Crypto.com Weekly Regulatory Update (6/1/2022 – 12/1/2022, Week 1)
NYC’s Mayor Adams suggests buying the dip. Hong Kong’s plans regulatory crypto framework by July.
Key Takeaways
Getting paid in Bitcoin (BTC), newly sworn-in New York City Mayor Eric Adams suggests buying the dip, a move seen as using his influence to speak out publicly for the coin. Adams also reiterated in a Thursday interview his aim to make the city a crypto hub.
Thailand is set to implement a 15% capital gains tax on profits from crypto trading. While crypto investors and mining operators in the country are required to pay the tax in 2022, digital asset exchanges are reportedly exempt from this new duty.
Hong Kong's de facto central bank plans to get a new regulatory regime for crypto assets ready by July. The local monetary authority has launched a consultation on Wednesday seeking public views on ways to regulate crypto assets and stablecoins.
Highlights
SEC files complaint against the operator of ‘unregistered’ $33M Crowd Machine ICO
U.K. lawmakers form crypto advocacy group for parliament: Report
Swedish municipality looking to diversify investment portfolio with crypto
Turkish Parliament to weigh in on a new crypto bill to protect investors
El Salvador prepares regulatory framework to issue controversial Bitcoin bonds
Iran to allow crypto payments for international trade: Report
Indian crypto industry seeks tax clarity in Union Budget 2022-23
Ruling party sources deny plan to levy 40% tax on crypto yields in Turkey
Israeli Defense Minister cracks down on Hamas Funding Network
CEO of crypto-Ponzi scheme mirror trading international arrested in Brazil
U.A.E. regulators pave way for crypto and blockchain adoption, says legal expert
Pakistan to investigate Binance for multi-million dollar crypto scam
Coinbase, PayPal join TaxBit Network for free crypto tax forms
Global Crypto Policies (over the past 3 months)
*Ranking based on 2020 nominal GDP
Sources: International Monetary Fund, World Economic Outlook Database, April 2021
G20's Regulatory Stance on Crypto
Source: WhiteSight
Worldwide Policies on Crypto Taxation
Data as of 7 Jan 2022
Sources: Crypto.com Research, 3Commas, Decrypt, BusinessWord, Koinly
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