2020-7-3 19:33 |
The three-year old Common Reporting Standard is uncovering offshore assets on a massive scale, highlighting cryptocurrencies as a potential alternative. origin »
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Governments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 million bank accounts.
2020-7-3 16:45 | |
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Two years ago, on September 4, 2017, the People’s Bank of China (PBOC) shut down local cryptocurrency exchanges over concerns that unregulated assets like bitcoin allow residents to bypass strict capital controls.
2019-9-5 22:19 | |
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An investigation in the Spanish press suggests the country’s regime may have transferred funds to an offshore exchange via Bitcoin (BTC) and other digital assets.
2019-7-26 13:42 | |
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Crypto conglomerate Circle announced that it will be moving the majority of its operations offshore, as regulatory uncertainty has made servicing U. S. customers increasingly difficult. The company received a full Digital Assets Business Act license in Bermuda for Poloniex, a cryptocurrency exchange it runs.
2019-7-24 23:59 | |
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As the U. S. lawmakers and the Treasury Secretary consider implementing stringent regulations against cryptocurrency, Circle has packed its bags and moved offshore to Bermuda. Circle Moves to Evade Oppressive Regulation As regulatory pressure continues to stack up against cryptocurrency companies, Circle has announced that it is moving nearly 100% of its exchange operations offshore.
2019-7-23 22:15 | |
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By CCN Markets: U. S. Treasury Secretary Steven Mnuchin said that the G7’s Financial Action Task Force (FATF) organization will never let crypto assets “become the equivalent of secret numbered accounts.
2019-6-22 05:00 | |
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Bitcoin could be boosted by the current political unrest Hong Kong as the upper and middle classes are reportedly starting to move their assets offshore. Hong Kong Begins Moving Wealth Offshore Fears over the hated extradition bill, whose introduction the Hong Kong government has only suspended but declined to withdraw, are causing the wealthy to start moving their capital from Hong Kong to offshore.
2019-6-15 22:00 | |
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By CCN: There’s a reasonable possibility that demand for Bitcoin is being driven from China, according to CryptoSlate’s Ali Martinez. Officially speaking, China doesn’t have crypto trading anymore.
2019-6-8 09:16 | |
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The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs).
2019-6-1 19:04 | |
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(Manila, Philippines) – Asia Digital Asset Exchange (ADAX) was awarded an Offshore Virtual Currency Exchange (OVCE) License from the Philippines’ Cagayan Economic Zone Authority. Receiving this license is a major step forward for ADAX Tech as they launch their fully regulated asset backed token issuance and exchange platform.
2019-5-4 13:34 | |
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The rapid growth of cryptocurrencies and other digital assets in recent years, combined with seemingly unlimited potential applications for blockchain and distributed ledger technologies across a range of industries, has led to an unprecedented period of innovation and the emergence of some of the most disruptive technologies in decades.
2019-4-19 14:36 | |
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On November 27, 2018, a California judge turned back the SEC’s request for an injunction against token company BlockVest, a company the U. S. Securities and Exchange Commission (SEC) is pursuing for allegedly conducting an unregistered securities offering.
2018-12-1 22:36 | |
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Texas Securities Commissioner Travis J. Iles has issued emergency ordinances against three separate fraudulent cryptocurrency schemes linked to Russian scammers. The orders were issued on September 18, 2018, against DGBK Ltd.
2018-9-20 00:05 | |
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China maintains a hostile stance on activities related to crypto assets while expressing a more open mind when it comes to blockchain. Their decision-making process could have immense geopolitical implications.
2018-9-18 10:00 | |
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China is continuing its crackdown on bitcoin and cryptocurrency-related ventures. The country is now blocking access to more than 120 offshore cryptocurrency exchanges utilized for trading purposes by mainland customers.
2018-8-24 00:24 | |
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China has stepped up its crackdown on digital assets as it blocks the public from accessing more than 120 exchanges. Authorities are reportedly continuing to identify and police domestic websites offering information on crypto trading and initial coin offerings (ICOs).
2018-8-24 22:30 | |
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New Zealand-based crypto-asset service providers will have to collect information on users' transactions starting April 1, 2026.
The Crypto-Asset Reporting Framework is the new international standard for the automatic exchange of information between tax authorities.
Laws set to be agreed next week would require crypto companies to register with tax authorities, even if they’re based outside the bloc or offering non-fungible tokens.
Officials are optimistic finance ministers will formally agree on laws allowing the sharing of information on crypto and NFT holdings between tax authorities next week.
Crypto tax standards in the upcoming year may prove to be a trying time for the industry. Global tax regulators are applying more pressure on centralized and decentralized exchanges. This could even affect your own personal crypto holdings.
The OECD is concerned about the increasing ties between crypto and traditional finance.
Crypto tax may soon see its own version of the Common Reporting Standard (CRS) as the Organisation for Economic Co-operation and Development (OECD) is reportedly working on a unified approach to handling virtual currency taxation.