Digital Currency

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Russian Bill Requires Deputies to Declare Their Cryptocurrency Investments

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The bill for the regulation of cryptocurrencies in Russia submitted by the finance ministry and the central bank requires State Duma deputies to declare their cryptocurrency investments. Currently, government officials are not required to declare their crypto holdings, according to a recent announcement by the Russian Ministry of Labor. Also read: Cryptocurrency Activities Will Be … Read more

Indian Crypto Traders Getting Notices From Tax Authority Due to Unreported Investments

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The Indian tax authority has sent notices to cryptocurrency investors after discovering that some crypto investments are not reflected on tax returns. The government conducted a survey of crypto trading at the country’s 9 exchanges and found that more than $3.5 billion worth of transactions were traded over a 17-month period. Also read: Despite Multiple Government … Read more

US Regulator Sues Three Companies For Cryptocurrency Fraud

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The U.S. Commodity Futures Trading Commission has filed charges against three separate companies for engaging in fraudulent schemes involving cryptocurrencies. The cases include fraud and misappropriation of bitcoin and litecoin. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations CFTC Sues Crypto Operators The U.S. Commodity Futures Trading Commission (CFTC) filed civil … Read more

Korean Lawmaker Shows Evidence Government Embargo Led to Market Manipulation

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A South Korean lawmaker has shown how the government’s announcement policy enabled market manipulation last week following the news of possible cryptocurrency trading shutdown. According to his evidence, reporters and officials had 40 minutes to buy the dip as the price of bitcoin in Korean won reversed and rallied. Also read: South Korean Officials Caught Trading … Read more

Cryptoruble Delayed – Russian Central Bank Worried It Could Bypass Regulations

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Russia’s national cryptocurrency, the cryptoruble, is unlikely to be created in the foreseeable future, according to the Bank of Russia. The central bank believes that it could be used to bypass regulations. Meanwhile, the finance ministry wants to use the cryptoruble for cross-border payments. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto … Read more

Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks

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South Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto … Read more

South Korean Regulator: In Reality Impossible to Close Cryptocurrency Exchanges

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The South Korean Fair Trade Commission (KFTC) does not have the authority to close cryptocurrency exchanges. “It is impossible in reality,” said the KFTC chairman. The agency is currently investigating 13 major exchanges operating in the country for alleged violations of the e-commerce law. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto … Read more