Category: Economy & Regulation
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Alternative Crypto Bills Presented in Ukraine and Russia
Draft laws employing alternative approaches to regulating digital currencies have been introduced in Ukraine and Russia. In Kiev, a bill that classifies cryptocurrency as an asset, unit of exchange and store of value has been filed in the Rada and it’s supported by both deputies and representatives of the industry. In Moscow, the managers of…
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New French Law Sets Out Guidelines For ICOs
After slashing taxes on profits made from cryptocurrency trading by more than half, France has now implemented a new legal framework for initial coin offerings (ICOs). Is Europe’s third largest economy transforming into a haven for cryptocurrency? Also read: Faced With Cash And Forex Shortages, Zimbabweans Turn To Bitcoin – Even When It’s Banned French Lawmakers…
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Former RBI Governor Stirs Up PMO India – Time For Better Banks
Bank frauds in India have opened a can of worms this year, leaving the public questioning concepts such as board, governance, public sector, bankruptcy, and investor transparency with anxiety and anger. As a former RBI Governor raises more questions with the Prime Minister’s Office, it’s time to bring crypto finance to the debate. Also read: Thai…
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IMF Pressures Marshall Islands to Drop National Crypto
The International Monetary Fund (IMF) has exerted pressure on the Marshall Islands to torpedo its proposed crypto. The move by the Washington-based global financial institution has been cited as evidence of the steps central bankers will take to thwart cryptocurrency adoption. The Marshall Islands’ decision could have ramifications that extend far beyond the confines of…
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Ukrainians Advised to Pay 19.5% Tax on Crypto Incomes
In the absence of dedicated regulation, Ukrainians are expected to pay the regular 19.5% income tax rate on their profits from crypto-related activities like trading and mining, a high-ranking official from the Finance Ministry in Kiev explained. Crypto investors are free to report their digital funds as either property or financial assets. Also read: Uzbekistan…
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Iran Officially Recognizes Cryptocurrency Mining
As economic sanctions start to bite, Iran is now looking to cryptocurrencies to ease the damage. The world’s third-largest oil-producer seeks to follow in the footsteps of Venezuela, which has issued an oil-backed digital currency called the Petro. But can Iran succeed where Venezuela is ostensibly faltering? Also read: As Zimbabweans Struggle for Cash, Even the…
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Hong Kong Seeks Fintech Talent, DLT Experts
Authorities in Hong Kong have taken steps to attract fintech specialists who can support its economic development. The government of the Chinese region has prepared a list of needed professions from several related fields, including distributed ledger technologies and asset management. Also read: China Escalates Crackdown, Russia Chases Shadows, UK Warns of Scams Hong Kong…
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Investments, Offshores, Foreign Trade – Russia Planning for Crypto
With regulations on the horizon, high-ranking officials in Russia have come up with ideas on how to harness cryptocurrencies when, hopefully, they are finally legalized. The need of finding ways to circumvent sanctions on several fronts seems to be the main incentive for the ingenuity in the corridors of power in Moscow. Also read: Iran…
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$1.1 Million Landmark Crypto Fraud Case Establishes CFTC Jurisdiction
The US Commodities Futures Trading Commission (CFTC) helped bring a fraud case to court, hoping to both assist in its ultimate prosecution and establish precedent. The New York Eastern District Court decided in the CFTC’s favor, ending in a combined over $1.1 million decision in fines and restitution. It also established the regulator as having…
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China Continues Crackdown: No Hotels, Malls, Offices Used as Crypto Venues
Zheping Huang, reporter for South China Morning Post, claims to have verified authenticity of online documents urging further crackdowns by the Chinese government as they relate to cryptocurrency. Shopping malls, hotels, offices in the Chaoyang district were issued notice forbidding them from hosting crypto related events. These new prohibitions come just after crypto social media…