The push for BTC ETFs in South Korea, crypto tax enforcement in Australia, Binance’s return to India and other major news in regulation.
The House voted to pass a bipartisan bill titled H.J. Res 109, overturning the SEC’s Special Accounting Bulletin 121 requiring banks to hold their customers’ crypto assets on their balance sheets, which is not the case for traditional assets such as securities.
However, before the vote, U.S. President Joe Biden’s office issued a statement informing lawmakers and the public that his administrationThe White House said it “strongly opposes” members of the House of Representatives seeking to pass a joint resolution it claims would disrupt the SEC’s efforts “to protect investors in crypto-asset markets and to safeguard the broader financial system.”The Australian Taxation Office seeks personal data and transaction details from up to 1.
For Australian regulators, cryptocurrencies are taxable assets, unlike other foreign currencies. This requires traders to pay a capital gains tax on the profit from selling crypto assets.The Democratic Party of Korea will request that the Financial Services Commission reconsider its interpretation of the legal status of spot Bitcoin (
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