Portugal: First Crypto License to a Bank
As known as a crypto investment heaven because of its taxation advantages, Portugal continues to provide incentives for its citizens and businesses. Several payment firms, crypto exchanges, and financial institutions are granted a license to provide services in this industry. On March 14, Banco de Portugal, the Central Bank of Portugal, announced that Bison Bank, […]
Crypto Taxes in Different Jurisdictions -II
Many countries have entered a busy period in tax payments, especially crypto investors, due to the arrival of the tax period. Our latest article has examined three jurisdictions, the United States, Canada, and Germany, regarding how they determine cryptocurrencies legally and approach crypto taxation. This article examines the legal status of cryptocurrencies and their place […]
Singapore Crypto News: Change of Plans Alert
Singapore has adopted a relatively neutral approach regarding the operations of crypto firms until 2022. This policy and the contribution of significant financial actors such as DBS Bank enabled Singapore to become a ‘crypto hub’ for the industry.1The strictly conservative manner adopted in China has also led Singapore to be one of the best options […]
European Union: New Strict Rules on Cryptocurrencies
The European Union (the “EU”) has always been strict about tracing money flow and regulating anti-money laundering, terrorist financing, and other crimes. Undoubtedly, it also aims to control cryptocurrency activities, which has been a grey area within different jurisdictions. Although it was argued that the EU would ban cryptocurrencies that are proof of work-based last […]
How Does AML and KYC Affect Crypto Exchanges?
As crypto ushers in a new era for the financial industry, the spreading adoption of crypto exchange platforms has created the need to set a new understanding in terms of financial regulations. The most obvious example of this is the AML and KYC practices that dominate traditional financial institutions that have become a critical process […]
Dubai’s First Crypto Law: Law on The Regulation of Virtual Assets
The Emirate of Dubai has been introducing various innovations for entrepreneurs and investors of blockchain technology, rising to be a regional and international hub in the industry. It has already spent several years egging the sector participants to hold its position internationally and made a lot of promises in this regard. Such innovations and incentives […]
Laissez Faire, Laissez Passer – However in a ‘Responsible’ Way The U.S Government’s Approach Towards Digital Assets
Abstract: Recent Executive Order published by the White House sets forth the first comprehensive digital assets strategy of the U.S. government and adopts the “whole-of-government approach” to create the new U.S. financial system including the digital assets. Keywords: executive order, digital asset, cryptocurrency, central bank digital currency, decentralized finance. As governments’ position towards crypto assets evolves, crypto […]
3 Things to Learn from Arianna Simpson’s Journey to Crypto
Your passion will lead you where you are supposed to be. You can raise your voice in Crypto by investing more time and energy into yourself. Enjoy the waves. Please allow us to share a bit of Arianna Simpsons’ background before moving onto her Crypto journey. Arianna was born in Milan. Arianna spent most of […]
Malaysia Does Not Accept Bitcoin As a Legal Tender
Malaysia Deputy Minister of Communications and Multimedia, Zahidi Zainul, on Monday, March 21, took a step forward to recognize Bitcoin and other crypto-assets as legal tender following El Salvador. He mentioned that these innovative actions would support the youth and make them contribute and participate in this industry since the blockchain industry significantly increased among […]
Litmus Test For Crypto Platforms: Differentiating Cryptocurrencies and Securities
The rapid development of blockchain technologies has brought many use cases in the train and consequently required scrutiny of governmental bodies. Even though most countries (including the United States) have not enacted comprehensive legislation on blockchain and digital assets, general rules remain applicable while determining that blockchain-related activities are legitimate. At the moment, various digital […]