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Regulations
FCC Chairman Brings up Blockchain, Mentions Need for New Regulations so New Technologies Will Not Be Disadvantaged
Many cryptocurrency and blockchain supporters have long lambasted governments and regulators across the world for a lack of flexibility to work with new and upcoming technologies. The chairman of the American telecom regulator, the US Federal Communications Commission (FCC), Ajit Pai has now stated that the US should not ”disadvantage” emerging technologies, such as blockchain technology, through holding on to outdated and firm regulations and rules. These comments were made…
Regulations
New Approved Laws in Spain: Citizens Must Declare All Crypto Holdings
New laws have been approved in Spain which will close a legal loophole through which citizens could avoid declaring assets they have in virtual currencies. As the tax man everywhere closes the gap between himself and crypto, Spain’s Council of Ministers has approved draft laws which seek to close loopholes in the law by which citizens could obfuscate their crypto holdings and therefore avoid paying taxes on earnings. Finance Minister María…
Regulations
Japan’s Cryptocurrency Industry Granted Self-Regulatory Status through JVCEA
The primary Japanese financial watchdog, the Financial Services Agency (FSA), has now announced that it has granted the Japanese cryptocurrency industry a self-regulatory status. More specifically, the FSA has certified an industry body, the Japanese Virtual Currency Exchange Association to oversee the space and become a ”certified fund settlement business association”, according to a recent report from Coinbase Japan. This certification means that domestic cryptocurrency exchanges in Japan will henceforth…