South Africa’s principal financial regulator, the Financial Sector Conduct Authority (FSCA), reviewed 128 applications from crypto service asset providers (CASPs) but intends to discuss only 36 during its next meeting in December. The numbers were published on Nov. 30 by the South African news outlet My Broadband. According to the publication, the FSCA plans to…
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The suggestion that Hong Kong could make an “Initial Coin Offering” (ICO) appeared in a list of propositions formulated by the Hong Kong Securities and Futures Association to revitalize Hong Kong’s economy. The document, signed by association president Chen Zhihua, was published on Nov. 29 and included various measures, ranging from routine to bold. The…
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The number of crypto hodlers in Canada dropped slightly in 2023, but the average value of their holdings rose significantly. However, 77% of respondents regret investing in crypto assets, according to a survey published by the Ontario Securities Commission (OSC). The OSC published a “Crypto Assets Survey 2023,” on Nov. 29, conducted in partnership with Ipsos…
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His Majesty’s Revenue and Customs (HMRC) has instructed crypto users in the United Kingdom to declare and pay their taxes on digital assets within a strict timeframe or face the consequences. HMRC guidance on how to declare and pay taxes on crypto holdings, published on Nov. 29, starts with a clear warning: “If you do not…
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Embattled Thai crypto exchange Zipmex is offering its creditors 3.35 cents per dollar for initial claims, with further payouts in a recovery scenario. The proposal came as a part of the restructuring offer from the company, which owes its customers $97 million. According to a Nov. 29 Bloomberg report, Zipmex could raise the sum from 3.35…
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Spanish residents holding any crypto assets on non-Spanish platforms will have to declare them by March 31, 2024, under new laws governing the taxation of virtual assets. The Spanish Tax Administration Agency, commonly known as Agencia Tributaria, has published form 721, a tax declaration form for virtual assets abroad, which was first announced in the Boletín…
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Binance and CZ’s ongoing legal drama with United States law enforcement ended with a plea deal. Source link
According to Japan’s tax authorities, while the total number of tax violations through cryptocurrencies has risen in the country, the average value of undeclared income in crypto fell by 19%. On Nov. 24, the Japanese National Tax Agency (NTA) released its yearly summary of tax investigations. The 13-page document also contains data on the probe…
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The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing anti-money laundering rules and focus on combatting the financing of terrorism (AML/CFT) for crypto providers. In a consultation paper published on Nov. 24, the EBA explains that current European regulations are no longer sufficient to govern AML/CFT standards compliance among crypto…
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The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s…
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