Co-Authored by Jaideep Singh, CEO of AI-powered, SaaS platform FlyFin, Luke Olson, CPA, and Sridevi Yathirajyam, EA, FlyFin. __________… Read More: Walking the Crypto Tax Tightrope in US Read more »Pay, Trade, Buy Bitcoin with Credit Card
Yesterday’s decision by lawmakers to approve controversial amendments to the Transfer of Funds Regulation (TFR) could put many crypto exchanges in jeopardy in the European Union. However, the crypto sector is determined to keep fighting against the looming clampdown, as indicated by recent statements by industry representatives…. Read More: EU Draft Regulation Threatens Crypto…
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Members of the European Parliament have approved a controversial regulation that could undermine the decentralized finance (defi) sector in the EU. Some of its provisions, which are yet to be coordinated with other European institutions, aim to introduce restrictive measures for transactions involving privately managed crypto wallets. EU Parliament Moves to Introduce Verification for Defi…
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Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S. currency, according to a high-ranking official at the International Monetary Fund (IMF). The confrontation could lead to fragmentation of the world’s current monetary system, the top representative warned. New Currency Blocs May Emerge Amid Mounting Restrictions on…
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Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month. Government of Japan to Close Loopholes for Russians in Crypto Space Amid concerns…
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South Korea’s Woori Fund Service – a part of the financial business group that also comprises the commercial bank heavyweight Woori Bank – will team up with the domestic crypto exchange GDAC to unveil a business-to-business (B2B) crypto wallet management solution. Hanguk Kyungjae reported that the solution will be a “cryptoasset wallet accounting” platform for…
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In another installment of the European Union’s discussions on the controversial Transfer of Funds Regulation (TFR), the European Parliament’s Committee for Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties, Justice and Home Affairs (LIBE) have passed a controversial draft that could exert a negative impact on the industry…. Read More: Two European Parliament…
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The deputy governor of the Bank of Spain, Margarita Delgado, gave her opinion about cryptocurrencies and how they are increasing the risks in today’s economy. At an event hosted by PWC called “A climate of change,” Delgado explained that the continued and extended use of cryptocurrencies might bring different kinds of risks to the 12%…
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Nequi, a fintech neobank which allowed Colombian citizens to test all-digital financial services, has announced its plans for expansion after having parted ways with Bancolombia, the bank that gave it its origin. These plans include an entry into the cryptocurrency world while complying with the limits set by current regulators.
Colombian Nequi to Enter…
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In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individuals for theft of electricity allegedly used to mint digital currencies. The country’s police force has also confiscated equipment worth millions of dollars. Malaysia Police Announce Results From Crackdown on Illegal Mining Since 2020, Malaysian authorities have detained a total of…
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