Regulation

Uzbekistani regulators have okayed a firm with Korean ties to operate a cryptocurrency exchange in the nation. Uznex, which the Kobea Group runs from Korea, becomes the first exchange to be awarded that license. Kobea group announced Uznex's formation on the sidelines of a global blockchain conference in Tashkent on January 20. The Uzbeki authorities are drafting legislation to make income from cryptos tax-exempt. Additionally, they are working towards the institution of a national mining pool for all its private…

The Indian government is incorporating blockchain technology solutions into government schools in the country. Incorporating the technology will ensure the schools offer top education quality.  The IT minister, Ravi Shankar Prasad, asked the NIC team to find out possible ways of ensuring they merge blockchain solutions and technology to improve primary school quality. Foremost, people will get an education on the Crypto word basics, including BTC, ETH, and the role of technology in digital currency. The health minister's remarks considered…

South Korea finance officials plan to implement a twenty percent tax on income from cryptocurrencies. Currently, definite laws to tax crypto profits do not exist in the country. A report by Korea Herald stated that the country’s ministry of economy and finance had authorized the office of income tax to look into a taxation plan, which made people speculate that the authorities could classify gains from crypto trading as other income. As per the government official, the finance ministry is…

The Canadian government recently issued new guidance towards the cryptocurrency trading platforms’ determination to come under derivatives law. On January 16 2020, the Canadian Securities Administration (CSA) released a document explaining the new provisions. The document has the title “Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets”. In general, the agency differentiates between trading platforms that deliver cryptocurrency assets to users immediately, and the ones that hold the transaction of cryptocurrency assets until…

The Uzbekistan government has revealed its plans in the upcoming regulation plans on digital currency trading and the blockchain technologies implementation that should be done this year. The announcement came through a press conference conducted on Monday by the National Agency of Project Management (NAPM). Based on the information provided, it is believed that the mining pool will aid both foreign and domestic miners through functioning capabilities as consolidation.  National Agency of Project Management's Claims The NAPM continues to put more effort into achieving an effective…

A study revealed that 74.1% of Bitcoin mining gets powered by renewables; therefore, the activity does not use a high carbon footprint. Kazakhstan is prosperous in reducing the energy it consumes every year by 25 to 45%, within the previous five years, through a pilot aimed at heating residential buildings. On the other hand, Bitfury, a blockchain development company, is ready to partner with UNDP towards the conservation and increment of the forestland in Kazakhstan. On the 14th of January,…

Recently, ChainSecurity became a partner of PwC’s branch in Switzerland. The objective of the partnership is to enhance the services offered by PwC. As per PwC’s spokesman, there was no acquisition, but ChainSecurity teams joined the firm. The teams include the core delivery and development teams. A press release published on the 5th of January 2020 pointed out that PwC hopes to become the leading company in smart contracts auditing through the ChainSecurity team that joined the company. ChainSecurity Responsibilities…

A Brazilian bank, known as Banco Bradescohas, recently rejected an agreement hindering the closure of crypto exchanges accounts. Banco Bradescohas’s recent act could mean it is completely cutting ties with the cryptocurrency exchanges. The fact that Banco Bradescohas is a renowned bank in Brazil may negatively affect the country’s cryptocurrency domain after the bank shunned the agreement. In December 2019, the Administrative Council of Economic Defense of Brazil clarified that withdrawal of bank services offered to crypto exchanges is not…

The Philippines' Cagayan Economic Zone Authority (CEZA) confirmed its primary objective is the establishment of an inside airport located in the Crypto Valley of Asia. Following this insight, the initial cost that will be incurred in the creation process would be an approximated value that lies between $60 million to about $80 million, based on the claims by the Chief Executive Officer of the organization. The establishment's major significance and realization follow the genuine in-depth understanding of the Crypto Valley…