/ Law

May 14, 2019 / Law

US Watchdogs Want To Enact A Tax Exemption On Cryptocurrency Transactions Which Amount Less Than $ 600

Token Taxonomy Act, which was recently resubmitted to the US Congress, will potentially exempt transactions of less than $ 600 from taxes. This was announced at the conference Consensus by the executive director of the organization Coin Center Jerry Brito. So, the law provides for a change in some points in taxation. In particular, if […]

February 4, 2019 / Law

American Federal Dictrict Сourt Found Bitcoin Cryptocurrency To Be Money

The Michigan District Court (USA) declared Bitcoin (BTC) cryptocurrency as a legal money. This verdict was rendered during the consideration of a criminal case on the fact of money laundering using digital assets on the LocalBitcoin cryptocurrency trading platform. At hearing, the defense stated that Bitcoin is not to be adle to consider a monetary asset, […]

January 24, 2019 / Law

Singapore’s Minister For Law Outlaws Cryptocurrency

Singapore’s Minister for Law called cryptocurrency a nonlegal payment instrument and urged corporate structures to refrain from using digital assets to pay for goods and services. The Singapore government passed a law to regulate cryptocurrencies, and therefore provided digital assets with a legal status. However, they are viewed negatively by the law enforcement agencies and […]

December 19, 2018 / Law

Cryptocurrency Exchange Coincheck Will Get A License This Year

Financial Services Agency (FSA) of Japan approved an application for a license by Coincheck cryptocurrency exchange. According to the Nikkei news agency, the FSA will issue a license later this year, however, representatives of the exchange have not confirmed this information yet. Unknown attackers hacked Coincheck in January 2018. Fraudsters managed to take advantage of the security vulnerabilities in […]

January 23, 2018 / Law

South Korea Will Ban Anonymous Cryptotrading From January 30

The authorities of South Korea intensified the rugulation of cryptocurrencies trading. The innovations will come into force on January 30, according to Financial Services Commission. Now each trader must identify himself through the bank account to buy or sell a cryptocurrency. In this case, the name of the owner of the cryptocurrency account must coincide with the name of the […]

December 23, 2017 / Law

Belarus President Signed A Decree That Legalizes Mining And Cryptocurrencies

President of Belarus Alexander Lukashenko signed the decree about the development of the digital economy, which pays much attention to the cryptocurrency payments development and blockhain technology. Thus, the decree establishes conditions for using of cryptocurrency and tokens, and also introduces tax credits for cryptocurrency transactions. Within three months after the adoption of the decree, the National […]

October 30, 2017 / Law

ICOs in Japan May Fall Within The Scope Of The Payment Services Act Or The Financial Instruments And Exchange Act

Initial coin offerings (ICO) can be regulated by several current laws in Japan. This stated in the official statement of the Japan Financial Services Agency (FSA). As the regulator explained, ICOs may fall within the scope of the Payment Services Act or the Financial Instruments and Exchange Act. FSA said in a statement: If an ICO has the characteristics of […]

September 30, 2017 / Law

China Is Going To Regulate Cryptocurrencies

Chinese media Jinse.com reported that regulators will issue laws to regulate virtual currencies on October 1, 2017. Jinse states that the cryptocurrency rules has included in the “General Principles of the Civil Law of the People’s Republic of China”, – the legislation, which adopted on March 15, 2017.  It is expected that virtual currencies will receive the status of “virtual property” […]

September 5, 2017 / Law

Hong Kong Can Clasify ICO Tokens As Securities

Securities and Futures Commission (SFC) reported that tokens issued in the framework of the initial coin offers can be classified as securities. According to regulator’s executive director of intermediaries Julia Leung, Securities and Futures Commission is “concerned about an increase in the use of ICOs to raise funds in Hong Kong and elsewhere.” Also, the representative of the regulator […]

July 13, 2017 / Law

South Korea Will Legalize International Money Transfers In Bitcoin

On 18 July in South Korea take effect a law, allowing fintech companies to offer international transactions in bitcoin.  According to the amendments to the law on foreign exchange operations, fintech companies need to register with the Financial Supervisory Service (FSS) in order to legally provide international money transfer services. After that, the company will be able to use […]

July 10, 2017 / Law

In Japan Starts The Trial Of MtGox Founder Mark Carpeles

This week the former head of the Bitcoin exchange MtGox, Mark Carpeles, will stand trial in Japan for charges of theft and squandering hundreds of millions of dollars.  32-year-old French entrepreneur was the founder of the exchange MtGox, through which in 2011-2013 there was a significant amount of traders. In many respects thanks to the activity of MtGox, […]

June 15, 2017 / Law

Coinbase Suspected Of Laundering Funds Stolen From Cryptsy Clients

Millions of dollars stolen from users of the cryptocurrency exchange Cryptsy, could laundered through Coinbase. Such statement is contained in the collective lawsuit of the clients Cryptsy last year. According to this document Coinbase have to know about the dubious origin of $ 8.3 million. Apparently, these funds operated through Coinbase in a few years.  Moreover, as it became […]