Laws move slower than markets. But they hit harder. This is issue #93 of The Bitcoin Act: your Tuesday and Sunday briefing on the legal and regulatory moves that actually shape Bitcoin.

Now for today’s top stories:

🏧 Albuquerque Bans Bitcoin ATMs
Albuquerque’s kiosk ban took effect October 21; machines must be removed by December 5.

🏦 OCC Courts Community Bank Stablecoins
The OCC, the national bank regulator, urged community banks to apply as stablecoin issuers.

🏛️ Michigan Kiosk Ban Nears Vote
Michigan SB 980, which would ban kiosks statewide, cleared a Senate committee.

Albuquerque’s Virtual Currency Ordinance (O-26-49), a city law, took effect October 21. It bans all virtual currency ATMs and cashier-assisted purchases. Machines must go dark now and be removed by December 5. Violators face $500 daily fines and license loss.

Owning, mining and self-custody are outside the ordinance’s scope. The city says residents can still hold Bitcoin and send it through online exchanges and personal wallets. What the ban removes is buying with cash at a kiosk or store counter.

City of Albuquerque

On October 26, the OCC, the national bank regulator, urged community banks to become licensed issuers of payment stablecoins (dollar-pegged tokens) under the GENIUS Act. Its final rule came October 21; the law takes effect January 18, 2027.

This is about bank-issued digital dollars, not Bitcoin. Expect them to arrive with the same identity checks (KYC, know-your-customer) as your checking account. The rule covers stablecoin issuers and bank custody, not Bitcoin in your own wallet.

Cointelegraph

Michigan Senate Bill 980, which would ban installing or operating any cryptocurrency kiosk statewide, cleared committee and, on October 27, was sent to the Committee of the Whole, where the full Senate can debate and amend it. It still needs a Senate vote, House approval and the governor’s signature.

Anyone who lets a kiosk run on property they own or lease could also be fined. A first violation costs $2,000 to $5,000, and repeat violations cost $5,000 to $10,000. These are civil fines, not criminal charges.

LegiScan

🇦🇪 Bybit Gets Dubai License
Bybit’s Dubai entity, Bybit Fintech FZE, received a full license from VARA, Dubai’s virtual asset regulator, covering spot trading. Derivatives are excluded. Launch awaits VARA’s operational requirements; no date given.

🇰🇷 Korea Eyes Fourth Delay
South Korea’s presidential office is considering delaying its 22% tax on Bitcoin gains from January 2027 to 2029. No decision has been made. Officials want US trading data first, which the US will only share from 2029.

🇨🇦 Canada Drafts Stablecoin Rules
Canada opened a consultation, until December 23, on draft Stablecoin Act rules. Non-bank issuers would register with the Bank of Canada and pay no yield. The government aims to apply the rules in fall 2027.

🇷🇺 Digital Ruble Hits 270,000
Bank of Russia Governor Elvira Nabiullina said 270,000 digital ruble accounts opened since the September 1 launch. The central bank gave no current usage figures. Every transaction is recorded on its ledger.

🇮🇱 Netanyahu Floats Sanctions Workaround
Ahead of Israel’s October 27 election, Prime Minister Benjamin Netanyahu said he asked for a plan to use cryptocurrency to bypass possible banking sanctions. The Bank of Israel replied that crypto cannot bypass sanctions.

🇬🇧 FCA Updates Crime Guide
The UK’s Financial Conduct Authority is consulting on updates to its Financial Crime Guide, which sets anti-fraud and anti-money-laundering expectations for firms. The update prepares Bitcoin firms for the UK’s new regime starting October 2027.

🏙️ Robinhood Licensed in Dubai
Robinhood received approval from the Dubai Financial Services Authority to offer trading and hold client assets, including Bitcoin, stocks and ETFs, from Dubai’s DIFC financial zone. It plans to launch in 2027.

🌏 Malaysia, Thailand Join BLOOM
On October 23, the central banks of Malaysia and Thailand joined BLOOM, a Singapore-led initiative on cross-border payments in stablecoins and tokenized bank deposits. Participants include Visa, Mastercard and the World Bank.

🏦 UK Bank Transfer Complaints
UK bank customers filed 10,092 complaints between May and August over blocked or capped transfers to crypto platforms, according to advocacy group Stand With Crypto. Its report lists six banks as banning such transfers outright.

🇫🇷 France Moves to Tax Swaps
France’s National Assembly voted 38 to 37 to tax Bitcoin-to-stablecoin swaps at the 31.4% capital gains rate from January 2027. Today, tax applies only when Bitcoin is sold for cash or spent. It is not law yet.

Every week I answer one real question about Bitcoin law, regulation, or policy that affects your life as a stacker. No fluff. Just signal.

This week: Can the US government ban Bitcoin ownership?

The United States has banned private ownership of a monetary asset before, most famously gold in 1933. The legal tools that made that possible look very different today.

Got a legal or regulatory question you want answered next Tuesday? Hit reply and send it.

📊 Pro-crypto Sen. Bill Hagerty wins Tennessee’s Senate race — 96% Polymarket

📊 Federal capital gains taxes will be cut by 2026? — 6% Polymarket

📊 Trump pardons Samourai Wallet co-founder Keonne Rodriguez before 2027 — 8% Polymarket

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