While the focus may be on the U.S. of late, cryptocurrency tax issues are becoming a global problem.
India, for example, has responded by sending tax notices to crypto traders and investors after a survey found $3.5 billion in transactions may have been performed by citizens over the past 17 months.
Blockchain’s future growth in China will rely on well-designed regulatory and standardization frameworks in the country, according to industry experts.
At the 2018 Bo’Ao Forum for Asia in China’s Hainan province on Tuesday, speakers including Chen Lei, CEO of cloud network provider Xunlei, and Li Lihui, who heads the Blockchain Research Working Group at China’s National Internet Finance Association (NIFA), discussed the latest blockchain developments in China, as well as the tech’s future prospects.
Regulators in the Philippines are considering new rules for cryptocurrency exchanges and initial coin offerings (ICOs).
Speaking at a news conference on Tuesday, the country’s Securities and Exchange Commission (SEC) commissioner Emilio Aquino said that his agency could class ICO offerings as “possible securities” under the Securities Regulation Code, a Manila Times report said.
If you’ve been following cryptocurrency news the past week, then you must have heard of the Florida Localbitcoins trader who is now facing felony charges for money laundering and running an illegal money service business.
India could be making a U-turn on its directives for cryptocurrencies. Per reports from the New India Express, a second interdisciplinary committee set up by the Indian government is considering making cryptocurrencies legal in the country again but with more stringent rules.
This revelation comes just a few months after a government panel suggested the creation of a new regulatory framework within the Reserve Bank of India (RBI) that bans digital assets and declares crypto transactions illegal in India.
2018 has been a hallmark year for the U.S. Securities and Exchange Commission (SEC)’s enforcement against cryptocurrency companies, and, according to one director, international collaboration with other regulatory agencies has played a supporting role in the SEC’s recent regulatory actions.
Having met the U.S. Securities and Exchange Commission (SEC) in August 2018, officials of VanEck, SolidX and Cboe BZX Exchange have met with the Commission again, in the latest attempt to convince the regulator to approve the nation's first bitcoin exchange-traded fund (ETF), according to an official presentation submitted to the SEC.
On November 27, 2018, a California judge turned back the SEC’s request for an injunction against token company BlockVest, a company the U.S. Securities and Exchange Commission (SEC) is pursuing for allegedly conducting an unregistered securities offering. The judge, however, ruled that BlockVest’s token distribution, which was conducted via airdrop, was given freely and received without expectation for returns, so it didn’t constitute an investment contract.
Speaking at the ongoing CoinDesk's Consensus Invest conference in New York, U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton spoke on why his agency hasn’t yet approved a bitcoin exchange traded fund (ETF). But the rationale behind his words is nothing his crypto-friendly audience hasn’t heard before.
Clayton explained that his agency might not approve a bitcoin ETF anytime soon as the agency's issues are yet to be addressed by market operators.
Amun AG, a startup in Zug, Switzerland, has received a license from Swiss authorities to offer a new cryptocurrency exchange-traded product (ETP).
An ETP is a blanket term to denote a security that derives its price from an underlying asset (e.g. a currency, commodity, stock) and is traded on a regulated stock exchange.
Gabor Gurbacs is confident that the approval of a bitcoin exchange traded fund (ETF) is inevitable. And he’s optimistic that the VanEck SolidX Bitcoin Strategy will be the first to deliver one to the world.
The director of Digital Asset Strategy at VanEck/MVIS, Gurbacs, as of late, has become a leading voice on the space’s ETF pursuit at a time when industry chatter on the topic has never been louder. If you haven’t found him extolling the benefits of a bitcoin ETF on Twitter, you may have come across his interviews on Anthony Pompliano’s podcast and Ran Neu-Ner’s Crypto Trader show for CNBC Africa.
The U.S. Securities and Exchange Commission (SEC) has agreed to settle charges with two startups that sold tokens through Initial Coin Offerings (ICOs) in 2017. The companies were charged by the SEC for running their ICOs after the regulator clearly defined such offerings as unlicensed securities in its DAO Report of Investigation. The startups indicted by the SEC are Boston-based Airfox, which sold $15 million worth of tokens, and Paragon Coin, which raised $12 million selling tokens.
Today, November 14, 2018, the New York State Department of Financial Services (DFS) announced that it has approved the application of NYDIG Execution LLC, a subsidiary of NYDIG LLC, for a virtual currency license and a money transmission license. The approval of this so-called “BitLicense” or “Virtual Currency License” application is the 14th of its kind and is required under New York State law in order for a company to engage in “any Virtual Currency Business Activity.
In an apparent first, the U.S. Securities and Exchange Commission (SEC) has charged the founder of EtherDelta, Zachary Coburn, with running an “unregistered national securities exchange,” according to a press release from the regulator.
“EtherDelta provided a marketplace for bringing together buyers and sellers for digital asset securities through the combined use of an order book, a website that displayed orders, and a ‘smart contract’ run on the Ethereum blockchain,” the agency noted.
The U.S. Securities and Exchange Commission (SEC) has released a report detailing actions taken against fraudulent ICOs and financial ventures, and, indeed, the year has been wrought with cases. The report details actions for 2018’s fiscal year, which ended on September 30, and offers insight into the ICO-related fraud that has seemingly come to light over the past several months.
The Securities and Futures Commission (SFC) of Hong Kong has claimed that it will include crypto funds under its regulatory umbrella.
The SFC issued a statement on November 1, 2018, laying out its new approach for regulating virtual assets in the future.
Agents of the Indian government have met to formally discuss a possible ban on private cryptocurrency holdings in the nation.
On October 30, 2018, the Financial Stability and Development Council (FSDC) issued a press release detailing their recent meeting where they “reviewed the current global and domestic economic situation and financial sector performance.
So far, China’s attitude towards digital currencies was oppressive, yet the country encouraged blockchain innovation. It seems like things are now changing. Recent reports indicate that China’s government has drafted a new regulation that requires users to register for blockchain services with their names and government IDs.
Discouraging Blockchain Anonymity
The first draft for the project was released by the country’s online regulator, the Cyberspace Administration of China.
Japan’s Financial Services Agency (FSA) has granted self-regulatory status to the country's cryptocurrency industry, giving the Japan Virtual Currency Exchange Association (JVCEA) authority to oversee the space, according to a Reuters report.
The FSA approval, which was granted on Wednesday, October 24, 2018, gives the association the power to regulate the sector, safeguard customer assets, give operational guidelines, elaborate on anti-money laundering policies and provide necessary compliance guidelines for crypto exchanges in the country.
The Securities and Markets Stakeholder Group (SMSG) has released a new report suggesting that the European Securities and Markets Authority (ESMA) recommend to the European Commission that it regulate the cryptocurrency space with existing legislation rather than instilling new rules and laws.
The report specifies that most crypto assets are covered by the Unfair Commercial Practices Directive, which regulates unfair business practices in the European Union and requires corresponding laws to be passed that incorporate it into each member state’s legal system.
Ever since the U.S. Securities and Exchange Commission (SEC) issued a stern warning about initial coin offerings (ICOs) in February 2018, cryptocurrency projects have had to consider different options for distributing their tokens — and funding their development.
One alternative for dispersing a token is an airdrop, where tokens are given out (for free) to the holders of an existing cryptocurrency.
With the exception of the SEC’s FinHub announcement, it has been a quiet week for regulatory news — something we’ve been getting a lot of recently as U.S. officials clamp down on unscrupulous coin offerings and crypto companies.
Кто знает подойдет ли этот кошелек для постоянного приема в сатоши? Я просто майнить не решился, но написал несколько ботов для того, чтобы они собирали с кранов монеты. Я так понял, что это веб-кошел...