Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requirements
Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as legal entities. Crypto Industry’s Letter to EU Policymakers Forty-six European crypto businesses and organizations have sent a letter to 27 EU finance ministers regarding disclosure requirements for crypto transactions, Reuters reported this week, noting that it has seen the....
Related News
The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST.
G7 Countries Calling for Swift, Comprehensive Regulation of Crypto Assets
The finance ministers and central bank governors from the Group of Seven (G7) industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20.
Among the topics they discussed was the regulation of crypto assets following the recent....
Finance ministers from more than 50 countries recently signed the Multilateral Competent Authority Agreement, with another 30 countries pledging to sign the agreement by 2018. The agreement, signed in Berlin, is an effort to end what the US Bank Secrecy Act, which they called “obsolete.” The ministers met for two days in a summit arranged by the Organization for Economic Cooperation and Development (OECD) and the Global Forum on Transparency and Exchange of Information for Tax Purposes and was hosted by German Finance Minister, Wolfgang Schaeuble. The “Bank Secrecy Act” (Currency and....
The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook’s upcoming cryptocurrency. G7 Sees the Need to Regulate Crypto U.S. Treasury Secretary Steven Mnuchin hosted a discussion on Monday with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K., the European Commission, and the Eurogroup. The meeting was also attended by the heads of the International Monetary Fund (IMF), the World Bank, and the....
The Indian government has introduced new cryptocurrency disclosure rules. Companies dealing in cryptocurrencies will have to disclose their crypto holdings, among other disclosures, as part of their financial statements beginning April 1. New Crypto Disclosure Requirements The Indian Ministry of Corporate Affairs (MCA) issued a notification last week mandating companies to disclose crypto trading and investments during the financial year. These disclosures will be required starting on April 1, which is when India’s financial year 2021-22 begins. Every company which “has traded....
Europe is one step closer to getting a concrete legal framework for digital finance. The European Commission is moving to provide more legal clarity and certainty for the cryptocurrency industry in its member states.On Sept. 24, the EC officially adopted a new digital finance package including digital finance and retail payments strategies, as well as legislative proposals on crypto assets. The EC said that the new package represents the first time that the authority proposed new legislation on crypto assets.As part of the new legislative proposals, the EC pays special attention to....