In our “Regulation” section, we cover laws, policies, and regulatory decisions affecting cryptocurrencies and blockchain technologies worldwide. Here you will find updates on government actions, compliance requirements, and legal frameworks shaping the crypto market. Read the “Regulation” section on ForkNews to stay informed about how regulation impacts the digital asset industry.
The Finnish tax authorities handed over information about 2,700 crypto traders to the Danish tax authorities. According to the press release, they used the Finnish exchange to collectively buy and sell approximately $15.65 million worth of Bitcoin. Some investors traded amounts ranging from $1,105 to $110,450. Most traded in smaller amounts and very few traded in amounts greater than $110,450.
To encourage widespread adoption of cryptocurrencies in the country and reduce losses for investors, Takeshi Fujimaki, a spokesman for the opposition political party Nippon Ishin, recommended four amendments to the legislation.
The Israel Tax Authority (ITA) is taking action against cryptocurrency tax evaders and has issued warnings to Israeli crypto traders.
At the Digital Asset Investment Forum held in Washington on December 5, a representative from the US Securities and Exchange Commission (SEC) recommended not waiting for a decision on the Bitcoin ETF.
Accounting firm NODE40, which specializes in calculating digital currency earnings and developer of Bitcoin tax reporting software, expects the U.S. Internal Revenue Service (IRS) to send out a record number of cryptocurrency-related claims as it believes many investors will decide to declare their losses.
According to a press release from Cointelegraph, major Singaporean cryptocurrency platform Huobi has received a so-called distributed ledger technology (DLT) license in Gibraltar.
According to research conducted by the Internet agency Digital Catapult, the UK's opaque regulation of the digital technology sector has become one of the biggest problems for the country's blockchain companies.
The G20 summit ended with the signing of a final declaration, in which there was also a place for crypto-assets. The leaders of the countries came to a consensus on the prospects of digital technologies and the advisability of uniting for global regulation of cryptocurrency activities.
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