Crypto Regulation News
Kenya's president signs into law a 3% tax on digital assets
Kenya's president approved a monetary law on June 26 that would raise taxes and impose a 3% tax on digital assets.
The ruling party said the strategy should boost state coffers by reducing dependence on costly foreign loans from China, the International Monetary Fund (IMF) and the World Bank. ...
The Danish FSA ordered Saxo Bank to stop working with digital assets by the end of 2024
By the end of 2024, the Danish Financial Supervisory Authority (FSA) has ordered Saxo Bank to stop working with digital assets.
The regulator explained that its own cryptocurrency transactions are not on the list of activities permitted for financial service providers.
Saxo Bank created a ...
Council of the European Union favours the confiscation of unidentified crypto-assets
The European Union favours the confiscation of unspecified crypto-assets. The EU Council has already approved new rules to regulate digital currencies.
They include the freezing and confiscation of unidentifiable digital assets. In the view of the Council of the EU, the existing confiscation system ...
Thailand will ban the use of customer funds for loans and investments
The Securities and Exchange Commission of Thailand (SEC) recently issued new guidelines that prohibit crypto-service providers (VASPs) from using investor funds for lending and investments.
The measure was taken to ensure investor protection. The new rules will take effect on July 31, 2023.
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Slovakia's parliament approved a bill to reduce taxes on income from the sale of crypto-assets
Members of Slovakia's National Council voted in favour of a bill aimed at reducing taxes related to profits from the sale of crypto-assets.
In particular, the parliament approved on third reading a change regarding a tax rate of 7% on profits from cryptocurrency held in individual accounts during ...
European Union Central Bank to decide on the creation of CBDC by the end of October
European Union Central Bank (ECB) governor Christine Lagarde recently announced that a decision to introduce a central bank digital currency (CBDC) would be taken by October. She also said that a widespread introduction of the digital euro is not expected any time soon.
A "pilot phase of ...
Every user of the KuCoin platform must verify their identity through the KYC procedure
International cryptocurrency exchange KuCoin has announced that from July 15 every user of the platform must verify their identity through the KYC ("Know Your Customer") procedure. Services for those who have not been verified will be discontinued.
The exchange said in a statement that passing the ...
Japan's national tax agency will not tax unrealised profits for crypto firms
Japan's National Tax Agency (NTA) will not impose taxes on digital asset companies on profits that have not yet been realised. This could make it easier for these companies to conduct their core business in the country, as well as facilitate the growth of the crypto industry.
Under current ...
