U.S. Treasury Unveils Proposed Crypto Tax Reporting Rules; brokers redefined
Per the proposed legislation, brokers would be defined to encompass platforms, payment processors and certain hosted wallets.
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Latest firstEx-Chinese Official Receives Life Sentence for BTC Mining-Related Crime
Key Takeaways A former government official in China has been sentenced to life imprisonment for engaging in corrupt activities, including running a sizable Bitcoin mining operation, along with unrelated charges of corruption. Xiao Yi, a former member of the Jiangxi…
Crypto Advocacy Group Coin Center Proposes Tax Reforms for Digital Assets
Key Takeaways Coin Center, a leading cryptocurrency advocacy group, has proposed a series of recommendations to American lawmakers, aiming to influence potential legislation concerning the taxation of digital assets. In an official letter dated August 21, addressed to Senators Ron…
Monetary Authority of Singapore Introduces Regulatory Framework for Single-Currency Stablecoins
To get "MAS-regulated" status, stablecoins should provide monthly submission of independent attestations of their reserves to the central bank
Brazil To Levy Higher Taxes on Crypto Held Overseas
The legislation will impose taxes on profits derived from fluctuations in cryptocurrency values compared to Brazil's official fiat currency
Oman Regulators Seek Input on Proposed Virtual Asset Framework
Oman is getting closer to implementing its virtual asset rules; the body in charge of the financial markets is now looking for feedback from the general public.
India Proposes Roadmap for Global Crypto Framework
India endorsed the Financial Stability Board's recommendations for the global crypto framework, released in July.
30+ Crypto Mining Servers Seized in Borneo Amid Rising Electricity Thefts
Sarawak expressed its commitment to combat electricity theft and is closely collaborating with agencies such as the Ministry of Utility and Telecommunication as well as the police.
Australia’s Bendigo Bank follows CBA’s footsteps; Blocks High-Risk Crypto Payments
Key Takeaways In a bid to safeguard its 2.3 million customers from potential investment scams, Bendigo Bank, one of Australia’s leading financial institutions, has taken decisive action to block high-risk cryptocurrency payments. Following the footsteps of three of the nation’s…
US Banking Group Supports Senator Warren’s Reintroduced Crypto Bill
Senator Warren has introduced legislation that would subject digital assets to specific Anti-Money Laundering (AML) regulations.