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Government Has No Specific Timeline to Finalise Virtual Digital Assets Regulation: MoS Finance
While answering a question on crypto regulation in the Lok Sabha on Monday, Minister of State for Finance Pankaj Chaudhary said that virtual digital assets (like cryptocurrency) are borderless.
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Bank of England's Prudential Regulation Authority Directs UK Firms to Disclose Crypto Exposure Status
The Bank of England's Prudential Regulation Authority (PRA) has issued a directive to local enterprises to disclose their crypto holdings, if any. The PRA is touted as a BOE-affiliated financial watchdog in the UK.
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BRICS' Move to Introduce Digital Assets Platform for De-Dollarisation Sparks Criticism from Trump
Over the weekend, Trump warned BRICS nations, including India, to prepare for a 100 percent increase in tariff rates if they persist in efforts to diminish the US dollar's role in the global economy.
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Taiwan Aligns with India, Japan on AML Regulations for Crypto Businesses, Accelerates Registration Deadline
This week, Taiwan's Financial Supervisory Commission (FSC) announced that all cryptocurrency firms, whether already operating in the country or planning to establish operations, must register for anti-money laundering (AML) compliance. The FSC has advanced the registration deadline from January 1, 2025, to November 30, 2024, urging firms to expedit...
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Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details
Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.
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UK to Finalise Crypto Legislation by 2026, FCA Outlines Regulations Roadmap
The UK's Financial Conduct Authority (FCA) has set a deadline of 2026 to finalise its crypto legislation. So far this year, the FCA has participated in several roundtable discussions to gather insights from investors and regulators on the necessary regulatory framework for crypto.
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Crypto Legislation Likely Coming Under Trump, Ex-SEC Chief Says
Congress is likely to adopt legislation governing cryptocurrencies during President-elect Donald Trump's administration, Jay Clayton, a former top Wall Street regulator and potential political appointee, said on Wednesday.
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India, Qatar's Financial Intelligence Units Partner to Combat Money Laundering through Virtual Digital Assets
This week, the Financial Intelligence Units of India and the UAE met in New Delhi to finalise an agreement. The two nations committed to collaborating in efforts to prevent the misuse of crypto assets by unlawful entities for illicit financial transfers.
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Fragmented Crypto Regulations Creating Uneven Playing Field, FSB Asia Voices Concerns
The Asia unit of the Financial Stability Board (FSB) convened in Hong Kong this week, co-chaired by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, and P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.
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Cardi B-Endorsed Memecoin Under UAE Investigation as Regulators Clamp Down on Crypto
In a new development, the UAE has opened an investigation into a crypto token named WAP that is endorsed by rapper Cardi B, who has one of her most popular songs also named after the same abbreviation. Regulators are examining whether the token violates securities laws.
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Crypto.com Sues US SEC After Receiving Legal Threat from Regulator
Crypto.com filed a lawsuit against the US Securities and Exchange Commission (SEC). The case filed also names SEC Chair Gary Gensler and four other commissioners as defendants.
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UAE Scraps Value Added Tax on Crypto Transactions, Binance Foresees Rapid Growth in Web3 Businesses
The UAE has exempted some crypto transactions from value added taxes (VAT). This essentially means that the five percent VAT that the UAE previously levied on crypto transfers and conversions now stands cancelled. This move is being implemented retrospectively covering crypto transactions from as far back as January 1, 2018.
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IMF Asks El Salvador to Narrow Scope of Bitcoin Law, Limit Public Exposure
IMF spokesperson Julie Kozack has said that El Salvador should narrow the scope of the Bitcoin law, strengthening the regulatory framework and oversight of the Bitcoin ecosystem, and limiting public sector exposure to Bitcoin.
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Japan Crypto Review May Open Door to Lower Taxes, Dedicated ETFs
Japan's Financial Services Agency in coming months will assess whether the current approach of regulating crypto under the payments act is adequate, an official at the agency said, asking not to be identified in line with the institution’s rules.
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Dubai's VARA Announces Stricter Regulations for Crypto Marketing
Dubai’s Virtual Asset Regulatory Authority (VARA) has announced that marketing content related to digital assets should carry a disclaimer notifying people that engaging with digital assets could be financially risky.
-
Government Has No Specific Timeline to Finalise Virtual Digital Assets Regulation: MoS Finance
While answering a question on crypto regulation in the Lok Sabha on Monday, Minister of State for Finance Pankaj Chaudhary said that virtual digital assets (like cryptocurrency) are borderless.
-
Bank of England's Prudential Regulation Authority Directs UK Firms to Disclose Crypto Exposure Status
The Bank of England's Prudential Regulation Authority (PRA) has issued a directive to local enterprises to disclose their crypto holdings, if any. The PRA is touted as a BOE-affiliated financial watchdog in the UK.
-
BRICS' Move to Introduce Digital Assets Platform for De-Dollarisation Sparks Criticism from Trump
Over the weekend, Trump warned BRICS nations, including India, to prepare for a 100 percent increase in tariff rates if they persist in efforts to diminish the US dollar's role in the global economy.
-
Taiwan Aligns with India, Japan on AML Regulations for Crypto Businesses, Accelerates Registration Deadline
This week, Taiwan's Financial Supervisory Commission (FSC) announced that all cryptocurrency firms, whether already operating in the country or planning to establish operations, must register for anti-money laundering (AML) compliance. The FSC has advanced the registration deadline from January 1, 2025, to November 30, 2024, urging firms to expedit...
-
Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details
Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.
-
UK to Finalise Crypto Legislation by 2026, FCA Outlines Regulations Roadmap
The UK's Financial Conduct Authority (FCA) has set a deadline of 2026 to finalise its crypto legislation. So far this year, the FCA has participated in several roundtable discussions to gather insights from investors and regulators on the necessary regulatory framework for crypto.
-
Crypto Legislation Likely Coming Under Trump, Ex-SEC Chief Says
Congress is likely to adopt legislation governing cryptocurrencies during President-elect Donald Trump's administration, Jay Clayton, a former top Wall Street regulator and potential political appointee, said on Wednesday.
-
India, Qatar's Financial Intelligence Units Partner to Combat Money Laundering through Virtual Digital Assets
This week, the Financial Intelligence Units of India and the UAE met in New Delhi to finalise an agreement. The two nations committed to collaborating in efforts to prevent the misuse of crypto assets by unlawful entities for illicit financial transfers.
-
Fragmented Crypto Regulations Creating Uneven Playing Field, FSB Asia Voices Concerns
The Asia unit of the Financial Stability Board (FSB) convened in Hong Kong this week, co-chaired by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, and P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.
-
Cardi B-Endorsed Memecoin Under UAE Investigation as Regulators Clamp Down on Crypto
In a new development, the UAE has opened an investigation into a crypto token named WAP that is endorsed by rapper Cardi B, who has one of her most popular songs also named after the same abbreviation. Regulators are examining whether the token violates securities laws.
-
Crypto.com Sues US SEC After Receiving Legal Threat from Regulator
Crypto.com filed a lawsuit against the US Securities and Exchange Commission (SEC). The case filed also names SEC Chair Gary Gensler and four other commissioners as defendants.
-
UAE Scraps Value Added Tax on Crypto Transactions, Binance Foresees Rapid Growth in Web3 Businesses
The UAE has exempted some crypto transactions from value added taxes (VAT). This essentially means that the five percent VAT that the UAE previously levied on crypto transfers and conversions now stands cancelled. This move is being implemented retrospectively covering crypto transactions from as far back as January 1, 2018.
-
IMF Asks El Salvador to Narrow Scope of Bitcoin Law, Limit Public Exposure
IMF spokesperson Julie Kozack has said that El Salvador should narrow the scope of the Bitcoin law, strengthening the regulatory framework and oversight of the Bitcoin ecosystem, and limiting public sector exposure to Bitcoin.
-
Japan Crypto Review May Open Door to Lower Taxes, Dedicated ETFs
Japan's Financial Services Agency in coming months will assess whether the current approach of regulating crypto under the payments act is adequate, an official at the agency said, asking not to be identified in line with the institution’s rules.
-
Dubai's VARA Announces Stricter Regulations for Crypto Marketing
Dubai’s Virtual Asset Regulatory Authority (VARA) has announced that marketing content related to digital assets should carry a disclaimer notifying people that engaging with digital assets could be financially risky.
