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“# South Koreans flock to crypto amid a heavy-handed regulation approach ” In South Korea, one in three citizens either own cryptocurrencies or get paid in them. One-tenth of its population trades digital assets, and its youth unemployment rate hovers above 10%. It’s a competitive job market in the East-Asian nation, where high expenses enforce…
“# 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…
“# Kazakhstan’s government to create roadmap for developing crypto market ” Kazakhstan’s government is forming a roadmap to stimulate the development of the cryptocurrency industry and blockchain technology in the country. State authorities have reviewed proposals to address the crypto industry’s development and reconsider the state’s approach to regulating crypto operations, according to a Tuesday…
“# Stablecoins present new dilemmas for regulators as mass adoption looms ” Stablecoins present peculiar challenges to regulators. Although there is no single, agreed-upon definition of a stablecoin, the common denominator of the commonly used definitions is that stablecoins are designed to maintain a stable value in relation to a specified currency, asset or pool…
“# Iran seems to be attempting to ban foreign-mined cryptocurrencies for payments ” In a broader effort to circumvent the effects of sanctions, Iran may be attempting one of the first instances of digital currency protectionism. According to a Tweet from news outlet Iran International, The Central Bank of Iran announced a decision from the…
“# 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. …
“# SEC chair hints at greater regulatory oversight for US crypto exchanges ” Recently confirmed U.S. Securities and Exchange Commission chair Gary Gensler punted to congress on providing more regulatory oversight to the crypto space, but also said the commission would act within its purview. In a virtual hearing held by the House Financial Services…
“# 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…
“# Deep tech: Why C-suite execs are pursuing blockchain ” Blockchain is seen as a major area of interest by enterprises looking to invest in deep tech solutions, a new report suggests. An industry-wide survey conducted by quantum computing firm Seeqc revealed that 67% of executive decision-makers feared falling behind competitors when it comes to…
“# South Korean Bitcoin miners can deduct electricity costs from crypto tax filings ” Crypto investors involved in cryptocurrency mining may enjoy a significant tax break when the country’s virtual currency tax regime commences in 2022. According to a report by Pulse News, South Korea’s Ministry of Economy and Finance on Wednesday announced additional details…