dac8 directive
EU Council Adopts DAC8 Directive to Enhance Tax Oversight on Crypto Transactions
The Council of the EU has adopted the DAC8 directive to enhance administrative cooperation among national tax authorities concerning crypto-asset transactions and tax rulings for high-net-worth individuals. The directive broadens the scope of assets covered, mandates automatic information exchange, and aligns with global standards set by the OECD and G20 to address challenges posed by the digital economy.
Dutch Central Bank Forces Crypto Firms to Register Within Two Weeks or Face Cease and Desist
The Dutch Central Bank, De Nederlandsche Bank (DNB) has announced that crypto companies must register with the authority by May 18, or to stop operating immediately. DNB has looking to enforce the Dutch anti-money laundering (AML) laws, which was passed by the Dutch Parliament in April to comply with the Fourth Anti-Money Laundering Directive (AMLD4) laws. The Dutch AML laws are in compliance with the Financial Action Task Force-recommended AML directives and standards.
Financial Conduct Authority, on the 2 Key Initiatives to the Era of Open Finance
Following the Part 1 interview of the Financial Conduct Authority, Maha El Dimachki, Head of Payments of the FCA reveals some of her key initiatives in the FCA, including the significance of the second Payment Services Directive (PSD2) among the EU countries and the rationale of the Stronger Customer Authentication. As Co-Chair of Spectrum, the BAME Network Group at the FCA, El Dimachki also provided some advice for women in FinTech!
German Banks Authorized for Crypto Custody and Sales in 2020
In 2020, German banks will be legislatively authorized to sell and provide custody of cryptocurrencies as reported by German newspaper Handelsblatt.
Central Bank of Nigeria Bans Cryptocurrency Transactions, Says Crypto Breeds Illegal Activities
The Central Bank of Nigeria (CBN) has once again doubled down on its efforts to ban cryptocurrency transactions stating they are a breeding ground for illegal activities.
OCC Head Brian Brooks Testifies Before Senate On Cryptocurrency and Stablecoins
The OCC Boss, Brian Brooks has testified before the US Senate Banking Committee about the growing use of cryptocurrencies and stablecoins in the country
UK’s Financial Regulator Seeks to Hire Crypto Specialist to Spearhead Digital Asset Regulations
UK’s financial regulator has posted a job listing for a potential candidate with strong crypto knowledge. The recruitment could be an indication that the agency is set to provide higher degree of regulatory scrutiny of digital assets and possible abuses.
Women in Payments CEO Answers: Could Facebook Libra Be a Huge Threat to Visa and Paypal?
Kristy Duncan, the CEO of Women in Payments the company in 2012, looking to add value in a different way, to connect, inspire, and champion women who are working in the payments industry globally. In our interview with Duncan, she shared with us the changing payment landscape with the emerging technologies in the sector.
Blockchain Analytics Firm Elliptic Extends Monitoring Solutions to Cover Binance Chain and BNB
Blockchain analytics firm Elliptic recently extended its crypto risk monitoring solutions today by adding the Binance Chain and Binance Coin (BNB).
Indian Crypto Exchanges Seek Clarity on Legal Status and Taxability from the Reserve Bank of India
Crypto exchanges and companies in India are still seeking regulatory clarity and tax status from the Reserve Bank of India following a Supreme Court ruling in favor of the crypto industry earlier this year. India’s Supreme Court reversed the ban placed by the central bank on financial institutions offering crypto-related banking services. It is two months after lifting the ban, crypto exchanges and firms are now seeking clarification regarding the nature of their operations.
Reserve Bank of India Says Banks Are Authorized to Provide Accounts to Cryptocurrency Traders
The Reserve Bank of India recently responded to an information query, saying that Indian banks are not prohibited from dealing with crypto businesses.
LocalBitcoins Deploys Elliptic’s Blockchain-Powered Tracking Tools for Enhanced Surveillance
Leading peer to peer (P2P) Bitcoin trading platform LocalBitcoins has partnered with Elliptic, a global provider of crypto asset risk management solutions, to tame the headache of its illegal usage through blockchain-enabled monitoring tools.
“New FATF regulations will bite next year” NexChange Interview Series with Adam Vaziri, CEO of Blockpass, Part 1
Sign up for Block O2O event “STO: Blockchain Powered Next-level Fintech” on Nov 5th 2019 and get to listen to Adam and Blockpass team’s vision of STO operational hurdles and solution – in person!