Regulation

Indian crypto exchange WazirX has reportedly paid over $6.62 million (49.2 crore rupees) following non-payment of Goods and Services Tax (GST) on trade commissions. The total recovery includes the pending tax of $5.43 million (40.5 crore rupees), the interest and a penalty for non-payment. Government officials from the Central GST and Central Excise committee (CGST

Beginning in February, Estonia is set to introduce sweeping changes to its definition of Virtual Asset Service Providers, or VASPs, to include several cryptocurrency-related services — a move that could impact Bitcoin (BTC) ownership in the country — according to European compliance specialist Sumsub. On Sept. 21, the Estonian Ministry of Finance published a draft

Regulators around the world have been thinking seriously about the risks associated with stablecoins since 2019 but recently, concerns have intensified, particularly in the United States.  In November, the United States’ President’s Working Group on Financial Markets, or PWG, issued a key report, raising questions about possible “stablecoin runs” as well as “payment system risk.”

Retail cryptocurrency mining in Thailand has apparently received a boost due to the capitulation of Chinese miners triggered by the country’s new crypto mega ban enforced in September. Thai entrepreneurs and cryptocurrency businesses have been increasingly capitalizing on Chinese miners getting rid of their crypto mining machines, Al Jazeera reported Wednesday. “The moment China banned

United States Securities and Exchange Commission (SEC) chair Gary Gensler has added a new staff member who will offer advice related to crypto policymaking and interagency work.  In a Thursday announcement, the SEC said Corey Frayer would be joining Gensler’s executive staff as a senior adviser on the agency’s oversight of cryptocurrencies. Frayer has worked

Mexico has announced that it would introduce a new national central bank digital currency (CBDC) in 2024, according to a tweet posted on Thursday. The tweet by an account representing the Mexican presidency highlighted that “new technologies and next-generation payment infrastructure” will help Mexico become more financially inclusive. El @Banxico informa que hacia 2024 tendrá

Major South Korean crypto exchanges including Upbit, Bithumb and Korbit will follow Coinone’s lead in banning transfers to non-verified wallets, industry analysts say.  Yesterday Coinone announced that it would reject deposits from unverified private wallets starting Jan. 24 to reduce the risk of money laundering. All Korean exchanges, including Upbit, Bithumb, Korbit and 20 others,

As digital asset prices had been hitting new historical highs in 2021, many jurisdictions were increasingly adopting cryptocurrencies like Bitcoin (BTC) and other crypto-based instruments. In addition to Bitcoin crossing $68,000 for the first time since inception, the year of 2021 will be remembered for Bitcoin’s historical adoption as legal tender in El Salvador. The

The Chairman of the Securities and Exchange Board of India (SEBI) Ajay Tyagi urged mutual funds to avoid investing in crypto-related assets as the government considers new cryptocurrency rules. Speaking at a press conference on Tuesday, Tyagi advised firms to refrain from investing in funds linked to crypto assets until there is clarity on the

Indian entrepreneur and the CEO of crypto exchange WazirX Nischal Shetty envisions a race between countries to launch their local versions of central bank digital currencies (CBDC) in the coming year.  Speaking to Cointelegraph, Shetty said that the year 2022 would be an extension of the ongoing discussions around crypto regulations, exchange-traded funds (ETFs) and

FTX founder and CEO Sam Bankman-Fried, also known as “SBF,” rounded off 2021 on an optimistic note. SBF waxed lyrical about the crypto market’s state in 2021 while revealing the roadmap for FTX in 2022 in a Twitter flood. In his view, there are three keystones to industry progress in 2022: regulation, scaling and transaction

Amid Iran’s energy consumption increasing during the winter, local energy authorities have decided to halt operations of authorized cryptocurrency mining centers. Mostafa Rajabi Mashhadi, chairman of the board and managing director of Iran Grid Management Company (Tavanir), announced that Iran is shutting down crypto mining centers again to reduce liquid fuel consumption in power plants

It is that time of the year: Singular events must be abandoned in favor of end-of-year, big-picture narratives and yearly lessons learned. As many governments across the globe finally had to face the rapidly mainstreaming realm of digital finance, the year is packed with developments in crypto policy and regulation that are impossible to fit

Binance is celebrating the new year with approvals from two different sides of the world. The crypto exchange has been granted an in-principle license by the Central Bank of Bahrain to operate as a crypto asset service provider in the Kingdom of Bahrain. According to the announcement, the in-principle approval a first for a Binance

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Cristina Dolan, co-founder and chief operating officer of InsureX Technologies, an alternative insurance marketplace based on blockchain, and CEO

Turkey’s President Recep Tayyip Erdoğan has reportedly confirmed the completion of a crypto law draft that will soon be shared with the Parliament for mainstream implementation in the country. In an effort to counter the falling value of the Turkish lira, President Erdoğan shared plans to implement a new economic model while speaking at a