Monthly Archives: March 2018

Thai Finance Ministry Releases Final Version Of Cryptocurrency Tax Framework

The Thai Finance Minister has announced the final expected version of the crypto tax framework. Thailand’s awaited tax framework for cryptocurrencies has been announced this week by the Thai Finance Minister, local news outlet Nikkei Asian Review reported Friday, March 30. Apisak Tantivorawong reported during a March 27 cabinet meeting that crypto trades will be taxed with a 7 percent value added tax (VAT), and returns taxed with a 15 percent capital gains tax. The first draft of the digital asset regulations, released March 14, showed that […]

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

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  European Securities Regulator Imposes Restrictions on Leverage Offered by CFD Providers ESMA has agreed on what it describes as “temporary product intervention measures on the provision of [CFDs] and binary options to […]

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

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 The chairman of the National Bank of Kazakhstan Daniyar Akishev said on Friday that “Kazakhstan intends to prohibit the purchase and sale of cryptocurrencies and any kind of mining of cryptocurrencies” in […]

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Major Russian Bank Looks To Pilot Crypto Transactions In Switzerland

Deputy Chairman of the Board at Gazprombank says bank to start pilot crypto transactions in Switzerland Major Russian state-owned bank Gazprombank will be conducting pilot cryptocurrency transactions in Switzerland, local news outlet Vedomosti reported March 29. According to Aleksandr Sobol, the Deputy Chairman of the Board at Gazprombank, Switzerland was chosen due to the more liberal crypto legislation in the country. Sobol said that “some kind of pilots” will “of course” take place, according to Vedomosti: “This will not be on a grand scale, but for ourselves. […]

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Russians Owe 13% Tax on Their Crypto Incomes

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. Also read: 0 to 50 percent – Time to Pay Crypto Taxes in the European “Union” Tax Obligations Apply to All Residents, Including Foreigners Lawmakers are finalizing the legislation that should regulate […]

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Bitcoin Magazine’s Week in Review: South Korea Rises, Cryptocurrencies Falter

The week began with news that Twitter’s ban on cryptocurrency ads was taking effect immediately, affecting an industry already taking a hit in interest worldwide. Studies are showing that internet searches are on the decline. But things are looking a little more optimistic in areas like South Korea, which seems poised for growth. Indeed, it was announced that cryptocurrencies will be accepted in over 6,000 South Korean stores over the coming months. Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe […]

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FBI Publishes PSA About Tech Support Fraud Targeting Cryptocurrency Holders

FBI releases PSA about increasing frequency of tech support fraud, now targeting cryptocurrency investors. The FBI’s Internet Crime Complaint Center (IC3) has published a public service announcement on March 28 warning about the prevalence of scammers posing as tech support for a variety of industries, including the cryptocurrency sector. The announcement defines tech support fraud as a “criminal claiming to provide customer, security, or technical support in an effort to defraud unwitting individuals,” and references the increasing frequency of this type of fraud leading to criminals“pos[ing] as […]

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Japan: Operator Of GMO Exchange Promises To Improve Data Security After Regulator Order

Japanese crypto exchange operator creates new group to advise on increased security protection measures for customers’ data GMO Internet, the operator of Japanese crypto exchange GMO Coin, has announced the establishment of a “Group Information Security Audit Office” in order to develop stronger security measures to protect customer information, according to a March 30 press release. GMO Coin was one of the crypto exchanges that was sent a business improvement order by Japan’s Financial Services Agency (FSA) after a series of on-site inspections prompted by the January […]

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

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 DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Still No Tax on Crypto Transactions A lawyer in his early 40s recently revealed that he “made a profit of nearly 30 million […]

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Wendy McElroy: How Centralized Exchanges Intend to Devastate You

The Satoshi Revolution: A Revolution of Rising Expectations Section 2: The Moral Imperative of Privacy Chapter 6: Privacy is a Prerequisite for Human Rights How Centralized Exchanges Intend to Devastate You. Chapter 6, Part 6. The root problem with conventional currency is all the trust that’s required to make it work…We have to trust them [third parties] with our privacy, trust them not to let identity thieves [including government] drain our accounts. – Satoshi Nakamoto Satoshi never envisioned centralized exchanges. The spectacle would have appalled him. Bitcoin […]

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