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Hong Kong to Introduce Licensing for Crypto Platforms Through AML Law
10.7.2022
New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines...
Beijing Court Rules in Case Involving a Man Who Refused to Be Paid in USDT Instead of Fiat
7.7.2022
A Chinese tech worker who refused to be paid in tether (USDT) and insisted on receiving fiat yuan has won his case against his former employers.
Per the Workers’ Daily, a branch of the People’s Court in the Chaoyang District of Beijing heard a civil case involving a now-defunct IT company and...
Singapore Considers Imposing New Restrictions on Crypto Trading
6.7.2022
The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.”...
Spanish Crypto Holders to Be ‘Burdened’ with Fresh Crypto Declaration Rules
5.7.2022
Crypto industry insiders have hit back at the Spanish government’s latest plans for the sector: A fresh effort to make citizens who hold coins on overseas platforms declare their holdings....
Read More: Spanish Crypto Holders to Be ‘Burdened’ with Fresh Crypto Declaration Rules
EU Lawmakers Want Anti-Money Laundering Rules To Cover NFTs
5.7.2022
With the European Union advancing work on new regulations that could exert a significant impact on the crypto industry, a group of members of the European Parliament have proposed an amendment to the bloc’s anti-money laundering (AML) legislation that would cover non-fungible token (NFT) trading...
Singapore Mulls New Crypto Rules, KuCoin Denies Rumors, Meta Closes Novi + More News
4.7.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: Singapore Mulls New Crypto Rules, KuCoin Denies Rumors, Meta Closes Novi + More News
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets
2.7.2022
Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto Assets regulatory proposal. The progress in the negotiations over the comprehensive legal framework for the Union’s crypto space comes after earlier this week European...
Biden Official Says US Government Could Pass Stablecoin Rules by End of Year
30.6.2022
The President’s Working Group on Financial Markets discussed issues that should be addressed by stablecoin legislation in a meeting Thursday
EU Agreement Reached on Anti-money Laundering Rules for Cryptocurrencies
30.6.2022
European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively...
Uzbekistan Presents Registration Requirements for Cryptocurrency Miners
29.6.2022
Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations...
EU Finalizes Crypto Money Laundering Rules
29.6.2022
A Wednesday meeting secured a final deal on anti-money laundering legislation for crypto transfers which the industry warns could prove harmful for innovation and privacy
Russian Parliament Adopts Tax Rules for Digital Assets
29.6.2022
Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes...
Crypto Exchange That Hosted a Scammer’s Wallet Is ‘Not Liable’ For Victim’s Losses, Court Rules
28.6.2022
A South Korean judge has ruled that a domestic crypto exchange is not liable for the actions of a voice phishing scam gang who transferred their victims’ coins onto its platform.
According to Newsis, an individual named only as 'B' for legal reasons claimed they had been the victim of...
Swiss Regulator Urges Financial Watchdogs to Protect Crypto Investors
24.6.2022
Crypto trading is increasingly similar to the U.S. stock market of the late 1920s, the head of the Swiss financial watchdog has remarked. The high-ranking official believes that regulatory agencies around the world should do more to ensure investor protection. Swiss Financial Watchdog Executive...
Spanish Treasury Introduces New Crypto Tax Model Featuring Balance Reports
23.6.2022
The Spanish treasury has introduced a new series of requirements regarding the reporting and taxation of cryptocurrency holdings in the country. The new rules include the obligation of taxpayers to disclose all of their cryptocurrency holdings to the tax authorities, as well as their value...
Old-school photographers grapple with NFTs: New world, new rules
23.6.2022
India Clarifies Rules for Controversial Tax Provision Ahead of Start Date
22.6.2022
An Indian government notification from the tax authorities has clarified key procedural elements of compliance to the new and controversial tax provision, 1% tax deducted at source (TDS), effective July 1, 2022
Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services
22.6.2022
Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. Popular Chinese App to Impose Restrictions...
Russian Finance Ministry Rules Out Sale of Oil for Bitcoin
20.6.2022
The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender. Crypto...
Virtual Currency-Based Sale Agreement an Invalid Contract, Chinese Court Rules
18.6.2022
A virtual currency cannot be circulated in the market as a currency, therefore a vehicle sale contract wherein parties agreed that the buyer would pay with a privately issued digital currency is invalid, a Chinese court has ruled. The court asserts that a virtual currency does not have the same...