After years of deliberation, the Bank of Russia and the government have finally agreed on the terms of the upcoming cryptocurrency legislation. According to a local news report by Kommersant, Russia is set to treat digital currencies as a form of currency and require every transaction over 600,000 rubles (approximately $8,000) to be declared to the authorities.
FTX, one of the leading international cryptocurrency exchange platforms, is buying a licensed Japanese crypto trading platform, Liquid. Per Wednesday’s announcement, the acquisition deal will be finalized in March 2022.
During a recent discussion on India’s federal budget, the country’s minister of finance and corporate affairs, Nirmala Sitharaman, announced plans to impose a 30% tax on any income generated from the transfer of digital assets, and spoke about the launch of a digital rupee CBDC.
Key takeaways: Fully regulated Currency.com crypto exchange has joined the Chamber of Digital Commerce The Chamber of Digital Commerce is the world’s leading advocacy group that promotes the blockchain industry As a member of the prominent blockchain association, Currency.com will pursue the global adoption of digital assets in line with regulatory standards As a member…
The blockchain sector represents a modern and more transparent alternative to the traditional banking infrastructure, which is one of the reasons why established financial institutions have been taking advantage of their dominant position to artificially limit their crypto competition. The latest victim of such practices was Uniswap’s founder Hayden Adams, who got his JPMorgan chase accounts closed with no prior notice or explanation.
Prominent tech and political executives have come out in opposition to Russia’s central bank’s recently proposed cryptocurrency ban, which would outlaw all cryptocurrency-related activities in the country apart from individual crypto ownership.
Binance, the world’s largest cryptocurrency exchange platform, has plans to obtain the necessary paperwork and become a registered service provider in the United Kingdom by mid-2022.
Fidelity, one of the biggest multinational financial services corporations globally, has launched its first-ever Bitcoin spot exchange-traded fund (ETF). Fidelity tried to launch the ETF in the US but to no avail.
The US financial industry watchdogs are preparing a joint statement with new regulatory guidelines applicable to the cryptocurrency industry. As reported by Bloomberg, the Office of the Comptroller of the Currency (OCC) is close to issuing a review of the blockchain sector, and the conclusions are likely to be unfriendly to crypto.