Regulation

Spain Introduces New Crypto Reporting Requirement for Residents with Assets Abroad

In a move to enhance oversight on cryptocurrency holdings, Spain has implemented a new regulation requiring residents with crypto assets on foreign platforms to report their holdings by March 31, 2024. The Spanish Tax Administration Agency, also known as Agencia Tributaria, unveiled Form 721, a dedicated tax declaration form for virtual assets held overseas. The […]

Regulation

Korea’s Democratic Party Raises the Stakes: Candidates Required to Disclose Crypto Holdings Ahead of 2024 Election for Enhanced Transparency

The Democratic Party of Korea has introduced a new requirement for its candidates, making it mandatory for them to disclose their cryptocurrency holdings, professional backgrounds, academic history, and photos to the public. This move is aimed at enhancing transparency and building public trust ahead of South Korea’s 2024 general election. Han Byung-do, the chairman of […]

Regulation

Australia Takes Cybersecurity Stride: Businesses to Report Cyberattacks, but Is Ransom Payment Still on the Table?

Australian regulators are set to require local businesses to disclose any ransomware cyberattacks on their operations, aiming for greater transparency in the face of escalating cyber threats. The move comes as the country’s economy suffered a staggering $2.59 billion loss to cybercrimes in 2021. The upcoming national cybersecurity strategy, slated for unveiling this week, will […]

Regulation

BlackRock Challenges SEC’s Differential Treatment of Crypto Futures and Spot ETFs

Summary: BlackRock, a major investment management firm, has raised concerns over the U.S. Securities and Exchange Commission’s (SEC) unequal treatment of spot-crypto and crypto-futures exchange-traded fund (ETF) applications. The firm’s application for a spot-Ether (ETH) ETF, named the “iShares Ethereum Trust,” questions the SEC’s basis for consistently rejecting spot crypto ETFs while approving crypto futures […]

Regulation

UAE Cracks Down on Unlicensed Virtual Asset Providers: A Step Towards Financial Integrity

The Central Bank of the United Arab Emirates (CBUAE) recently issued new guidelines for virtual asset service providers (VASPs) in the country, aiming to crack down on unlicensed operations. The move comes as part of the UAE’s efforts to improve its standing on the Financial Action Task Force’s (FATF) “grey list.” The published guidelines outline […]

Regulation

Coinbase Challenges SEC’s Authority Over Cryptocurrencies in Attempt to Dismiss Lawsuit

In a recent development, Coinbase, a prominent cryptocurrency exchange, has strongly contested the United States Securities and Exchange Commission’s (SEC) classification of cryptocurrencies listed on its platform as securities. In a filing presented to a New York District Court on October 24, Coinbase criticized the SEC’s definition of securities, asserting that it exceeds the boundaries […]

Regulation

Crypto Advocate Tom Emmer’s Bid for House Speaker Promises a Boost for Digital Assets: Here’s What It Means for the Industry

Crypto-friendly Republican Congressman Tom Emmer is actively seeking the nomination for the Speaker of the House position, receiving endorsements from various lawmakers. The move comes after the interim Speaker, Congressman Patrick McHenry, failed to push significant legislation through the House, including bills related to the crypto sector. Emmer’s pursuit was first brought to light by […]

Regulation

EU Enforces Groundbreaking Crypto Tax Regulations and Data Transparency for Enhanced Financial Oversight

The European Union has recently passed a new law that obligates companies dealing in cryptocurrencies to share information about their clients’ holdings with tax authorities. This move aims to enhance transparency and oversight in the crypto market, ensuring compliance with tax regulations. The directive covers various aspects, including stablecoins, non-fungible tokens (NFTs), e-money tokens, and […]

Regulation

California Governor Greenlights Groundbreaking Crypto Regulations: A New Era for Digital Assets in the Golden State

California Governor Gavin Newsom has recently approved a new bill, the Digital Financial Assets Law, signaling a notable shift in his approach towards crypto regulation. The bill, set to take effect in July 2025, introduces stringent measures for individuals and businesses involved in crypto activities in the state. Under the bill, all crypto entities must […]