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Kyrgyzstan Raises $1m from Crypto Mining Taxes in 2023
29.12.2023
Source: chekart/Adobe Kyrgyzstan is quietly becoming a force in crypto mining, with its government set to raise over $1 million this year from taxing the industry. According to the media outlet 24KG, the nation’s finance ministry reported that it had raised $900,000 worth of tax revenue from crypto...
Argentina’s New Government Introduces New Bill to Regulate Crypto Holdings for Tax Payers
28.12.2023
Source: Quatrox Production/AdobeStock Argentina’s newly elected government, led by libertarian Javier Milei, has unveiled its plans to simplify the process of legalizing cryptocurrency holdings, even for individuals who may not have accurately reported them for tax purposes. On December...
HKbitEX Collaborates with Shanghai Technology Exchange for Asset Tokenization Solutions
28.12.2023
  The Hong Kong-based digital asset exchange, HKbitEX, partners with Shanghai Technology Exchange to develop asset tokenization (RWA) solutions for tech companies, supported by China’s Ministry of Science and Technology and Shanghai municipal government. On December 28, in a significant...
Indonesia to Require Cryptocurrency Exchanges to Register with Country’s National Digital Asset Bourse
28.12.2023
Image Source: Pixabay The Indonesian government has announced that all cryptocurrency exchanges operating within the country will be required to register with the newly established Commodity Future Exchange (CFX). Launched earlier this year, the CFX is the world’s first national bourse...
Hong Kong Government Seeks Public Input on Legislation for Stablecoin Supervision
27.12.2023
Source: Pexels The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence...
Japanese Cabinet Approves Tax Reform Eliminating Unrealized Crypto Gains Tax for Companies
25.12.2023
The Japanese government has approved a tax reform that removes some crypto taxes for corporations and conglomerates. The reform, discussed since early December, removes the unrealized gains taxes on crypto holdings for companies, paving the way for them to hold crypto assets more consistently....
Japan’s Government Abolishes Crypto Tax on Unrealized Corporate Gains
25.12.2023
Source: Pixabay / Pharaoh_EZYPT Japan‘s cabinet has recently approved a key change in the fiscal 2024 tax policy, removing the tax on unrealized gains for corporate-held crypto assets, according to Nikkei. In the fiscal 2024 tax reform approved by the Japanese cabinet, the tax on unrealized...
Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow Crypto Denominated Contracts
25.12.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador passes a Bitcoin donation citizenship law, Argentina will allow the settlement of crypto-denominated contracts, and President Milei moves...
Law Offers Fast-Track Citizenship for Bitcoin Donations to El Salvador, Report Says
24.12.2023
Under El Salvador’s recently approved immigration reform law, foreigners who donate to the government’s social and economic development programs will be eligible for expedited citizenship. However, the reform law does not reveal the amount of bitcoins that foreigners must donate...
US Court Finalizes Forfeiture of 69,370 Bitcoin from Silk Road
21.12.2023
Source: DALL·E A U.S. appeals court has completed a legal process finalizing the seizure of 69,370 Bitcoin from the Silk Road, the now defunct dark web marketplace. According to a court filing, the U.S. District Court of Appeals for the Ninth Circuit confirmed the transfer of the Bitcoin to federal...
China to Craft a Document for Web3 Development Involving NFTs, DApps, Cross-Chain, and Privacy Computing
20.12.2023
Image Source: Pexels The Chinese central government has revealed plans to create a strategic document to guide the development of China’s Web3 ecosystem. The document will support the growth of Web3 technologies such as non-fungible tokens (NFTs) and decentralized applications (DApps)...
Crypto Derivative Platform Hegic’s Profitable DeFi Strategy Could Spark Probe From SEC – Here’s Why
19.12.2023
Source: Adobe Hegic, a crypto derivatives trading platform, may have just exposed itself to an insider trading probe from the U.S. government following a profitable but sketchy trade with an affiliate company. The platform recently scored $17 million when its pseudonymous founder, Molly Wintermute...
Blockchain Association’s Employment of ‘Small Army’ of Former Security Officials Angers US Senator Elizabeth Warren
19.12.2023
U.S. Senator Elizabeth Warren has criticized the Blockchain Association’s use of former security officials to push back against her attempts to link crypto to terrorism funding. Warren claimed that the ease with which U.S. officials can leave their positions in government to work as lobbyists shows...
Indian Government is Actively Collaborating With Crypto Industry: Liminal Custody’s Country Head
19.12.2023
Manhar Garegrat, Country Head Liminal Custory As we conclude 2023, the Indian and global crypto industry went through quite a few milestones in terms of regulatory developments. In an exclusive interview with CryptoNews, Manhar Garegrat, the Country Head for India and Global Partnerships of Liminal...
South Korean City Busan Names Digital Exchange Preferred Bidder
19.12.2023
Source: SeongGyun/Adobe The South Korean city of Busan is edging closer to the launch of a long-awaited blockchain-powered digital assets trading platform, and has named a preferred bidder. The city has previously pledged to launch the world’s first city government-run exchange before the end...
Binance Crackdown Unleashes Unprecedented Scrutiny on Crypto Transactions
18.12.2023
Source: Adobe / natali_mis The recent crackdown on Binance by the US Department of Justice (DOJ) has triggered a seismic shift in how the crypto industry operates, with Binance now set to undergo what experts call an “unprecedented” level of scrutiny. The government scrutiny, which...
Tether Confirms Extensive Collaboration With DOJ, FBI and Secret Service
18.12.2023
Tether, the stablecoin company, has confirmed it has collaborated extensively with a series of U.S government agencies, including the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service. These team-ups are focused on making the stablecoin ecosystem safer...
Government of Russia Eyes Commodity-Like Crypto Exports
16.12.2023
The government of Russia might allow crypto miners to sell their cryptocurrency like other exports such as gas. Ivan Chebeskov, deputy minister of finance, specified that this option was part of a bill to legalize cryptocurrency mining introduced in 2022, that could allow miners to proceed with...
Verida and inDAO Team Up to Help Uzbekistan Adopt Web3 Tech
15.12.2023
Source: Pixabay inDAO, a specialized organization focused on incorporating blockchain technology into daily life, and Verida, a provider of self-sovereign digital identity solutions, have formed a partnership with the goal of promoting the widespread adoption of Web3 in Uzbekistan. The partnership...
Lawmaker Calls for the UK Government to Do More for Blockchain
15.12.2023
Member of Parliament Natalie Elphicke also announced that the parliamentary group she chairs will be hosting industry round tables and a call for evidence