Update comes after a series of high-profile crypto lending firm closures. FSB plans to provide reports in October this year. To ensure “robust regulation and supervision” of cryptocurrencies, the Financial Stability Board (FSB) announced today. According to the G20 Treasury and Central Bank leaders’ group, they plan to provide a
Regarding DFAs, platforms are exempt from VAT, exactly like securities. Foreign-based corporations will be charged a higher 15 percent tax. In Russia’s State Duma, the lower house of the Russian parliament passed a measure allowing Moscow to tax digital financial assets (DFAs) activities by altering the country’s tax code. The
The Advertising Standards Council of India (ASCI) has received nearly 500 complaints about violating the regulations according to the proposed standards. The number of complaints accounts for 453 out of which 419 were confirmed violating. The recent advertisers and influencers have produced contact majorly on crypto or digital assets. But
Hoskinson outlined the regulatory framework he envisioned for the sector. According to Hoskinson, no other financial asset is as open and accessible as crypto. Cardano’s Charles Hoskinson has made it to the U.S. Congress through crypto. The crypto-verse was abuzz recently with news that Cardano developer Charles Hoskinson has been
Crypto assets are expected to be treated similarly to monetary claims. Law update by the end of this year after legal team advice. Japan’s Ministry of Justice, is in process of updating the Organized crime sector laws to inculcate the cryptocurrency. Digital assets are the focus of money laundering, cyber-attacks,
The RBI has long warned about cryptocurrencies being a threat. The Indian central bank is currently developing its own CBDC. RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies (CBDCs) on cryptocurrencies, like bitcoin and ether, at a webinar organized by the International
The Paraguayan Chamber of Deputies passed a cryptocurrency regulation bill. Deputies voted 40 to 12 to enact the revised bill draught in a special session. Several countries, including Paraguay, have followed El Salvador and the Central African Republic in approving Bitcoin as a form of legal money. In Latin America,
Cyprus, according to Kokkinos, has an “enviable position” in the EU for innovation. Institutional adoption of cryptocurrency is on the rise in Europe. Many nations are pushing forward with their own crypto initiatives even though Bitcoin’s price has been volatile this year. Earlier this week, a Cyprus minister stated that
Investors had to keep it for at least ten years before selling it out tax-free until now. The crypto market is recovering after the recent bloodbath. Because of the rising prominence of digital currencies like Bitcoin and Ethereum, the German Federal Ministry of Finance (BMF) has issued a letter that
A preliminary review of a Chilean CBDC was included in a May 11 report from the bank. Cryptocurrencies are not banned in Chile, but the government is concerned. Issuing a digital Chilean peso by the Central Bank of Chile has been postponed until a more thorough assessment of the advantages
