Guidance – DIGIT INFO

Crypto compliance ‘no longer optional’ under Australia’s new draft guidelines

DIGIT — Wed, 04 Dec 2024 07:02:37 +0000

Sweeping proposed changes would force most crypto firms in Australia to obtain financial licensing, which some worry could drive innovators offshore.

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Basel Committee Gives Permissioned Stablecoins ‘Preferential Treatment’ in Amended Crypto Asset Standard Amidst Heavy Criticism

DIGIT — Fri, 19 Jul 2024 19:30:27 +0000

The Basel Committee, responsible for setting standards for bank regulation, has revised its crypto asset standard, introducing new considerations that impact stablecoins. The updated standard favors permissioned stablecoins, such as JPM Coin, over those issued on public chains. This has elicited criticism from figures in the crypto community, who accuse the committee of attempting to […]

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New York Tightens Customer Service Regulations for Crypto Companies

DIGIT — Fri, 31 May 2024 23:11:13 +0000

The New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory review, and provide quarterly analyses. New York Regulator Requires Crypto Firms to Adopt New […]

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Market Strategist Predicts Gold Will Be the Top Performer in 2023 Over Cryptocurrencies and Equities

DIGIT — Sun, 05 Feb 2023 19:00:40 +0000

Gareth Soloway, president and chief market strategist at inthemoneystocks.com, predicts that gold will outperform cryptocurrencies and equity performances in 2023. In an interview published Thursday, Soloway emphasized his belief that “gold will be the best performer” this year and stated that the U.S. Federal Reserve will not cut rates until a “massively nasty recession” occurs. […]

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NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

DIGIT — Mon, 23 Jan 2023 20:00:57 +0000

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]

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Australian Regulator Seeks Advice on Crypto-Related Assets

DIGIT — Fri, 02 Jul 2021 08:30:51 +0000

The Australian Securities and Investments Commission (ASIC) recently opened a consultation for establishing methods and best practices for regulating crypto assets. The consultation paper seeks guidance on which crypto-assets should qualify as underlying assets, and how to make this determination. The proposal could signal the emergence of new crypto-based products in the Australian market. Australian […]

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Bitcoin Is Financial Instrument, Clarifies Germany, Crypto Custodians Qualify as Financial Institutions

DIGIT — Tue, 03 Mar 2020 03:10:24 +0000

The Federal Financial Supervisory Authority of Germany, Bafin, has issued guidance to clarify the status of cryptocurrencies and the regulations that apply to related business activities. The recommendations are based on the country’s current legislation, taking into account the latest changes. Also read: Turkey to Inspect Cryptocurrency Exchanges as Part of Government Offensive Against Online […]

The post Bitcoin Is Financial Instrument, Clarifies Germany, Crypto Custodians Qualify as Financial Institutions appeared first on Bitcoin News.

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IRS Explains What Crypto Owners Must Know to File Taxes This Year

DIGIT — Sun, 02 Feb 2020 12:49:41 +0000

Kicking off this year’s tax filing season, the U.S. Internal Revenue Service (IRS) has published important tips for crypto owners to properly file their tax returns. This is the first time a cryptocurrency question has been included in the tax form. The IRS expects more than 150 million filers to reveal whether they acquired or […]

The post IRS Explains What Crypto Owners Must Know to File Taxes This Year appeared first on Bitcoin News.

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Malaysia Announces Digital Asset Guidelines

DIGIT — Sun, 19 Jan 2020 14:35:06 +0000

The Securities Commission Malaysia has published the country’s guidelines on digital assets which set out the regulatory framework for token sales. All token offerings must now be carried out only through platforms approved by the commission. The guidelines also detail the obligations of approved platforms as well as the requirements token issuers must meet. Also […]

The post Malaysia Announces Digital Asset Guidelines appeared first on Bitcoin News.

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New Guidelines Subject Canadian Crypto Exchanges to Securities Laws

DIGIT — Sat, 18 Jan 2020 16:10:11 +0000

Canadian regulators have issued new guidance determining when current securities legislation applies to operations conducted by cryptocurrency exchanges. According to the clarifications in the document, many domestic and foreign entities serving Canadian users, for example those that provide custodial services, will have to abide by the country’s securities laws and act like securities dealers. Also […]

The post New Guidelines Subject Canadian Crypto Exchanges to Securities Laws appeared first on Bitcoin News.

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