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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
18.3.2023
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital...
9 key metrics to analyze the health of a bank
16.3.2023
Discover nine crucial metrics to analyze bank health: equity, ROA, ROE, NPLs, CAR and more
Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads
19.11.2022
Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted advertising of crypto-related products and services....
No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal
26.5.2022
A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted...
Trade Minister Expects Russia to Legalize Cryptocurrency
19.5.2022
Cryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week. Crypto Legalization Is Current Trend, Russian Minister...
Kazakhstan Senate Adopts Legislation Subjecting Crypto Platforms to Financial Monitoring
8.11.2021
The Senate in Kazakhstan has approved amendments aimed at preventing the legalization of illicit funds which will affect companies dealing with digital assets, among others. The new legislation subjects crypto service providers to the country’s financial monitoring regime. Senators Back...
10 Crypto Exchanges File for Registration With Korean Regulators Ahead of Deadline
24.9.2021
Cryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally. Only 10 digital asset trading platforms have already submitted their documents to the Korean anti-money laundering body. Compliance Deadline for...
Ukraine Adopts Law ‘On Virtual Assets’ to Regulate Crypto Market
9.9.2021
The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations...
US Treasury Assures Crypto Requirements in Infrastructure Bill Won’t Target Non-Brokers Even Without Amendment
25.8.2021
Despite the broad definition of a broker in the $1.2 trillion infrastructure bill, an official of the U.S. Treasury Department says that non-brokers will not be targeted even if the bill is not amended. The official added that crypto advocates’ fears are unwarranted. Treasury Official Says...
US Senator Says Crypto Tax in Infrastructure Bill Is ‘Unworkable,’ Plans to Offer Amendment to Fix It
3.8.2021
Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment...