Law Token (LAW) News

While law enforcement agencies have been looking for Terraform co-founder Do Kwon to arrest him after Interpol's red notice, his location remains unknown. In response, the Ministry of Foreign Affairs of South Korea released a public notice on October 5 saying it would invalidate Kwon's passport if...

A court in the United Kingdom approved the use of blockchain during a legal action for the first time. The ruling was related to a lawsuit started by Fabrizio D’Aloia, founder of a virtual gambling business. According to a Time article, D’Aloia is suing the digital assets exchange Binance and...

Despite all the calls from the industry, India passed crypto tax laws, according to which Indians will pay a 30% tax on profits from cryptocurrency transactions starting from April 1. Moreover, apart from already high tax, traders will have to pay 1% tax deducted at source (TDS), while the law...

According to the judge's decision, Ripple unveiled legal advice documents that it had requested by law firm Perkins Coie LLP. Ripple former chief executive Chris Larsen applied to the law firm, which delivered two memos in February and October 2012. In February, Perkins Coie recommended Ripple...

Today, a journalist at Beijing political magazine Caijing, Yan Qinwen Zhang Yingxin reported that China is considering ways to convict and sentence crypto activities by law. While currently there is no legal framework providing this option, the country plans to establish a judiciary system for...

Ukraine became the latest country to legalize and regulate cryptocurrencies by providing official clarity of the industry. 276 lawmakers voted in favor of the bill and 6 against it. The bill was presented in 2020. After getting the approval of the parliament, it needs to be signed by President...

The regulatory authority of Iran, the Iranian National Tax Administration proposes to set a legislative structure for the taxing crypto trading networks. The announcement was made 2 months after the country's president Hassan Rouhani talked about a legal system for buying and selling crypto...

A $1 trillion infrastructure bill is currently being discussed in the US Senate. The plan is meant to increase the US funds and make improvements in the country. Crypto, particularly its tax-reporting and transactions are a part of the bill. The provision aims to raise $28 B from the sector. Senate...

Russian officials announced that the Regional Court of Arkhangelsk decided on canceling a former order to blacklist the cryptocurrency exchange platform Binance in the country. The hearing was on January 20. The proceedings began in September 2020, when Binance received a notice from Russian data...

President of Russia, Vladimir Putin signed the law "On digital financial assets (DFA)", which regulates the circulation of crypto coins in the country. It will enter into force on January 1, 2021. The law defines a digital asset (tokens and stablecoins) as a right to a monetary claim or...

The deputies of the Russian Duma approved in the third reading the law “On digital financial assets”. It will enter into force in 2021. The adopted law will have a big "influence" on the Russian crypto industry. One of the main points of the adopted law for the cryptocurrency...

The capital gains tax on operations with cryptocurrencies in South Korea can be up to 20%. This was the opinion of representatives of the private sector during the discussion on legislative initiatives of the country's authorities, writes Cointelegraph with reference to local media. Proposed...

In Kyrgyzstan, the legal status of cryptocurrencies is not defined and there is no regulation. This was stated by the head of the department of the National Bank Sanzhar Abdygaziev, writes the local publication Tazabek. The official noted that operations with crypto coins as a form of public...

On June 11, the Verkhovna Rada of Ukraine registered the draft law "On Virtual Assets", which introduces cryptocurrencies in a regulated plane and obliges exchanges to register with the Ministry of Digital Transformation. The final version of the document has undergone changes. In...

The Ministry of Economic Development of Russia sent a letter to the State Duma criticizing a new package of bills regulating digital currencies and assets. According to Kommersant, the ministry believes that a complete ban on the issuance and circulation of cryptocurrencies, as well as the...

The Reserve Bank of India plans to file a motion to review the Supreme Court's decision to regulate the first crypto coin and other cryptocurrencies. It is reported by the Economic Times. According to the publication, the regulator fears that the decree could lay the foundation for crypto trading...

The UK Financial Conduct Authority has warned investors that the BitMEX cryptocurrency derivatives exchange has not received permission to operate in the country and could potentially conduct fraudulent activities. The regulator recalled that almost all companies and individuals offering financial...

The Tax Administration of New Zealand may refuse to apply tax to cryptocurrencies on goods and services. The document indicates the rapid development of the crypto sector. At the same time, digital assets cannot be unambiguously called an investment product, which makes it difficult to apply the...