👀Sneak-Peek into the Crypto Market Regulation Overview and Prospects Report by Huobi 📈 🤫Part 3/4.
✅ Huobi Academy of Blockchain Application, the research arm of Huobi Pro, has just completed its H1 2018 Global Blockchain Industry Overview and Prospects report and it was astounding. The report consists of in-depth information about the crypto asset market, crypto market regulation, the Blockchain industry and technology. In this 4 part Sneak Peek I will highlight some of the information in the Report. This third part is about the cryptocurrency market regulation. Attendees of Blockchain Festival will have early access to the full report.
✅ In 2017 Blockchain technology and crypto assets really took off. The further into the year the more people were talking about Bitcoin, cryptocurrencies and Blockchain technology. With this gaining interest in the new emerging market came the start of implementing regulatory policies.
For the Global Blockchain Industry Overview and Prospects Report, Huobi did extensive research into the regulatory environment of the digital asset industry. They summarized the global regulation picture based on the 2016 GDP and related policies updated to mid-2018.
GDP: Gross Domestic Product
This is a great indicator to measure a countries economic status.
✅ Huobi Research discovered 3 important trends going into the future:
➡️ The US may be set as a regulatory example for other countries to follow
➡️ Centralized regulators and self-regulatory organizations will play important roles
➡️ Efforts to improve regulation systems by leading countries and regions will speed up the formation of global joint regulation among country unions
✅ For this report Huobi Research tracked the regulatory policies of major countries and regions in the world in regards to Blockchain and the cryptocurrency market. They used 4 levels to evaluate the regulations:
➡️ Are crypto assets permitted to be used as a payment tool?
➡️ Are crypto asset exchanges permitted to operate?
➡️ Is crypto asset crowdfunding permitted?
➡️ Are investments in crypto assets permitted?
On this evaluation the Supervision Strictness Index (SSI) is introduced. The SSI varies from 1 ⭐ to 4 ⭐. The more stars the tighter the tighter the policies and the more conservative and unacceptable their attitude toward crypto assets is and vice versa.
➡️ Singapore ⭐
No major policy changes, expect further friendly regulation.
The Monetary Authority of Singapore (MAS) on November 14, 2017 issued ‘’A Guide to Digital Token Offerings’’. This guide informed financial institutions that want to offer digital asset trading to its customers they have to obtain a license or get permission from the MAS.
In the same guide the MAS allows companies to hold a crowd sale, but they will be under supervision by the MAS. Singapore overall is very supportive of crypto asset investments. Investment returns on crypto assets are tax-free, however the Singaporean government from time-to-time issue warnings about the risks of trading crypto assets.
➡️ United Kingdom ⭐
The policies are unclear and no restrictions yet.
There are no relevant UK laws regarding crypto assets. Crypto assets in payment is allowed without restriction. Crypto-to-crypto trading is allowed in the United Kingdom, without the need of regulation and supervision. If exchanges want to involve fiat currency, futures or CFD’s, then they are obligated to apply for regulation and supervision. The Financial Conduct Authority (FCA) warns citizens to be careful when investing in crowd sales, but they do not prohibit it. There’s no restriction to investing in crypto assets in the United Kingdom and the investment income is not taxable yet.
➡️ South-Korea ⭐⭐⭐
South-Korea has strengthened its policies and focusses on being AML compliant. AML stands for Anti Money Laundering.
The country has no laws that gives a legal status to Bitcoin and cryptocurrencies, but it’s also not prohibited. Cryptocurrency exchanges can operate if they are compliant to the e-commerce law. In early 2018 Sout-Korean government announced it will impose a 22% corporate tax on crypto asset exchanges and a 2.2% local income tax.
Organizing and operating a crowdfunding in South-Korea is prohibited since the beginning of September 2017. South-Korea allows its inhabitants to invest in crypto assets. The country did however issue a couple of restrictions like no anonymous transactions and miners and foreigners are prohibited from trading digital assets.
Other countries in the report include The United States, Hong-Kong, Russia, Germany, Switzerland.
These are just a few highlights of the Global Blockchain Industry Developments Report by Huobi. If you’d like to have access to it before the masses, then you should visit Blockchain Festival in Vietnam, because attendees will be the first ones that get access to this report with lots of valuable insights.
✅ Hubery Yuan, Dean of Huobi Academy of Blockchain Application and Author of this Overview Report will be attending Blockchain Festival and will give a presentation as a VIP Speaker about the report. You will also have the opportunity to ask questions.
✅ On 24th — 25th May 2018 Blockchain Festival will be held in Ho Chi Minh City, Vietnam. Tickets can be purchased HERE. This Blockchain event, organized by Huobi Pro and co-hosted by Kyber Network, will feature world-class leaders, project founders, developers, tech-teams, investors, traders and other blockchain enthusiasts.
Speakers of Blockchain Festival are:
➡️ Roy Li, Founder and CEO of RuffChain (Microsoft accelerator project endorsed by NEO)
➡️ Val Yap, Founder and CEO of Policy Pal (Insurance on the Blockchain)
➡️ Vuong Quang Long, Founder and CEO of Tomochain (high-performance Blockchain)
➡️ Alex Tuan Co, CTO and Co-Founder of BigBom ECO (advertising disrupter in ICO stage)
➡️ Larry Liu, Founder of Genaro Network (decentralized storage network on the Blockchain)
➡️ James Ahn, CEO of Edenchain (Promising South-Korean Blockchain and Dapp platform)
Join Huobi Pro at their biggest event, Blockchain Festival Vietnam!
Date: 24–25 May 2018
Location: GEM Center, Vietnam, Ho Chi Minh City
Speakers: 30+ including 4 mystery speakers
Use Discount Code: WRITE50 to get 50% off your ticket price. This will reduce the original ticket price to around $35. Also VIP tickets available. Students and Professors can obtain free tickets to the event.
Maybe you can even earn back your ticket with the Airdrop to participants at the venue.
🔍 🧐 It’s in the form of a scavenger hunt.
Credits go to the Authors of the Global Blockchain Industry Overview and Prospects Report (2018 H1).
If you have any questions about the report 📧: firstname.lastname@example.org
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