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“# India’s crypto tax provides little legal clarity for traders and exchanges ” Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a tax proposal that would bring the relatively unregulated digital asset space under the purview of tax authorities. The proposal includes a 30% income tax on crypto returns and a 1% tax deducted…
“# RCMP asks crypto exchanges to halt trading for wallets connected to truck convoy protests ” As reported by Canadian news outlet The Globe and Mail, the Royal Canadian Mounted Police (Canada’s federal police force) sent letters to several cryptocurrency exchanges demanding that they “cease facilitating any transactions” with more than 30 specific cryptocurrency wallet…
“# Colorado governor says he expects state to accept tax payments in crypto by summer ” Jared Polis, the governor of Colorado, has announced that the state government plans to allow residents to pay taxes in cryptocurrencies as early as summer 2022. In a Tuesday CNBC interview, Polis said crypto holders in Colorado could have…
“# ‘Keep Your Coins’ bill introduced to restrict government control of crypto ” Ohio’s eighth district congressman Warren Davidson has introduced the “Keep Your Coins” bill in the House of Representatives to protect individuals’ self-custodied crypto wallets from U.S. government agency control. The introduction on Feb. 15 comes just a day after the Canadian government…
“# Concerns over Fed nominee may stop Senate from confirming Biden’s picks: Report ” Members of the U.S. Senate Banking committee have reportedly divided along party lines regarding President Joe Biden’s pick of Sarah Bloom Raskin as vice chair for supervision for the Board of Governors at the Federal Reserve. According to a Tuesday report…
“# US lawmaker introduces bill for government-backed insurance of ‘qualified’ stablecoins ” House Financial Services Committee member and New Jersey Representative Josh Gottheimer has introduced legislation that would have the Federal Deposit Insurance Corporation back stablecoins in a manner similar to fiat deposits. In a draft of the Stablecoin Innovation and Protection Act of 2022…
“# Digital ruble trial goes live as Bank of Russia insists on Bitcoin ban ” Amid more reports on the Bank of Russia rejecting the Finance Ministry’s proposal of cryptocurrency regulation, the central bank has kicked off trials of its own digital currency. The Russian central bank has officially launched the digital ruble trial, successfully…
“# Belarus president signs decree to support free circulation of crypto ” Belarusian President Alexander Lukashenko has signed a decree affirming the country’s formal support of free circulation of cryptocurrencies like Bitcoin (BTC). Lukashenko’s press office announced Monday that the president has signed a decree named “On the register of virtual wallet addresses and the…
“# Russian ministry wants to legalize Bitcoin mining in specific areas ” While the Russian government continues to work out a regulatory regime for digital assets, a federal ministry has made another proposal regarding the crypto mining industry. Russia’s Ministry of Economic Development has greenlighted the concept of crypto mining regulation in the country, proposing…
“# El Salvador’s Bitcoin Law: Understanding alternatives to government intervention ” Last year, El Salvador dominated headlines as the first country to adopt Bitcoin as legal tender. The move is controversial both in and outside of the country, heralded for its potential to bring financial services to large portions of El Salvador’s unbanked population and…