A Dubai government authority has announced that it is launching a crypto valley in the country’s free zone there is no personal or corporate income tax. With the help of its partners from the Swiss crypto valley, Dubai will offer a variety of services such as incubation for startups, coworking facilities, blockchain training, education, events, […]
India’s Prime Minister Narendra Modi has awarded a young entrepreneur for her cryptocurrency price tracking application while the government is still deliberating on the country’s crypto policies. News.Bitcoin.com caught up with the award recipient to find out more about her app. Meanwhile, the Reserve Bank of India (RBI) is being challenged in the supreme court […]
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Switzerland’s principal stock exchange, SIX Swiss Exchange, now has 12 cryptocurrency exchange-traded products listed. The latest addition, the 21shares Short Bitcoin, allows investors to profit from falling prices of the digital currency. Other listed crypto products include those that track the price movements of BCH, BTC, ETH, XRP, BNB, and tezos. Also read: Regulatory Roundup […]
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The Iranian government has reportedly issued more than 1,000 licenses for cryptocurrency mining since it began regulating the industry. A number of large mining farms have set up in the country, but high electricity tariffs have kept many small investors away. Also read: Regulatory Roundup — New US Crypto Tax Bill, Central Banks Join Forces […]
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Hundreds of customers went on a withdrawal spree after an Indian bank announced its revised KYC requirements. The bank’s action followed the decision by the Reserve Bank of India (RBI) to include the National Population Register letter as a valid KYC document for opening bank accounts. Customers are worried their funds could be frozen. Also […]
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India’s supreme court heard the crypto case on Thursday, starting with the arguments by the counsel for the Reserve Bank of India (RBI). After pointing out that the RBI ban only hurts crypto businesses but does not stop crypto trading, the court explained that “being an honest contributor to the blockchain is more profitable than […]
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In this roundup, we cover an exceptionally busy week for crypto regulations around the globe. We start our coverage with the U.S. Virtual Currency Tax Fairness Act of 2020, actions by the SEC, Ripple’s lawsuit, India’s supreme court hearings, Australia green-lighting a bitcoin retail fund, Thailand approving a new crypto exchange, and new crypto guidelines […]
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India’s supreme court spent all day on Wednesday hearing extensive arguments from both the counsel representing crypto exchanges and the central bank, the Reserve Bank of India (RBI). The counsel for the central bank confirmed again that cryptocurrency is not banned in India, but still justifies the banking restrictions on the crypto industry. Also read: […]
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The Reserve Bank of India (RBI) has confirmed that cryptocurrency is not banned in India. During the latest supreme court hearing of the crypto case, the central bank’s reply to the Internet and Mobile Association of India was read out in detail. The RBI clarified that it only fenced in the entities it regulates, such […]
A Centre of Excellence in Blockchain Technology has been inaugurated by Indian Union Minister Ravi Shankar Prasad in Bengaluru. It will facilitate various government departments in their blockchain work, leading to large scale deployment of blockchain applications. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia New ‘Centre of Excellence in […]
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Venezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in the casino. The proceeds are expected to be used for healthcare and […]
A bill has been introduced in the U.S. state of Oklahoma to establish a new type of state-chartered financial institution that will be “the central depository for virtual currency used by governmental agencies in this state.” The new establishment aims to provide financial and technical services to crypto innovators and developers. Also read: Regulatory Roundup: […]
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The Securities Commission Malaysia has published the country’s guidelines on digital assets which set out the regulatory framework for token sales. All token offerings must now be carried out only through platforms approved by the commission. The guidelines also detail the obligations of approved platforms as well as the requirements token issuers must meet. Also […]
The Organisation for Economic Cooperation and Development, an intergovernmental body with 36 member countries, has formed “a high-level expert group” which includes executives from the crypto industry. They will provide advice in helping develop international blockchain policy principles. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia ‘High-Level Expert Group’ Formed […]
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The Financial Action Task Force (FATF) and over 50 delegations involved in crypto supervision recently gathered to discuss how to regulate crypto assets and related service providers. While examining three key areas, they stressed the importance of international cooperation, citing that cryptocurrencies are global products. Also read: Regulation Roundup: EU-Wide Crypto Regulations, New Rules in […]
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India’s supreme court heard the crypto case in detail over three consecutive days this week. In addition to intense arguments against the central bank having the power to ban crypto, the judges learned how other countries regulate this new sector, the amended EU directive, the FATF guidance, and less invasive crypto measures. Also read: Regulatory […]
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Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply to crypto transactions. Also read: Regulatory Roundup: EU-Wide Crypto […]
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U.S.-based Silvergate Bank has launched a bitcoin collateralized loan product with Bitstamp as its launch partner. The crypto exchange will act as the bank’s agent to manage and provide custody for bitcoin collateral. The product utilizes Silvergate Bank’s Exchange Network to fund loans and process repayments in real time. Also read: Regulatory Roundup: EU-Wide Crypto […]
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India’s supreme court spent all day hearing arguments against the crypto banking ban by the Reserve Bank of India (RBI) on Wednesday. The counsel for the Internet and Mobile Association of India presented extensive arguments to convince the court that the central bank acted outside its jurisdiction and power in placing a banking restriction on […]
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In this roundup, we cover EU-wide crypto regulations and individual countries’ new digital asset rules including Austria and the U.K. We also cover numerous crypto regulatory developments in the U.S., China, Japan, South Korea, India, and the Philippines. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws EU-Wide Crypto Regulations Begin […]
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Japanese Minister Naokazu Takemoto and Philippine Cabinet member Raul Lambino of Crypto Valley of Asia recently met to discuss Asian countries’ crypto regulations. They urge the Philippine Congress to introduce legislation on cryptocurrencies and security tokens, calling for cooperation among Asian countries. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws […]
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Several regulators in the U.S. and Europe have made cryptocurrency among their top priorities this year. The Securities and Exchange Commission’s compliance office and the European Securities and Markets Authority, in collaboration with other regulators, have outlined their plans to focus on crypto oversight. Further, China’s central bank has made digital currency a priority. Also […]
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The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws EU’s Regulatory Deadline: Jan. […]
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The Philippines has a “Crypto Valley of Asia,” an initiative of the Cagayan Economic Zone Authority, the government agency responsible for managing the Cagayan Special Economic Zone and Freeport. An airport is now being planned for inside this economic zone to address the needs of its investors and crypto service providers. Many cryptocurrency exchanges have […]
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