India’s former Finance Secretary Subhash Chandra Garg has shared his views on the future of cryptocurrency, both in India and worldwide. He headed the committee responsible for drafting the infamous bill to ban cryptocurrencies, which the crypto community calls flawed in many regards. Also read: Regulatory Roundup – China Blockchain ETF, New French Crypto Rules,...Read More
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency. Also read: Regulatory Roundup...Read More
In this roundup, we cover Russia’s supreme court recognizing tokens as assets like money and property, France’s new crypto regulatory framework, and several industry developments in China, including a blockchain ETF filing. We also cover Japan’s world conference for decentralized financial governance, Uzbekistan’s crypto ban, and four countries’ central bank digital currency updates. Also read:...Read More
The Indian crypto community has had an eventful year, with a bill on the horizon, the RBI ban’s supreme court hearing, and the community’s efforts toward positive crypto regulation. News.Bitcoin.com interviewed Nischal Shetty, CEO of local crypto exchange Wazirx, about what the Indian crypto industry could expect in the year 2020 and a wide range...Read More
The National Power Training Institute, under India’s Ministry of Power, is offering blockchain training in multiple cities throughout the country. Participants will learn about blockchain technology, its use cases, smart contracts, Ethereum, cryptocurrency, Bitcoin, and even mining. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto National Training Institute’s...Read More
Four financial regulators in China have jointly issued a fresh warning regarding crypto trading activities in Beijing. The notice explains the reason for the warning and lists prohibited crypto activities, which have reportedly been surging as companies ramp up their blockchain promotion. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO,...Read More
The Shenzhen Stock Exchange has launched a blockchain index comprising 50 of the largest publicly listed companies with blockchain ventures by market capitalization. Blockchain-related stocks in China have been gaining value since President Xi Jinping openly advocated for the technology. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto...Read More
Following the consensus reached at the G20 leaders’ summit on the importance of discussing better governance for the decentralized financial ecosystem, Japan’s top financial regulator is hosting a global blockchain conference to discuss the subject. The regulator is welcoming stakeholders from around the world to participate, including other regulators, open-source software developers, university researchers, and...Read More
Banking services platform Cashaa has seen significant growth in crypto trading volume in India since it began offering INR deposits and withdrawals. The platform has cut its fees by more than 50% and is getting ready to add five more cryptocurrencies for users in India, Cashaa has shared with news.Bitcoin.com. Also read: Regulatory Roundup –...Read More
Germany’s second-largest stock exchange and a major financial services group in Japan have partnered to expand their crypto operations in Europe and Asia. Boerse Stuttgart recently launched its crypto trading platform while SBI has been expanding its crypto business operations for several years. Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines...Read More
A U.S. district judge has ruled that former intelligence contractor Edward Snowden must turn over the proceeds of his new book to the U.S. government. According to the ruling, Snowden failed to obtain clearance for the materials and information used in his book. The same judge previously ruled against Kim Dotcom and Megaupload. Also read:...Read More
At a summit attended by leaders of Muslim countries, including Malaysia, Turkey, Iran, Qatar, and Indonesia, the Iranian president proposed creating a Muslim cryptocurrency to cut reliance on the U.S. dollar. The Malaysian prime minister supports the idea of a unified cryptocurrency for Muslim countries. Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings,...Read More
Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Also read: Crypto...Read More
Crypto trading platform Erisx has launched a bitcoin futures market regulated by the U.S. Commodity Futures Trading Commission (CFTC). Its physically settled bitcoin futures contracts trade alongside its spot market which supports four cryptocurrencies. Erisx has obtained a license from the U.S. Financial Crimes Enforcement Network (FinCEN) and is currently approved to operate in 44...Read More
Fidelity Investments is expanding its crypto services to European clients after seeing increasing potential in this market. The expansion builds upon the company’s U.S. crypto business. “We’ve seen significant interest and engagement by the institutional community, which show no signs of slowing,” the company revealed. Also read: Regulatory Roundup – Crypto ‘Inevitable’ in India, China...Read More
A growing number of banks in Germany are charging retail customers negative interest rates, starting with the very first euro deposited into their accounts. At least three German banks are reportedly doing so, with more expected to follow suit in the near future. As the European Central Bank maintains a negative rate policy, more banks...Read More
Indian Parliament member Dr. Subramanian Swamy has shared his view on cryptocurrency. Advocating for India to make the transition to crypto, he reportedly said, “cryptocurrency is inevitable.” The lawmaker will chair a conference at the UN India’s headquarters next week where issues surrounding cryptocurrency in the country will be discussed. Also read: Regulatory Roundup –...Read More
At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins. Also read: Regulatory Roundup –...Read More
Croatian Post, the biggest provider of postal services in the Republic of Croatia, is now offering a cryptocurrency exchange service at 55 post offices throughout the country. Currently, five cryptocurrencies are supported. This follows a successful implementation and positive results of a pilot program at a few branches. The Post found interest in this service...Read More
Croatian Post, the biggest provider of postal services in the Republic of Croatia, is now offering a cryptocurrency exchange service at 55 post offices throughout the country. Currently, five cryptocurrencies are supported. This follows a successful implementation and positive results of a pilot program at a few branches. The Post found interest in this service...Read More
The tax authority of Denmark has reportedly sent out warning letters to 20,000 crypto owners asking them to amend their tax returns, pay taxes on crypto gains, or face penalties. The tax agency is demanding a full breakdown of their crypto transactions; it recently obtained information on these traders from three local crypto exchanges. Also...Read More
Bakkt has launched two new regulated bitcoin derivatives products. Within hours of launch, Bakkt announced that over 1,000 futures contracts had been traded in Asia. The platform now offers four types of regulated bitcoin derivatives products: monthly and daily physically delivered bitcoin futures, cash settled bitcoin futures, and options on monthly bitcoin futures. Also read:...Read More
China’s Center for Information and Industry Development has published its year-end crypto project rankings. Thirty-five projects were evaluated and ranked overall as well as in three separate categories. Bitcoin has risen in ranking while EOS remains China’s favorite. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain Year-End Crypto Rankings The Center...Read More
The U.S. Internal Revenue Service (IRS) has finalized and put in use a new tax form that requires crypto owners to declare whether they received, bought, sold, exchanged, or acquired any cryptocurrencies in 2019. Tax experts are frustrated at the vagueness of the tax agency, with some questioning whether the answers would increase the chances...Read More
Deutsche Bank analysts have made some predictions regarding the future of cryptocurrency. Strategist Jim Reid explained why cryptocurrencies are inevitable and how the existing fiat money system could crumble over the next decade, leading to soaring demand for cryptocurrencies. Also read: Swiss Licensed Crypto Bank Expanding Into 9 Markets ‘The End of Fiat Money?’ –...Read More
The U.S. Securities and Exchange Commission (SEC) has approved an investment fund that will invest in bitcoin futures contracts. SEC Commissioner Hester Peirce calls this move “a bit of progress.” The SEC has also revealed why it decided to approve such a fund. Also read: Swiss Licensed Crypto Bank Expanding Into 9 Markets Bitcoin Futures...Read More
Germany’s second-largest stock exchange, Boerse Stuttgart, has opened up its cryptocurrency trading platform to all interested traders in the country. This move follows the passing of a bill allowing banks in Germany to sell and hold cryptocurrencies for their clients starting next year. Also read: Regulatory Roundup — Germany to Let Banks Sell and Store...Read More
There are several exemptions the U.S. Securities and Exchange Commission (SEC) offers that allow companies to launch their bitcoin investment products without registration. While waiting for the SEC to approve their bitcoin ETF, some firms have taken advantage of these exemptions to offer an interim product. Also read: Indian Government’s New Report Views Crypto Positively...Read More
A new Indian government report has put cryptocurrency in a positive light, viewing the mechanisms surrounding it, including initial coin offerings, as “revolutionizing the global fintech landscape.” The report also discusses the regulation of coins and tokens. Also read: Indian Exchanges Innovate as Calls for Positive Crypto Regulation Escalate Steering Committee’s Report The Indian Ministry...Read More
The central bank of the Netherlands is preparing to supervise the country’s crypto sector. The bank has requested crypto exchanges and wallet providers to come forward and submit some information. Once the law takes effect, these operators will be required to register with the central bank to continue operations. Also read: Crypto Can Boost Indian...Read More
