Financials

China is experiencing a crypto cleansing, as the government appears keen on purging the country of all traces of cryptocurrencies. While several reasons could account for this sudden focus on digital assets, an official with the government recently shed light on illegal activities that they enable. Casinos and Illegal Gambling Sites are the …

Continue ReadingChinese Government Identifies $14.5 Billion in Cash Laundered Through Crypto

Cryptocurrency legislation in the United States has been a long, hard-fought battle with nary an end in sight. However, the industry saw some significant progress on that front earlier this week, as Congress appears ready to anoint permanent industry regulators. On Thursday, the United States House of Representatives welcomed two crypto-related bills on …

Continue ReadingCongress Introduces Two Fresh Crypto Regulation Bills 

With cryptocurrencies becoming more prominent almost by the day, several countries and financial regulators have turned their attention to providing effective regulation. In Israel, some lawmakers have proposed a new regulatory regime that could entirely transform their tax requirements and implications. Currencies, Not Assets Earlier this week, local news source Globes reported that …

Continue ReadingIsraeli Lawmakers Propose Change to Cryptocurrencies’ Legal Tax Status

The Russian government has continued on a steady path towards legitimizing its cryptocurrency industry. The next frontier on the Kremlin’s mission appears to be tax enforcement, and the Ministry of Finance is laying out procedures to punish offenders.  Fines and Prison Term Await Earlier today, local news source Kommersant reported that the Russian …

Continue ReadingRussia Proposes New Penalties for Crypto Tax Defaulters

US banking regulator recently authorized federal banks in the country to hold stablecoin reserves. A Monday letter from the US Office of the Comptroller of the Currency (OCC) has signaled towards a new range of crypto related changes for national banks. What does the letter say? The letter reads, “We conclude that …

Continue ReadingUS Federal Banks Can Now Hold Stablecoin Reserves

Regulators in 49 US states have proposed a unified new regulation for crypto firms in the country. The Conference of State Bank Supervisors, which represents regulators from states and territories of the US launched this regulatory framework for crypto and payment companies. Regulators move forward for regulations Regulators in 49 US states …

Continue Reading49 US States Propose Unified Regulation for Crypto Firms

Blockchain technology continues to make strides in applications, as both private companies and governments have made commitments to exploring it. In South Korea, a government official is now pushing to accept a voting system underpinned by the technology. Democracy Should Catch Up with Technology Yesterday, local news source UpDown Korea reported that …

Continue ReadingSouth Korean Government Official Proposes Blockchain-Based Voting System