The Indian government is reportedly launching a first-of-its-kind crypto awareness campaign. It will be conducted by the Investor Protection and Education Fund Authority, a government body controlled by the Ministry of Corporate Affairs. A government official was quoted by ET as saying: "The campaign will highlight that cryptocurrencies are not legal in India and there are also deep risks involved in such assets. Any investment where the people are being promised lucrative and assured returns, there is an element of high risk." (Bitcoin.com)

Kristalina Georgieva is the managing director of IMF and has been so since 2019. Ms Georgieva is the first Bulgarian to lead the IMF.

The California Department of Financial Protection and Innovation (DFPI) has fired off 17 separate warnings over two days against crypto brokers and websites it suspects of being fraudulent. The list includes Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Hekamenltd/Tosal Markets Limited, Trade 1960, Yong Ying Global Investment Company Limited, Unison FX, VoyanX.com, and ZC Exchange, to name a few. (Cointelegraph)

U.S. Congressman Warren Davidson has touted the self-custody of cryptocurrencies as the antidote to crypto exchange FTX’s fraud. He is pushing for his bill called “Keep Your Coins Act,” which aims to “protect self-custody from misguided attempts to restrict it.” He tweeted Wednesday: Self-custody is the antidote to FTX’s fraud and my Keep Your Coins Act would protect self-custody from misguided attempts to restrict it. ( Bitcoin.com)

Cryptocurrency regulation in Brazil is poised to become law at midnight local time. The bill, which was approved by the Chamber of Deputies two weeks ago, aims to regulate providers of virtual assets. If outgoing President Jair Bolsonaro doesn’t veto it by the end of the day, it will automatically become law. ( The Block)

A week after delivering his farewell address on the floor of the U.S. Senate, outgoing Pennsylvania Sen. Pat Toomey has quietly introduced another piece of cryptocurrency legislation. The Stablecoin TRUST Act—a backronym for Transparency of Reserves and Uniform Safe Transactions—would establish a federal regulatory framework for "payment stablecoins," and is designed to guide Congress towards a path of "sensible regulation of cryptocurrencies." The legislation is very similar to The TRUST Act that Toomey introduced in April, and is both the latest and likely last bill of several relating to digital assets that Sen. Toomey introduced or cosponsored in this last term. (Decrypt)

The Bank of Russia plans to test the use of cryptocurrency for international payments within the regulatory sandbox framework, First Deputy Chairperson of the Central Bank Olga Skorobogatova said in the State Duma (lower house) on Monday. "We currently plan to test using cryptocurrency for international payments, meaning for international economic activities, within the framework of the regulatory sandbox," she said. (tass)

The incoming chair of the House Financial Services Committee wants regulators to "modernize and streamline how innovators interact with regulators," and grant offices of innovation the power to create "regulatory sandboxes." Patrick McHenry of North Carolina, the lead Republican and soon-to-be chair of the House Financial Services Committee, has re-introduced his Financial Services Innovation Act for the third time. The re-introduction signals that he plans to advance the bill further when he becomes committee chairman in the next Congress. (TheBlock)

Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market participants said. Insurers were already reluctant to underwrite asset and directors and officers (D&O) protection policies for crypto companies because of scant market regulation and the volatile prices of Bitcoin and other cryptocurrencies. (Reuters)

The Nigerian government will reportedly soon pass a law that will recognize the usage of Bitcoin and other cryptocurrencies as a means to keep up to date with “global practices.” The news was reported by Nigerian-based masthead Punch Newspapers on Dec. 18 following an interview with House of Representatives Committee on Capital Markets chairman Babangida Ibrahim. (Cointelegraph)