Crypto Regulation News

Russia will reportedly require clients to provide a taxpayer identification number before opening accounts with crypto depositories. The measure is part of the country’s new regulated crypto framework and is aimed at strengthening AML controls, customer identification, and transaction oversight. The rule adds another layer of compliance as Russia formalizes exchanges, depositories, and digital currency account providers.

The Digital Asset Market Clarity Act draft seeks to create a formal U.S. framework for digital assets by defining SEC and CFTC roles across securities, digital commodities, exchanges, brokers, custodians, and DeFi-related activity. The bill also includes customer asset protections in bankruptcy, law enforcement grants, software developer safeguards, and ethics rules for certain digital asset transactions.

Germany’s long-standing tax-free rule for crypto gains may face a major deadline under a draft Finance Ministry proposal. Reports say Bitcoin and other crypto assets bought by December 31, 2026 would keep the current one-year holding exemption, while later purchases could fall under a new 25% flat tax. The proposal is not yet final, but it could reshape Germany’s appeal for long-term crypto investors.

Source Link

Gemini has secured full MPI approval in Singapore after receiving in-principle approval from MAS nearly two years ago. The licence allows Gemini to operate under Singapore’s Payment Services Act for digital payment token services and cross-border money transfers. The approval adds to Singapore’s role as a regulated crypto hub and gives Gemini a stronger base for serving users across the region.

India’s Financial Intelligence Unit has reportedly issued notices to 15 offshore crypto platforms, including WEEX, BloFin, and WOO X, for allegedly operating without proper registration. The move extends India’s compliance push against foreign exchanges serving local users without meeting anti-money-laundering requirements. The action could raise pressure on platforms to register or risk access restrictions.

Source Link

Italy has proposed making digital euro payments under €10 fee-free, according to Euronews. The measure is aimed at helping small businesses avoid extra costs as Europe designs the payment model for a future central bank digital currency. The proposal comes as EU lawmakers debate how fees should be shared between payment firms, banks, merchants, and users.

Source Link

South Korea’s tax authority said crypto balances held through bankrupt overseas exchanges must still be treated as reportable foreign financial accounts. The interpretation came after a Korean resident asked whether assets locked in bankruptcy proceedings, with trading and withdrawals blocked, remained subject to reporting. The NTS said the obligation still applies for accounts opened with foreign virtual asset operators.

Source Link

South Korea’s FIU is requiring registered virtual asset service providers to submit proof of actual operations across 44 review items. The checklist covers organization, personnel, IT facilities, internal controls, AML, user protection, and legal compliance systems. Existing VASPs must complete supplementary reporting by November 20, with regulators expected to verify not only written policies but whether systems are functioning in practice.

Source Link

A National Assembly petition seeking a two-year delay to South Korea’s virtual asset taxation has surpassed 32,000 signatures. The petition needs 50,000 signatures by September 20 to be referred to the relevant standing committee, meaning about 18,000 more are required. The petition argues that implementing the tax could reduce exchange revenue and weaken related corporate tax income.

Source Link

South Korea’s tax authority said overseas crypto accounts must be reported even when the related exchange has entered bankruptcy and assets are being handled through creditor distribution. Under the international tax adjustment law, residents and domestic corporations must report overseas financial accounts if balances exceed 500 million won on any day in the final month of the year. Digital assets became reportable from 2023.

Source Link