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Government News

Government News

Led by people in various positions of power, governments create and enforce different laws and guidelines. Governments worldwide vary significantly in approach, procedures, laws, etc. With the advent of the internet and social media, government news is now readily accessible to the public online.

Government cryptocurrency overwatch has increased in the years since Bitcoinโ€™s launch in 2009. The European Union has taken a ground-breaking step by enacting regulations requiring crypto service providers to spot and suppress illegal cryptocurrency activity. Similarly, the Canadian government has established itself as a proactive regulator by authorizing the nationโ€™s first Bitcoin exchange-traded fund (ETF).

In contrast to Singaporeโ€™s policy of not taxing long-term capital gains, Japan has taken a progressive stance by recognizing cryptocurrencies as legal property under the Payment Services Act. However, China is a leader in developing its government-backed digital currency, the digital yuan (e-CNY), with numerous pilot projects underway. China has outlawed cryptocurrency exchanges, citing unlawful public financing.

Additionally, government news also throws some light on major economies like the EU, the United Kingdom and the United States that are actively developing and exploring their own central bank digital currency (CBDC) initiatives, while nations like the Bahamas and Nigeria have already implemented CBDCs.