South Korea is taking steps to tighten its monitoring of cross-border cryptocurrency transactions in order to prevent tax evasion and address foreign exchange crimes. Finance Minister Choi Sang-Mok revealed this at a G20 meeting in Washington. According to a report from local news outlet Edaily, Choi stated that the country ...
The Dutch Ministry of Finance has opened a consultation process on its proposed regulatory framework to tighten crypto tax rules and improve transparency in digital asset ownership. It announced that feedback from crypto service providers, citizens, and other relevant stakeholders would be welcomed until November 21, 2024. The proposed legislation, ...
In 2024 so far, over a dozen cryptocurrency exchanges in South Korea either shut down or paused their operations, leaving nearly 34,000 users with unclaimed assets totalling 17.8 billion won (approximately $13 million), according to a new report from The Korean Times. These unclaimed assets allegedly amount to over 1.41 ...
Denmark's Tax Law Council has proposed a bill that could impose taxes on unrealized gains and losses for cryptocurrency assets held by Danish investors, potentially starting in 2026. In its comprehensive 93-page report on crypto asset taxation, the council suggested that all crypto assets should be governed by the same ...
The United States and Nigeria have established a Bilateral Liaison Group aimed at tackling illicit finance and cryptocurrency-related crimes. The U.S. Department of State announced this partnership on Wednesday, October 23, highlighting the importance of collaboration in addressing financial crime and cyber threats, particularly concerning the misuse of digital assets. ...
Brad Garlinghouse, CEO of Ripple Labs, recently expressed regret for not engaging with U.S. regulators earlier in the development of cryptocurrency trading. In a conversation with CNBC at DC Fintech Week on October 24, Garlinghouse noted that he has "made far more trips to DC in the past few years" ...
Australian crypto hedge fund JellyC has merged with Singapore-based Trovio Asset Management in a bid to secure larger investments from institutional players, including pension funds. According to a Bloomberg report on October 23, JellyC will retain a majority stake in the newly combined entity, as confirmed by the companies' executives. ...
India is reportedly weighing a potential ban on private cryptocurrencies such as Bitcoin and Ether, while pushing for the widespread use of the digital rupee, the country's Central Bank Digital Currency (CBDC). According to a report by local news outlet, the Hindustan Times, government officials have been consulting with key ...
Minneapolis Federal Reserve President Neel Kashkari sparked backlash after dismissing cryptocurrencies as primarily being used for illicit activities, such as drug deals. Speaking at a town hall in Wisconsin, Kashkari claimed that "very few transactions are actually happening" in the crypto space, and when they do, they are mostly related ...
The Australian Securities and Investments Commission (ASIC) has charged Grant Colthup, the former CEO of Mine Digital, with fraud after a customer allegedly failed to receive Bitcoin valued at 2.2 million Australian dollars (around $1.47 million) in July 2022. Mine Digital, which operated a cryptocurrency exchange from May 2019 until ...
