Tag: legislation

Sep 22 2022

Estonia Approves First Bitcoin, Crypto Bank After New Legislation

Striga is the first VASP to be approved since Estonia enacted a new legal framework restricting service providers in the bitcoin and crypto ecosystem.Striga gains regulatory approval to operate in Estonia as a VASP. The company is the first VASP to be approved following the country’s reworked legislation for VASPs. The law requires KYC information, capital requirements, and affiliation...

Sep 17 2022

Binance CZ Favors Biden’s Regulatory Policy Unlike Other Industry Leaders

U.S. President Joe Biden ordered federal agencies in March to analyze the crypto industry in order to design better regulations protecting users. After six months of Biden's order, the government authorities issued reports covering recommendations for the crypto regulatory framework needed to drive transparency and prevent illicit activities. The cryptocurrency reports published on Thursday faced criticism from a few crypto companies that it...

Aug 17 2022

Unpacking The “Lummis-Gillibrand Responsible Financial Innovation Act”

A line-by-line analysis and critique of the recently proposed bill to regulate “digital assets.” To say it’s misguided is an understatement.This is an opinion editorial by Beautyon, the CEO of Azteco.In this post, I parse the above-named act, pointing out the glaring flaws and errors in it....

Jul 26 2022

U.S. Senators Introduce Bill For Tax Exemption On Small Bitcoin Transactions

The bill would provide tax exemption on bitcoin transactions for less than $50 or trades netting a gain of less than $50.The Virtual Currency Tax Fairness Act seeks to provide tax exemption for transactions up to $50 or trades which net a capital gain of less than $50.Senators Patrick Toomey and Krysten Sinema will introduce the bill today. A House bill...

U.S. Senators Propose Bill to Cut Taxes on $50 Crypto Payments

Jul 26 2022 Published at Crypto Briefing under tags  legislation news

Similar initiatives have previously been introduced in two other bills still sitting in Congress, but there's been little indication that they will be voted into law anytime soon. Senators Introduce...

Jun 15 2022

South Korea Prepares New Crypto Laws After Terra Fiasco

Following the recent shockwaves of the (LUNA) crash which had shaken the spirit of many crypto enthusiasts, South Korea's ruling party, People Power Party (PPP), is reportedly considering new crypto laws to ensure users' protection and prevent the same incident again. Some new laws about crypto come with blockchain...

Jun 08 2022

Climate-Advocate CFTC Chair Wants To Change Bitcoin

Jun 08 2022 Published at Bitcoin Magazine under tags  bill cftc energy legal legislation

In a recent interview, Rostin Behnam revealed that if Lummis-Gillibrand were to be enacted, the CFTC could advocate for a less energy-intensive Bitcoin.Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam seemingly wants to leverage its probable future position as watchdog of the Bitcoin market to encourage a reduction of the peer-to-peer (P2P) currency’s energy use and incentivize consumers to find...

Jun 07 2022

Crypto Legislation Is Coming

Today, June 7, 2022, should see a large piece of crypto legislation start the process in the US. It should define the position of coins as a security or a commodity. It should also include stablecoins and the direction of NFTs. The report even includes CBDC frameworks. However, yesterday, June 6, a first draft appeared. Sometimes leaks are...

Senator Lummis Introduces Landmark Bitcoin Bill: Here’s What’s In It

The bipartisan Lummis-Gillibrand overhaul legislation has been introduced – here’s everything you need to know about the Bitcoin and crypto bill.The bipartisan Bitcoin legislation by U.S. Senators Cynthia Lummis (R-WY) from the Senate Banking Committee and Kirsten Gillibrand (D-NY) from the Senate Agriculture Committee has finally been introduced – months after the effort was first announced.The...

May 27 2022

Russia ‘Actively Discussing’ The Use Of Cryptocurrency In International Trade: Report

Russia’s Ministry of Finance is ‘actively considering’ the use of digital currencies for international payments, a government official reportedly said.Russia’s Ministry of Finance is considering allowing the use of cryptocurrencies for international trade, local news outlet Interfax reported on Friday.“The issue of using such digital currencies...

May 25 2022

Turkey Crafts Legislation For Bitcoin, Crypto Oversight: Report

May 25 2022 Published at Bitcoin Magazine under tags  bitcoin crypto legislation markets news

Turkish governing party is reportedly set to submit bills to parliament in the coming weeks to better regulate the Bitcoin and cryptocurrency markets.Turkey is close to presenting draft legislation to regulate the Bitcoin market, especially businesses involved in the sector that operate in the country,...

May 13 2022

South Korea Plans Crypto Legislation By 2024, Leaked Report

In a move that will see South Korea become even more crypto-friendly, President Yoon has announced his intention to establish a new regulatory framework for the crypto industry by 2024. With this new legislation in place and increasing demand for cryptocurrency services across all areas of commerce, it seems likely they can pull off another major victory. According to a...

May 04 2022

South Korea’s New President Delays Crypto Taxes For Consumer Protection Legislation

South Korea's newly elected president is demonstrating his crypto expertise by declaring that there will be no tax on crypto investment gains until legislation can ensure consumer protections. Yoon Seok-yeol, South Korea's newly elected president, announced on Tuesday that he will push to postpone taxation on crypto investment gains at least until a new set […]

Apr 30 2022

Panama Gets A Crypto Bill, Moves One Step Closer To Becoming An Official Crypto Nation

After El Salvador's move to give Bitcoin a legal tender, the National Assembly of the Central American country, Panama, passed a bill on Thursday to enact regulations for the commercialization and use of cryptocurrency in the republic. If the President of the National Assembly, Laurentino Cortizo, approves the bill, private and public companies would be allowed to use the...

Mar 31 2022

Mar 24 2022

Cato Institute slams Sen. Warren’s sanctions evasion bill: “collateral damage”

Last week U.S. Senator Elizabeth Warren (D-MA), along with ten other democrat senators, introduced a bill to block cryptocurrency companies from conducting business with sanctioned companies, fearing cryptocurrencies might constitute a vehicle for evading sanctions against Russia in the ongoing war with Ukraine. In short, the Digital Asset Sanctions...

Mar 21 2022

DAOs Make This Australian Senator Edgy, Calls Them ‘Existential Threat’ To Tax Base

Mar 21 2022 Published at Bitcoinist.com under tags  blockchain crypto crypto news dao daos

Decentralized autonomous organizations, or DAOs, make some people uncomfortable. Especially this Australian lawmaker. Australian Senator Andrew Bragg kicked off the Australia Blockchain Week (ABW) conference with a no holds barred legislative proposal that he hopes would lay the foundation for DAOs and Australia's new digital asset economy. The Liberal Party member announced a comprehensive piece of crypto legislation - the Digital Services...

Mar 17 2022

India Thumbs Down Crypto, To Launch CBDC Instead

India is just not that into crypto these days. Or, perhaps, not yet. Nirmala Sitharaman, India's finance minister, revealed last month that the Reserve Bank of India will deploy a digital rupee sometime in the fiscal year 2022-2023. India will become one of the largest economies to launch a central bank digital currency if the bank follows through on its intentions. The Indian...

Mar 15 2022

EU Passes Historic Crypto Regulation, Seeks To Protect Consumers In The Market

On Monday, the much-anticipated Markets in Crypto Assets Regulation (MiCA) bill was enacted. It will concentrate on a coordinated strategy to crypto by all EU members. Because of its significant power consumption, the law originally included an indirect provision to prohibit proof-of-work mining. Many crypto watchdog critics dubbed it a "proposed Bitcoin mining ban in the EU." EU Commission Seeks Regulate Crypto The...

Feb 23 2022

SEC Will Lose Lawsuit Against Ripple, Former SEC Official Predicts

Feb 23 2022 Published at Bitcoinist.com under tags  crypto crypto news legislation ripple sec

In December 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple and its chief executives, Brad Garlinghouse and Chris Larsen. According to the SEC, Ripple traded $1.3 billion in their cryptocurrency XRP as a security without notifying the commission. Ripple and other parties have now rebutted the watchdog's judgment with claims of bias. Several significant court actions have occurred over...

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