Regulation
RBI is causing crypto hesitancy among Indian banks
India’s crypto tax plan was expected to bolster adoption, but the central bank’s hold on the banking sector puts a check on crypto-related services.
Pradipta Mukherjee
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Regulation
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Regulation
Binance US under probe for ties with trading affiliates: report
The U.S. securities watchdog has launched a probe into crypto exchange Binance’s relationship with two trading firms with ties to founder Changpeng Zhao, the Wall Street Journal reported. Fast facts The Securities and Exchange Commission (SEC) is examining whether Binance’s U.S. arm properly discloses to users its links to two trading firms — Sigma Chain […]
Timmy Shen
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Regulation
Russia may tax Bitcoin miners, create hotspots: report
Russia’s Ministry of Economic Development proposed to greenlight crypto mining in regions with steady electricity surplus, local media reported on Tuesday, days before Friday’s expected crypto regulation draft. Fast facts The ministry also suggested introducing taxes for realized profits on liquidated cryptocurrencies earned through mining. Last week, Russia’s central government agencies reached an agreement to […]
Timmy Shen
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Regulation
Pakistani central bank echoes RBI’s concerns over crypto
State Bank of Pakistan (SBP) governor Reza Baqir said in this year’s MASIC Annual Investment Forum that cryptocurrency risks far outweigh their benefits and threaten financial and monetary stability for developing countries. Fast facts The SBP recommended a ban on cryptocurrencies last month, with one of the nation’s largest banks quickly heeding the advice by […]
Pradipta Mukherjee
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Regulation
State-backed newspaper is giving out NFTs amid unclear regulation
A new NFT gallery owned by the People’s Daily online arm is airdropping this week its first batch of “digital collectibles” minted on Tencent’s blockchain since the gallery’s opening last January. Fast facts Digital collectibles is a phrase now commonly used by Chinese companies to avoid the term “NFT” since Chinese state media began denouncing […]
Ningwei Qin
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Regulation
Fifth S.Korean crypto exchange crosses regulatory finish line
South Korean crypto exchange GOPAX revealed Tuesday it has partnered with Jeonbuk Bank to provide clients with real-name withdrawal and deposit accounts, qualifying the exchange to offer cash-to-crypto services. Fast facts After registering its new partnership with Korea’s Financial Intelligence Unit (FIU), GOPAX is set to become the fifth digital asset exchange that offers Korean […]
Danny Park
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Regulation
RBI calls for crypto ban in India, again
T Rabi Shankar, the deputy governor of the Reserve Bank of India, the country’s central bank, proposed an outright ban on cryptocurrencies on Monday, assuring the central bank’s position to prohibit digital assets has not changed since the 30% tax on crypto income was announced. Fast facts Shankar said he found no merit in the […]
Monika Ghosh
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Regulation
Peirce dissents from SEC’s US$100M BlockFi settlement
SEC Commissioner Hester Peirce, dubbed Crypto Mom, dissented in Monday's US$100M BlockFi settlement, saying the punishment does not fit the crime.
Jeanhee Kim
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Regulation
India government, central bank in ‘complete harmony’ on crypto: FM
The Indian government and the Reserve Bank of India (RBI) are working in “complete harmony” and any decision on cryptocurrency will be made jointly, finance minister Nirmala Sitharaman said in a press conference on Monday. Fast facts Discussions on crypto have been ongoing between the government and the RBI — India’s central bank — even […]
Pradipta Mukherjee
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Regulation
Indian exchanges scramble to implement crypto tax by April 1 deadline
Exchanges say the crypto tax was announced without key directives. While exchanges await clarity, they struggle to figure out their role in the tax system.
Monika Ghosh
