Regulation

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Key EU Parliament Committee Approves MiCA Deal to Regulate Crypto

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European Parliament’s economic committee has backed the adoption of the comprehensive Markets in Crypto Assets (MiCA) regulation. It has also supported the introduction of rules for tracing cryptocurrency transfers, part of the latest EU anti-money laundering push. European Union’s MiCA Crypto Law Passes Another Hurdle Before Final Adoption The European Parliament Committee on Economic and … Read more

Coinbase Receives In-Principle Approval to Provide Crypto Services in Singapore

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Singapore’s central bank, the Monetary Authority of Singapore (MAS), has given Coinbase “in-principle approval” allowing the crypto exchange to “offer regulated digital payment token products and services in the island state.” Coinbase stressed: “Today’s announcement underlines our commitment to Singapore as a regional hub.” Coinbase Committed to Making Singapore Its Regional Hub The Nasdaq-listed crypto … Read more

US Treasury Charges Bittrex With Sanctions Violations, Crypto Exchange Agrees to Settle With Regulator

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On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure to “implement effective sanctions compliance controls” between March 2014 and December 2017. Crypto Exchange … Read more

Portugal Prepares to Tax Crypto Gains at Rate of 28%, Draft Budget Unveils

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Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government of Portugal Proposes New Tax for Cryptocurrency-Related Gains In the past … Read more