Recent DLT News Review: Crypto Regulations in the EU, the Philippines and Iran

The Philippines plans to establish new crypto rules, the EU discusses ICO framework and hackers attack crypto wallets – these and other pieces of news are presented in the digest.

The EU Authorities Have Discussed a New Standard for ICOs

The European Parliament’s members have discussed the proposal to establish new ICOs regulations during a meeting on Tuesday.

The All-Party Innovation Group has examined potential advantages of suggested rules that, if approved, would become part of the general crowdfunding framework.

The author of the proposal, Ashley Fox, has suggested setting a maximum standard for investments – 8 million EUR, and proposed paying more attention to KYC and AML rules following.

Amendments to the proposal will be submitted by September 11, leading to the continuation of the discussion.

The Philippines to Issue Crypto Regulatory Bills in September

The Securities and Exchange Commission of Philippines (SEC) has announced that new bills for cryptocurrency regulation will be issued by the end of September.

According to the new rules, crypto exchanges are to be treated as traditional trading platforms.

The regulations have been developed together with the Central Bank (BSP). Experts have been following the example of Australia and Switzerland.

Attackers Used Trojaned MEGA's Chrome Extension to Steal Crypto

The file hosting service MEGA announced that the attack aimed at cryptocurrency stealing has taken place on September 4. The official version of the MEGA's Chrome extension was changed to the trojaned one.

The hackers’ version asks for elevated permissions after installation, however, the real extension doesn’t require it.

According to MEGA’s representatives, the attack has been stopped in 4 hours. However, the hackers could have got access to such crypto wallets as MyEtherWallet and MyMonero, and to coins stored at the IDEX exchange.

Iran’s Authorities Treat Crypto Mining as a Different Industry

The Secretary of Iran's Supreme Council of Cyberspace has announced that crypto mining is considered to be a separate industry in the country.

The decision is taken together with the country’s Ministries and Central Bank. The regulatory framework for mining is not determined yet, however, authorities plan to work on its development.

The National Cyberspace Center will announce the rules for blockchain-based startups creation and crypto trading by the end of September.

Keep an eye on the latest changes and follow the Blockchain & Bitcoin Conference Switzerland.