'Regulations are in place to help crypto businesses understand operations,' s...
The Bahamas Prime Minister Philip Davis shared his plans to welcome crypto businesses to the region during SALT’s Crypto Bahamas. The Bahamas Prime Minister Philip Davis told Cointelegraph that the region has a regulatory regime in place that will enable crypto businesses to operate within its jurisdiction. During an interview at SALT’s Crypto Bahamas conference, Davis shared that The Bahamas recently published a white paper framework that will allow crypto businesses to “grow and prosper,” while letting companies understand the region’s expectations. He added:“The policy also takes into....
Related News
Alfacash Store is available to buy a cryptocurrency for fiat (and vice versa) in a fully non-custodial and automatic process; including high liquidity, fast operations, and regulatory compliance. Since various regulations require crypto-licensed businesses to verify their users, Alfacash Store takes all adequate measures to prevent fraud and remain fully compliant with applicable AML/KYC regulations. […]
As many may already be aware, July 17, 2014, the New York Department of Financial Services (NYDFS) issued its proposal for the regulation of virtual currencies (Proposed Regulations).¹. At this point, the Proposed Regulations are exactly that - a proposal. There is a 45-day period of public comment, after which the NYDFS may or may not consider the comments it receives. Then, with any revisions that NYDFS deems necessary, the Proposed Regulations will become final and official. Understandably, there has been quite an uproar about the Proposed Regulations among the virtual currency world,....
In a post published on SC Magazine, COO of the anti-crime software firm Wynyard Group, Paul Stokes has explained how the cryptocurrency businesses based in UK can detect and curb money laundering activities. Bitcoin and other cryptocurrencies such as Litecoin have been assumed/ rumored to be used in illegal money transmitting operations as their underlying blockchain technology provides an additional layer of secrecy. Paul explained that even as criminals use newer methods to launder money, there is technology available that can help businesses comply with AML regulations in an efficient....
The Spanish tax authorities have classified cryptocurrency mining operations as taxable economic activities. Regulations concerning cryptocurrencies minting are gradually falling in place. While a lot of countries are yet to implement them, the Spanish tax authorities have labeled Bitcoin and altcoin mining operations as economic activities. This new classification makes cryptocurrency mining taxable. The latest notice, penned by the National Directorate of Taxes of Spain, requires Bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however....
The Isle of Man Financial Supervision Commission (FSC) has clarified the application of existing regulations on bitcoin. The FSC indicates that digital currency businesses will not be subject to a conduct of business or prudential regime by the commission unless they engage in activities regulated under the Financial Services Act of 2008, such as money transmission services. The commission warns that there is no such consumer protection for entrants into the digital currency market. It also notes that it is not the appropriate time to introduce such a regime until the market develops and....