Regulation
European Asset Manager Encourages Regulators To Outlaw Crypto

The head of Allianz Global Investors (GI) Andreas Utermann is in the latest crypto news, mainly because of his recent call for a Bitcoin/crypto ban that occurred during a conference held in London.
The CEO of Allianz GI directed his thoughts towards Andrew Bailey who is the head of Britain’s Financial Conduct Authority, stating:
“You should outlaw it [crypto]. I am personally surprised that regulators haven’t stepped in harder.”
Recently, the G20, which is a global forum that hosts government officials from 20 of the largest world economies, came to a consensus to regulate the crypto space primarily and ensure that digital assets are not used to fund criminal activities or launder money. As a declaration released by the G20 stated:
“We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF [Financial Action Task Force] standards and we will consider other responses as needed.”
With this initiative to regulate crypto, many governments could refrain from imposing a blanket ban on this industry. Doing so could leave governments in the dark while individuals and institutions continue to use consensus currencies for different use cases.
So, the need for building a sustainable crypto ecosystem is bigger than ever. Some smaller economies such as Malta, Singapore and Switzerland have recently brought multi-billion dollar businesses and fast-growing startups by doing so.
Still, the risk of money laundering and crime financing is still big – mainly seen through two banks (Danske and Deutsche Bank) which suffered two big scandals that surpass the entire market cap of cryptocurrencies.
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Regulation
Korean Government Will Impose Crypto Capital Gains Tax In 2020

“Related discussions have been taking place. The revised bill will be drawn up by the first half of next year.”The Korean national assembly also worked on a crypto taxation bill and the bill was aiming to increase the transparency on all parts of the process of trading digital coins. However, Korea will not try to tax capital gains from the sale of digital assets. If the new legislation follows the usual approach to taxing capital gains, the people of Korea will have to supply a detailed history of crypto trading deals. The virtual currency exchange will also have to keep separate records for each user as well as detailed personal information.Most of the crypto exchanges already have a KYC procedure for the number of coins traded. The Korean trades also will link the accounts to bank accounts and trade directly in Korean won and also the decentralized exchanges or obscure markets and it is impossible to trade anonymously this year. The taxing of Bitcoin and other digital coins will counter to the crypto spirit which is seen as existing beyond the national-backed fiat. However, the sale of virtual coin generates the fiat gains and is deemed taxable. But the idea of collecting a database of transactions and ownership which looks likes another attempt to try and control Bitcoin.The Korean Government will boost the interest in crypto trading after it got low in 2019 and a part of the slide comes from the lowered activity on the markets. Bitcoin however still remains attractive and remains one of the chief sources of gains for this year. Korea joined the long list of countries that have turned to track crypto transactions.
Regulation
SEC Asks The English High Court To Force Telegram’s Advisor To Testify

Regulation
Ukraine Passed Crypto Law On Money Laundering Per FATF Guidelines

Regulation
Central Banks May Be “Bluffing” The Issue Of Their Coins: Report

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