Crypto.com Weekly Regulatory Update (3/2/2022 – 9/2/2022, Week 5)
Russia plans to recognise digital assets as a form of currency. Thailand scraps its 15% crypto capital gains tax after public backlash.
Key Takeaways
Russia is set to recognise digital assets as a form of currency. Having reached an agreement on how to regulate crypto, the Russian government and central bank are now working on a draft law slated to be released by 18 February, which will define crypto as an ‘analogue of currencies’ rather than as digital financial assets.
Thailand has scrapped its 15% crypto capital gains tax following public backlash. The Thailand Revenue Department had initially intended to tighten the oversight of crypto trading, which later triggered strong opposition from traders in the nation.
Highlights
U.S. Bipartisan bill proposes tax exemption for small crypto transactions
Tennessee lawmaker introduces bill which would allow state to invest in crypto
Russian central bank registers nation’s first digital asset manager
In win for crypto stakers, U.S. IRS offers refund on untraded token rewards
U.S. Treasury targets NFTs for potential high-value art money laundering
U.K. tax agency cracks down on rules around DeFi lending and staking
India confirms 'it's not illegal to buy or sell crypto assets' in India
Australian billionaire sues Facebook over crypto scams with AG's consent
Myanmar’s military government considers launching digital currency: Report
Colombia clamps down on crypto tax evasion as adoption thrives
Nigerians are among the first to take advantage of decentralised loans
OpenSea once again delists CryptoPunks v1 as legal battle heats up
Kazakhstan proposes power price hikes and taxes targeting crypto miners
U.S. lawmakers issue warnings about digital yuan as Winter Olympics kicks off
Republican senator urges U.S. to monitor China's digital yuan push during Olympics