Cryptocurrency news - Business
Bank of Russia to allow crypto investment via foreign firms: Report
Russia continues sending mixed signals to the cryptocurrency markets as more reports provide details on the country’s upcoming crypto regulation. Shortly after Bank of Russia governor Elvira Nabiullina announced the Bank’s intention to prevent the local financial syst...
Cyprus’ finance ministry recommends ‘capacity building’ for crypto
Cyprus is moving to regulate the cryptocurrency industry, with the country’s finance ministry releasing a national risk assessment on crypto. Published on Monday, the official documentation provides a risk assessment for the Republic of Cyprus regarding money laundering ris...
Bank of Russia Bars Mutual Funds From Investing in Crypto
The Bank of Russia, the country’s chief financial regulator, issued new rules for the country’s mutual funds in a directive published Monday. Such funds cannot invest in digital currencies or in “financial instruments, the value of which depen...
Korean crypto investment firm Hashed reportedly under tax investigation
Crypto investment firm Hashed is currently under investigation by the National Tax Service (NTS) in South Korea according to local media. The 4th Bureau of Investigation from the Seoul Regional Tax Office, which is handling the investigation, is best known for conducting...
Indonesia’s Central Bank Wants to ‘Fight’ Crypto With CBDC
Indonesia is considering developing a central bank digital currency (CBDC) as one way to counter the use of cryptocurrency in the country. Juda Agung, an assistant governor of Bank Indonesia, said in the parliament that a digital rupiah would address the effect crypto...
UK digital services tax targets crypto exchanges
A recent update to Her Majesty’s Revenue and Customs (HMRC) regulations has introduced a digital services tax that will be levied on cryptocurrency exchanges operating in the United Kingdom. Crypto exchanges in the UK will now have to pay a 2% digital services tax according to a...
Bank of England Governor Touts CBDCs Over Stablecoins: Report
The governor of the Bank of England (BoE), Andrew Bailey, said that exploring a central bank digital currency (CBDC) would be better for financial stability than asset-backed stablecoins, which the banking chief said he was “skeptical” about. Speaking at a House of Lords’ Ec...
Elon Musk sells over $1 billion of Tesla stock
Tesla CEO Elon Musk has sold around 934,000 shares for approximately $1.1 billion. The transaction is confirmed by filings with the Securities and Exchange Commission on November 11. It is just the third time he has sold Tesla shares since the firm went public in 2010. Elon...
Brazilian congress proposes crypto as a method of salary payment
A Brazilian lawmaker has proposed legislation to allow cryptocurrency payments as a form of salary for both public and private sector employees. Workers will be allowed to seek payment in cryptocurrency from their employers. The measure requires crypto payments to be given only i...
Is Tesla bringing back crypto payments?
Tesla has hinted that it may soon attempt to reintroduce support for cryptocurrency payments. Tesla noted in its September quarterly report that company "may in the future resume the practice of trading in cryptocurrencies." The corporation also stated its long-term belief i...