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\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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
<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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":"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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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
\"\"
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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

\"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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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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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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

\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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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 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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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

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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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> 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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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"},{"ID":3355,"post_author":"1","post_date":"2022-02-02 22:30:45","post_date_gmt":"2022-02-02 11:30:45","post_content":"\n

T. V. Somanathan, Indias Finance Minister, insists on cryptocurrencies being a 'grey area' being neither illegal nor encouraged.<\/p>\n\n\n\n

\u201cCrypto-assets are currently neither illegal nor are they encouraged. So they\u2019re in a sort of a grey area.\u00a0<\/em><\/strong><\/p>T. V. Somanathan<\/cite><\/blockquote>\n\n\n\n

Clarifying in an interview with Bloomberg, Somanathan states Indians can still trade digital assets - but now with a heightened tax of 30% on gains.<\/p>\n\n\n\n

The recent tax increase is because crypto is seen as speculative transactions rather than financial market transactions due to the volatile nature of digital assets.<\/p>\n\n\n\n

The increase came because finance minister, Nirmala Sitharaman noted a 'phenomenal increase' in digital asset transactions - causing the need for a tax regime.<\/p>\n\n\n\n

Regulate, Rather Than Ban<\/h2>\n\n\n\n

After considerations imposing a total ban on Cryptocurrencies due to their threats to financial stability and macroeconomics, the country has turned to a less head-on approach.<\/p>\n\n\n\n

Somanathan plans that the country will examine international cryptocurrency regulation before rolling out its own framework. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Watch the full video:<\/strong>\u00a0Crypto Assets Not Illegal or Encouraged in India: Finance Secretary<\/em><\/p>\n\n\n\n

\nhttps:\/\/www.youtube.com\/watch?v=0gPP44s6bmc\n<\/div><\/figure>\n","post_title":"India's Finance Secretary Still Believes Crypto Is A 'Grey Area'","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"indias-finance-secretary-still-believes-crypto-is-a-grey-area","to_ping":"","pinged":"","post_modified":"2022-02-02 22:30:49","post_modified_gmt":"2022-02-02 11:30:49","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3341,"post_author":"1","post_date":"2022-01-31 22:09:02","post_date_gmt":"2022-01-31 11:09:02","post_content":"\n

The Russian Government has started the development of a guide that will present limitations on cryptocurrencies.<\/p>\n\n\n\n

The roadmap presented by the Russian Government and approved by Deputy Chairman Dmitry Chernyshenko will work to ease the adoption of cryptocurrencies while halting financial instability. <\/p>\n\n\n\n

It will seek to provide a regulatory framework within the cryptocurrency markets having with an emphasis on violations and dangers within the industry.<\/p>\n\n\n\n

The roadmap goes against the recently proposed blanket ban on cryptocurrencies - as per the Russian Central Bank. Suggesting that crypto-related activities such as payments, exchange, and mining be banned, as it risks financial stability for the citizens of the nation.<\/p>\n\n\n\n

What Do Russia's Regulations Entail?<\/h2>\n\n\n\n

The National Bank, through this guide, advocates having an administrative and prohibitive system for cryptocurrencies. This change of position comes after Putin demanded showing up at an agreement in regards to this.<\/p>\n\n\n\n

Putin has recognized that, although cryptocurrencies convey a specific measure of hazard coming from its volatility, digital currency mining guarantees a ton of upper hand to the country.<\/p>\n\n\n\n

Since Russia enjoys the benefit of having the option to give cheap power, it will remain the third-biggest country for crypto mining.<\/p>\n\n\n\n

\"Regulation will only provide the transparency that will ensure the protection of citizens.\"<\/strong><\/em><\/p>Ivan Chebeskov, Head Of The Financial Policy Department<\/cite><\/blockquote>\n\n\n\n

<\/p>\n","post_title":"Will Russia Ban Bitcoin? Likely Not; Here's Why...","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"will-russia-ban-bitcoin-likely-not-heres-why","to_ping":"","pinged":"","post_modified":"2023-04-11 12:56:24","post_modified_gmt":"2023-04-11 02:56:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3341","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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Most Read

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Follow The Distributed

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Regulation

1 … 15 16 17 18

Most Read

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