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Bank of Russia Adds Digital Assets to Banking Chart of Accounts
3.10.2022
Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets. Russian Banks...
Bill Aims to Limit Crypto Mining in Kazakhstan Only to Registered Companies
1.10.2022
New legislation proposed in the parliament of Kazakhstan will allow only authorized miners to mint digital currency, if adopted. The draft has been designed to comprehensively regulate the industry and reduce what its sponsors label as uncontrolled consumption of electricity in the sector....
Money Laundering via Metaverse, DeFi, NFTs Targeted by EU Lawmakers’ Latest Draft
29.9.2022
An emerging compromise may subject those who govern decentralized autonomous organizations for extra requirments
Russia Said to Allow Crypto Mining in Regions With Hydroelectric and Nuclear Power
29.9.2022
Cryptocurrency mining should be allowed in areas with excess energy and prohibited in those that experience deficits, according to Russian officials preparing to legalize it. An expert from the crypto industry has recently marked the regions where Moscow is likely to authorize mining and the ones...
Russia Starts Developing Mechanism for International Crypto Payments
25.9.2022
Financial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry have already agreed on a draft law regulating cross-border crypto payments....
Draft US stablecoin bill would ban new algo stablecoins for 2 years
21.9.2022
It’s reported the bills' definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price
Working Group to Develop Efficiency Standard for Crypto Mining in Russia
19.9.2022
Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime. Russia Prepares to Improve Efficiency of Mining...
Russian Businesses to Choose Which Crypto to Use for Cross-Border Settlements, Lawmaker Says
14.9.2022
Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could...
Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say
25.8.2022
The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors...
US Tribal Nation Economic Zone Publishes Draft Rules for DAOs
18.8.2022
The Catawba Digital Economic Zone proposes laws that would allow DAOs to be organized as limited liability companies or unincorporated non-profits
IRS Expands Crypto Question on Tax Form
5.8.2022
The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) published a draft of Form 1040 for the 2022 tax year last week. Form 1040...
US Stablecoin Bill Delayed, but Draft Language May Soon Emerge
25.7.2022
A potential bipartisan bill to regulate stablecoins has been bogged down in negotiations, according to three people familiar with the talks, but lawmakers developing the legislation are considering releasing some draft language that may spur wider input
Putin Signs Law Prohibiting Payments With Digital Assets in Russia
15.7.2022
President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary...
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...
Russia’s Finance Ministry Supports Circulation of Stablecoins in Country
9.7.2022
The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay the ground for a new financial system, the department is unsure if it will...
Proposal to Set Up Russian Crypto Exchange Circulated in Moscow
8.7.2022
Russia may establish a dedicated exchange to carry out cryptocurrency transactions locally, a high-ranking member of the State Duma has suggested. The new platform can be hosted by the Moscow Exchange, according to Anatoly Aksakov, head of the parliamentary financial market committee. Russian...
Russian State Duma Adopts Law Banning Payments With Digital Financial Assets
7.7.2022
The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment. Russian Parliament...
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...
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...
Albania to Start Taxing Crypto-Related Income From 2023
25.6.2022
Authorities in Albania are finalizing regulations that will allow the taxation of income and profits from cryptocurrency investments. The government intends to begin imposing the levy in 2023, after adopting the necessary legislation which has been proposed for public consultations. Albania Set...