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 autonomous Chinese province of Xinjiang is starting a hunt for mining farms that do not have a license for this activity. All illegal cryptocurrency mining operations must be identified and suppressed by the end of August.
Joseph Stiglitz is an American economist, professor at Columbia University, winner of the Nobel Prize in Economics. He joined forces with fellow economists Nouriel Roubini and Kenneth Rogoff in an attack on Bitcoin.
South Korea's financial regulator will create a new legislative body that will focus on developing the Korean fintech industry, with a particular focus on cryptocurrencies and blockchain technology. According to the Korea Times, the Financial Services Commission (FSC) intends to create a new legislative body, called the Financial Innovation Bureau, which will actively participate in the development of the fintech industry.
The US Securities and Exchange Commission (SEC) has denied Coinbase's claim that it has received formal approval to acquire the brokerage.
The State Bank of Vietnam has announced that the import of all cryptocurrency miners will be banned in order to improve the management of foreign exchange transactions in the country. This statement followed the receipt of an official letter from the Ministry of Industry and Trade, whose representatives proposed to temporarily ban the import of these units.
The US Subcommittee on Monetary Policy and Trade yesterday discussed major issues related to digital currencies. It was assumed that the hearing, entitled “The Future of Money: Digital Currency,” would be significant for the introduction of crypto assets into the economy.
The State Duma does not plan to introduce a special tax regime for the crypto industry. Current fiscal rules will apply to all financial assets issued using digital technologies.
The Japan Tax Agency (NTA) has developed a policy that requires companies and individuals to declare profits they make from cryptocurrency transactions. The new policy is based on the principle of “simplification” and “automation” of taxable income calculations and comes into force on July 15.
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