Iran makes first import order using cryptocurrency, Tasnim reports
DUBAI, Aug 9 (Reuters) - Iran made its first official import order using cryptocurrency this week, the semi-official Tasnim agency reported on Tuesday, a move that could enable the Islamic Republic to circumvent U.S. sanctions that have crippled the economy.
Nayib Bukele Attributes Tourism Recovery in El Salvador to Bitcoin, Surf, and Crime Reduction
Nayib Bukele, the president of El Salvador, declared that the speedy recovery of tourism in the country had to do with three elements, including surfing, bitcoin, and overall crime reduction. El Salvador was one of the 15 countries that managed to take their tourism incomes to pre-pandemic numbers according to data from the World Tourism Organization.
Philippines Financial Watchdog warns public against investing with Binance
The Philippines SEC has cautioned the public not to invest with Binance, stating it has no license to offer investment services in the country.
Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto Rules
The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading.
South Korea postpones 20% tax on crypto gains to 2025
The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first.
State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market
Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.”
Canadian Regulator OSC Takes Action Against Crypto Trading Platforms Kucoin and Bybit
The Ontario Securities Commission (OSC) has taken action against two cryptocurrency trading platforms. Kucoin is permanently banned from participating in Ontario’s capital markets. Bybit has promised to take steps to comply with regulations and register with the OSC.
Israel, Hong Kong enter partnership to test new CBDC against cyber risks
The exposure-free retail CBDC the Bank of Israel and the Hong Kong Monetary Authority plan to test is assumed to carry less financial risk for consumers, Bloomberg News reported.
New South Korean Regulatory Chief Promises More ‘Fairness’ for Crypto Investors
The South Korean government and financial regulators appear keen to ensure that May’s Terra ecosystem crash – an event they have dubbed the “terra/LUNA incident” – will become a watershed moment for the crypto sector, with a slew of new regulations incoming. The new head of a leading regulatory body led those vowing to implement changes, calling for the creation of a system that provides investors with more “fairness.”
SEC Made a ‘Big Mistake’ That Will Come Back To Haunt Them in XRP Lawsuit, Says Legal Expert Jeremy Hogan
The U.S. Securities and Exchange Commission (SEC) is erring in their XRP lawsuit against Ripple, according to crypto legal expert Jeremy Hogan.
Major South Korean crypto exchanges delist Litecoin
Crypto regulations in South Korea require exchanges to enforce strict KYC and AML guidelines and major crypto exchanges have delisted privacy coins in the past as well.
SEC Probes Binance — BNB Could Be Unregistered Security: Report
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance’s BNB token, which could be an unregistered security. If the cryptocurrency is found to be a security, it could put Binance in a similar position to Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP token.
Dubai's Retail Giant Majid Al Futtaim Accepts Crypto at 29 Shopping Malls and 13 Hotels in Partnership With Binance
Leading shopping mall operator Majid Al Futtaim has partnered with Binance to accept cryptocurrencies at its malls and other properties. “Majid Al Futtaim is one of the most prestigious businesses in the Middle East and has millions of customers every year,” said the CEO of Binance.
Thailand Exempts Crypto Transfers From VAT Until End of 2023
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand.
CFTC Chairman Confirms Bitcoin, Ether Are Commodities
The chairman of the U.S. Commodity Futures Trading Commission (CFTC) says he is certain bitcoin and ether are commodities. He outlined how his agency is working with the U.S. Securities and Exchange Commission (SEC) to regulate the crypto sector, noting that “there are no customer protections right now in the crypto market.”
Commonwealth Bank puts crypto trading trial on ice as regulators dither
Commonwealth Bank of Australia CEO Matt Comyn insists his bank will move forward with the second pilot of crypto services on its app once regulatory uncertainty is cleared up.
French central banker says the G7 plans to discuss crypto regulations
Francois Villeroy de Galhau, the Head of the French Central Bank, claims the upcoming G7 meeting in Germany will see member states discuss crypto regulation, among other issues.
Coinbase Warns Some Russian Users Their Accounts May Be Blocked, Report Reveals
Leading U.S. crypto exchange Coinbase has reportedly notified certain Russian customers that their accounts may be blocked at the end of this month. According to Russian media, the trading platform has offered them to withdraw their funds unless they prove they are not under sanctions.
South Korea Prepares To Overturn ICO Ban
Newly elected South Korean President Yoon Suk-yeol has announced the initial approval of ICO’s as part of the new government’s aim to bring cryptocurrency out of the dark.
Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider
Cryptocurrency exchange Binance has received regulatory approval from the French financial regulator to operate as a registered digital asset service provider. “Binance will significantly scale our operations in France to make crypto and our services more accessible to all,” the exchange said.