Denmark

Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY Streamlines Policy

</header> <strong>In this regulatory roundup, we cover a positive crypto story in India, China’s year-end rankings, and the European Central Bank entering the stablecoin race. </strong><strong>We also cover the New York regulator’s proposed Bitlicense revision — the first in five years — and several other notable regulatory developments in the crypto space.</strong> Also read: Regulatory …

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The Country With Europe’s Highest Interest Rate Has Cut It 5 Times This Year

</header> <strong>Around half of European countries, over 20, now have 0% interest rates and a few are already in negative territory. Ukraine, which has the highest benchmark interest rate on the continent, has just reduced it again, for the fifth time this year. The race between central banks to cut rates, when there is inflation, …

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Danish Tax Agency Sends Warning Letters to Suspected Crypto Tax Evaders

In the letters, crypto users are asked to provide information such as profits and losses for the 2016-2018 income period, including for crypto-to-crypto trades. Respondents must further provide the rates at the time of the trades and the purpose of the transactions. Other required information includes proof of wallets created, bank statements and a statement …

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No More Bitcoin for Nordea Bank Employees, Experts Question the Motive

An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court. In …

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Nature Abhors a Vacuum: Why Trump’s Proposed Negative Rates Bode Well for Bitcoin

</header> <strong>In a recent tweet, U.S. president Donald Trump delved into an explosive, all-caps-loaded mini-rant about the necessity of getting “interest rates down to ZERO, or less.” The bombastic politician stressed the need for America to refinance its debt, trailing off with some superficially conservative speak about the U.S. and its “great currency, power, and …

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Initiative to Curtail Negative Interest Rates Gains Traction in Germany

</header> <strong>Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions have been increasingly transferring the bulk of the burden</strong><strong> on to their customers. Some political factions in Germany, however, aren’t happy with the trend and are pushing for adequate protection for the ordinary small …

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Major Swedish Bank Orders Negative Interest Rate on Euro Deposits

</header> <strong>Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark have been in negative territory for a while and a growing number of banks in the region are now charging depositors for keeping their money. Saving in fiat right now, unlike cryptocurrencies lately, leads …

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Owning Fiat Just Got More Expensive – NIRP Strikes Again

</header> <strong>With the recent Union Bank of Switzerland (UBS) announcement that even more customers will be charged to hold money in their banks, people are scrambling to find ways to preserve their wealth, while USB and others scramble to dam the losses resulting from national negative interest rate policy (NIRP). The relatively recent experiments with …

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Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks

</header> <strong>The international financial establishment is known to express concern about the risks of money laundering when the crypto space is mentioned. A string of scandals indicates, however, that traditional banks are not only susceptible to the phenomenon but sometimes complicit, whether knowingly or inadvertently. New chapters have been added to the saga over the …

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