NY Bitlicense definitive framework [pt.4]

  AML/KYC Requirements Licensees must implement an anti-money laundering program. The AML program is to be based upon an initial risk assessment performed by the Licensee. Risk assessments must be performed on an annual basis, or...
video

USA & Australia – Video Update

https://youtu.be/UGQLpbhyWd8

Are you trading a digital currency derivative? UK

Financial Markets Act 2000 (FSMA) is the main legislation regulating the financial services industry. This may affect you if you are trading digital currency derivatives in the UK. Core prohibition under s.19 FSMA: "(1)No person may...

Regulatory Update – VAT on BTC in Switzerland

  In this week's update we discuss: - VAT on BTC in Switzerland For more information and in-depth analysis on these topics, please visit the Merkle Tree Blog at http://bitlegal.io/

Tax treatment of speculative digital currency transactions – UK

HMRC Guidance Note March 2014 mentions that the application of income, corporation or Capital Gains to a transaction will depend on the facts. See as follows: "Whether any profit or gain is chargeable or any...

ESMA Call for information

  The European Securities and Markets Authority (ESMA) is currently accepting responses for information regarding several aspects of decentralised digital currencies until the 21st July. ESMA is looking into aspects such as : Investment products (e.g....

FinCEN states that issuing negotiable certificates of ownership of precious metals are MSBs and...

In a letter published on the 14th August 2015, FinCEN stated that if a company issues digital or physical certificates that relate to the ownership of precious metals, then they would be considered a money...

Update on Russia – new law on Bitcoin forthcoming

  In January 2015, Russia’s Federal Supervision Agency for Information Technologies and Communications (Roskomnadzor) blocked 7 websites on the basis that it they contained Bitcoin information. At the time, Roskomnadzor used its powers under the 2012...

Regulatory Update – Sweden & BTC mining, EuroBA, North Carolina & BTC

In this week's update we discuss: - Sweden and the new guidelines on income tax and BTC mining - See article here - EuroBA's report highlighting opportunities using blockchain technology - North Carolina's new amendments on...

Australian Senate Committee Report on Digital Currencies

The Australian Senate Economics Reference Committee released a report discussing various aspects of digital currencies (DC). The report gave a broad overview of digital currencies, opportunities and risks, tax treatment under Australian law, regulatory...