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Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments
18.4.2022
Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict...
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
17.4.2022
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this new test will include a fixed supply of...
Colombian Money Laundering Watchdog Postpones Crypto Transaction Reporting Resolution
5.4.2022
The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will now open a consulting period in which companies and individuals can present their thoughts...
Crypto Industry Mobilizes Against Proposed EU Transparency Rules
31.3.2022
Biden Administration Lowballs Inflation Predictions, Report Says Americans Are ‘Fixated’ on Dollar Value
29.3.2022
As inflation continues to wreak havoc on American wallets, the U.S. dollar’s lack of purchasing power has been affecting nearly every U.S. resident’s spending decisions. On Monday, U.S. president Biden and his administration predicted lower inflation forecasts as officials announced...
US Proposed Unrealized Gains Tax May Become 'Penalty for Being Successful' in Crypto
29.3.2022
The proposed 20% tax on unrealized gains put forward by the US Department of Treasury’s 2023 Revenue Proposal could potentially become a “penalty for being successful,” according to Shehan Chandrasekera, Head of Tax Strategy at crypto tax software specialist CoinTracker....
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Indian Parliament Member Asks Government to Tax Crypto Income More Than 30%
29.3.2022
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto....
Malaysia Will Not Adopt Bitcoin as Legal Tender, Government Says
26.3.2022
Malaysia’s deputy finance minister has clarified that the government will not adopt cryptocurrency as legal tender. “Cryptocurrencies like bitcoin are not suitable for use as a payment instrument due to various limitations,” he said. Bitcoin Will Not Be Legal Tender...
Mining Industry Not That Worried by SEC’s Proposed New Climate Reporting Rules
23.3.2022
The CEO of public miner Marathon Digital says he welcomes the new rules for the transparency and incentives to use renewable energy they would introduce
India’s Crypto Industry Fears Proposed Tax Rules Will Increase ‘Brain Drain’
23.3.2022
The new tax proposals are set to formally become law on Thursday amidst little hope that the government may soften the tax blow
India’s Proposed Crypto Tax Rules Likely to Become Law Thursday
23.3.2022
Any easing of the government's stance on crypto taxation will be contained in amendments to the bill
Indian Government Reveals How It Plans to Tax Cryptocurrency Transactions
22.3.2022
India’s ministry of finance has clarified in parliament how the government plans to tax cryptocurrency transactions. A proposed new section to the Income Tax Act states that gains from crypto transactions will be taxed at 30% while losses cannot be deducted. Indian Government Reveals...
Malaysian Ministry Proposes Legalizing NFTs to Boost Participation in Crypto Sector
22.3.2022
Malaysia’s communications ministry has proposed legalizing non-fungible tokens (NFTs) to increase the participation of young people in the cryptocurrency space. The crypto sector is under the purview of the central bank, Bank Negara Malaysia, and the Securities Commission. Malaysian Ministry...
EU Parliament Committee Votes Against Proof-of-Work Ban, Supports Alternative Amendment on Crypto Assets
14.3.2022
European Parliament’s economic and monetary affairs committee has voted against banning proof-of-work-based assets for companies in the European Union. An alternative proposal on crypto assets by European Parliament member Stefan Berger receives support instead. Committee Rejects...
MiCA Amendments Proposed Last Minute Revive Threat of EU Ban on Bitcoin, Report Reveals
14.3.2022
Changes to the EU’s MiCA proposal to regulate crypto markets, suggested shortly before a vote on the package, indicate a bitcoin ban is still a possibility. Despite recently removing wording that would have prohibited coins with energy-intensive mining, some members of the European...
Regulator in UAE’s Special Economic Zone Unveils Consultation Paper on ‘Crypto Tokens’
10.3.2022
The regulatory arm of the United Arab Emirates (UAE)’s special economic zone, the Dubai International Financial Centre (DIFC), has unveiled a consultation paper outlining its proposed regulatory regime for crypto tokens. Changes to the Draft Legislation The Dubai Financial Services Authority...
Proof-of-Work Ban Removed From Europe’s Proposed Crypto Regulation
3.3.2022
A text threatening to prohibit cryptocurrencies relying on energy-intensive proof-of-work mining has been deleted from the draft legislation aimed at regulating the European crypto space. The move comes after the controversial provision sparked objections from the crypto community. MiCA Proposal...
Russian Finance Ministry to Draft 2 Crypto Laws as Central Bank Prepares Own Bills
19.2.2022
The Russian Ministry of Finance has proposed the adoption of two pieces of legislation aimed at regulating cryptocurrencies. The drafts will be presented for public discussions expected to continue until March 18. Media reports have revealed that Bank of Russia has been working on alternative...
Russian Central Bank & Government Fail to Agree on Crypto Regulation; New Limits Proposed
15.2.2022
Senior officials from the Russian government and the Bank of Russia, the country’s crypto-skeptic central bank, did not manage to reach an understanding on the means to regulate the Russian cryptoasset market -- while the Deputy Finance Minister now proposes a buying limit for "unqualified...
Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining
9.2.2022
Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining...