Library of Congress

Law Library of Congress

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

Italy: Legislation on Economic Growth Enters into Force

(June 12, 2019) On May 1, 2019, a new decree-law with several measures intended to encourage economic growth entered into force in Italy. (Decree-Law No. 34 of April 30, 2019, Urgent Measures for Economic Growth and for the Resolution of Crisis Situations), GAZZETTA UFFICIALE [G.U., OFFICIAL GAZETTE], Apr. 30, 2019, G.U. website (in Italian).) New […]

Italy: Legislation in the Event of Brexit Takes Effect

(May 21, 2019) On March 23, 2019, new legislation addressing the potential effects of Brexit entered into force in Italy. (Decree-Law No. 22 of March 25, 2019, Urgent Measures to Ensure Safety, Financial Stability and the Integrity of Markets as well as the Protection of the Health and Freedom of Residence of Italian Citizens and […]

Iceland: Icelandic Central Bank Publishes Amended Rules on Foreign Exchange

(Apr. 29, 2019) On April 2, 2019, the Central Bank of Iceland published an amended version of its rules on foreign exchange. The new provisions lift some, but not all, of the remaining restrictions on foreign exchange that have been in place since Iceland’s 2008 banking crisis. (Press Release, Central Bank of Iceland, Amended Rules […]

Brazil: Brazilian President Signs Acts Addressing Bureaucracy, Corruption, and Drug Policy

(Apr. 23, 2019) On April 11, 2019, Brazilian President Jair Bolsonaro signed 18 acts, including measures relating to corruption, modernization, bureaucracy, drug policy, and literacy policy. (Assinados 18 Atos para Modernizar e Desburocratizar o País, NOTÍCIAS, GOVERNO DO BRASIL (Apr. 12, 2019).) Five of the most significant of the acts signed by Bolsonaro are as […]

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 […]

Ukraine: Law Liberalizing Currency Regime Comes into Effect

(Feb. 15, 2019) Ukraine’s Law on Foreign Exchange and Foreign Exchange Transactions (Foreign Exchange Law) was adopted by the Verkhovna Rada (Ukrainian legislature) on June 24, 2018, and took effect on February 7, 2019. (Law on Currency and Currency Transactions (Foreign Exchange Law), June 24, 2018, No. 2473-VIII, GOLOS UKRAINI [VOICE OF UKRAINE] (official publication […]

Italy: Measures for Simplification of Companies and Public Administration Take Effect

(Feb. 5, 2019) On December 12, 2018, new measures to simplify public administration and promote the economy entered into force in Italy. (Decree-Law No. 135 of December 14, 2018, Urgent Provisions on Supporting and Simplifying Companies and Public Administration) (D.L. No. 135), GAZZETTA UFFICIALE (G.U.), Dec. 14, 2018, G.U. website (in Italian).) Support for Small […]

Mexico: Central Bank Challenges Pay Limits for Public Servants Law Before Supreme Court

(Jan. 23, 2019) In a press release issued on January 3, 2019, the Bank of Mexico (Mexico’s central bank) announced it was filing a constitutional suit before the Supreme Court of Justice of the Nation. The Bank is asking the Court to establish and delimit the scope of application of the Federal Law on Remuneration […]

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), […]