Category: rules

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services

Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. Popular Chinese App to Impose Restrictions......

Colombian Financial Superintendence Prepares Norms for Crypto Transactions

The Colombian Financial Superintendence, the securities and financial watchdog of the country, is working on a document to regulate the transactions and operations made using cryptocurrency assets in the country. The organization announced that it will present the document in the......

Thailand Exempts Crypto Transfers From VAT Until End of 2023

Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand.......

Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations

Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added. Government......

Bank of Russia Seeks to Allow Stock Exchanges to Trade Digital Assets

The Central Bank of Russia has recently proposed authorizing traditional stock exchanges to operate in the digital assets market. Industry watchers say the regulator aims to provide investors with an option to trade cryptocurrencies in a controlled environment. Russian Stock Exchanges......

Republic of Ireland to Prohibit Political Cryptocurrency Donations

The government of Ireland is preparing to ban political parties from accepting campaign donations in cryptocurrency. The move aims to block the perceived threat of Russian interference in the European nation’s elections against the backdrop of a clash between the West......

Eurosystem Approves New Oversight Framework Concerning Crypto Services

The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for......

Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian......

Kazakhstan Imposes Purchase Limits on Retail Crypto Investors

Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets. Investors in......

BNY Mellon Urges Ireland to Adopt Crypto Rules Before EU Regulations, Report Reveals

As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to......