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“# Indonesia considers capital gains tax on cryptocurrency trades ” Neilmaldrin Noor, a spokesperson for the Indonesian Directorate General of Taxes, said that the authority is considering a tax scheme for capital gains generated from cryptocurrency trades, Reuters reported on Tuesday. “It is important to know that if there is a profit or capital gain generated from…
“# Turkish government to track crypto transactions over $1,200 ” Crypto exchanges with a presence in Turkey must now inform the Financial Crimes Investigation Board, or MASAK, about any crypto transactions over 10,000 Turkish liras ($1,200). Turkish Minister of Treasury and Finance Lütfi Elvan announced the new policy on a CNN Turk live broadcast last night. …
“# Indian start-up organization proposes regulatory framework for crypto ” IndiaTech.org, an industry association representing India’s consumer internet startups and investors, is backing wants to provide clear definitions for the cryptocurrency industry. On Wednesday, the association released a white paper including a policy proposal with recommendations for a regulatory framework for crypto-assets and crypto exchanges in…
“# Survey shows South Koreans support crypto tax law ” An opinion poll conducted by South Korean television station YTN has shown significant support for the planned cryptocurrency tax regime in the country. According to a report by The Korea Herald, 53.7% of the 500 participants polled by South Korea survey firm Realmeter expressed support…
“# Uzbek presidential agency proposes legalizing domestic crypto trading ” A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to…
“# County in New Jersey makes 250% profit from crypto seized in 2018 ” A county in the state of New Jersey has announced the liquidation of cryptocurrency assets seized in 2018. On Monday, the prosecutor’s office in Monmouth County announced that the confiscated crypto —initially valued at $57,000 at the time it was seized —…
“# Five proposed crypto class actions in NY over unregistered securities dismissed ” Five proposed class-action lawsuits against crypto firms have been voluntarily dismissed without prejudice in New York federal courts — without costs or attorney fees to any party. Quantstamp, Status Research, Civic Technologies, HDR Global Trading, and Kaydex are off the hook, however…
“# Ransomware task force calls for aggressive Bitcoin transaction tracing measures ” Government and industry have teamed up to fight a major increase in ransomware, with a newly formed ransomware task force calling for new measures to more aggressively trace Bitcoin and crypto capital flows. The task force includes law enforcement including FBI and U.S….
“# Crypto tax in South Korea is ‘inevitable’ in 2022, says minister ” Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year. “It’s inevitable, we will need to impose taxes on gains from…
“# Irish crypto firms must comply with money laundering laws for the first time ” Ireland’s crypto businesses have become subject to regulatory oversight for the first time, with local digital asset firms now observing anti-money laundering guidelines set out by the European Union, or EU. The EU’s Fifth Anti-Money Laundering Directive, or 5AMLD, was…