Regulation

CoinspeakerCrypto Tax Delay Proposed in South Korea Ahead of Elections The ruling People Power Party of Korea believe that the establishment of regulations for cryptocurrencies is more important than implementing immediate taxation. Crypto Tax Delay Proposed in South Korea Ahead of Elections

On Feb. 6, House Financial Services and Agriculture Committee leaders sent a letter to Treasury Secretary Janet Yellen regarding the lack of regulation in the spot market for digital assets that are not securities. The letter was sent from Patrick McHenry, Glenn Thompson, French Hill, and Dusty Johnson, all chairmen of various House committees. They requested that Janet Yellen, in her capacity as Chair of the Financial Stability Oversight Council (FSOC), provide answers to...

A former developer at Terraform Labs, known only as “Lee,” reportedly took the stand on Monday at the 14th Criminal Division of the Seoul Southern District Court, testifying against the company’s co-founders, Kwon Do-hyeong and Shin Hyun-seung. The witness, formerly a leader within the Terra development team, provided crucial testimony against Terra founder Do Kwon and Terraform Labs co-founder Shin Hyun-seung. Lee’s Testimony According to a local media outlet report, Lee...

Last year, the European Union unanimously voted for the Markets in Crypto Assets (MiCA) bill, considered by most to be the first comprehensive piece of legislation addressing the crypto industry as a whole. MiCA is, in itself, part of a larger set of financial laws known as DORA – but it has also given many crypto companies a reason to consider moving the bulk of their operations across the ocean. Several Adjustments to The Bill Although MiCA was published back in June 2023,...

The Indian crypto industry is seeking parity, urging fair regulations against foreign exchanges exploiting regulatory gaps amidst dwindling market share for local exchanges while investors face legal uncertainties. With unstable banking ties hindering operations, the sector is currently grappling with hurdles. However, India’s finance minister, Nirmala Sitharaman, refrained from providing any updates on the regulation and taxation of crypto during her interim budget address...

DeFi regulation has been a major bone of contention among regulatory watchdogs across the world. A recent paper, authored by Rebecca Rettig, Katja Gilman from Polygon Labs, and Michael Mosier from Arktouros, proposes a strategy to classify truly decentralized DeFi protocols as critical infrastructure. This classification would place them under the oversight of the US Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP). Although the OCCIP isn’t a...

The EU Parliament and Council recently reached a provisional agreement on a list of anti-money laundering and anti-terrorist financing laws. Although further deliberation on other proposed measures is yet to be had, the new measures will help streamline the efforts of the national financial agencies of EU countries in this area. Although cryptocurrencies are not the main focus of the new laws, the industry is nonetheless explicitly targeted by several of the provisions....

Regulation, Forex, Crypto, Web 3.0, NFTs, Metaverse, ESG, AI Will Be in Focus. Taking place on May 17, 2024, Wiki Finance Expo Hong Kong 2024 is one of the largest and most influential fintech and digital finance events in Asia in 2024. Participation is completely free. The event ticket includes admission to sky100 observation deck for free. Register to get your ticket: https://www.wikiexpo.com/HongKong/2024/en/hkexpo.html About Wiki Finance Expo Hong Kong 2024 As...

Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin...

Several crypto exchanges are taking steps to adhere to recently imposed regulations by the UK government. These regulations require crypto entities to inform users about the risks associated with trading digital assets and to promote their services responsibly. These measures have been implemented as part of the Financial Services and Markets Act in the UK, which has expanded its scope to include firms dealing with crypto and stablecoins, subjecting them to the same...