Search Results for: finance ministry

Russia Can’t Do Without Cross-Border Crypto Payments, Consensus Reached

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Key government institutions have agreed that Russia needs to legalize crypto payments for international settlements. The proposal has been gaining support in the past few months since Moscow’s decision to invade Ukraine was met with wave after wave of Western sanctions….

Whitepay Introduces Crypto Payments to Ukraine’s Tech Stores

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Ukrainians will be able to purchase electronics and other products with digital coins thanks to a service provided by Whitepay. The payment processor, established by the Ukrainian-born digital asset exchange Whitebit, has recently implemented crypto payments in the country’s largest tech…

Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

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New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax…

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

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The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the…

Report: Morocco’s Central Bank to Unveil Crypto Regulation Bill Soon

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The Moroccan central bank is presently working on a cryptocurrency regulation framework bill and according to the bank’s governor, Abdellatif Jouahri, this is set to be introduced soon. The regulatory framework being worked on will result in Morocco’s money laundering and…

Indian Regulator: Crypto’s Decentralized Nature Makes Regulation Challenging

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India’s market regulator, the Securities and Exchange Board of India (SEBI), says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. SEBI on Crypto Regulation The Securities and Exchange Board of India (SEBI) reportedly told the Parliamentary…

Belarus Has Seized Millions of Dollars in Crypto, Chief Investigator Claims

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Authorities in Belarus have mastered the seizure of cryptocurrencies, the head of the country’s Investigative Committee revealed in a recent interview. The high-ranking law enforcement official claims the state has already confiscated crypto assets worth millions of dollars. Companies Allegedly Help…

No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal

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A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the…

Thailand Exempts Crypto Transfers From VAT Until End of 2023

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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….

Draft Law About NFTs Submitted to Russian Parliament

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Lawmakers have filed a bill with the State Duma aimed at introducing the term NFTs to Russian legislation. The authors of the draft say the rights of those who own non-fungible tokens need to be protected as Russians are currently dealing…