China to Crack Down on Copyright Infringement Through NFTs
Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of…
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Iranian Power Utility Tavanir Vows Severe Measures Against Unlicensed Crypto Miners
Iran’s state-owned power distribution company, Tavanir, has threatened harsher measures to discourage unauthorized crypto mining. These include much higher fines for those minting digital currencies with subsidized electricity and penalties…
Bill Imposing Fines for Illegal Issuance and Exchange of Digital Assets Proposed in Russia
A bill introducing financial penalties for those who illegally issue or exchange digital financial assets has been filed in the Russian parliament. The legislation has been submitted by the sponsor…
Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal…
Moody’s: Cryptocurrencies Unlikely to Help Russia Evade Sanctions
Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the limited size of the crypto market, according to Moody’s. Despite increased use in small transactions, low liquidity…
Sanctioned Russia, Iran May Turn to Crypto Mining to Monetize Energy, IMF Says
Nations like Russia and Iran may utilize cryptocurrency mining to monetize their energy resources and circumvent sanctions, the International Monetary Fund predicts in a report. Repercussions of the war in…
EU Bans High-Value Crypto Services to Russia in New Round of Sanctions
European institutions are closing crypto loopholes for Russia with the latest package of penalties imposed by the EU over Moscow’s aggression against Ukraine. The new sanctions prohibit the provision of…
Sanctions May Not Affect Russia’s Access to Crypto, Reports Claim
As sanctions rain on Russia, following the Kremlin’s decision to invade Ukraine, media reports have suggested that they are unlikely to limit the country’s access to crypto assets. While the…
Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification,…
India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail
The country wishes to see all crypto activities take place on platforms regulated by SEBI.