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The Republic of the Marshall Islands, an independent island state located in the Pacific Ocean near the Equator, has announced that the Decentralized Autonomous Organizations Act of 2022 has officially been passed into law.The law recognizes decentralized autonomous organizations and enables legal entities registered in the country to formally adopt
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The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under development. Russia’s Central Bank to Explore Crypto Settlements Amid Financial Sanctions The Central
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The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctions pressures. These businesses will be exempted from some reporting requirements as part of a regulatory relief intended to minimize the burden on financial organizations. Russia’s Central Bank Eases Supervision of Digital Asset Platforms Amid
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The U.S. Securities and Exchange Commission issued letters to companies flagging the need to disclose any potential impacts from mayhem in the crypto markets. Source
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“An ‘EU crypto tax’ is not on the cards,” Markova said, with any tax law needing unanimous agreement of 27 finance ministers, but added that, politically speaking, “it will be difficult to argue that the proposal should be any less expansive in scope or granularity than it is.” Original Source
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According to the latest reports from the Brazilian tax authority (RFB), institutions have again broken crypto purchasing records in Brazil. The organization registered that almost 42,000 companies purchased some kind of cryptocurrency during October, a new record that overturns the 40,161 that declared having purchased crypto during September. Brazilian Companies Purchase
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The CEO of Blackrock, the world’s largest asset manager, says that most crypto companies will not be around following the collapse of crypto exchange FTX. However, the executive is still optimistic about blockchain technology. Blackrock’s CEO on FTX’s Collapse and Future of Crypto Larry Fink, the CEO of Blackrock Inc. (NYSE: BLK),
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Only crypto companies with a BitLicense – a special business license granted by NYDFS that allows firms to business in New York – will be subject to the assessments. Just 22 companies currently hold a BitLicense, which is notoriously difficult to obtain, and only three have been issued this year. Source
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What advisors and clients need now from the digital assets space is a trusted partner, someone they can work with. Crypto exchanges will need to diversify their revenue streams to create more stability during crypto downturns, according to Suneet Muru, an analyst on the thematic intelligence team at GlobalData. This
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