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Category: Regulation

4

Blockchain Adoption Tracker

Kenya Proposes 3% Tax on Digital Assets

Kenya's Finance Ministry is proposing a 3% tax on cryptocurrency transfers and digital assets as part of its 2023-2024 budget plan, as other sources of funding are proving to be expensive or not accessible. This move is an attempt to increase revenue collection by the East African nation, which will see a 14% increase in revenue in the coming fiscal year if this proposal is accepted in June.

Regulation

Government

Taxation

By Elizabeth Morrison

Published:May 4, 2023

clock icon

1 min read

Interview

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Wendy Henry is the Global Practice Lead for Deloitte's Digital Assets and Cryptocurrency Consultancy; one of the firm's four business units dedicated to helping its business clients get the most out of distributed ledger technologies (DLT) including blockchain. Among her many very well-informed opinions about blockchain adoption is her advice to enterprises to not sit idly by while other entities—existing competitors, disruptive startups, regulators, and lawmakers—sort out their positions on blockchain.

DC Blockchain Summit

Government

Regulation

By David Berlind

Published:April 1, 2023

Interview

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

According to the Principal Leader of Deloitte's global Enterprise Trust Practice Michael Bondar, businesses are facing an unprecedented erosion of trust when it comes to their stakeholders (customers, employees, stockholders, etc.). The problem, according to Bondar, exists across the board and impacted businesses of all sizes in all industries. During this interview with Blockchain Journal editor-in-chief David Berlind, Bondar said that in healthcare, only 23 percent of clinicians trust their leadership and it's even worse for nurses (15 percent). In the technology space, only 40 percent of consumers trust tech companies to maintain and safeguard their data.

DC Blockchain Summit

Regulation

Government

By David Berlind

Published:April 1, 2023

Interview

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

While at DC Blockchain Summit 2023 in Washington, DC, Blockchain Journal editor-in-chief David Berlind got the chance to interview Open Dialogue Foundation President Lyudmyla Kozlovska about her organization's role in the battle for human rights and democracy in the 21st century. Kozlovska is a native of Ukraine and has been instrumental in the flow of cryptocurrency donations to fund the acquisition and supply of everything from humanitarian aid to weapons to the front lines of the many battles taking place between freedom and oppression. In fact, to the extent that a violent war undermines the store and transfer of fiat currencies, cryptocurrency has played a surprising and unique role in bankrolling Ukraine's fight against Russia.

DC Blockchain Summit

Regulation

Government

By David Berlind

Published:March 30, 2023

Interview

CFTC Commissioner Mersinger Invites Nervous Enterprises To Come Chat About Blockchain Regulations

When it comes to working with distributed ledgers and cryptocurrencies, one of the most significant barriers to enterprise adoption is the significant regulatory uncertainty that enshrouds the blockchain industry. This is especially true of the United States where lawmakers, regulators, and the industry have been gridlocked over a multitude of wildly opposing viewpoints. Meanwhile, as the regulatory perimeter shifts continue to shift, enterprises are stuck in a Catch-22; Either move forward with their blockchain pilots and run the risk of irritating officials at the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) or other American agencies. Or, risk disruption by putting their projects on hold until the legalities of working with blockchain are less ambiguous.

DC Blockchain Summit

Regulation

By David Berlind

Published:March 29, 2023

Primer

Business Professional’s Introduction To Understanding the Blockchain Regulatory Landscape

For enterprises and other businesses looking to leverage distributed ledger technology for competitive advantage, the regulatory uncertainty surrounding blockchain and cryptocurrency has turned hope of compliance into a moving target. By the time you’re done reading our multi-part series, you’ll be smarter than the average lobbyist.

Regulation

Government

Legal

By William Van Winkle

Published:January 4, 2023

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19 min read

Anti-Money Laundering (AML)

Anti-Money Laundering (AML) is a set of policies, regulations and laws to prevent concealing crimes that produce monetary gain. These crimes include tax evasion, drug and human trafficking, fraud, selling stolen goods, terrorism and corruption.The international AML watchdog, Financial Action Task Force (FATF), sets standards to prevent these illegal activities, and more than 200 countries and jurisdictions have committed to implementing them.In the US, laws have been implemented to combat money ...
RegulationLegal

Commodity

A commodity is a basic, fungible good used in commerce. Fungibility denotes that one unit of the commodity is equally exchangeable for another unit of the same commodity, such as one barrel of West Texas crude oil being equivalent to any other. Often, commodities are inputs for other goods or services, as when lumber becomes an input for homes.“Soft” commodities tend to be relevant in agriculture, where commodities are grown (e.g., soy beans, livestock, coffee and corn). “Hard” commodities are g...
RegulationLegal

Fiat Currency

Unlike other terms and phrases which are unique to the blockchain industry, fiat currency (aka “fiat” or “fiat money”) is a phrase more widely used across the financial industry (and even beyond) to refer to government-backed national currencies such as the US dollar or the British pound. Even so, the concept of fiat currency is deeply intertwined into multiple aspects of distributed ledger technology (DLT) and cryptocurrency usage. One of those aspects has to do with how individuals and organiz...
Total Cost of OwnershipRegulation

Fungible Token

Fungibility denotes that one unit of a commodity is equally exchangeable for another unit of the same commodity, such as one barrel of West Texas crude oil being equivalent to any other.Therefore, a fungible token is a physical currency or digital asset that is always equal in value and is mutually interchangeable with assets of the same type. For example, a Bitcoin is always valued the same as another Bitcoin.
RegulationLegal

Howey Test

In the context of potential government regulation of cryptocurrency and blockchain technology, the billion-dollar question (sometimes literally) about any cryptocurrency coin or token is whether it passes the Howey Test. Given the emerging state of US cryptocurrency regulation, the answer at the time this glossary entry was published has not been officially resolved for all coins and tokens. However, unofficially, the current answer is “it depends.” Regulatory uncertainty, both in the US and int...
Regulation

Security

There are multiple unrelated definitions for the term “security,” each of which is relevant to the blockchain industry. This glossary page is intended to disambiguate the term into its multiple contexts. Currently, the two disambiguations of the term “security” in the Blockchain Journal glossary are:Security (finance): This involves the definition of “security” as it applies to investment-related activities or the possible treatment of cryptocurrencies as securities. Security (protection): This ...
SecurityRegulationLegalComplianceExploits

Security (finance)

Securities are financial assets that have monetary value and can be bought, sold or traded. Types of securities include equity securities, debt securities, derivative securities and hybrid securities.Typically, an equity security represents some amount of ownership in a company, usually as stocks or shares. Equity securities can be preferred stock, common stock and convertible stock.A debt security represents a loan made by an investor to a borrower. Debt securities are typically issued by gover...
RegulationLegalCompliance
Kenya Proposes 3% Tax on Digital Assets
Kenya's Finance Ministry is proposing a 3% tax on cryptocurrency transfers and digital assets as part of its 2023-2024 budget plan, as other sources of funding are proving to be expensive or not acces...
RegulationGovernmentTaxation

By Elizabeth Morrison

Published:May 4, 2023

button icon

Interview

Deloitte: Businesses That "Sit on the Sidelines" While Others Pilot Blockchain Will Be Left Behind

Wendy Henry is the Global Practice Lead for Deloitte's Digital Assets and Cryptocurrency Consultancy; one of the firm's four business units dedicated to helping its business clients get the most out o...
DC Blockchain SummitGovernmentRegulation
By David BerlindPublished:April 1, 2023
button icon

Interview

Overall Trust in Businesses Is at Record Lows. Can Blockchain Help to Bring it Back?

According to the Principal Leader of Deloitte's global Enterprise Trust Practice Michael Bondar, businesses are facing an unprecedented erosion of trust when it comes to their stakeholders (customers,...
DC Blockchain SummitRegulationGovernment
By David BerlindPublished:April 1, 2023
button icon

Interview

How Cryptocurrency is Funding Ukraine's Battle for Itself and the Soul of Democracy

While at DC Blockchain Summit 2023 in Washington, DC, Blockchain Journal editor-in-chief David Berlind got the chance to interview Open Dialogue Foundation President Lyudmyla Kozlovska about her organ...
DC Blockchain SummitRegulationGovernment
By David BerlindPublished:March 30, 2023
button icon

Interview

CFTC Commissioner Mersinger Invites Nervous Enterprises To Come Chat About Blockchain Regulations

When it comes to working with distributed ledgers and cryptocurrencies, one of the most significant barriers to enterprise adoption is the significant regulatory uncertainty that enshrouds the blockch...
DC Blockchain SummitRegulation
By David BerlindPublished:March 29, 2023
setting iconRegulatory Action

Kenya Digital Asset Taxation

RegulationGovernmentTaxation
Project Owner :
National Treasury of Kenya

Circulor Battery Passport

Supply ChainESGMulti-Party TransparencyRegulation
Project Owner :
Circulor
setting iconRegulatory Action

Coinbase Global Inc. Coinbase Financial Markets (CFM)

RegulationCentralized Exchange (CEX)
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