Cryptocurrency Analysis and News Portal
The Venezuelan Government has approved a new tax that would affect transactions made in foreign currency and cryptocurrency transactions. Approved by the National Assembly of the country, the tax, called the “large financial transactions” tax would collect up to 20% over transactions made in currencies different from the national fiat
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Russia continues sending mixed signals to the cryptocurrency markets as more reports provide details on the country’s upcoming crypto regulation.Shortly after Bank of Russia governor Elvira Nabiullina announced the Bank’s intention to prevent the local financial system from using crypto, another executive at the central bank has clarified that crypto
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The central bank of Russia intends to ensure that the digital ruble is convertible to foreign currencies and can be used by non-residents. In a document devoted to the digitalization of the Russian financial sector, the regulator reiterates its concerns over the risks associated with cryptocurrencies and insists that state-issued
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The Bank of China has shown a machine that converts foreign currencies into digital yuan, China Times reported today.The machine is likely in preparation for the 2022 Beijing Winter Olympics, when the central bank digital currency (CBDC) is set to be introduced to the rest of the world.Users need to
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These groups would also be charged with estimating how much crypto was mined overall between 2016 and 2022, and identify which cryptocurrencies were mined. It is unclear whether mining in the context of the bill refers solely to cryptocurrency mining through proof-of-work coins like bitcoin, or if proof-of-stake coins would
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South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply with the country’s updated regulations coming into force later this month. Korean Exchange Bithumb Prepares to Register Under New Rules Foreign
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Regulators around the world are cautious about the rise of cryptocurrencies. South Korean authorities are not an exception. The Governor of Bank of Korea, Lee Ju-Yeol, stated that Bitcoin “has no intrinsic value.” He also said that he did not understand why its value is so high. Taking a Step Back Foreign
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Due to their anonymity or pseudonymity, digital assets are perceived as entailing the risks of money laundering and financing terrorism. In October 2018, the Financial Action Task Force (FATF) adopted changes to its recommendations on financial activities involving digital assets, adding the definitions “virtual asset” (VA) and “virtual asset service
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Payments startup Circle is getting political.The stablecoin issuer is working with the U.S. government to bypass Nicolás Maduro and support the Bolivarian Republic of Venezuela led by Juan Guaidó.Circle is using USDC, the dollar-pegged stablecoin it issues with Coinbase, to distribute relief funds to medical workers and other Venezuelan locals,
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