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“# South Korea financial authority rules that NFTs are taxable ” South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won…
“# US Senator Pat Toomey supports digital dollar, nomination of Powell as Fed chair ” Pennsylvania Senator Pat Toomey, one of the lawmakers who supported amending the language around crypto in the recently passed infrastructure law, said the United States should lead the world in the adoption of a central bank digital currency, or CBDC….
“# Fed conducted ‘policy sprints’ around crypto assets to address regulatory clarity ” The United States Federal Reserve is planning to address ambiguities that they feel are plaguing digital asset regulation in the country following rapid analyses by government agencies. In a Tuesd announcement, the Board of Governors of the Federal Reserve System said it…
“# Indian parliament’s agenda for winter session includes bill on banning ‘private cryptocurrencies’ ” The Indian government will be considering a bill that would create a digital rupee starting as early as next week, but may also ban certain cryptocurrencies in the country. According to a Tuesday publication, India’s lower house of parliament, Lok Sabha,…
“# Commonwealth Bank of Australia recognizes risks in missing out on crypto ” Matt Comyn, the CEO of the Commonwealth Bank of Australia (CBA), said that the bank is more concerned about the risks of missing out on crypto than those associated with its adoption. The CBA is set to become the first of the…
“# Proposed tightening of Australian crypto regulations could stifle competition: Kraken ” With crypto regulation reportedly set to ramp up in Australia over the next 12 months, Kraken Australia’s Managing Director Jonathon Miller thinks that a strict crypto regime could stifle local competition. The Senate Committee on Australia as a Technology and Financial Center, led…
“# VanEck’s Bitcoin spot ETF shunt solidifies SEC’s outlook on crypto ” Bitcoin (BTC) has been on an impressive price run since the announcement of the United States Securities and Exchange Commission’s approval of ProShares’ Bitcoin futures exchange-traded fund (ETF) early in October, hitting a new all-time high of over $69,000 on Nov. 10, as…
“# Bitcoin bulls in City Hall: Meet America’s crypto mayors ” As 2021 comes to a close, Bitcoin (BTC) has had a tumultuous ride this year, with wild price swings that have seen the pioneer cryptocurrency hit all-time highs only to retrace to lower prices — including a 50% drop that shook the market. Now,…
“# Reserve Bank warns Aussies over punting on ‘fad driven’ cryptocurrencies ” The Reserve Bank of Australia (RBA) has warned Aussie investors about speculating on digital assets as it casts doubt over the entire crypto sector. During a Nov. 18 address to the Australian Corporate Treasury Association, the RBA’s head of payments policy Tony Richards…
“# US lawmakers introduce bill to ‘fix’ crypto reporting requirement from infrastructure law ” A bipartisan group of United States lawmakers has introduced legislation to change the tax reporting requirements that will go into effect due to the recently signed infrastructure bill. House Representatives Patrick McHenry and Tim Ryan introduced the Keep Innovation in America…