Binance Faces $86 Million Tax Bill from Indian Authorities Amid Intensified Scrutiny

by Theresa Joy Lacatan | Aug 7, 2024 | Blog News, Crypto News

On 5 August 2024, Indian authorities have issued a substantial tax bill to Binance, the world’s largest cryptocurrency exchange. The Directorate General of Goods and Services Tax Intelligence (DGGI) from Ahmedabad has served Binance with a show cause notice demanding...

Law Commission of England Publishes Digital Assets Draft Bill and Report: Proposes Third Category of Personal Property for Digital Assets

by Theresa Joy Lacatan | Aug 7, 2024 | Blog News, Crypto News

On 30 July 2024, the Law Commission of England and Wales published a supplemental report and draft Bill proposing the establishment of a third category of personal property to encompass certain digital and other assets. This initiative aims to clarify the legal status...

U.S. Senator Cynthia Lummis introduced Bill ‘BITCOIN Act of 2024’: Strategic Bitcoin Reserve to Revolutionize National Financial Security

by Theresa Joy Lacatan | Aug 5, 2024 | Blog News, Crypto News

On 5 August 2024, the United States Senator Cynthia Lummis is set to introduce the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024,” popularly known as the BITCOIN Act of 2024 in the second session...

CFTC Grants Exemptions to Singapore-Based FMX Securities and LMAX Pte. Ltd. from SEF Registration Requirements

by Theresa Joy Lacatan | Aug 5, 2024 | Blog News, Crypto News

On 2 August 2024, the Commodity Futures Trading Commission (CFTC) announced the unanimous approval of an amended order exempting two recognized market operators (RMOs) in Singapore from the swap execution facility (SEF) registration requirements. The RMOs receiving...

SEC Proposes Joint Data Standards to Enhance Financial Transparency

by Theresa Joy Lacatan | Aug 5, 2024 | Blog News, Crypto News

On 2 August 2024, the Securities and Exchange Commission (SEC) announced a proposal for joint data standards under the Financial Data Transparency Act of 2022. This initiative aims to establish technical standards for data submitted to various financial regulatory...

Latvijas Banka Published Financial Stability Report 2024: Talks about Cryptocurrency Regulations

by Theresa Joy Lacatan | Aug 5, 2024 | Blog News, Crypto News

On 26 July 2024, Latvijas Banka published its Financial Stability Report, offering a comprehensive analysis of Latvia’s financial system. The report addresses key areas such as the macrofinancial environment, the real estate market, credit institution sector...