Fed Issues Cease and Desist to Texas Bank Over Crypto Firm Services
The US Federal Reserve claimed it discovered “significant deficiencies” in the bank’s dealings with crypto clients and risk management systems. The United States Federal Reserve has issued a cease and desist order to United Texas Bank, known for its crypto-friendly approach, due to “significant deficiencies” in its risk management and dealings with cryptocurrency clients. In […]
Qatar Reveals Regulatory Framework for Digital Assets
Qatar’s central bank governor believes the framework will benefit the country’s financial sector. The Qatar Financial Centre (QFC), a business hub based in Doha, Qatar, has introduced a detailed set of regulations for managing and establishing digital assets. The Qatar Financial Centre Authority (QFCA) and the Qatar Financial Centre Regulatory Authority (QFCRA), the QFC’s regulatory […]
Binance Exec’s Trial Moved Up Despite Lack of Legal Counsel
The Nigerian government accuses Binance of being responsible for the fall of the Naira currency amid multiple alleged money laundering charges. The legal trial for Tigran Gambaryan, a Binance executive and former United States federal agent, has been moved to September 2. The crypto industry is anxiously awaiting the outcome. Gambaryan’s next court hearing is set […]
Japan’s Startup Tax Reforms Target Web3 Growth
Japanese minister Takeru Saito seeks to establish an environment that will attract businesses and developers worldwide. Japan aims to enhance its local Web3 industry by introducing tax reforms to support startup growth. On August 28, Japan’s Minister of Economy, Trade and Industry, Takeru Saito, announced at a conference his plans to facilitate the creation of more […]
New Zealand Adopts OECD Crypto Reporting Framework in New Tax Bill
Crypto service providers who fail to take “reasonable care” to comply with the requirements might face fines ranging from 20,000 to 100,000 New Zealand dollars ($12,000 to $62,000). The Minister of Revenue in New Zealand has introduced a new proposal to adopt the crypto-reporting framework developed by the Organisation for Economic Co-operation and Development (OECD). On […]