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Banks Warn its Customers of Curbs if They Deal in Crypto

Economic Times (E-Paper Edition) , DISRUPTION: STARTUPS & TECH , 568 words

… banks or even RBI till a formal law is passed banning crypto currencies ,” said Waris. Several industry sources said the informal instructions by …… to banks instructing them on the blanket ban on use of cryptocurrency is unheard of,” said Atul Pandey, Partner, Khaitan & Co. ET reported earlier that RBI was issuing “informal restrictions” on cryptocurrency trading after concerns surfaced around money laundering at Indian crypto exchanges. …… on the side of caution. “It is true that trading in cryptocurrency is not illegal as per existing Indian laws, but individual institutions …… RBI. The regulator has nowhere permitted us to allow such transactions.” Cryptocurrency exchanges and lawyers told ET that the decision of banks to …… banks or even RBI till a formal law is passed banning crypto currencies,” said Waris……. to banks instructing them on the blanket ban on use of cryptocurrency is unheard of,” said Atul Pandey, Partner, Khaitan & Co. ET reported earlier that RBI was issuing “informal restrictions” on cryptocurrency trading after concerns surfaced around money laundering at Indian crypto exchanges. …… Indian banks are clamping down on customers using bank accounts for cryptocurrency transactions. Over the past few months, HDFC Bank and State Bank …

Kuwait Central Bank cautions against crypto-assets

Gulf News (United Arab Emirates) , 685 words

… financial institutions and payment companies from providing any services related to cryptocurrency transactions. This means that banks and online payments channels, must not offer clients any service involving cryptocurrency , such as registration, trading, clearing and settlement. Concerned about the …… calls for investment and dealing in crypto-assets, sometimes referred to as crypto “currencies “, the CBK reiterates that such assets can in no way …… bank digital currency (CBDC). In India, the government has floated The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which will prohibit …… of Kuwait has issued a warning to citizens against dealing in crypto currencies amid growing investor concerns. The CBK warning follows the recent wild gyrations in the valuations of world’s leading crypto currencies such as Bitcoin, Ethereum, Dogecoin. There have been reports of Kuwaiti …… of Kuwait has issued a warning to citizens against dealing in crypto currencies amid growing investor concerns. The CBK warning follows the recent wild gyrations in the valuations of world’s leading crypto currencies such as Bitcoin, Ethereum, Dogecoin. There have been reports of Kuwaiti …

Crypto currency can be misused for tax evasion

The Rogersville Review (Tennessee) , OPINION , 513 words

… The IRS is looking for crypto tax cheats. Crypto currencies are becoming a very popular way to make money. It’s estimated …… that over 21 million adults in the United States currently own cryptocurrency , which is about 14 percent of the population. The IRS …… crypto profits seriously. If you have traded a considerable amount in crypto currency, ignoring a crypto currency tax issue could result in large future penalties or even criminal …… summons and other activity show how seriously the IRS is taking cryptocurrency income reporting compliance. The IRS has even included a question on …… so that the IRS could determine tax compliance by investors. However, crypto currency agencies were not required to report their investor’s activity. If you have been trading a considerable amount of crypto currency , you should consider the consequences of not reporting the income. …… so that the IRS could determine tax compliance by investors.

Fantom Integrates RenVM Cross-Chain Support to Its Blockchain

Business Wire , 445 words

… well and brings a stable, secure trading platform to their technology. CryptoCurrency exchanges exist primarily on their own blockchain networks and they are …… ecosystem can carry out instant exchange between many more major inter-chain crypto currencies . By utilizing the expanding space of Fantom’s blockchain network they …CryptoCurrency exchanges exist primarily on their own blockchain networks and they are …… ecosystem can carry out instant exchange between many more major inter-chain crypto currencies . By utilizing the expanding space of Fantom’s blockchain network they …