New EU rules will introduce automated exchange of information on crypto revenues reported by service providers in the sector. A new directive adopted by the Union expands existing registration and reporting obligations as well as cooperation between tax administrations across the bloc. Information Sharing Between National Tax Administrations in EU to Cover Crypto Assets The […]
Author: Lubomir Tassev
Fidelity Submits Updated Spot Bitcoin ETF Application
Fidelity has submitted an updated proposal for a spot bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). The asset manager joins other applicants in continued efforts to address regulatory concerns that have stood in the way of approving the investment product. Fidelity Files Updated Spot Bitcoin ETF Prospectus With SEC Financial […]
South Korean Crypto Exchange Upbit Obtains Regulatory Approval in Singapore
Leading South Korean crypto exchange Upbit has been granted regulatory approval by Singapore’s main financial regulator. The authorization will allow the trading platform to provide regulated services in the Southeast Asian city-state which has established itself as a crypto hub. Upbit Singapore Gets In-Principle Approval for Major Payment Institution License The Singapore subsidiary of cryptocurrency […]
Swiss Bank Offers Clients Crypto Lending Product
Swiss online bank Dukascopy has introduced a new lending product that enables customers to borrow against their cryptocurrency. The solution allows users to receive 50% of the value of their digital assets in fiat currency while retaining their original crypto investments. Switzerland-Regulated Dukascopy Bank Launches Automated Crypto Lending Feature Geneva-headquartered Dukascopy Bank is now offering […]
Russian Crypto Exchange Moves Money for Gaza Groups, Report
Palestinian militant organizations, including a Hamas-linked Islamist group, have been using a Moscow-based crypto exchange to transfer millions, a press report revealed. The U.S.-sanctioned platform, which allows customers to convert Russian cash to crypto and then withdraw fiat abroad, has been also serving criminal gangs and rich Russians, sources claim. Russian Exchange Allegedly Transfers Millions […]
Banking Scams Overtake Crypto Frauds in Ireland
Fraudsters targeting victims in Ireland are increasingly posing as bank officials rather than crypto promoters, the local press reported quoting police. Amid the growing trend, Irish investors have lost millions of euros to this type of schemes this year, with law enforcement authorities having recovered only a fraction. Criminals Drop Crypto Frauds in Favor of […]
US Mulls Tighter Restrictions on AI Chip Shipments to Chinese Firms, Report
The government in Washington is reportedly considering further limiting China’s access to U.S. processors used in artificial intelligence (AI) applications. The current restrictions, which were introduced last year, allow Chinese companies to source the chips through overseas subsidiaries. Washington Seeks to Further Curb Chinese Access to American AI Chips, Sources Say The administration of President […]
Deadline for SEC Appeal Against Grayscale’s Spot Bitcoin ETF Ruling Expires
The U.S. securities regulator has apparently missed a deadline to appeal a court ruling against its rejection of Grayscale’s spot bitcoin ETF application. Media reports, quoting sources familiar with the matter, unveiled ahead of the deadline that the agency was not planning to appeal the decision which potentially paves the way for the application’s review. […]
CFTC Sues Former CEO of Crypto Lender Voyager for Fraud
The U.S. Commodity Futures Trading Commission (CFTC) charged the former CEO of bankrupt cryptocurrency lender Voyager Digital with fraud. The regulator accused Stephen Ehrlich and the company of luring investors with promises of high-yield returns while breaking derivatives rules. Ehrlich was also sued by the Federal Trade Commission (FTC). U.S. Commodities Regulator Takes Legal Action […]
China Opens Digital Yuan Park in Shenzhen
Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen to Invest $14 Million in 3 Years to Develop Digital Yuan […]