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Danske Bank Bans Investments in Cryptocurrency-Related Instruments

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Leading Danish bank, Danske Bank, has published a document announcing that the company does not wish to “support the investment environment surrounding cryptocurrencies.” Danske bank will “phase out the possibility of” its customers purchasing financial instruments comprising cryptocurrency derivatives. Despite the bank’s concerns pertaining to the risks associated with cryptocurrencies, Danske customers will still be … Read more

Iranian Officials Issue Contradictory Statements Regarding Telegram Ban

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Telegram’s initial coin offering has been the catalyst of confusion among Iran’s leadership, with conflicting statements regarding a potential ban on Telegram being made by officials. A few days ago, Iranian parliamentarian, Alaeddin Boroujerdi told media that Iran’s “highest level” officials wish to ban Telegram by April 20 due to the app’s monopoly position within … Read more

Cryptocurrency Hedge Funds Experience Poor Performance and Shutterings

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The violent crypto bear trend of 2018 has proved too much for many cryptocurrency hedge funds. The average performance of crypto funds has been a loss of over 20% so far this year, with at least nine crypto hedge funds having been reported to have ceased operations. Also Read: Markets Update: Cryptocurrency Prices See Some Slight … Read more

Australian Regulations for Cryptocurrency Exchanges Introduced

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Australia’s new legislative guidelines for the operation of cryptocurrency exchanges were introduced on the 3rd of April 2018. From now on, Australian digital currency exchange businesses will be required to register and comply with anti-money laundering/counter-terrorism financing (AML/CTF) laws. Also Read: Companies Outsource Marketing to India Amid Ban on Crypto Ads  Australia Introduces AML/CTF Requirements for … Read more

Strict Rules for ICOs Prepared in Russia

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A new set of regulations for ICOs has been presented by the Russian Ministry of Communications. Companies organizing token sales will be obliged to guarantee that investors can sell back their tokens. Coin issuers will have to prove they control at least 100 million rubles of authorized capital in a Russian bank account. Also read: … Read more

NY Legal Firm Launches Cryptocurrency Litigation Tracker

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New York-based legal firm, Morrison Cohen LLP, has launched what it calls the “Moco Cryptocurrency Litigation Tracker.” The tracker seeks to provide updates and information on all active legal proceedings in the United States involving cryptocurrency companies, yielding greater transparency regarding the legal embroilments of companies operating in the virtual currency industry. Also Read: Report Details … Read more

New ESMA Measures Impose 2:1 Restriction on Leverage for Crypto CFDs

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The European Securities and Markets Authority (ESMA) has announced that it will impose restrictions on the leverage offered for contracts-for-difference (CFDs) and binary options offered to European retail investors. Under the new measures, the leverage offered on cryptocurrency CFDs will be limited to no more than 2:1. Also Read: PBOC to Strengthen Cryptocurrency Regulations in 2018  … Read more

Kazakhstan Preparing to Prohibit Crypto Trading and Mining, Says Central Bank

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The chairman of the central bank of Kazakhstan said that the bank has prepared legislation to prohibit the sale and purchase of cryptocurrencies in the country as well as any kind of crypto mining, citing several risks he sees. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies National Bank’s Crackdown on Crypto … Read more

Russians Owe 13% Tax on Their Crypto Incomes

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Russian citizens are expected to pay 13 percent tax on their crypto-related incomes. Amendments to the tax code are currently being prepared. The exact rates should be confirmed by the end of the year. However, lawyers have warned that even now citizens risk criminal prosecution if they fail to report gains from dealings with cryptocurrencies. … Read more

Crypto Still Tax Free in Korea but Regulators Have Set Timeframe for Taxation

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Cryptocurrency transactions are still tax-free in South Korea due to a lack of tax regulations. As the law stands, citizens are able to profit millions of won from cryptocurrencies without being required to pay taxes on them. However, the regulators have set a tentative timeframe for the introduction of the crypto tax law. Also read: Japan’s … Read more