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Russia Fails to Act on Request to Help Freeze Millions in Crypto Withdrawn From Wex Wallet
14.11.2021
The Russian Ministry of Interior has rejected a request filed by clients of Wex to do its part in the blocking of crypto funds removed from a wallet controlled by the now-defunct crypto exchange. Over 10,000 ETH have been recently withdrawn from the wallet and transferred to other platforms....
Austria Plans to Tax Cryptocurrencies Like Stocks, Vows Equal Treatment
12.11.2021
As a growing number of governments are looking to tap into crypto profits, authorities in Austria have indicated their intention to tax gains from digital asset investments just like those from stocks and bonds. The move is expected to increase trust and access to cryptocurrencies. Austria to Apply...
Russia to Change 13 Laws and Codes for Digital Ruble
8.11.2021
Authorities in Russia are gearing up to amend various pieces of legislation to facilitate the issuing and function of the digital ruble. Officials in Moscow believe this version of the national fiat needs to be regulated separately from other digital forms of money such as cryptocurrencies. Russia...
Moscow Confirms Arrest of Russian Crypto Entrepreneur in Amsterdam, Report Mentions FBI
6.11.2021
Authorities in the Netherlands have arrested a Russian national with a cryptocurrency business, the Foreign Ministry in Moscow has confirmed. The man involved in the establishment of two crypto exchange platforms was apprehended earlier this month, reportedly on a request from U.S. law enforcement....
Russian Government to Track Crypto Transactions With Help From Anti-Drug Organization
4.11.2021
Russian institutions have responded to a call from а public movement for joint efforts to identify cryptocurrency transfers related to drug trade. The anti-drug organization, Stopnarkotik, recently asked the interior ministry and the central bank to investigate alleged connections between...
Kazakhstan President Demands ‘Urgent’ Regulation of Crypto Mining Amid Power Shortages
4.11.2021
Facing an electricity deficit largely blamed on cryptocurrency miners, Kazakhstan is trying to avoid an energy crisis this winter. The president of the country has insisted on the need to maintain power supply for the industry and population, calling for urgent legal regulation of the expanding...
No Plans to Make US Dollar Sole Currency, Zimbabwean Finance Minister Calls Idea ‘Suicidal’
29.10.2021
The Zimbabwean Finance Minister, Mthuli Ncube, recently told business leaders that he is not planning to make the U.S. dollar the country’s sole currency again. Government Focused on Strengthening Local Currency Instead of entertaining those calling for the dollarization of the Zimbabwean...
Slovenia Launches Public Consultations on Crypto Taxation Law
28.10.2021
Authorities in Slovenia have prepared new legislation tailored to determine how crypto holdings and transactions are taxed in the country. The proposal, aimed at clarifying the matter, has been submitted for public consultations this week, local media reports revealed. Slovenia to Amend Tax Rules...
Slovenian finance ministry seeks public opinion on crypto tax laws
27.10.2021
Slovenia's crypto tax bill proposes a 10% tax on fiat-crypto conversions and payments made with cryptocurrencies
Germany Auctions Bitcoin Seized From Darknet: Bargain Hunters Flock to Buy Cheap BTC
27.10.2021
German authorities are auctioning bitcoin seized from the darknet in cybercrime cases. The auction website reportedly experienced high traffic to bitcoin listings, with 4,000 new registered users over the past few days. German Government Auctioning Seized Bitcoin The Justice Ministry of North...
Single Mining Farm Needs as Much Power as 24,000 Homes, Kazakhstan Estimates
23.10.2021
Authorities in Kazakhstan have calculated the energy used in the country’s crypto mining industry which competes for electricity with other sectors of the economy and households. The government has also estimated the additional supply necessary to meet the growing demand from mining farms...
Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future
20.10.2021
Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even...
Crypto Miners Blamed for Power Supply Deficit in Kazakhstan, Government Mulls Restrictions
3.10.2021
Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees...
Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to Finiko
28.9.2021
The investigation into the Russia-based crypto pyramid Finiko is growing with law enforcement officials in Samara region announcing they have launched eight criminal cases against Finiko associates. Authorities are also working to identify more victims of the Ponzi scheme, Russia’s largest...
Suex Founder Loses Top Job Over US Sanctions, Major Exchange, Payment Provider Implicated
26.9.2021
The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities...
South Africa Ransomware Attack: Justice Department Denies Receiving 50 BTC Ransom Demand
22.9.2021
South Africa’s Department of Justice and Constitutional Development (DOJCD) has denied claims that it has received a 50 bitcoin ransom demand from hackers that attacked its systems on September 6, 2021. Reports of Ransom Demand Deemed ‘Completely Untrue’ Instead, the DOJCD...
Spain’s Finance Ministry Intensifies Scrutiny of Crypto Wallets, Pay Firms
21.9.2021
of Finance. The ministry’s Union of Technicians (known locally as GESTHA) was quoted as stating that it “has been monitoring” the “[crypto] situation for several years” and had gradually succeeded in “establishing control measures to stop money laundering” efforts that make use of
Uruguay Regulator Suggests that Crypto-Real Estate ‘Exchanges’ Are Possible
15.9.2021
del Castillo & Asociados approached the General Tax Directorate (known locally as the DGI), an agency that answers to the nation’s Ministry of Economy and Finance, for advice on the matter. The media outlet noted that a number of “specialized portals” that advertise real est
Digital Ruble to Help Curb Use of ‘Money Surrogates,’ Russia Says in Financial Strategy Document
15.9.2021
The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using...
Seychelles Examines the Pros and Cons of Licensing Crypto Trading Platforms
10.9.2021
Seychelles’ Financial Services Authority (FSA) together with the country’s finance ministry, is reportedly working on a policy to either prohibit or license crypto trading platforms as registered international businesses. Increase in International Investigations of Crypto Platforms...