News

Thailand Is Opening Up to Crypto, One Step Closer to ICO and STO

Thailand Is Opening Up to Crypto, One Step Closer to ICO and STO

Since July, Thailand and its Securities and Exchange Commission (SEC) have voiced their intent to legalize the local initial coin offering (ICO) market and open it to startups. On Dec. 1, 2018, however, Cointelegraph reported that the Thai SEC declared Thai-related security token offerings (STOs) in international markets to be illegal and said that it will take appropriate legal action…

US Presidential Candidate Andrew Yang Calls for Clear Crypto Regulations

US Presidential Candidate Andrew Yang Calls for Clear Crypto Regulations

Andrew Yang, a United States Democratic presidential candidate for the 2020 elections, is advocating for clear regulations on digital assets. Yang put the key operative points in a policy published on his campaign website. Yang — an entrepreneur who contributed $120,000 to establish Venture For America (VFA), an accelerator aimed at building new startups in emerging cities — is running…

The Reserve Bank of India’s Regulatory Sandbox Accepts Blockchain, Excludes Crypto

The Reserve Bank of India’s Regulatory Sandbox Accepts Blockchain, Excludes Crypto

The Reserve Bank of India (RBI) has announced the terms of its regulatory sandbox in report on April 18. Per the terms of the sandbox, various applications of blockchain technology can be tested, while cryptocurrency-related projects are clearly excluded. Sandboxes are used by regulators around the world, including the Financial Conduct Authority in the U.K., so fintech companies can put…

Institutional Crypto Trading Platform Bakkt May Seek New York BitLicense

Institutional Crypto Trading Platform Bakkt May Seek New York BitLicense

Intercontinental Exchange (ICE)-lead institutional cryptocurrency trading platform Bakkt is considering acquiring a New York BitLicense to launch its bitcoin futures, Bloomberg reports on April 18. Bakkt has seen resistance from the United States Commodity Futures Trading Commission (CFTC) to approve its bitcoin futures because of its intentions to custody user’s assets. Bloomberg quotes anonymous sources familiar with the situation, stating…

US SEC and FINRA to Discuss Digital Assets at Joint Broker-Dealer Meeting in June

US SEC and FINRA to Discuss Digital Assets at Joint Broker-Dealer Meeting in June

Two United States regulators, namely the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), will discuss cryptocurrency at a broker-dealer meeting on June 27. The SEC announced the opening of registration for the event on April 16 on its website. Per the announcement, the 2019 National Compliance Outreach Program for Broker-Dealers will be sponsored by the…

Lack Of Standard Terms for Crypto Hampers Global Regulatory Response

Lack Of Standard Terms for Crypto Hampers Global Regulatory Response

The lack of standard global terminology for crypto assets is a major impediment for the adoption of clear regulatory policies in the industry, according to a study by the Cambridge Centre for Alternative Finance (CCAF) released on April 16. According to the report, a variety of major terms in the crypto industry is often used interchangeably and without a clear…

Japanese Regulators to Introduce New Rules Regarding Exchanges’ Cold Wallets

Japanese Regulators to Introduce New Rules Regarding Exchanges’ Cold Wallets

Japan’s Financial Services Agency (FSA) will reportedly introduce new rules regarding cold wallets for storing cryptocurrencies at crypto exchanges, Reuters reported on April 17. Citing a source familiar with the matter, Reuters reports that the country’s financial regulator will reportedly require cryptocurrency exchanges to strengthen internal supervision of cold wallets — devices for storing digital currency which are not connected…

France to Push EU Member States to Adopt Its Cryptocurrency Regulations

France to Push EU Member States to Adopt Its Cryptocurrency Regulations

France is reportedly going to try to convince other European Union member states to adopt cryptocurrency regulations similar to its own, Reuters reported on April 15. Bruno Le Maire, French Minister of the Economy and Finance, reportedly stated that France will encourage other EU countries to adopt cryptocurrency regulations similar to those France approved last week. The news rules reportedly…

5 Cryptocurrency Tax Questions to Ask on April 15th

5 Cryptocurrency Tax Questions to Ask on April 15th

Depending on what country you live in, your cryptocurrency will be subject to different tax rules. The questions below address implications within the United States, but similar issues arise around the world. As always, check with a local tax professional to assess your own particular tax situation. 1. Do I need to report my cryptocurrency trades to the IRS? You…