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Bitcoin Daily: S. Korea Eyes Crypto Capital Gains Tax; Crypto Lawyers See Rise In Demand

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South Korean crypto users might soon see 20 percent taxes on their currency, according to Cointelgraph. Proposed amendments to existing bills want to classify cryptocurrencies as goods rather than currencies. equity securities, let those users enter into contracts to price those movements with blockchain-based financial transactions.

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Bitcoin Daily: Bitcoin Briefly Breaches $3,700; NH Eyes Crypto Tax Payments

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Securities and Exchange Commission (SEC) believes one will eventually win approval. Jay Clayton, chairman of the SEC, has said he doesn’t see that happening until worries about market manipulation are addressed. In other news, New Hampshire is considering a law that would allow residents to pay their taxes with cryptocurrency.

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Libra Forces Cryptocurrency Regulators To Reexamine Procedures

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Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. A 2019 study underscored this point, discovering that even though the AML software market is slated to grow 15.25 Cryptocurrency and Blockchain.

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Bitcoin And The Bitter Tax Bite

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By now you know South Korea is a prime mover for cryptocurrencies — be it up or down. And lest you think changes in tax policy sow confusion only in the United States, think again. The market, he said, “is very retail-heavy,” and retail investors who see their portfolios drop quickly by 20 percent are likely to rush to get out.

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Bitcoin Daily: South Korean Crypto Startup Steals $2.7M In Exit Scam; Venezuela Wants World’s Oil Market To Use Petro

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Over the past two years, exit scammers have stolen more than $100 million worth of cryptocurrency. In an effort to protect its residents from crypto scams, the Central Bank of the Bahamas (CBOB) has released a regulatory framework before it integrates cryptocurrency-based assets into its services.

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Bitcoin Daily: Korean Commission Suggests Allowing FIs To Offer Crypto; China’s OneConnect Platform Supports New Blockchain Financing Product

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In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding. TaxBit was founded by software developers, tax attorneys and CPAs to automate and simplify tax compliance for crypto users. ” TaxBit will use the funding to speed up customer growth, and make its products better.

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Crypto Gets A Second Look From Corporate Investors Seeking Yield And Hedge

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The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. With the treasury market for S&P 500 companies valued at $2.3