Russia is on the brink of implementing a sweeping cryptocurrency taxation framework after the Federation Council approved a federal bill on November 27, following its earlier passage in the State Duma. Now awaiting President Vladimir Putin’s signature, the legislation...
The Eurasian Group on Combating Money Laundering (EAG) has raised alarms over increasingly sophisticated money laundering operations in 2024, driven by the growing use of cryptocurrencies and multi-layered schemes. According to a report by Russia’s state-run news agency, the EAG,...
The Russian Ministry of Industry has suggested a two-year transition period before mandating that payments be made using the digital ruble, the central bank's digital currency(CBDC), due to concerns over the readiness of the existing infrastructure, according to Russia's...
South Korea’s Financial Services Commission (FSC) is taking a cautious stance on digital assets amid growing calls to establish a national Bitcoin reserve. Speaking to Newsprime on November 24, FSC Chairman Kim Byung-hwan described the idea of a Bitcoin...
The Bank of Russia has warned that though the market of tokenized real-world assets is still in its infancy and does not yet pose significant systemic risks, its expansion could introduce critical challenges. In a detailed 47-page report, the...
The European Central Bank calls for quicker action on the digital euro, warning that ongoing legislative delays could jeopardize progress as global competition intensifies. In an interview with Euronews, Evelien Witlox, the ECB's project manager for the digital euro,...
South Korea's ruling Democratic Party of Korea (DPK) is planning to implement the long-delayed cryptocurrency tax regulations in early 2025, following a decision not to approve further delays, according to a local news outlet, the Seoul Shinmun. The regulation, ...
Switzerland's Financial Market Supervisory Authority (FINMA) has raised concerns about the growing risks of money laundering linked to cryptocurrencies. In its 2024 Risk Monitor report, the regulator highlighted how cryptocurrencies are being used for cyberattacks, illegal transactions on the...
In a coordinated effort, the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DoJ) have settled charges with BIT Mining, formerly known as 500.com, for violations of the Foreign Corrupt Practices Act (FCPA) related to a...
In early October, the United States’ Federal Bureau of Investigation (FBI)’s interesting approach to combat cryptocurrency fraud made rounds in the news. The covert intelligence agency created and deployed its digital token, NexFundAI, as part of a sting operation...
