Next week, new regulations are expected to be finalized that would mandate crypto companies, including those located outside the EU or dealing in non-fungible tokens, to register with tax authorities.
Venezuela's government is now concentrating its efforts on establishing the bolivar as the country's preferred currency for purchases. Several experts believe that this is a risky investment in a country that has just emerged from hyperinflation and is still experiencing high inflation. However, the implementation of a 3% tax on foreign currency and cryptocurrency expenses is having some effects in this area.
It is no secret that China is not a fan of anything that is unregulated, this is also one of the reasons why initial coin offerings are currently banned in China. When looking outside of the crypto world we can clearly find examples on how China is currently regulating and protecting themselves.
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