One of Pakistan’s four provinces urges federal gov’t to legalize crypto
The draft resolution reportedly notes that digital currencies are likely to replace paper currencies in the future. The assembly of Khyber Pakhtunkhwa, a province in northwestern Pakistan, has become the first legislative assembly to call for changes in the country’s stance toward cryptocurrencies.As previously reported, Pakistan has, to date, been relatively slow to introduce new frameworks for digital assets and cryptocurrencies. This week’s resolution to the Khyber Pakhtunkhwa Assembly was reportedly introduced on Dec. 2 by Sumera Shams, a member of the provincial assembly and the....
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The SHC also asked for a report on deliberations surrounding crypto regulations within the same time period. The High Court of Sindh (SHC), the highest judicial body in Pakistan’s Sindh Province, has asked the government to come up with modalities for cryptocurrency regulation.According to Pakistani English daily The Express Tribune, the SHC gave the instruction while hearing a petition brought before the court challenging the legality of the country’s 2018 crypto ban.The SHC instructed regulators such as the Securities and Exchange Commission of Pakistan (SECP) and the central bank to....
A new crypto tax paradigm is brewing in Argentina, where two provinces have now approved crypto tax laws. This means that Argentinian citizens must disclose their cryptocurrency holdings and pay taxes according to the trades they do in the provinces of Tucuman and Cordoba. This is because cryptocurrencies have been grouped with all other international currencies, and are therefore subject to tax.
Cryptocurrencies Will Be Taxed in Certain Provinces of Argentina
Cryptocurrency taxes have arrived in Argentina, at least in certain provinces. Now, users that trade and hold....
Pakistan’s finance and law ministries are yet to make a decision on a potential blanket ban on crypto in the country. The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan.Pakistan’s Sindh High Court reportedly held a hearing related to the legal status of cryptocurrencies in the country, in which several Pakistani authorities, including the SBP, submitted a document to the court, arguing that cryptocurrencies like Bitcoin (BTC) are illegal and cannot be used for trade. According to local news channel Samaa TV, the document cited at least....
Following the regulatory sandbox approval by Canadian regulators, Wealthsimple announced that it has launched “Canada’s first regulated crypto platform.” The new crypto exchange is regulated by the federal government as well as regulators in 13 provinces and territories in Canada. Wealthsimple Crypto Regulated in All Provinces and Territories in Canada Canadian investment management firm Wealthsimple announced Tuesday that its cryptocurrency exchange has launched. The company explained that Wealthsimple Crypto is “Canada’s first regulated crypto....
The Iranian National Tax Administration (INTA) has put forward a proposal to tax digital asset exchanges operating in the country. The authority calls for the legalization of their activities, fearing restrictions could negatively affect tax collection. Tax Agency Wants to Obtain User Data From Authorized Exchanges Seeing an opportunity to use exchange transactions as a basis for taxation, the INTA has urged regulators in Tehran to legalize crypto trading platforms. In an excerpt from its draft proposal quoted by Iranian media, the tax authority insists: Legalizing crypto exchanges is....