Hong Kong lawmaker advocates including Bitcoin in national reserves

Hong Kong lawmaker Wu Jie has urged the city-state’s government to consider integrating Bitcoin into its fiscal reserves, a local media outlet reported. The report showed that Wu proposed that the Hong Kong Special Administrative Region (SAR) explore the inclusion of cryptocurrencies in its fiscal reserves and leverage foreign exchange funds to acquire and hold […] The post Hong Kong lawmaker advocates including Bitcoin in national reserves appeared first on CryptoSlate.

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Japan Rejects Bitcoin National Reserves Amid Global Crypto Trends: Report

Japan's government has officially turned down the proposal to include Bitcoin in its national foreign exchange reserves, citing the cryptocurrency's volatility and its incompatibility with existing financial frameworks.

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Kyrgyzstan crypto mining tax collection falls 50% year-over-year in 2024

A report on the 2024 Kyrgyz government revealed crypto mining taxes contributed only around $535,000. This value dropped by nearly half compared to last year’s crypto mining tax collection. According to a budget document released by the Kyrgyzstan Ministry of…

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Ukraine promises sanctions over Russia’s use of Bitcoin in foreign trade: report

Ukraine is gearing up to block Russia’s use of Bitcoin and other cryptocurrencies in foreign trade, with sanctions already in the works. The government of Ukraine has unveiled plans to impose “sanctions and other solutions” aimed at blocking Russia‘s use…

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Japan PM not ready to talk about Bitcoin national reserve: Report

The Japanese prime minister said it is “difficult for the government to express its views” on implementing a Bitcoin strategic reserve.

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Coinbase reveals 18% YoY drop in law enforcement requests

Coinbase disclosed in a transparency report that it received 10,707 requests from global law enforcement and government agencies over the past year, an 18% decline from the previous reporting period.

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Italy’s government to drop plans to implement a 42% tax on crypto trading: report

Italy's decision to reduce the proposed crypto tax hike may foster a more favorable investment climate, potentially boosting economic growth. The post Italy’s government to drop plans to implement a 42% tax on crypto trading: report appeared first on Crypto Briefing.

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Crypto firms vying for a place on Trump’s ‘Crypto Council’: report

Sources claim that figureheads from major crypto firms want a seat on Trump’s ‘Crypto Council,’ a government advisory board centered around digital assets that will establish the country’s Bitcoin reserve.

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FBI seizes Polymarket CEO’s devices to allegedly probe potential market manipulation in elections bets

The FBI seized the phone and electronics of Polymarket CEO Shayne Coplan on Nov. 13, the New York Post reported, citing a source.   According to the report, the source said the government is allegedly trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump.

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Italy lowers proposed crypto tax hike to 28%: report 

Italy’s government is considering lowering its proposed tax hike on crypto trades, reducing the planned rate increase from 42% to 28%. This shift comes as Prime Minister Giorgia Meloni’s coalition appears inclined to amend the tax proposal, which was initially…

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Swiss city Lugano issues third blockchain bond: report

The Swiss city of Lugano has issued its third bond using blockchain technology. The bond is valued at $139 million and has dual listings on the digital exchange and traditional exchange. According to a Global Government Fintech report on Nov.…

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Trump's Biggest Boon to Crypto Would Be Passing the Bitcoin Act: CoinShares

Under such a proposal, bitcoin would be established as a strategic reserve asset and the government could buy up to 5% of the cryptocurrency's total supply, the report said.

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Pakistan moves to legalize crypto as government signals shift in financial policy

Pakistan moves to legalize crypto as the government proposes amendments to the SBP Act, signaling a shift in its financial policy. According to a report by The Express Tribune, the amendments would allow the SBP to issue digital currency and…

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Unsubstantiated Tether investigation report shakes crypto market 

“Old noise” may be a new name for FUD, as Tether defends itself from a report in The Wall Street Journal about US government investigations.

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Breaking: Tether CEO Reacts to Report of US Government Crackdown

Tether CEO Paolo Ardoino has already commented on the market-moving WSJ report

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Bitcoin Price Plunges Following Report of US Government Probe Into Tether

The Bitcoin price has plunged following a WSJ report of a federal probe into Tether

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Major Japanese companies want to prioritize Bitcoin and Ether for crypto ETFs

A group of Japanese financial institutions urge the government to focus on major tokens such as Bitcoin and Ether in talks of allowing exchange-traded funds for cryptocurrencies. According to a Bloomberg report, a group of Japanese companies lodged a series…

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Italy mulls raising Bitcoin capital gains tax above 40% as crypto gaining momentum: report

Italy is considering raising its capital gains tax on crypto to 42% as part of efforts to reduce the fiscal deficit. Bitcoin (BTC) holders could soon face nearly two-fold tax increase in Italy, as the government plans to raise the…

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Korea eyes FX rules for stablecoins used in cross-border trade: report

South Korea is planning to impose foreign exchange controls on stablecoins, underscoring the government’s concerns over their growing use in cross-border trade. South Korea is weighing the introduction of foreign exchange controls on stablecoins, reflecting government concerns over their growing…

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India’s officials probe crypto exchange WazirX over $235m hack: report

Officials from India’s Financial Intelligence Unit and other agencies are probing WazirX over a $235 million crypto hack, as the exchange investigates potential insider involvement. Indian cryptocurrency exchange WazirX is collaborating with government agencies, including the Financial Intelligence Unit, to…

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Russia set to trial crypto for trading goods with military applications: report

The Russian government has formed a focus group to trial crypto payments for foreign trade, focusing on importers of goods with potential military applications. Russia has established a focus group under an experimental legal regime to explore the use of…

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DBS unveils blockchain solution for streamlined government grant disbursement

Singaporean banking giant DBS has introduced a blockchain-powered solution that uses smart contracts to streamline the disbursement of government grants. According to a local media report, DBS completed the pilot in collaboration with Enterprise Singapore and the Singapore Fintech Association.…

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Bitcoin Gets Brief Boost After U.S. Employment Growth Revised Lower

Job growth for the 12-months ending in March 2024 was 818,000 lower than previously reported, according to a government report.

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Mt. Gox and the German government sunk the crypto market

Binance Research revealed a report on the cryptocurrency market for June 2024. According to the latest research, market capitalization declined by 11.4% over the month. However, this trend is typical for June — over the past five years, the crypto…

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Italy considers $5.4m in penalties for crypto insider trading: report

Italy is reportedly considering increasing fines for crypto crimes as part of measures to reduce market manipulations. Italy‘s government is mulling tougher penalties for those who manipulate the crypto market, Reuters has learned, citing a draft decree. The proposed legislation,…

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Four offshore crypto exchanges eye return to Indian market

India’s financial watchdog, the Financial Intelligence Unit (FIU), has received new petitions from offshore cryptocurrency exchanges seeking to resume operations in India. According to a June 14 report from local news outlet Business Standard, a senior government official told the…

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Australia implements sweeping ban on credit and crypto for online betting

The Australian government is banning the use of credit cards and cryptocurrencies for online betting in its latest bid to mitigate gambling problems troubling the nation. According to a local report on June 11, the ban extends to credit cards…

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Thailand touts new ‘digital nomad’ visa extendable for nearly a year: Report

The Thai government has announced a new visa class for remote workers that can be extended for up to 360 days, but details on income and tax liabilities are unclear.

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UK gov’t calls for action on AI copyright, market competition

The U.K. government is under pressure to increase AI oversight following a House of Lords report highlighting the need for stricter regulations for AI standards.

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Ex-Head of China's Digital Yuan Effort Facing Government Probe: Report

Yao Qian is reportedly being investigated for "violations of discipline and law."

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Binance Exec's Wife Denies Report of Extradition to Nigeria

Nadeem Anjarwalla, who escaped Nigerian custody in March, could be extradited back to the country within the week, one local media outlet reported citing government sources.

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IRS Unveils Form Your Broker May Send Next Year to Report Your Crypto Moves

The U.S. Internal Revenue Services (IRS) has previewed what crypto investors' future tax form might look like when it finishes its much-debated rule on how cryptocurrency transactions should be reported to the federal government.

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Norway Draws The Line: Crypto Mining Faces Ban Over Energy Usage

The Norwegian government has enacted a new law aimed at reining in the burgeoning industry of crypto mining. The law, disclosed in a report by local news outlet VG on Monday, signals Norway’s resolve to regulate and potentially shutter cryptocurrency mining operations within its borders.

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Detained Binance’s executives sue Nigerian government, report says

Binance’s executives intercepted by Nigerian officials have sued the Nigerian government, saying the local authorities have violated their fundamental rights. Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, have filed a lawsuit against Nigeria‘s national security adviser’s office and the anti-graft…

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Saudi Arabia plans $40 billion AI fund: report

Saudi Arabia is eyeing a $40 billion fund that will invest in artificial intelligence (AI) startups, the New York Times reported. According to the publication, the Saudi Arabian government, through its sovereign wealth fund the Public Investment Fund (PIF), is in talks with potential partners for the AI fund.

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Japan’s largest pension fund to explore Bitcoin investments

Japan’s Government Pension Investment Fund (GPIF), the largest pension fund in Japan and globally, is looking to explore investments in alternative assets such as Bitcoin (BTC) and gold. According to a Bloomberg report, GPIF revealed in a press release today…

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Resilient Chinese Crypto Investors Beat Restrictions, Pocket Over $1 Billion In Profits

Cryptocurrency investors in China have defied government restrictions to emerge as the fourth-largest earners globally in 2023, according to a report by blockchain research firm Chainalysis. Despite the government’s stringent stance on cryptocurrency-related activities, Chinese investors managed to accumulate an impressive $1.

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Crypto Mining Saga Continues: Industry Leaders Oppose US Gov’t Resurrection Of 30% Tax Proposal

The US Government is under backlash after allegedly targeting the crypto mining industry again. A recent report revealed the government’s plan to resurrect a tax proposal that could significantly affect the whole sector.

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Nigeria's SEC Updates Guidelines for Crypto Firms in Bid to Stop Criminal Activity: Report

Nigeria's government has started a fresh crackdown on crypto firms, reportedly blocking access to several, including Binance, Coinbase and Kraken.

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Crypto Regulations On The Horizon: UK Prepares To Release New Laws In 6 Months

In a recent development, the United Kingdom (UK) government plans to implement new crypto regulations for stablecoins and staking services within the next six months, according to a Bloomberg report.

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UK Is Pushing Hard To Have Stablecoin And Staking Rules Ready Within Next Six Months: Report

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UK Minister Expects Stablecoin and Staking Legislation Within Six Months: Bloomberg

UK Economic Secretary to the Treasury Bim Afolami has said the UK government was "pushing very hard" to bring legislation for stablecoins and staking services for crypto assets within six months, according to a Bloomberg report.

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New Zealand Central Banker Adrian Orr Says Stablecoins Aren’t Stable: Report

The country's Central Banker says fiat money is more credible than stablecoins because it has the power of government behind it.

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A new government report claims most Canadians regret investing in crypto assets

In 2023, the number of cryptocurrency owners in Canada decreased slightly, but the average holdings increased significantly. According to a report from the Ontario Securities Commission (OSC), 77% of respondents regret investing in crypto assets. While the number of Canadians…

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UK investment funds get green light for tokenisation

UK authorised funds can now develop and implement tokenisation models. The green light comes after the Technology Working Group of the Government’s Asset Management Taskforce published its report on UK fund tokenisation.

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Binance ‘willfully failed’ to report over 100k transactions linked to fraud and scams, U.S. Treasury says

The government says Binance has agreed to look back and report to FinCEN about the suspicious transactions which it had failed to report. Cryptocurrency exchange Binance “willfully failed” to report to regulators more than 100,000 transactions on its platform tied…

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CPI Report Tuesday Could Provide Next Bitcoin Catalyst

The U.S. government tomorrow will report on October inflation data.

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Revolut identified as the most crypto-friendly UK bank as 38% of crypto investors leave legacy banks – report

The UK government aims to establish London as a global blockchain hub. Yet, restrictive cryptocurrency policies implemented by major banks appear to contradict these ambitions, according to a recent report by crypto tax software provider Recap.

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U.S. SEC Messed Up in Handling Contentious Crypto Accounting Bulletin: GAO

The U.S. Securities and Exchange Commission (SEC) was out of bounds when it issued its controversial "Staff Accounting Bulletin 121," according to the Government Accountability Office (GAO). The 2022 guidance, which the industry says threatens crypto investors' ability to find safe harbors for their assets, should have been treated as a formal rule, the GAO concluded in a report issued on Tuesday.

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