UK Mulls Over DeFi Tax Treatment Modification for Crypto
The UK government seeks opinions on altering tax treatment for DeFi lending and staking, potentially changing cryptoasset disposals in non-DeFi transactions.
Cryptoregulation
Russia Takes Lead, Allows International Trade in Bitcoin
Russian leaders have just announced that the nation will allow international trade in Bitcoin and other cryptos without industry restriction.
Singapore Plans to Broaden Crypto Regulations After Shakeout
Singapore is a popular location for cryptocurrency companies. Recent market events clearly demonstrated the risks with prices of several cryptocurrencies dipping significantly. Singapore’s government plans to tighten restrictions on retail investment in cryptocurrencies. Following a string of difficulties including Terra 3AC Babel Vauld, the Singapore government plans to tighten restrictions on retail investment in cryptocurrencies, aligning with global authorities and expanding regulation coverage. The Monetary Authority of Singapore (MAS) said in a statement that the new measures are intended to “strengthen investor protection and safeguard the integrity of the financial system”. Singapore is a popular location for cryptocurrency companies due
Bank of England to Create Crypto Regulation Draft
The Bank of England is looking to regulate cryptocurrencies and stablecoins. The invasion of Ukraine and the risk of fast-growing crypto assets are the main reasons for developing these new regulations. Stablecoins should meet expectations before they could be accepted as a means of payment. The Bank of England (BoE), the central bank of the United Kingdom, has reportedly begun developing a new structure that seeks to bring cryptocurrencies and stablecoins into numerous existing regulatory fields. According to a report by Reuters, the two main reason why crypto has become the spotlight of developing new regulations is the ability of
