Denmark’s Tax Law Council has recommended introducing a bill that could potentially tax unrealized gains and losses on crypto assets held by Danish investors as early as 2026. In its 93-page report on crypto asset taxes, the council suggested that all crypto assets be taxed according to a consistent set of rules, considering three potential...
The Italian government is considering raising the capital gains tax on Bitcoin investments from 26% to 42%, according to Deputy Economy Minister Maurizio Leo. Speaking at a news conference at Palazzo Chigi on Oct. 16, Leo discussed the new budget bill approved by the Council of Ministers, which includes the proposed increase in the withholding...
Institutional interest and economic uncertainty are driving forces behind the accelerated global adoption of cryptocurrencies, according to a report from MatrixPort. Global cryptocurrency adoption is approaching a significant milestone, with 7.51% of the world’s population now using digital currencies. The report projects that this figure will exceed 8% by 2025, indicating that cryptocurrencies are transitioning...
Evan Frederick Light, an Indiana resident, has pleaded guilty to charges of conspiracy to commit wire fraud and money laundering after stealing over $37 million in cryptocurrency. The United States Department of Justice (DOJ) announced on Oct. 1 that Light unlawfully accessed an investment firm’s computer servers to steal customer information, ultimately exploiting the data...
Bitcoin mining company NewRays has filed a lawsuit against Arkansas County Judge Allen Dodson and prosecuting attorney Phil Murphy, accusing them of selectively enforcing noise regulations against its crypto mining operations. The lawsuit, filed on Sept. 26, claims that the enforcement of newly enacted local laws unfairly targets the firm’s business while benefiting a civil...
Global asset manager WisdomTree has unveiled its latest blockchain platform, WisdomTreeConnect, designed to capitalize on the growing demand for tokenized real-world assets (RWAs). The platform, which operates alongside WisdomTree’s retail application, WisdomTree Prime, aims to facilitate easier trading options for both institutional and retail users by offering digital assets across multiple blockchain networks. WisdomTreeConnect will...
The United Kingdom government has introduced a bill aimed at clarifying the legal status of cryptocurrencies, non-fungible tokens (NFTs), and other digital assets. The proposed Property Bill, announced on Sept. 11, seeks to create an additional property category under UK law, recognizing digital assets as “things.” The new legislation would address the evolving nature of...
Singapore authorities are conducting an investigation into the unauthorized sale of Worldcoin accounts, raising concerns about potential data misuse and criminal activities such as money laundering and terrorism financing. The controversial cryptocurrency project, known for its use of iris biometric data, has come under scrutiny from regulators worldwide. On Sept. 9, Deputy Prime Minister Gan...
Elon Musk and Tesla have successfully defeated a lawsuit accusing them of manipulating the price of Dogecoin, leading to $258 billion in alleged damages. On August 29, 2024, U.S. District Court Judge Alvin Hellerstein dismissed the case, asserting that no reasonable investor could rely on Musk’s tweets as sound investment advice. The lawsuit, filed in...
India is advancing its efforts to simplify cross-border payments by developing a plug-and-play system. The initiative aims to create a flexible and scalable framework that can be easily adapted by different countries, thereby making international money transfers as straightforward as domestic transactions. This move is part of a broader strategy centered on Digital Public Infrastructure...
