Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has introduced stronger regulations. These measures aim to improve the rules that oversee financial activities in the country. Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has introduced stronger regulations to protect individuals and restrict their involvement in cryptocurrency…
Taiwan is moving towards cryptocurrency regulation with a new law proposal. If this proposal becomes law, all crypto platforms in Taiwan will have to obtain permits to operate. Although the timeline for the second reading is not set, the initial reading of the draft law has passed in Taiwan’s parliament, the Legislative Yuan. Yung-Chang Chiang,…
California Governor Gavin Newsom has approved a bill that introduces regulations for the cryptocurrency industry in the state. These regulations mandate that companies in the crypto sector must acquire a license to operate. Governor Gavin Newsom of California signed a bill on Friday to regulate cryptocurrencies within the state. This bill was approved by California’s…
David Hirsch, the person in charge of making sure people follow the rules for cryptocurrencies at the SEC, has mentioned that besides Coinbase and Binance, there are other places where people are not following the rules when it comes to exchanges and DeFi. The person in charge of making sure that crypto businesses follow the…
In a significant move, European Parliament lawmakers have voted overwhelmingly in favor of a continent-wide tax-reporting rule for cryptocurrency transactions. With nearly 90% of votes supporting the measure, this decision underscores Europe’s commitment to combating fraud in the growing crypto market. During a plenary session held in Strasbourg, France, on September 13, European legislators expressed…
Leaders from the world’s 20 biggest economies are taking steps to put in place a system for tracking cryptocurrency activities globally. This framework, called the Crypto Asset Reporting Framework, is designed to ensure that crypto transactions and the people involved in them are more transparent to tax authorities. It involves sharing information between different countries,…
Grayscale’s Bitcoin Trust ($GBTC) has sent a strong letter to the SEC, questioning why there are different rules for spot Bitcoin ETPs and Bitcoin futures ETPs. They want the SEC to explain its regulations. Grayscale is urging the SEC to quickly make a decision on NYSE Arca’s Rule 19b-4 filing. They say the long wait…
Ripple said “No” to the SEC’s request to challenge a judge’s decision from July in their legal battle with the crypto company. Ripple, the cryptocurrency company, said that the SEC hasn’t given a strong enough reason for the appeals court to get involved in their ongoing legal fight. They made this argument in a new…
The IRS and Treasury have outlined proposed rules that would require brokers, exchanges, and potentially decentralized exchanges to enhance their tax reporting in the coming years. The U.S. Treasury Department has introduced proposed rules aiming to enhance tax reporting within the crypto industry. These rules would require brokers and exchanges to report specific crypto sales,…
Xiao Yi, a past Chinese government worker, has been given a life prison term for taking bribes and misusing power. Part of his wrongdoing is connected to helping Bitcoin mining. The Chinese official supposedly used his power to give money and support to Bitcoin mining companies, and he also helped them with getting electricity. Misuse…