crypto exchanges

Regulatory Roundup: Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash

</header> <strong>In this roundup, we cover numerous cryptocurrency regulatory developments in the U.S., including President Trump’s crypto proposals, testimonies by the Federal Reserve chairman and the Treasury secretary, a crypto-friendly SEC proposal, and the IRS changing a crypto tax rule. We also cover China quarantining yuan bills, its central bank filing 84 digital currency patents, …

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Tax Rules Hit Brazilian Crypto Exchanges, Forcing Trading Platforms Acesso Bitcoin and Latoex Out of Business

</header> <strong>Tax regulations implemented even before dedicated legislation has been adopted have hit Brazilian cryptocurrency exchanges. Digital asset brokers failing to comply with the new reporting requirements face fines and the stricter rules are hurting smaller platforms, which are shutting down due to dwindling trading volumes. </strong> Also read: Tax Agents ‘Confiscate’ Bitcoin From Criminal …

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Indian Supreme Court Warms Up to Crypto – RBI’s Arguments Not Convincing

</header> <strong>India’s supreme court heard the crypto case on Thursday, starting with the arguments by the counsel for the Reserve Bank of India (RBI). After pointing out that the RBI ban only hurts crypto businesses but does not stop crypto trading, the court explained that “being an honest contributor to the blockchain is more profitable …

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Canadian Regulatory Group Targets Crypto Exchanges Holding Users’ Digital Assets

Canada’s top financial watchdog has told crypto exchanges they will be subject to securities law if they act as custodians to users’ digital assets. The Canadian Securities Administrators (CSA) said in guidance published Thursday the common exchange practice of custodying users’ assets – “merely providing users with a contractural right or claim to an underlying …

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Wazirx CEO on 2020 Outlook, RBI Ban, Crypto Regulation for India

</header> <strong>The Indian crypto community has had an eventful year, with a bill on the horizon, the RBI ban’s supreme court hearing, and the community’s efforts toward positive crypto regulation. News.Bitcoin.com interviewed Nischal Shetty, CEO of local crypto exchange Wazirx, about what the Indian crypto industry could expect in the year 2020 and a wide …

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Banking Platform Cashaa Sees Indian Trading Volume Soar, Adding 5 More Cryptocurrencies

</header> <strong>Banking services platform Cashaa has seen significant growth in crypto trading volume in India since it began offering INR deposits and withdrawals. The platform has cut its fees by more than 50% and is getting ready to add five more cryptocurrencies for users in India, Cashaa has shared with news.Bitcoin.com.</strong> Also read: Regulatory Roundup …

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Uzbekistan Bans Citizens From Buying Crypto, They Can Only Sell

</header> <strong>Authorities in Uzbekistan have effectively banned residents from purchasing cryptocurrencies on digital asset exchanges licensed in the country. Crypto holders will only be able to sell their coins and that’s if these have not been obtained through anonymous transactions, amendments to the local regulations postulate. </strong> Also read: Poles Hit With Backdated Tax on …

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Chinese Regulators Question 8 Crypto Companies in Shenzhen

</header> <strong>Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital.</strong><strong> Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. </strong> Also …

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Tax Form to Report Revenues From Cryptocurrency Trading Issued in Poland

</header> <strong>Authorities in Poland have clarified the taxation of revenues received from cryptocurrency exchange transactions. The Ministry of Finance has recently published a 2019 tax form that has a dedicated section where taxpayers are expected to declare separately proceeds from crypto trading. </strong> Also read: Mario Draghi Leaves European Central Bank Without Ever Raising Interest …

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Belarusian Bank Gets the Go-Ahead to Service Crypto Investors

</header> <strong>A bank in Belarus has effectively gotten the green light to process transfers related to digital assets. DFS, an affiliated company of Belveb Banking Holding’s member VEB Technologies, was recently registered as a resident of the High Technologies Park. The country’s special economic zone has already become home to many crypto businesses. </strong> Also …

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