GM Brew Crew, for those of you from the United States, we remember the tragic events that happened on this day 22 years ago. The Brew Crew’s thoughts and prayers are with you all. 🙏

Let's dive in ⬇️

On the menu today:

• 👀 INDIA WORKING ON MAJOR CRYPTO LEGISLATION

• 🗳️ COINBASE FOUNDER ON CRYPTO’S ROLE IN UPCOMING ELECTION

• 🚨 ETHEREUM FOUNDER’S TWITTER HACKED

Today’s Charts:

👀 INDIA WORKING ON MAJOR CRYPTO LEGISLATION

India is actively developing a comprehensive regulatory framework for cryptocurrencies based on joint recommendations from the International Monetary Fund (IMF) and the Financial Stability Board (FSB).

The Indian government wants to work with other countries to regulate crypto instead of banning it completely, following recommendations from the IMF-FSB.

India’s Five-Point Regulatory Framework:

1. Advanced KYC for Crypto Companies: Implementing robust Know Your Customer (KYC) procedures for crypto firms

2. Real-Time Proof-of-Reserve Audits: Requiring crypto platforms to regularly disclose proof-of-reserve audits to regulatory authorities

3. Uniform Taxation Policy: Establishing a consistent taxation policy for cryptocurrencies across the nation

4. Similar Status to Banks: Granting crypto exchanges a status similar to authorized dealers, under the guidelines of the Reserve Bank of India

5. Mandatory Compliance Positions: Enforcing key compliance roles, such as a Money Laundering Reporting Officer, within crypto platforms

A global approach to crypto regulation is not just wanted, but it’s needed for mass adoption to take place. The conversations are beginning to happen. ⬇️

🗳️ COINBASE FOUNDER ON CRYPTO’S ROLE IN UPCOMING ELECTION