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Banning Crypto Is Like Banning Internet in Russia, Finance Minister Says Amid Differences With Central Bank
17.2.2022
It’s impossible to ban cryptocurrencies in Russia, the country’s minister of finance has stated in his first comments on his department’s latest disagreements with the Russian monetary authority. The two institutions are reportedly failing to reach consensus on crypto...
Belarus Moves to Allow Investment Funds to Acquire Crypto Assets
5.2.2022
The crypto-friendly nation of Belarus is preparing to permit investment funds to put money into digital currencies. A proposal to do so is part of a package of necessary legal changes tailored to attract such institutions to the country. Finance Ministry Takes Steps to Facilitate Crypto Investments...
Bank of Russia Proposes Wide Ban on Cryptocurrency Use, Trade, Mining
21.1.2022
True to its hardline stance on decentralized digital money, the Central Bank of Russia is now pushing for a wide-ranging ban on crypto-related activities such as issuance, exchange, and mining. A consultation paper published by the regulator cites threats to financial stability and citizens’...
Europe’s Securities Watchdog Seeks Feedback on Regulations Ahead of DLT Pilot
6.1.2022
ESMA, the European Securities and Markets Authority, has set out to establish if EU authorities need to amend existing regulations in order to facilitate the trading and settlement of tokenized securities. The regulator is now seeking opinions on the matter ahead of launching a pilot regime...
Prosecutor General’s Office Wants to See ‘Cryptocurrency’ in Russian Law
10.12.2021
The Prosecutor General’s Office of the Russian Federation has insisted that the term “cryptocurrency” should be added to the country’s legislation. The move would allow authorities in Moscow to confiscate digital assets that have been involved in criminal activities....
Finance Committee Approves Legislation Delaying Crypto Tax in South Korea
30.11.2021
Changes meant to postpone the introduction of a tax on virtual assets such as cryptocurrencies in South Korea have been approved by an important parliamentary committee. The draft legislation seeks to delay Seoul’s plan to impose a 20-percent levy on gains from crypto transactions. Ahead...
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...
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...
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...
Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament
7.10.2021
The Ukrainian president has sent the recently adopted law “On Virtual Assets” back to the Verkhovna Rada, the country’s legislature. The head of state has come up with his own suggestions and opposed the establishment of a new regulatory body that would require additional...
Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says
13.9.2021
The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto...
Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says
12.9.2021
Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect...
Slovenia Prepares to Impose 10% Tax on Spending and Selling Cryptocurrency
31.8.2021
The tax authority of Slovenia has put forward a proposal to change the crypto taxation rules in the country, local media reported. The amendments aim to introduce a 10% tax rate for transactions involving the spending or converting of cryptocurrencies into fiat money. Tax Office Wants to Simplify...
NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands
10.7.2021
On Friday, the public interest law firm New Civil Liberties Alliance (NCLA) filed an opening brief in the cryptocurrency case of James Harper v. Charles P. Rettig. The NCLA argues that Harper’s Fourth and Fifth Amendment constitutional rights were violated by the Internal Revenue Service...
Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners
1.7.2021
Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry. Coin Miners in Kazakhstan to Pay Extra...
Russia’s Supreme Court Recognizes Tokens as Assets Like Money and Property
26.12.2019
A phenomenon like bitcoin can gain recognition, including regulatory, in many different and often unexpected ways. Governments that hesitate to accept cryptocurrencies as legal tender, sometimes validate their existence indirectly and even acknowledge they can be used for payments. Taxing crypto...
Uzbekistan Bans Citizens From Buying Crypto, They Can Only Sell
24.12.2019
Authorities in Uzbekistan have effectively banned residents from purchasing cryptocurrencies on digital asset exchanges licensed in the country. Crypto holders will only be able to sell their coins and that’s if these have not been obtained through anonymous transactions, amendments to...