No Result
View All Result
No Result
View All Result
No Result
View All Result
\n
\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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ADVERTISEMENT
\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Along with this, regulators have been working closely<\/a> with the police. Ensuring that there are no illicit cross-border transactions stemming from their country.<\/p>\n\n\n\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

China recently doubled down on its regulations with the announcement of an amendment<\/a> that makes crypto fundraising an illegal offense. <\/p>\n\n\n\n

Along with this, regulators have been working closely<\/a> with the police. Ensuring that there are no illicit cross-border transactions stemming from their country.<\/p>\n\n\n\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Chinas Efforts At Regulation<\/h2>\n\n\n\n

China recently doubled down on its regulations with the announcement of an amendment<\/a> that makes crypto fundraising an illegal offense. <\/p>\n\n\n\n

Along with this, regulators have been working closely<\/a> with the police. Ensuring that there are no illicit cross-border transactions stemming from their country.<\/p>\n\n\n\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

A recent Bloomberg report<\/a> states that in the PBOCs annual meeting, which maps out the financial markets regulatory priorities for the coming year, crypto regulations were high on the list. The statement expressed that China will \"continue to maintain a high-pressure crackdown on virtual currency trading speculation.\"<\/p>\n\n\n\n

Chinas Efforts At Regulation<\/h2>\n\n\n\n

China recently doubled down on its regulations with the announcement of an amendment<\/a> that makes crypto fundraising an illegal offense. <\/p>\n\n\n\n

Along with this, regulators have been working closely<\/a> with the police. Ensuring that there are no illicit cross-border transactions stemming from their country.<\/p>\n\n\n\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

A statement<\/a> made by Peoples Bank Of China (PBOC) iterated there are no plans to stop their crackdown on cryptocurrencies.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> states that in the PBOCs annual meeting, which maps out the financial markets regulatory priorities for the coming year, crypto regulations were high on the list. The statement expressed that China will \"continue to maintain a high-pressure crackdown on virtual currency trading speculation.\"<\/p>\n\n\n\n

Chinas Efforts At Regulation<\/h2>\n\n\n\n

China recently doubled down on its regulations with the announcement of an amendment<\/a> that makes crypto fundraising an illegal offense. <\/p>\n\n\n\n

Along with this, regulators have been working closely<\/a> with the police. Ensuring that there are no illicit cross-border transactions stemming from their country.<\/p>\n\n\n\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 15 16 17 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"UAE To Exclude CBDCs And NFTs From Their Legislation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uae-to-exclude-cbdcs-and-nfts-from-their-legislation","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/crypto-essentials-central-bank-digital-currencies-cbdcs\/","post_modified":"2023-04-11 12:52:55","post_modified_gmt":"2023-04-11 02:52:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3873","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3787,"post_author":"1","post_date":"2022-03-07 18:01:01","post_date_gmt":"2022-03-07 07:01:01","post_content":"\n

A statement<\/a> made by Peoples Bank Of China (PBOC) iterated there are no plans to stop their crackdown on cryptocurrencies.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> states that in the PBOCs annual meeting, which maps out the financial markets regulatory priorities for the coming year, crypto regulations were high on the list. The statement expressed that China will \"continue to maintain a high-pressure crackdown on virtual currency trading speculation.\"<\/p>\n\n\n\n

Chinas Efforts At Regulation<\/h2>\n\n\n\n

China recently doubled down on its regulations with the announcement of an amendment<\/a> that makes crypto fundraising an illegal offense. <\/p>\n\n\n\n

Along with this, regulators have been working closely<\/a> with the police. Ensuring that there are no illicit cross-border transactions stemming from their country.<\/p>\n\n\n\n

Again, one of the most concise crackdowns on cryptocurrency mining<\/a> and trading was made<\/a> in Beijing during May of 2021. The crackdown consisted of kicking major mining and crypto exchanges out of the whole country in an effort to minimize the use of cryptocurrencies in China.<\/p>\n\n\n\n

The efforts have seemed to take the intended effect in China so far. With China's global proportion of bitcoin transactions in China dropping rapidly from more than 90% to 10%, stated <\/a>the PBOC.<\/p>\n\n\n\n

\n\n\n\n

Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling or holding of cryptocurrencies and digital assets.\u00a0<\/p>\n","post_title":"Chinas Central Bank Has No Plans To Stop Strict Crypto Crackdown","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-central-bank-has-no-plans-to-stop-strict-crypto-crackdown","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/chinas-supreme-court-declares-crypto-transactions-illegal\/","post_modified":"2023-04-11 12:52:33","post_modified_gmt":"2023-04-11 02:52:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3787","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3780,"post_author":"1","post_date":"2022-03-06 20:27:51","post_date_gmt":"2022-03-06 09:27:51","post_content":"\n

The U.S. Securities and Exchange Commission (SEC) is launching an investigation into the NFT market over potential violations against the agency's rules.<\/p>\n\n\n\n

A recent Bloomberg report<\/a> stated that unidentified sources 'familiar with the matter' believe that the SEC is looking at whether or not NFTs are being used to raise money like traditional securities. <\/p>\n\n\n\n

The audit is the latest attempt by the SEC to ensure that the cryptocurrency markets are following its strict regulations.<\/p>\n\n\n\n

As a part of the SEC's audit, they will take a close look at fractional NFTs. These involve breaking down a digital asset into separate units that allow for multiple people to claim ownership of a single token. The SEC believes that the process fractional NFTs take could potentially violate regulatory rules.<\/p>\n\n\n\n

\u201cGiven the breadth of the NFT landscape, certain pieces of it might fall within our jurisdiction,\u201d<\/em><\/p>Hester Peirce, SEC Commissioner on CoinDesk TV<\/a> <\/cite><\/blockquote>\n\n\n\n

There has been no word from the SEC on the audit as of yet. All news comes from anonymous sources because the probe hasn't been disclosed publicly states Bloomberg.<\/p>\n","post_title":"SEC Audits The NFT Market Over Potential Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sec-audits-the-nft-market-over-potential-violations","to_ping":"","pinged":"","post_modified":"2023-04-11 12:52:44","post_modified_gmt":"2023-04-11 02:52:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3780","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3630,"post_author":"1","post_date":"2022-02-27 21:50:42","post_date_gmt":"2022-02-27 10:50:42","post_content":"\n

China's Supreme Court deemed<\/a> that virtual asset transactions now fall under illegal fundraising. <\/p>\n\n\n\n

The amendment comes into play on March 1st. It rules that those prosecuted under Article 176 of China's Criminal Law<\/a> will face penalties depending on the amount raised.<\/p>\n\n\n\n

Fundraising that exceeds 100,000 yuan (US$15,800) is categorized as a \u201clarge amount\u201d which sets forth prison sentences between 3 and 10 years with fines between 50,000 Yuan (US$7,900) and 500,000 Yuan ($79,000).<\/p>\n\n\n\n

Less serious fundraising will be prosecuted with no more than 3 years in prison, with a fine from 20,000 Yuan (US$3160) to 200,000 Yuan (US$31,600).<\/p>\n\n\n\n

The new law accompanies China's efforts to root out financial scams and money laundering by \u201cpunishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability\u201d.<\/p>\n","post_title":"China's Supreme Court Declares Crypto Transactions \"Illegal Fundraising\"","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"chinas-supreme-court-declares-crypto-transactions-illegal","to_ping":"","pinged":"","post_modified":"2022-02-27 21:51:55","post_modified_gmt":"2022-02-27 10:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3630","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3627,"post_author":"1","post_date":"2022-02-27 16:13:25","post_date_gmt":"2022-02-27 05:13:25","post_content":"\n

Vladimir Putin's recent decision to invade Ukraine has had a negative impact<\/a> on the global financial system. Although markets have recovered<\/a> this is the beginning for Russia's economy.<\/p>\n\n\n\n

The US, UK, Canada, and Europe agreed to block some Russian banks from SWIFT<\/a> to \"further isolate Russia from the international financial system\". <\/p>\n\n\n\n

What Is SWIFT?<\/h2>\n\n\n\n

The Society for Worldwide Interbank Financial Telecommunication is a Belgian-based messaging system. It facilitates transactions between more than 11,000 banks and financial institutions across 200 countries. SWIFT makes cross-border payments and international trade possible.<\/p>\n\n\n\n

Excluding certain Russian banks from the SWIFT system used for transactions worth trillions will hit the Russian economy, hard. The White House added that it will make Russia rely on \"the telephone or a fax machine\" to make payments.<\/p>\n\n\n\n

Will Russia Pivot To Crypto?<\/h2>\n\n\n\n

According to a Bloomberg<\/a> report, Russian billionaires may switch to cryptocurrencies to navigate around financial blockades and sanctions.<\/p>\n\n\n\n

\u201cIf a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin in order to be protected from such actions.\u201d<\/em><\/strong><\/p>Mati Greenspan, CEO at Quantum Economics<\/cite><\/blockquote>\n\n\n\n

Vladimir Putin is an advocate for crypto, recently going against the recommendations of his own central bank to ban cryptocurrencies<\/a>. Russia currently owns around 12% of the world's cryptocurrencies<\/a> and a BeInCrypto report<\/a> suggests Russias 'Crypto Toolbox' may help them dodge sanctions.<\/p>\n\n\n\n

Despite these facts, Robbie Liu a researcher from Babel Finance told\u00a0Forkast<\/a>\u00a0that \"it is unrealistic for Russia to avoid sanctions using crypto as the market is mainly denominated in USD-pegged stablecoins<\/a>.\"<\/p>\n\n\n\n

There are also measures in place that allow for entities to identify where transactions come from. Making it much harder for sanctioned nations to move around useful sums of money. <\/p>\n\n\n\n

Chainalysis<\/a> is a company that tracks cross-border criminal activities on blockchains. So far, no unusual activities have been detected within Russia or Ukraine. Head of international policy, Caroline Malcome states that \u201cany information on relevant wallet addresses will be added to our products and available to our partners immediately,\u201d<\/p>\n\n\n\n

<\/p>\n","post_title":"Will Russian Banks Blocked From SWIFT Turn To Crypto?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russian-banks-blocked-from-swift-turn-to-crypto","to_ping":"","pinged":"","post_modified":"2023-04-11 00:21:58","post_modified_gmt":"2023-04-10 14:21:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3627","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3561,"post_author":"1","post_date":"2022-02-23 18:44:52","post_date_gmt":"2022-02-23 07:44:52","post_content":"\n

Ontario Superior Court of Justice sent\u00a0Nunchuk<\/a>\u00a0a self-custodial\u00a0Bitcoin wallet\u00a0a\u00a0Mareva Injunction<\/a>, ordering it to freeze and disclose information about the assets involved in the Freedom Convoy 2022 campaign in an effort to derail the funds being sent in support of the truckers protesting Covid-19 restrictions.<\/p>\n\n\n\n

Nunchuck's official response reads that it is a \u201cself-custodial, collaborative multi-sig Bitcoin wallet\u201d and that it's a \u201csoftware provider, not a custodial financial intermediary.\u201d<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/nunchuk_io\/status\/1494885897577271299?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494885897577271299%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ffinbold.com%2Fbitcoin-wallet-rejects-canadas-court-demand-to-freeze-funds-citing-technically-impossible%2F\n<\/div><\/figure>\n\n\n\n

Going Against Court Orders<\/h2>\n\n\n\n

Cryptocurrency is decentralized by nature, it has gained traction was to prevent things like this from happening. So far, it has held up against the legal system.<\/p>\n\n\n\n

Coinbase CEO, Brian Armstrong claimed it is \u201cconcerning to see stuff like this happening in any country, especially such an economically free place like Canada.\u201d<\/p>\n\n\n\n

After GoFundMe decided to not distribute $9 million raised<\/a> in support for the truckers, crypto quickly became the main way to donate to the cause. <\/p>\n","post_title":"Canadian Courts Demand To Freeze Funds Rejected By Crypto Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"canadian-courts-demand-to-freeze-funds-rejected-by-crypto-wallet","to_ping":"","pinged":"","post_modified":"2022-02-23 18:44:58","post_modified_gmt":"2022-02-23 07:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3561","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3524,"post_author":"1","post_date":"2022-02-20 16:39:24","post_date_gmt":"2022-02-20 05:39:24","post_content":"\n

The Federal Reserve has put new rules in place on its staff. They will not be allowed to trade a group of assets including stocks, bonds, and cryptocurrencies.<\/p>\n\n\n\n

The rules<\/a> \u201caim to support public confidence in the impartiality and integrity of the Committee\u2019s work by guarding against even the appearance of any conflict of interest,\u201d according to a statement<\/a> made by the federal reserve on February 18th, along with \"upholding the highest standards of ethical conduct,\".<\/p>\n\n\n\n

The rules are to take effect on the 1st of May this year. Regional presidents Eric Rosengren of Boston and Robert Kaplan\u00a0have already left their positions<\/a>\u00a0following the controversy.<\/p>\n\n\n\n

Under the new regulations<\/a>, officials still holding market positions will still have 12 months to clear their prohibited positions. While new Federal officials will have only six months.<\/p>\n\n\n\n

Prohibited positions include treasury bonds and notes, agency securities, cryptocurrencies, commodities, or foreign currencies.((https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/FOMC_InvestmentPolicy.pdf))<\/p>\n\n\n\n

Additionally, senior Federal Reserve officials will be required to provide 45 days' non-retractable notice for purchases and sales of securities, obtain prior approval for such transactions, and hold investments for at least one year. Purchases and sales also will be prohibited during periods of heightened financial market stress.((https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220218a.htm))<\/p>\n","post_title":"Federal Reserve Officials Banned From Trading Crypto","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"federal-reserve-officials-banned-from-trading-crypto","to_ping":"","pinged":"","post_modified":"2022-02-20 16:39:26","post_modified_gmt":"2022-02-20 05:39:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3453,"post_author":"1","post_date":"2022-02-12 17:06:40","post_date_gmt":"2022-02-12 06:06:40","post_content":"\n

Gy\u00f6rgy Matolcsy, the governor of the Central Bank of Hungary is supporting the proposed crypto ban by the Russian Central Bank, expressing his agreement with the proposal to ban trading and mining of cryptocurrencies.<\/p>\n\n\n\n

This comes after the recent news<\/a> that the Russian central bank was in support of banning the trading and mining of cryptocurrencies. Matolcsy stated<\/a> that \"it is clear-cut that cryptocurrencies could service illegal activities and tend to build up financial pyramids.\" <\/p>\n\n\n\n

He also added that the \"growth and market value of cryptocurrencies is defined primarily by speculative demand for future growth, which creates bubbles.\u201d Calling for unity within the EU, Matolcsy wants the EU to \"act together\" in order to preempt the building up of \"new financial pyramids and financial bubbles.\"<\/p>\n\n\n\n

It seems that he is in support of banning it from the EU, but not worldwide. \"EU citizens and companies would be allowed to own cryptocurrencies abroad and regulators will track their holdings.\" <\/p>\n\n\n\n

As Matolscy stated above, the growth and market value of cryptocurrencies is defined by speculative demand for future growth, is the support for the ban just a way to see if other countries can manage and regulate cryptocurrencies before he makes a decision on what to do, or is it another technology that isn't fully understood?<\/p>\n","post_title":"Hungarian Central Bank In Support Of Russian Crypto Ban","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"hungarian-central-bank-in-support-of-russian-crypto-ban","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/will-russia-ban-bitcoin-likely-not-heres-why\/","post_modified":"2022-02-12 17:07:44","post_modified_gmt":"2022-02-12 06:07:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3453","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3404,"post_author":"1","post_date":"2022-02-07 22:13:14","post_date_gmt":"2022-02-07 11:13:14","post_content":"\n

The Venezuelan government has approved a new bill \"Large Financial Transaction<\/a>\" that will affect payments using both cryptocurrencies and foreign currencies. <\/p>\n\n\n\n

The bill, filed on January 20th, states that transactions made with either cryptocurrencies or foreign currencies will be taxed from 2% up to 20% per movement((https:\/\/www.bancaynegocios.com\/impuesto-a-las-grandes-transacciones-incentivaria-el-comercio-informal-afirma-oscar-torrealba\/)), depending on who is moving the money and why they are doing so.<\/p>\n\n\n\n

The current percentage lies at a mere 2.5%, although this is still the first application of the bill. Once the law is published, the official tax will be stated by the national government.<\/p>\n\n\n\n

The reasoning behind the bill is to incentivize the use of the Venezuelan Bol\u00edvar, which has lost over 73% of its value in the last year.((https:\/\/www.aljazeera.com\/economy\/2021\/10\/1\/venezuela-introduces-new-currency-drops-six-zeros)) <\/p>\n\n\n\n

\"it is necessary to guarantee at least equal or more favorable treatment for payments and transactions made in national currency or in cryptocurrencies or cryptoactives issued by the Bolivarian Republic of Venezuela versus payments made in foreign currency.\" the bill<\/a> states<\/p>\n","post_title":"New Venezuelan Bill Collects 20% Tax On Cryptocurrency","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"new-venezuelan-bill-collects-20-tax-on-cryptocurrency","to_ping":"","pinged":"","post_modified":"2022-02-07 22:15:25","post_modified_gmt":"2022-02-07 11:15:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3359,"post_author":"1","post_date":"2022-02-03 22:28:27","post_date_gmt":"2022-02-03 11:28:27","post_content":"\n

After the introduction of a 30% tax<\/a> on Cryptocurrencies and other digital assets was introduced in India, the government comes closer to legalization and regulation.<\/p>\n\n\n\n

People were quick to react to the news, sparking a petition<\/a> against the major tax increase, \"Government of India: Introduce Reasonable Crypto Tax Policies\". <\/p>\n\n\n\n

With an estimated 20 million investors affected by the change in India, the petition has become popular on Change.org with over 25,000 signatures at the moment, with a large amount of these investors actively involved in the development of various cryptocurrency projects.<\/p>\n\n\n\n

\"\"
Source: Change.org<\/em>
<\/figcaption><\/figure>\n\n\n\n

<\/p>\n","post_title":"Petition To Reduce 30% Tax On Crypto Gains In India Reaches 25,000 Signatures","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"petition-to-reduce-30-tax-on-crypto-gains-in-india-reaches-a-25000-signatures-milestone%ef%bf%bc","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/indias-finance-secretary-still-believes-crypto-is-a-grey-area\/","post_modified":"2022-02-03 22:30:26","post_modified_gmt":"2022-02-03 11:30:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3359","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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