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Luxembourg’s New Bill Affords Blockchain Transactions the Same Protections as Traditional Ones

Luxembourg lawmakers passed a new blockchain bill into law, giving transactions completed via distributed ledger the same legal status as those done via traditional means. Luxembourg is one of the more forward-thinking in terms of blockchain adoption. Now, the...

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Philippines Introduces Cryptocurrency Regulatory Framework Aimed at Investor Protection

The Philippines has become the latest nation to issue a cryptocurrency regulatory framework through the Cagayan Economic Zone Authority (CEZA), with the Asia Blockchain and Crypto Association (ABACA) becoming the self-regulatory organization to enforce the new regulations. The principal...

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Analysis of UAE and Saudi Arabia’s Government Cross-Border Payments Cryptocurrency

The United Arab Emirates and its neighbor Saudi Arabia launched a government-backed cryptocurrency to facilitate cross-border payments. The launch was part of a seven-point co-operation plan that was unveiled on Jan. 20th. Apart from cryptocurrency development, the rest of the...

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Washington State Introduces Bill Encouraging Development of Blockchain and DLT

The Washington State Senate introduced a bill that would—through amending existing legislation—encourage the development of distributed ledger and blockchain technology. The bill appears to codify blockchain-enabled digital signatures and licenses and provide the legal recognition necessary to enforce these...

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Understanding the IRS and Cryptocurrency: Penalties, Tax Evasion, and Compliance

Delinquent federal and state tax filings or unreported 2017 or prior tax years’ transactions may force taxpayers dealing in crypto to liquidate significant positions in cryptocurrencies at lower values to pay outstanding tax liabilities to the IRS, including interest...

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South African Reserve Bank: Crypto Asset Friendly, but Bitcoin Is Not Money

South Africa’s reserve bank released a consultation paper that includes favorable recommendations and guidelines for the crypto asset industry in the country. However, the agency is not looking to treat Bitcoin and other digital currencies as ‘currency.’ On Jan. 16th,...

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