UK To Bring Crypto Under Financial Services Laws By 2027
According to reports, the UK Treasury will extend existing finance laws to cover cryptoasset firms, with the new rules set to take effect in October 2027. Related Reading: Crypto’s Back-End Gets A Boost As Coinbase And Standard Chartered Join Forces This means exchanges, wallet providers and other crypto service companies will move beyond current anti-money-laundering […]
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Financial technology (fintech) has exploded during the last two years and cryptocurrency and blockchain firms have bolstered the billion-dollar industry. A recently published study by Utility Bidder indicates that the industry is predicted to surpass $382 billion by 2027. Moreover, fintech firms that are blockchain-specific are projected to be worth over $67.4 billion by 2027. The recent study also highlights that Kraken is the most influential blockchain company of 2021. Kraken Named 2021’s Most Influential Blockchain Company Numerous research studies have shown the fintech....
The blockchain’s immutability, one of its greatest strengths, could also prove to be one if its greatest limitations, given the need to reverse certain activities in financial services, argues Richard Lumb, an Accenture executive, writing in The New York Times. Lumb noted the bitcoin blockchain’s immutable record clashes with evolving privacy laws, such as newly-proposed European Union laws. He also noted that new laws in the U.S. require personal financial data to be easily redacted. He says immutability is becoming a serious blockchain technology issue, one also raised by the recent....
South Korea’s tax authority has begun preparations to implement its 20-22% tax on crypto income starting next year, fast-tracking the development of a tax base and tracking system to end years of delays for the Income Tax Act. Related Reading: Japan Regulators Target Crypto Deals In Real Estate With New Guidance NTS Begins 2027 Crypto […]
South Korea’s five largest crypto exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax — are already working with the National Tax Service to build reporting systems ahead of a major policy shift set for January 2027. Related Reading: Crypto Allies Gain Ground In Congress After Indiana Primary Win The coordination signals that the government is […]
Crypto is one of the backbones of the world’s gaming industry, which is growing and drawing in more game addicts. The value of the gaming sector might reach $350 billion by 2027 – thanks to cryptocurrency. The crypto world may be surprised by some of the surprising disclosures made by Triple A’s most recent cryptocurrency […]