If a new bill that was introduced to the U.S. senate is ratified, crypto users in the U.S. will no longer be obligated to report taxes for any transactions worth less than $50. The same goes for any under-$50 crypto earnings. The bill, named the Cryptocurrency Tax Fairness Act, was proposed by senators Patrick Toomey […]

Colombia is getting closer to finalizing its crypto legal framework. The Financial Superintendence of Colombia has put together a draft of crypto regulations, that members of the public can comment on. The regulations include rules on crypto transactions, cybersecurity, and means to combat blockchain-based money laundering and terrorist group financing. This comes after the unveiling […]

The Bank of Netherlands is fining one of the largest crypto exchanges, Binance, in the amount of €3.3 million. The reason for the fine is that Binance offered its services in the Netherlands while failing to obtain a license from the Dutch government. The regular fine for such offence is €2 million. However, the fine […]

The Senate in Paraguay has passed a bill detailing the tax and regulatory measures for the crypto industry in Paraguay. If the bill is ratified by president Mario Abdo Benítez, Paraguay will become one of the first Latin American countries that has a crypto legal framework in place. The bill will regulate crypto mining, trading, […]

Institutional adoption of blockchain-based solutions remains on the rise. In the United Kingdom, the court has now allowed the law firm Giambrone & Partners LLP to serve legal proceedings via NFTs. As part of a case of crypto misappropriation, Giambrone & Partners delivered legal papers directly to the defendant’s crypto wallet. This was done through […]

The European Union (EU) has finalized new rules that will apply to all crypto asset service providers regulated by the EU, including crypto exchanges. With these rules, the EU is looking to prevent terrorist financing, money laundering, and financing of organizations under economic sanction by the EU. Namely, crypto service providers will be required to […]

The United Kingdom government has announced that senders of crypto assets will not be required to collect information about asset recipients who use unhosted digital wallets. This is in contrast to the decision of the European Union to approve this proposal in March. The UK made this decision after consulting with industry experts and academics. […]

The most popular social media platform in China, WeChat, will ban all accounts that offer crypto and NFT services on the platform. This also includes secondary NFT trading. Between May and September last year, the Chinese government started to enforce a phased ban on the crypto sector. This followed a joint statement issued by the […]

President Laurentino Cortizo has partially vetoed the proposed bill aimed at regulating the use of cryptocurrency in Panama. This comes after Panama’s legislature approved the bill in late April. In 2021, El Salvador became the first country in the world where Bitcoin is legal tender. Now, Panama was close to becoming the second Latin America […]

Portugal’s Congress, the Assembleia da República, rejected on Wednesday two bills that sought to tax cryptocurrencies. The ruling Socialist Party, which holds the majority of the legislative assembly seats, has not submitted any taxation bill of its own so far. Portuguese Minister of Finance Fernando Medina announced last week that cryptocurrencies will be subject to […]