Coin | Price (USD) | 7-Day Change |
|---|---|---|
| Bitcoin | $6,396 | -1.79% |
| Ethereum | $200.14 | -2.06% |
| Ripple | $0.4594 | -0.20% |
Data reflects market conditions as of November 2, 2018
Global Blockchain Developments
Regulatory Advancements
- New York approved Coinsource as its 12th licensed crypto firm, becoming the first state to regulate Bitcoin ATMs
- South Korea authorized traditional banks to provide services to compliant cryptocurrency exchanges
- Malta enacted three distributed ledger technology laws, establishing a comprehensive blockchain framework
👉 Discover how regulatory changes impact crypto adoption
National Cryptocurrency Initiatives
- Liberia proposed "Merit", a state-issued digital currency
- Peru announced development of "PeruCoin", a $10-value ERC20 token
- Brazil introduced detailed crypto tax reporting requirements
Asia-Pacific Policy Shifts
China Focus
- Central Bank report emphasized continued ICO crackdowns
- Yunnan Province announced plans for a blockchain industry pilot zone
- New policy research group formed under the Trusted Blockchain Promotion Plan
Japan & Hong Kong
- Japan excluded stablecoins from virtual currency classification
- Hong Kong revealed plans for crypto fund licensing through regulatory sandbox
FAQ: Blockchain Policy Questions Answered
Q: How does South Korea's bank approval affect crypto exchanges?
A: Compliant exchanges can now access banking services, improving legitimacy and operational capacity.
Q: What makes Malta's new laws significant?
A: They provide Europe's first complete DLT regulatory framework for licensing blockchain businesses.
Q: Why are stablecoins treated differently in Japan?
A: Their fiat-pegged nature places them under payment service regulations rather than crypto asset rules.
Q: What risks did China's report highlight?
A: Evolving ICO variations require ongoing monitoring to maintain financial stability.
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