In our “Legal” section, we cover regulations, compliance issues, and legal developments related to cryptocurrencies and blockchain technology. Here you will find information about crypto laws, government policies, and the regulatory landscape affecting digital assets. Read the “Legal” section on ForkNews to stay informed about the legal side of the crypto industry.
The Philippine Securities and Exchange Commission is developing rules to regulate cryptocurrency transactions to protect investors and reduce the risks of fraud.
The Verkhovna Rada of Ukraine currently has two draft laws on regulation of the cryptocurrency market. (No. 7183 and No. 7246) Moreover, the approaches and principles of regulation in them are radically opposite. It is still unclear which of these bills the deputies will support, because neither one nor the second has even gone through the review procedure in the commissions.
It defines cryptocurrency as a digital financial asset, and mining is equated to entrepreneurial activity.
The Council of Ministers of Poland adopted the bill “On the regulation of Bitcoin and other cryptocurrencies” to bring the circulation of the new asset into compliance with financial legislation to combat money laundering and terrorism.
Argentina and Bitcoin were seemingly made for each other. On the one hand, a country that has suffered from numerous bouts of inflation and even hyperinflation since the Second World War. On the other hand, a cryptocurrency backed by cold mathematics rather than a populist government.
Today, the volume of the Israeli “black market” of cryptocurrencies is about 22% of GDP. Illegal transactions in this sector result in the state treasury, according to the Israeli Ministry of Finance, annually losing about 50 million shekels ($15 million) in uncollected taxes, which is equivalent to the country's education budget for 2017.
Yohnap news agency reports that South Korean financial regulators intend to require crypto exchanges to provide complete data on their clients who carry out transactions on their platforms. This data should be sent to the South Korean National Bank
The Portuguese consumer protection association DECO proposes introducing a tax for cryptocurrency investors. This tax, according to the association, should be the same as for the tax on profits received by shareholders, that is, 28%
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