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Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financial state, knowledgeable sources … Read more
Authorities in Russia are preparing a number of changes to existing laws in order to adopt rules for the country’s market for non-fungible tokens, or NFTs. A working group has discussed the matter and proposed solutions to legally define and regulate transactions with the digital collectibles. Economy Ministry Takes Initiative to Regulate NFTs in Russia … Read more
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 relevant threats. Hong Kong Lawmakers to Review Bill Aligning Crypto Sector With … Read more
After implementing the merge testnet Kiln, Ethereum is seemingly getting closer to transitioning to a full proof-of-stake (PoS) network. According to developers Kiln’s execution layer was initially launched leveraging proof-of-work (PoW) and since March 15, Kiln is running entirely under a proof-of-stake consensus algorithm. Ethereum’s Kiln Merge Testnet Goes Live Ethereum developers are making progress … Read more
Changes to the EU’s MiCA proposal to regulate crypto markets, suggested shortly before a vote on the package, indicate a bitcoin ban is still a possibility. Despite recently removing wording that would have prohibited coins with energy-intensive mining, some members of the European Parliament are now targeting “unsustainable” cryptocurrencies. New MiCA Paragraphs Call for Subjecting … Read more
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 in Belarus Amendments aimed at luring investment funds … Read more
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. Russian Prosecutor General’s Office Prepares Amendments Allowing Seizure of Cryptocurrency With cryptocurrencies being only partially regulated … Read more
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 of Election, Major Parties Support Tax Break for Crypto Investors … Read more
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 Prepares to Trial Digital Ruble, Officials Say CBDC … Read more
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 Law Concerning Crypto Services in Kazakhstan Members of the upper house in Kazakhstan’s parliament, the … Read more
