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Korean Government to Adopt Cryptocurrency Tracking System Within 5 Months
31.1.2023
The South Korean government will adopt a cryptocurrency tracking system within the first half of this year, the country’s Ministry of Justice reportedly announced. The tracking system will be used to monitor and analyze crypto transactions, particularly to uncover the sources of illegal...
South Korea to Start Tracking Crypto Transactions in Bid to Crack Down on Money Laundering
30.1.2023
The country will start off using a third-party system while it develops its own software
Binance Processed $346 Million for Crypto Exchange Bitzlato, Report Claims
26.1.2023
Cryptocurrency exchange Binance has reportedly processed nearly $346 million in crypto transactions for Bitzlato, the coin trading platform that was shut down in an international law enforcement operation. U.S. authorities say the world’s largest trading platform for digital assets was among...
Binance Banking Partner Restricts Crypto Transactions to $100,000 and Above – Here’s Why
23.1.2023
Binance, the world’s largest crypto exchange by trading volume, says it can no longer support USD deposits and withdrawals through SWIFT if the amount transferred is less than $100,000.
The reason for the new limitation, which sets the bar for such transfers extremely high for most ordinary crypto...
FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings
19.1.2023
Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid...
Illicit crypto transactions reached all-time highs in 2022: Report
12.1.2023
The abnormal amount of illicit transactions is caused by the equally record-breaking scale of international sanctions
Romania Carries Out Raids as Part of Crypto Tax Evasion Probe
8.1.2023
Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders had failed to report digital assets exceeding...
Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability
30.12.2022
Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to...
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers
25.12.2022
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto...
European Union to Put a 10,000-Euro Limit on Cash Payments; Transactions Over €1,000 in Crypto Will Be Scrutinized
10.12.2022
The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency transactions. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto transactions of over...
Brussels Wants All Crypto Service Providers to Report Transactions of Europeans
9.12.2022
The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are based, will have to abide by the new rules. EU...
Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions
5.12.2022
A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa...
Solana-Based DEX Orca Partners With Stripe for Fiat Transactions
1.12.2022
Orca, a Solana-based decentralized exchange (DEX), has integrated with payments heavyweight Stripe to to power its fiat-to-crypto transactions
Solana-based market maker integrates Stripe for fiat-crypto transactions
1.12.2022
The Solana-based automated market maker Orca opened up fiat purchases and fiat-to-crypto transactions through a new integration with Stripe’s onramp
Brazilian Chamber of Deputies Approves Bill Regulating Crypto Transactions
30.11.2022
The bill still requires the approval of the executive branch before it becomes law
Russia and Turkey to Collaborate on Combating Crime-Related Crypto Transactions
11.11.2022
Law enforcement and judicial authorities from Russia and Turkey are joining forces in the fight against cybercrime, including the use of cryptocurrencies for illegal purposes. The collaboration has been agreed upon during a visit by Russia’s Prosecutor General to Ankara. Russia, Turkey Arrange...
Swiss Financial Watchdog Releases Revised AML Ordinance, Clarifies Crypto Requirements
4.11.2022
The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities...
Santander UK limits crypto transactions for its customers
3.11.2022
Users will be restricted to a £1,000 limit per transaction, and a total limit of £3,000 a month
Switzerland's financial regulator extends reporting requirements for crypto transactions
2.11.2022
FINMA said it stood by an AML ordinance requiring identity checks for transactions of virtual currencies to cash or “other anonymous means of payment” exceeding 1,000 Swiss francs
India’s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms
1.11.2022
India’s tax authority has reportedly asked major cryptocurrency exchanges in the country to provide information pertaining to the coins traded on their platforms. The tax authority is also evaluating the taxability of crypto transactions to determine if the goods and services tax (GST) can...