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.
Foreign Policy Bitcoin
Foreign Policy Bitcoin latest news, images, analysis about Sep 17, 2021 · September 17, 2021, 2:39 PM. On June 5, El Salvador President Nayib Bukele declared that bitcoin, the first cryptocurrency, would become legal tender in El Salvador. A few …
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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.
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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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FAQs for Foreign Policy Bitcoin
Should bitcoin be a government-endorsed currency?
Using bitcoin as a government-endorsed currency had a number of obvious issues: Cryptocurrency has a stupendous money-laundering problem, the price of bitcoin is incredibly volatile, and cryptocurrencies remain difficult and unwieldy to use. Building a payment system that users trust takes time.
Is El Salvador about to adopt bitcoin as a currency?
In a video played at the Bitcoin Miami conference in Florida on June 5, Bukele announced a major economic policy change: El Salvador would be adopting bitcoin as an official currency, running in parallel with the U.S. dollar, the country's currency since 2001.
Does bitcoin belong to the Internet?
It belongs to the internet. By Parag Khanna, the founder and managing partner of FutureMap, and Balaji S. Srinivasan, an angel investor and entrepreneur. An image of Bitcoin and U.S. currency is displayed on a screen during the Interpol Global Congress in Singapore on July 4, 2017. Roslan Rahman/AFP via Getty Images
What will happen to the Bitcoin Trust?
The very first thing that will happen is that the trust will be drained by holders of tainted bitcoins getting rid of them as fast as possible; the trust will become a gateway to launder $150 million of dirty bitcoins.
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