Bitcoin News and Finance: What You Need to Know

The Nigerian securities regulator has announced new rules that govern the issuing of digital assets. The new rules also include registration requirements for platforms that offer digital assets. Initial Assessment Filing The Nigerian Securities and Exchange Commission (SEC) has announced new rules that govern the issuing of digital assets as securities. The regulations also include rules on the registration requirements for digital assets offering platforms (DAOPs). Virtual asset service providers (VASPs) and digital assets exchanges are covered in the new set of rules that were recently published by the commission. According to the new regulations , individuals or entities seeking to raise funds via a coin offering or a private sale of tokens must first submit an initial “assessment form and the draft white paper.” In the draft white paper, the commission says an entity seeking permission to operate must furnish it with “complete and current information regarding the initial digit

Global market regulators are likely to launch a joint body within the next year to better coordinate cryptocurrency regulations, said a top executive of the International Organization of Securities Commissions (IOSCO). A Global Body to Coordinate Crypto Rules Top executives at the International Organization of Securities Commissions (IOSCO) discussed cryptocurrency regulation this week. Members of the global organization regulate more than 95% of the world’s securities markets in more than 130 jurisdictions. Emphasizing the need for a global group to align crypto rules, IOSCO Chair Ashley Alder said global market regulators are likely to launch a joint body within the next year to better coordinate cryptocurrency regulations, Reuters reported. Noting that similar setups are already in place for climate finance, including one set up by the G20 countries, Alder described: There isn’t anything like that for crypto at the moment … But I do think now it’s seen as one of the three C’s

A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner on Stablecoin Regulation The regulation of stablecoins has been a hot topic this week following the Terra fiasco which saw UST losing its U.S. dollar peg and LUNA plunging to near zero. A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about cryptocurrency regulation Thursday during an event hosted by the London-based Official Monetary and Financial Institutions Forum policy think tank. Peirce, who is known in the crypto community as “crypto mom,” indicated that tighter regulations on cryptocurrency, particularly stablecoins, could be coming soon. She was quoted as saying: One place we might see some movement is around stablecoins … That’s an area that has obviously this we

Officials from the U.S., U.K., Canada, Australia, and the Netherlands have shared data and identified more than 50 crypto-related criminal leads, including one case that could be a $1 billion Ponzi scheme. Officials Share Data on Global Crypto Crime The heads of tax enforcement from the Joint Chiefs of Global Tax Enforcement (J5) countries met in London this week to share intelligence and data to identify sources of illegal cross-border crypto activity, Bloomberg reported Friday. The J5 was formed in response to the call to action from the Organisation for Economic Co-operation and Development (OECD) for countries to do more to tackle the enablers of tax crime. It’s comprised of the Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Fiscale Inlichtingen- en Opsporingsdienst (FIOD), HM Revenue & Customs (HMRC), and the Internal Revenue Service Criminal Investigation (IRS-CI). During the meeting, the officials identified more than 50 crypto-related criminal l

The Argentinian Senate has approved a bill that would allow the government to tax non-declared assets held in foreign countries by citizens of the country. This includes stocks, properties, bonds, and even cryptocurrencies. The purpose of the legistlation would be to collect more funds to pay the $45 billion debt that Argentina has with the International Monetary Fund (IMF). Asset Tax Bill Approved by the Argentinian Senate The Argentinian Senate has approved a new bill that would allow the government to tax assets held by citizens in foreign countries. The approved text determines that the government will tax all kinds of assets that have not been declared to the tax authorities before, including real estate, stocks, cryptocurrency, and any assets with economic value. The policy establishes these funds collected will be directly managed by the Economy Ministry. Depending on the time period and the goods owned, if approved, Argentinian citizens will have to pay up to 50% on these