Tag: legislation

The proposed regulatory changes seek to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. The tax treatment of lending and borrowing on decentralized finance (DeFi) protocols could soon be changed in the United Kingdom as the taxation arm of the Treasury is seeking input on a possible new regime. An…

Several years ago, Belarus made noise worldwide as the first country to introduce all the basic concepts related to blockchain and cryptocurrencies into legislation. It also gave nearly free rein to the cryptocurrency business. However, in time, all the positive initiatives were completely destroyed by bureaucracy. In recent news: Belarusian Railway (BCh) has issued $…

A cryptocurrency amendment was introduced to the US Senate, which would greatly complicate any operations with cryptocurrencies, hitting decentralized services the hardest. And it is backed by the Joe Biden administration. There is a lot of fuss around the second cryptocurrency amendment to Joe Biden’s $ 1 trillion infrastructure bill HR 3684. On August 6,…

The Financial Crimes Enforcement Network (FinCEN) has hired Michele Korver, previously of the Digital Currency Council in the U.S. Department of Justice, to serve as the agency’s first chief digital currency adviser (DCA). Korver, who has been involved in crypto-related Anti-Money Laundering (AML) operations since 2013, will advise FinCEN acting director Michael Mosier regarding cryptocurrency’s…