The European Parliament has recently passed a crucial measure known as DAC8, which is set to introduce tax reporting requirements for cryptocurrency transactions across all European Union (EU) member states. With a resounding majority of 535 in favor, 57 against, and 60 abstentions, the proposed rule has successfully overcome its final legislative hurdle and is
Regulation
The recent dismissal of BlackRock’s spot Bitcoin ETF may have caused concerns among investors. However, Nasdaq executive Giang Bui assures that this setback should not dampen the eventual success of the product. Bui emphasizes that the rejection was primarily due to regulatory procedural issues rather than an indication of the ETF’s viability. This article delves
The crypto industry is facing a significant regulatory hurdle with the new financial promotions regulations introduced by the U.K. Financial Conduct Authority (FCA). While these regulations aim to protect investors, they pose numerous challenges for most crypto firms. This article will analyze these challenges and shed light on the potential implications for the industry. According
The U.K.’s Financial Conduct Authority (FCA) has introduced new regulations that will significantly impact how cryptocurrency companies operate and advertise their services. As a result, Luna, a subsidiary of Digital Currency Group (DCG), has announced its plans to temporarily pause certain services in the U.K. This article will delve into the details of these changes
G20 leaders are taking decisive steps towards establishing a Crypto Asset Reporting Framework, aimed at collecting and sharing information about the use of cryptocurrency and digital assets. This framework would serve to ensure that individuals utilizing cryptocurrencies are not evading taxes. The urgency surrounding this plan is evident in the G20 leaders’ call for swift
The rapid growth of crypto-assets like Bitcoin and stablecoins has raised concerns regarding financial stability and integrity risks. To address these concerns, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published a report commissioned by G20. The report outlines a comprehensive framework for regulating crypto-assets and provides policy recommendations to help
The U.S. Commodity Futures Trading Commission (CFTC) recently made a significant announcement regarding a South African company’s involvement in cryptocurrency fraud. The CFTC revealed that Mirror Trading International Proprietary Limited (MTI) has been found liable for various types of fraud, following a judge’s entry of a consent order. This order not only holds the company
The government of the United Kingdom recently released a set of objectives for the upcoming AI Safety Summit, scheduled to take place on November 1-2 at the historic Bletchley Park. These objectives, published by the Department for Science, Innovation & Technology, aim to guide discussions during the summit and promote safe and responsible development of
After years of speculation and anticipation, the possibility of a Bitcoin Exchange-Traded Fund (ETF) being approved in the United States seems more likely. In a recent interview with CNBC, former Securities and Exchange Commission (SEC) chair Jay Clayton shared his insights on the subject. While Clayton acknowledged the SEC’s cautious approach to Bitcoin ETFs, he
The South Korean government is taking a crucial step towards combating North Korea’s use of crypto assets for its weapons program. According to Korea JonngAng Daily, the government plans to submit a bill that will allow them to track and freeze these illicit funds. This bill was initially introduced by the National Intelligence Service in