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New York's Crypto BitLicense Oversight Criticized by State's Comptroller
9.1.2024
The New York Department of Financial Services (DFS) is drawing some internal heat over whether it's doing a good job overseeing crypto activity through its BitLicense program, according to a review from New York State Comptroller Thomas DiNapoli
CFTC Committee Recommends Enhanced Understanding and Regulation of DeFi
9.1.2024
CFTC building. Source: Adobe / JHVEPhoto The Technology Advisory Committee of the US Commodity Futures Trading Commission (CFTC) has taken a significant step in addressing the challenges posed by decentralized finance (DeFi) by voting to submit a report urging the government and industry...
Blockchain Association Addresses Sen. Warren’s Criticism of Crypto Hires
9.1.2024
Source: Pixabay The Blockchain Association has published a public response to Senator Elizabeth Warren’s criticism of the crypto industry’s hiring of former government officials. In an open letter published on January 9th, Blockchain Association CEO Kristin Smith addressed Sen. Warren’s previous...
Thai Government’s Digital Wallet Stimulus Plan Under Scrutiny
9.1.2024
Source: AdobeStock / kikujungboy Has the Thai government’s plan to deposit money in citizens’ digital wallets received approval from the legal adviser? Depends on whom you’re asking. The confusion began on Sunday. According to The Nation, the Council of State has given its opinion...
‘Blockchain Basics Act’ Lands in Nebraska, 13 States to Introduce Crypto Legislation in 2024
8.1.2024
The Blockchain Basics Act, a bill that seeks to protect several blockchain-based activities from being outlawed by the U.S. government, has been introduced in Nebraska. Sponsored by Sen. Eliot Bolstar, the bill is similar to the one introduced in Missouri recently, and 11 more states are expected...
75 US Lawmakers Now Support CBDC Anti-Surveillance Bill
2.1.2024
Congressman Tom Emmer’s CBDC Anti-Surveillance State Act now has 75 cosponsors. “A central bank digital currency is government-controlled programmable money that, if not designed to emulate cash, could give the federal government the ability to surveil and restrict Americans’ transactions,”...
Blackrock Names JPMorgan as Authorized Participant for Spot Bitcoin ETF Despite Jamie Dimon Wanting to Ban Crypto
31.12.2023
Blackrock, the world’s largest asset manager, has named JPMorgan as a lead authorized participant for its spot bitcoin exchange-traded fund (ETF). This followed JPMorgan CEO Jamie Dimon stating in a congressional hearing that bitcoin and cryptocurrency are used primarily for criminal...
India Cracks Down on Offshore Crypto Exchanges — Blocks Binance, 8 Other Platforms
30.12.2023
The Indian government has directed the Ministry of Electronics and Information Technology to bar access to offshore cryptocurrency exchanges deemed illegal within the country. The nine affected crypto platforms include Binance, Kucoin, Huobi, Kraken, and Bitfinex. The Ministry of Finance also...
Indonesian Authorities Raid Ten Crypto Mining Facilities for Energy Theft
29.12.2023
Source: AdobeStock / Photocreo Bednarek Indonesian authorities crack down on ten Bitcoin (BTC) mining sites for stealing energy from the national grid to power mining operations in the country. According to reports from local media outlets, the government moved in on ten crypto mining sites whose...
Kyrgyzstan Raises $1m from Crypto Mining Taxes in 2023
29.12.2023
Source: chekart/Adobe Kyrgyzstan is quietly becoming a force in crypto mining, with its government set to raise over $1 million this year from taxing the industry. According to the media outlet 24KG, the nation’s finance ministry reported that it had raised $900,000 worth of tax revenue from crypto...
Argentina’s New Government Introduces New Bill to Regulate Crypto Holdings for Tax Payers
28.12.2023
Source: Quatrox Production/AdobeStock Argentina’s newly elected government, led by libertarian Javier Milei, has unveiled its plans to simplify the process of legalizing cryptocurrency holdings, even for individuals who may not have accurately reported them for tax purposes. On December...
HKbitEX Collaborates with Shanghai Technology Exchange for Asset Tokenization Solutions
28.12.2023
  The Hong Kong-based digital asset exchange, HKbitEX, partners with Shanghai Technology Exchange to develop asset tokenization (RWA) solutions for tech companies, supported by China’s Ministry of Science and Technology and Shanghai municipal government. On December 28, in a significant...
Indonesia to Require Cryptocurrency Exchanges to Register with Country’s National Digital Asset Bourse
28.12.2023
Image Source: Pixabay The Indonesian government has announced that all cryptocurrency exchanges operating within the country will be required to register with the newly established Commodity Future Exchange (CFX). Launched earlier this year, the CFX is the world’s first national bourse...
Hong Kong Government Seeks Public Input on Legislation for Stablecoin Supervision
27.12.2023
Source: Pexels The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence...
Japanese Cabinet Approves Tax Reform Eliminating Unrealized Crypto Gains Tax for Companies
25.12.2023
The Japanese government has approved a tax reform that removes some crypto taxes for corporations and conglomerates. The reform, discussed since early December, removes the unrealized gains taxes on crypto holdings for companies, paving the way for them to hold crypto assets more consistently....
Japan’s Government Abolishes Crypto Tax on Unrealized Corporate Gains
25.12.2023
Source: Pixabay / Pharaoh_EZYPT Japan‘s cabinet has recently approved a key change in the fiscal 2024 tax policy, removing the tax on unrealized gains for corporate-held crypto assets, according to Nikkei. In the fiscal 2024 tax reform approved by the Japanese cabinet, the tax on unrealized...
Latam Insights: El Salvador Passes Bitcoin Citizenship Law, Argentina to Allow Crypto Denominated Contracts
25.12.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador passes a Bitcoin donation citizenship law, Argentina will allow the settlement of crypto-denominated contracts, and President Milei moves...
Law Offers Fast-Track Citizenship for Bitcoin Donations to El Salvador, Report Says
24.12.2023
Under El Salvador’s recently approved immigration reform law, foreigners who donate to the government’s social and economic development programs will be eligible for expedited citizenship. However, the reform law does not reveal the amount of bitcoins that foreigners must donate...
US Court Finalizes Forfeiture of 69,370 Bitcoin from Silk Road
21.12.2023
Source: DALL·E A U.S. appeals court has completed a legal process finalizing the seizure of 69,370 Bitcoin from the Silk Road, the now defunct dark web marketplace. According to a court filing, the U.S. District Court of Appeals for the Ninth Circuit confirmed the transfer of the Bitcoin to federal...
China to Craft a Document for Web3 Development Involving NFTs, DApps, Cross-Chain, and Privacy Computing
20.12.2023
Image Source: Pexels The Chinese central government has revealed plans to create a strategic document to guide the development of China’s Web3 ecosystem. The document will support the growth of Web3 technologies such as non-fungible tokens (NFTs) and decentralized applications (DApps)...