Do EU VAT Rules affect Bitcoin? Not really
With the new EU VAT legislation, which came into effect on 1 January 2015, the EU companies in the telecommunication, broadcasting or e-service field have to comply with new rules, which require companies selling e-services and goods within the EU to establish a proof of residence for their customers. EU tax evasion on the microscope. The newly launched VAT regulations focus on the prevention of tax evasion. More specifically, they aim to eliminate the advantage of large corporations to locate their offices in EU countries with low VAT rates in order to supply their products within the EU....
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FINRA believes the widespread use of blockchain could come to impact its core business practices. The self-regulatory organization for US brokers published a new report on blockchain tech yesterday that offers both a broad overview of the tech from the context of its industry, as well as its take on its potential impact on the brokerage sector. FINRA has been open about its work on the technology (in conjunction with its members) in the past, though the release constitutes some of its most direct comments to date. Most notably, FINRA said that, should the tech see broader use in the....
An often misunderstood topic is that of chain splits and how they are potentially resolved. With the recent proposal from Shaolinfry discussing User Activated Soft Forks (UASF) getting much attention, these misunderstandings must be clarified to fully understand the implications of chain splits and their potential resolutions. Types of Forks. Miners can create chain splits through the deliberate orphaning of blocks that appear to be valid to some clients. Users maintain a set of consensus rules that they require of all blocks. When users disagree about the sets of consensus rules to....
Crypto trading volumes in India have plummeted following the new tax law entering into force. The new rules impose a 30% flat tax on crypto income and do not allow losses to be offset against gains.
New Crypto Tax Rules in Effect
The new crypto tax rules entered into force on April 1 after the country’s parliament approved Finance Bill 2022. A flat tax of 30% now applies to crypto income with no deductions or loss offsets allowed.
On April 1, crypto exchanges in India began seeing sharp declines in trading volumes. Aditya Singh, who runs the Youtube....
In the long run, this news will be positive for the bitcoin ecosystem as a whole. The bitcoin world was rather shocked to find out the PBOC had another meeting with exchange operators. Although that had been announced weeks in advance, the market responded in a rather negative manner. As it turns out, this meeting took place to inform domestic exchanges about the AML and forex rules affecting all Chinese companies. Not adhering to these rules can result in the exchanges being shut down, albeit no one is violating the rules right now. It is not surprising to learn AML and foreign exchange....
A study has been conducted regarding the role of market makers in operating and trading ETFs over the past few years, as well as investors’ understanding of these vehicles. The SEC is taking a very close look at all exchange-traded funds, and they might impose “enhanced attention” rules. Tightened regulation of funds could be on the horizon, which, if this proposal is approved, could end up affecting all Bitcoin ETFs on the market today. SEC Chairwoman Focuses on ETFs. According to SEC Chairwoman Mary Jo White, “recent events” are forcing the hand of the institution to potentially impose....