Regulation

It’s here! The United States tax season officially started on Jan. 27, and this time, crypto tax is in the spotlight. Following developments that culminated in theInternal Revenue Service publishing new guidance in October 2019, the bureau has begun to invest efforts in cryptocurrency tax reporting and investigation and is expecting to see an increase
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Swiss regulators have given the go-ahead for what is purportedly the country’s first fully compliant initial public offering (IPO) on a blockchain. Swiss blockchain firm Overture will launch a compliant IPO and offer ordinary class-A shares natively on the Ethereum blockchain, using smart contracts provided by Zug-based EURO DAXX (the European Digital Assets Exchange), a
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Legislation regulating the operations of cryptocurrency firms in Singapore comes into effect today, Jan. 28. The new Payment Services Act will regulate cryptocurrency payments and trading enterprises under some aspects of the regulatory regime that currently governs traditional payment services and require them to hold a license. Crypto payment services must also comply with the
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U.S.-based crypto exchange and custodian Gemini has finished a SOC 2 Type 2 evaluation, proving the operation’s security. “The Type 2 is the highest level of security compliance that any organization can demonstrate,” Gemini’s head of risk, Gemini Yusuf Hussain, told Cointelegraph in an interview about the Jan. 23 announcement. Compliance focus In preparation for
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The Australian Prudential Regulation Authority (APRA) is seeking to oversee stablecoin projects like Facebook’s controversial stablecoin Libra. In an official proposal to the Senate published on Jan. 20, APRA submitted a possible regulatory framework dedicated to fintech and regulatory technology (regtech) covering topics ranging from digital wallets to data protection.  The proposed framework, “is intended
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South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions. According to a report published by local English-language news outlet The Korea Times on Jan. 20, the ministry had reportedly ordered its income office to review cryptocurrency taxation. The Korea Times cited an anonymous official who reportedly
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Thailand’s securities regulator has granted a coveted digital assets exchange license to Asia-Pacific crypto-fiat trading platform Zipmex. According to a press release shared with Cointelegraph on Jan. 20, Thailand’s Ministry of Finance and the Thai Securities and Exchange Commission (SEC) approved Zipmex for the license, which places strict regulatory requirements on applicants. To secure the
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Canadian authorities have issued new guidance to determine which digital currency trading platforms fall under derivatives law. The Canadian Securities Administration (CSA) explained new provisions in the “Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets” published on Jan. 16.  In general, the agency drew a line between trading
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