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No-deal Brexit: Italy introduces transitional measures

Italy has introduced measures to ensure financial stability and business continuity for UK financial institutions operating in Italy and Italian financial institutions operating in the UK in case of a "hard Brexit". Here, we review what these entail and what this means for organisations


The Lahore of cryptocurrencies: Pakistan issues rules for electronic money providers

The State Bank of Pakistan has issued Regulations for Electronic Money Institutions, a new framework that will regulate the use of cryptocurrency in Pakistan and remove entry barriers for non-banking entities

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Mauritius issues regulatory guidance on STOs

The Financial Services Commission of Mauritius has issued guidance on security token offerings, clarifying among other things that security tokens are classed as securities and that issuers of security tokens should get prior approval for their projects unless they are targeting certain types of investors

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US lawmakers urge IRS to issue crypto guidance

Twenty-one members of the US Congress have written to the US Internal Revenue Service, urging it to issue more robust guidance clarifying taxpayers’ obligations when using virtual currencies