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The Bank of Russia said it will allow cryptocurrency mining in the country, given tax, control, and reporting considerations. However, the central bank also proposes for crypto miners to sell their coins overseas, which will still oblige them to pay taxes. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Bank of Russia Allows … Read more
Nigeria is known to have one of the biggest and fastest growing bitcoin markets in the whole of Africa. The authorities in the country have apparently caught wind of this and now want to examine the phenomena and decide what they can try and do about it. Also Read: Bitcoin Tax Reporting Software Developer Node40 … Read more
The cybercrime combating department of Ukrainian Police has voiced support for the legalization of cryptocurrencies despite sharing some concerns about them. The Cyberpolice unit also noted the need to regulate cryptos “as soon as possible”. Ukrainian parliament is yet to adopt new legislation amid mounting calls from other institutions to regulate cryptocurrencies. Also read: Russia’s … Read more
The state of Hawaii is planning to regulate the use of bitcoin and digital currencies that would require licensure to transmit cryptocurrency-based funds. Two bills introduced by a group of partisan Hawaiian lawmakers are focused on digital currencies as a monetary instrument under the state’s Money Transmitters Act. Also read: Coinbase Exits as Hawaii Requires Bitcoin … Read more
Following persistent complaints about spammy and fraudulent cryptocurrency ads, Facebook has issued an outright ban. As of a new ruling issued on January 30, “ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency”. The move is sure … Read more
A two-day workshop involving over sixty financial investigators in Basel, Switzerland has seen Europol and Interpol agree upon a range of measures designed to ramp up efforts to combat the use of cryptocurrencies for money laundering and terrorist financing purposes. The event saw attendance from over 60 international financial investigators. Also Read: New Research: Laundering of … Read more
The New York State Department of Financial Services has asked two South Korean financial authorities to share cryptocurrency-related data they obtained from their recent inspections of six major Korean banks. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies The US Wants South Korean Crypto Data The New York State Department of Financial … Read more
The new South Korean cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies. Traders must open real-name accounts at the same banks as their exchanges in order to deposit money to trade cryptocurrencies. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies … Read more
Japanese cryptocurrency exchanges are strengthening their self-regulation procedures following the hack of one of the country’s largest crypto exchanges, Coincheck. The Japanese Financial Services Agency has yet to approve Coincheck’s registration as a crypto exchange. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Strengthening Self-Regulation The Japan Blockchain Association (JBA) has previously … Read more
Former Russian Finance Minister Alexei Kudrin favors “self-regulation” in the cryptocurrency sector. He believes it will be more effective, at this early stage, than any imposed regulations. Others have expressed similar views about the currently proposed regime. Kudrin shared his opinion on social media, commenting on the latest developments in the crypto debate. The longtime … Read more
