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” India cooperates with IMF on crypto consultation paper “ The Department of Economic Affairs of India is finalizing a consultation paper on crypto currencies, which then will be handed over to the federal government. The implementation of the document could bring the country of 14 billion people closer to the international regulatory consensus on…
” Chinese state media signals tighter crypto regulations in Terra aftermath “ The China state-owned media outlet, the Economic Daily, has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. In an article published May 31, the outlet detailed the collapse of…
” Aussie consumer group calls for better crypto regs due to ‘lagging laws’ “ Australian consumer advocacy group CHOICE has called on the federal government to provide better protection for crypto investors while submitting a proposed regulatory framework for cryptocurrency exchanges operating in the country. The regulatory framework was submitted in response to the federal…
” Paraguay paves the way for crypto regulation despite internal opposition “ Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets. On May 25, a bill that regulates…
” Binance gets approval to operate in Italy, will open office in Milan “ One of the world’s biggest cryptocurrency exchanges, Binance, strengthened its European presence by obtaining registration and regulatory approval in Italy. A Binance company had previously registered to operate in France at the beginning of May. On May 27, the exchange’s official…
” Here’s how much Kazakh gov’t made off crypto mining in Q1 2022 “ The government of Kazakhstan, one of the world’s largest countries by the Bitcoin (BTC) mining hash rate distribution, has reported budget earnings derived from cryptocurrency mining. On May 30, Kazakhstan’s state revenue committee of the Ministry of Finance released a report…
” Gov’t says crypto miners consume 2% of total electricity in Russia “ Crypto miners account for two percent of the total electricity consumption in Russia, according to the latest government estimate. The energy consumption share of the crypto mining industry has exceeded the country’s agricultural sector, showing signs of recovery after Russia fell out…
” South Korean authorities reportedly probe staff behind Terra “ The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna (LUNC) and Terra USD (UST) tokens, by reportedly summoning subpoenas to employees. South Korean authorities have reportedly summoned all employees at Terraform Labs as part of…
” Tips to claim tax losses with the US Internal Revenue Service “ Crypto volatility is nerve-wracking, and it may not be over yet. The turmoil may make crypto investors and crypto-related businesses less enthusiastic than when prices seemed ever to be climbing. With the market falling off a cliff, there will be big losses…
” Identity is the antidote for DEXs’ regulation problem “ Regulators from Europe, the United States and elsewhere are busily hammering out details on how to designate decentralized exchanges (DEXs) as “brokers,” transaction agents or similar entities that affect a transfer and cooperate with each other. The U.S. called for multinational cooperation in its executive…