Library of Congress

Law Library of Congress

The Library of Congress > Law Library > News & Events > Global Legal Monitor

Singapore: Payment Services Act Passed, Regulating Cryptocurrency Dealing or Exchange Services

(Apr. 17, 2019) On January 14, 2019, the Parliament of Singapore passed the Payment Services Act, bringing cryptocurrency dealing or exchange services under the supervision of the Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator. (Payment Services Act 2019, No. 2 of 2019 (Jan. 14, 2019, assented to by the President […]

Hong Kong: Hong Kong Monetary Authority Issues Circular on Cryptoassets

(Apr. 4, 2019) On March 18, 2019, the Hong Kong Monetary Authority (HKMA) issued a circular endorsing a statement on cryptoassets made by the Basel Committee on Banking Supervision (BCBS). In the Circular, the HKMA asks banks planning to engage in activities relating to cryptoassets to discuss them with the HKMA and demonstrate that they […]

China: Measures Prohibiting Hiring Discrimination Against Women Issued

(Mar. 15, 2019) On February 21, 2019, China’s Ministry of Human Resources and Social Security (MOHRSS) published on its website the Circular on Further Regulating Recruitment Activities to Promote Equal Employment for Women. The Circular was jointly issued by the MOHRSS, the Ministry of Education, the Ministry of Justice, the Supreme People’s Court, and several […]

China: No Immediate Plan to Delete Family Planning from Laws

(Feb. 25, 2019) In a response to a suggestion raised by the National People’s Congress (NPC) delegates, China’s National Health Commission (NHC) states there is no plan to delete references to “family planning” from Chinese laws. The Response, dated September 25, 2018, was published on the NHC website on January 8, 2019. (NHC, Response to […]

China: Rules on Blockchain-Based Information Services Issued Requiring Authentication of Users’ Real Identities

(Feb. 12, 2019) On January 10, 2019, China’s cyberspace information regulator, the Cyberspace Administration of China (CAC), issued the Administrative Provisions on Blockchain Information Services, a set of rules governing blockchain-based information services. The Provisions will take effect on February 15, 2019. (Administrative Provisions on Blockchain Information Services (Jan. 10, 2019, effective Feb. 15, 2019) […]

Taiwan: New Cybersecurity Law Takes Effect

(Jan. 30, 2019) On December 5, 2018, Taiwan’s executive branch of government (Executive Yuan) decided that the Information and Communication Security Management Act (enacted by the President on June 6, 2018) would enter into force on January 1, 2019. (Xingzheng Yuan Ling [Executive Yuan Order], Yuan Tai Hu Zi No. 1070217128 (Dec. 5, 2018), 235 EXECUTIVE YUAN […]

Taiwan: Money Laundering Control Act Amended, Regulating Virtual Currency Platforms

(Jan. 22, 2019) On November 7, 2018, Taiwan’s Money Laundering Control Act was amended to strengthen the legal compliance requirements for the internal control and auditing of financial institutions and to include virtual currency platforms within the regulatory scope of the Act. (Money Laundering Control Act (enacted Oct. 23, 1996, last amended Nov. 7, 2018), […]

China: Criminal Procedure Law Amended to Allow Criminal Trials in Absentia in Corruption Cases

(Jan. 10, 2019) On October 26, 2018, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) passed an amendment to the PRC Criminal Procedure Law (CPL). Among other things, the new CPL allows criminal trials in absentia particularly in corruption and bribery cases in which the […]

China: Rules on Tax Deduction for Elderly Support Released

(Dec. 31, 2018) On December 22, 2018, the State Council of the People’s Republic of China (PRC or China) released the Interim Measures on Additional Special Deductions for Individual Income Taxes. The Measures, among other things, allow a taxpayer to deduct 24,000 Chinese yuan RMB (about US$3,500) per year from taxable income for the sake […]

China: Rail Passengers Refusing to Vacate Others’ Seats Punished by Administrative Detention

(Dec. 20, 2018) On December 3, 2018, two rail passengers in China were reportedly punished by administrative detention after refusing to vacate seats booked by others, which may be the harshest punishments handed out in cases of this kind in the country. (Mandy Zuo, China Gets Tough on Train ‘Seat Robbers’ Who Refuse to Move, […]