The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced when it comes to cryptocurrency regulation, the specifics of what will be taxed and in which way are still a mystery for traders and holders.…
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Amid ongoing talks on new crypto regulation, the Russian government reportedly estimates that, if the country introduces regulations for the crypto market and imposes a tax on transactions that involve cryptoassets, it could generate as much as RUB 1tn (USD 13.3bn) in revenue for the state budget…. Read More: Russia Plans Up To USD…
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Zimbabwe’s central bank, which has expressed its opposition to cryptocurrencies in the past, announced yesterday it is presently exploring the feasibility of rolling out its own central bank digital currency (CBDC). The bank also said its regulatory sandbox continues to garner interest. CBDC Roadmap The Zimbabwean central bank, the Reserve Bank of Zimbabwe (RBZ), has…
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The amount of Bitcoin FTX.US gives is yet to be determined, and will be based on the East Coast time its Super Bowl ad runs. Cryptocurrency exchange FTX.US will be giving away free Bitcoin as part of its upcoming advertising campaign at the Feb. 13 Super Bowl LVI. However, the amount of Bitcoin given away…
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Certain crypto and foreign currency transactions in Venezuela will be taxed at up to 20% after the government and parliament signed off on a rule aimed at reducing inflationary pressure on the troubled fiat bolivar…. Read More: Some Crypto Transactions Could Be Hit with 20% Tax in Venezuela as New Law Passes Read more…
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Chainalysis, one of the leading blockchain and cryptocurrency auditing firms, has issued a report indicating signs of significant wash trading activity involving NFTs. In these operations, some actors effectively sell their assets to themselves, with the intention of increasing the floor price of the NFTs to sell them at a higher price later. However, this…
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Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also increased significantly. Irkutsk Dealing With Rising Electricity Needs Amid Growing…
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Independent sanctions monitors have told the United Nations (UN) that North Korea is continuing to use crypto and raids on international crypto exchanges as a major revenue stream to fund its nuclear and ballistic weapons programs. The monitors, Reuters reported, submitted their findings to the UN Security Council North Korea sanctions committee…. Read More:…
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Cyberattacks on cryptocurrency exchanges have been a major source of funds for North Korea in the past year, a United Nations report has unveiled. According to the document, the sanctioned nation has also been developing its nuclear and missile programs. North Korea Hits Cryptocurrency Exchanges, Sanctions Monitors Say Hackers controlled by the Democratic People’s Republic…
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The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities. Government Inclined to Legalize Rather Than Ban Cryptocurrency in…
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