The European Parliament has recently given its approval to DAC8, a measure that aims to introduce tax reporting requirements for cryptocurrency transactions across the European Union (EU). With an overwhelming majority of 535 in favor, 57 against, and 60 abstentions, the proposed rule has successfully passed its final legislative hurdle and is on its way
Regulation
The recent early dismissal of BlackRock’s planned spot Bitcoin exchange-traded fund (ETF) may seem like a setback, but according to Nasdaq executive Giang Bui, it is unlikely to affect the eventual success of the product. While the rejection by the U.S. Security and Exchange Commission (SEC) was based on regulatory procedural issues, it does not
The new financial promotions regulations imposed by the UK Financial Conduct Authority (FCA) are creating significant challenges for crypto firms, according to Delphi Labs general counsel Gabriel Shapiro. In a recent post on X, Shapiro expressed his concerns about the feasibility of strict compliance with these regulations. He believes that only centralized exchanges and a
In a recent report, it has been revealed that Luna, a subsidiary of Digital Currency Group (DCG), is planning to pause certain services in the United Kingdom. This decision comes ahead of new regulations set by the U.K.’s Financial Conduct Authority (FCA) and will have a significant impact on the crypto trading features offered by
G20 leaders are taking significant steps towards the establishment of a Crypto Asset Reporting Framework. This new framework aims to collect and exchange information about the use of cryptocurrency and digital assets among G20 member countries. The primary objective behind this initiative is to ensure that individuals and entities utilizing cryptocurrency are not evading taxes.
The U.S. Commodity Futures Trading Commission (CFTC) has recently concluded a case against a South African company involved in crypto fraud. In an announcement made on September 7, the CFTC disclosed that a judge has entered a consent order against Mirror Trading International Proprietary Limited (MTI), holding the company accountable for various types of fraud.
The rapid growth of crypto-assets, including Bitcoin and stablecoins, has caught the attention of global financial regulators. The International Monetary Fund (IMF) and the Financial Stability Board (FSB) recently published a report commissioned by G20 under India’s leadership, which highlights the need for a comprehensive framework to regulate these digital currencies effectively. The report emphasizes
The South Korean government is set to introduce a new bill aimed at tracking and freezing crypto assets that North Korea is allegedly using for its weapons program, according to local media outlet Korea JonngAng Daily. This bill, if implemented, will further enhance sanctions against the neighboring nation and provide measures to monitor and mitigate
As the world continues to embrace the transformative potential of artificial intelligence (AI), governments and organizations are increasingly recognizing the need to address the ethical and safety implications associated with its development. In this regard, the government of the United Kingdom has taken a proactive stance by publishing a series of objectives for its upcoming
In a recent court case against Grayscale Investments, the SEC was dealt a blow as a federal court ruled that the agency must review its rejection of Grayscale’s proposal to convert its bitcoin trust into an ETF. The court found the SEC’s rejection to be “arbitrary and capricious” as it failed to provide a clear
