Coincenter – creating a flexible regulatory framework for digital currencies

Coincenter the now de facto policy body of the US have issued a framework for the regulation of digital currency. This covers matters such as providing exemptions for startups, recognising digital currency as a...

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...

Canada’s Revenue Agency (CRA) states that Bitcoin is ‘Specified foreign property’

The Canadian Revenue Agency (CRA) has given guidance on how Bitcoin and other digital currencies are viewed for tax purposes. The specific topics in question were whether: a digital currency (e.g. Bitcoins); and a foreign partnership...

ECJ General Advocate states that Bitcoin should be VAT exempt

Today, General Advocate Juliane Kokott stated in her Opinion to the ECJ regarding the Hedqvist v Skatteverket case that Bitcoin and digital currencies should not be subject to VAT. The provision of an exchange service...

itBit receives trust charter in New York.

This is the first digital currency business to receive a Trust Charter. NYSDFS invited applicants to apply for a Trust Charter in March last year. The only difference between a Trust Charter and a fully fledged...

Compliance with Bank Secrecy Act – MSB – US

FinCEN has made clear, in its latest fine against Ripple Labs, that even if an ‘exchange’ or ‘administrator’ fails to register at a Federal level for their activities, that they are still subject to...
video

USA & Australia – Video Update

https://youtu.be/UGQLpbhyWd8

Regulatory Update – Bitlicence, IGCI, Liberland

https://www.youtube.com/watch?v=pj04mIn6Xog

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...

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...