Like with any kind of property, law enforcement has the right to sell your coins and spend the money. Earlier this year, during the annual Queen’s Speech in the United Kingdom, Prince Charles informed the Parliament about two bills. One of them — the Economic Crime and Corporate Transparency Bill — would expand the government’s…
Read more
The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues in Kazakhstan Kazakhstan has received 652 million tenge (almost…
Read more
South Korean authorities are reportedly looking at the Terra crash to check for signs of intentional price manipulation and other issues. The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna Classic (LUNC), previously known as Terra (LUNA), and TerraUSD (UST) tokens, by reportedly summoning subpoenas…
Read more
The collapse of algorithmic stablecoin UST created a ripple effect not just in the crypto market but among world regulators as well. The collapse of the Terra ecosystem, which subsequently depegged its algorithmic stablecoin TerraUSD (UST) value and crashed it to an all-time low of $0.30, has cast doubt over the future of not just…
Read more
The Federal Revenue of Brazil wants investors to pay taxes on cryptocurrency trading profits, even if there is no exchange for Brazil’s national currency. Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-asset market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin (BTC) for…
Read more
This week the world has been talking about the World Economic Forum (WEF) meeting in Davos, Switzerland, which started on May 22 and ends on May 26. At the event, Bridgewater Associates founder Ray Dalio spoke about today’s economy, the Federal Reserve, cash, and cryptocurrencies. Dalio noted at the WEF conference that he believes blockchain…
Read more
British regulators intend to amplify the enforcement of crypto and make stablecoins a payment method. In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move…
Read more
With the approaching tsunami of central bank digital currencies (CBDCs) looming ever closer, it shouldn’t come as a surprise when central banks shill their coins at the expense of sounder assets. Recently, European Central Bank president Christine Lagarde went so far as to say that cryptocurrency is “worth nothing.” According to Lagarde, crypto has “no…
Read more
Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added. Government of Cyprus to Submit ‘Attractive’ Crypto Bill Cyprus has an “enviable position” in the…
Read more
Fed nominee Michael Barr said that the government agency potentially releasing a central bank digital currency was an issue that required “a lot more thought and study.” Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the…
Read more
