Vermont Senator Proposes Digital Currency Tax Legislation

Earlier this week Senator Alison Clarkson (D) from Vermont has proposed legislation that outlines a use case for government-based cryptocurrency solutions for the green mountain state. Also read: French Entrepreneur’s Case to Overturn the Bitlicense Dismissed   Latest Vermont Bill Discusses State Entities Utilizing Emerging Technology, While Digital Currency LLCs Could Pay Taxes In Crypto   The Windsor … Read more

South Korea to Cooperate with China and Japan on Regulation

South Korean regulators are seeking cooperation with counterparts from Beijing and Tokyo to address cryptocurrency speculation. Six commercial banks have been targeted by Seoul authorities inspecting crypto trading. Korean experience is to help a possible trilateral approach to regulation. Also read: Vietnam Expedites Cryptocurrency Legal Framework – Ready End of January “Trial-And-Error” to Shape the … Read more

Litigation Filed in India for Immediate Intervention of the Flow of Bitcoins

Litigation has been filed in an Indian High Court by a public prosecutor of cybercrime cases. Claiming that cryptocurrencies facilitate crime, he calls for their immediate ban or regulation. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Litigation Seeks Immediate Intervention A public interest litigation (PIL) was filed with the … Read more

South Korea Found a Way to Tax Cryptocurrencies Under Current Law

The South Korean government has announced that some taxes can be applied to cryptocurrencies under the current law, which will be finalized in the first half of this year. Other taxes are also being considered but some are not easily implemented under the current tax system. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, … Read more

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports

Xinjiang Province regulators have issued an official document informing local bitcoin miners to submit status reports on a specific schedule. Also Read: Japanese ‘Virtual Currency Girls’ Spreading Cryptocurrency Knowledge     An Orderly Exit Bitcoin mining companies were told to write a status report before Jan. 5, according to a government notice signed by a Xinjiang … Read more

Vietnam Expedites Cryptocurrency Legal Framework – Ready End of January

The government of Vietnam has taken steps to accelerate the adoption of cryptocurrency regulation that will affect Bitcoin. The executive power in Hanoi has insisted that the framework should be ready by the end of January. Amendments to the tax code are expected to help tap into proceeds from “virtual property and digital money”. Also … Read more

Korean Government Starts Inspecting Major Banks for Crypto Regulation Compliance

The South Korean authorities will start inspecting major banks for their compliance with cryptocurrency regulations on Monday. This move follows the regulators’ recent announcement prohibiting the use of virtual bank accounts for anonymous trading. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Inspecting 6 Major Banks The South Korean Financial … Read more

British Bank Says “No” to Crypto Firms from Gibraltar

Less than a week since it started licensing blockchain businesses, Gibraltar has received bad news from the United Kingdom. A leading British bank has refused to process orders from crypto firms based in the overseas territory. Gibraltan banks are now on the lookout for another UK banking partner. Also read: Britain: Where You Can Bet … Read more