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Minnesota Republican Congressman Tom Emmer this week announced that he was reintroducing the Blockchain Regulatory Certainty Act, according to his congressional website. The bill was previously introduced in the House of Representatives last September and is co-sponsored by Democrat Congressman Darren Soto.
South African officials this week announced the release of a consultation paper on crypto assets, in a joint statement from the South African Revenue Service (SARS), the Financial Intelligence Centre (FIC), the South African Reserve Bank (SARB) the National Treasury (NT) and the Financial Sector Conduct Authority (FSCA).
Bitwage revealed this week that its services will now enable companies in the United States to use cryptocurrency to pay their W2 employees and related payroll tax obligations. The service is the result of a partnership between Bitwage and Texas-based payroll and human resources firm Simply Efficient HR, according to a Coinstituency article posted on the Bitwage blog.
Denmark’s Tax Council recently authorized the country’s Tax Authority to acquire user data and transaction details from three cryptocurrency trading exchanges, according to a January 14 announcement on the agency’s official website.
After being down for unscheduled maintenance for more than 24 hours, New Zealand exchange Cryptopia has confirmed via twitter that the exchange suffered ‘significant losses’ in a Jan. 14 (local time) security breach.
The Malaysian government confirmed on Monday that its new cryptocurrency law will go into effect on January 15, according to reports from Reuters and local Malaysian news outlets. Finance Minister Lim Guan Eng is reported to have confirmed the news, mere days after Federal Territories Minister Khalid Abdul Samad told reporters that the government had not yet decided cryptocurrency’s legal status in the country.
BCEX Global recently announced that it was listing the Einsteinium Foundation’s EMC2 digital currency on its cryptocurrency exchange. The EMC2 token can now be deposited, withdrawn, and traded on the exchange.
The legal status of cryptocurrency remains an open question in Malaysia as the government has yet to make a final determination on the subject, according to recent reports from Malaysian media outlet Malay Mail.
The Initial Coin Offering (ICO) has been a fundamental part of crypto startups since their rise in popularity during 2017 and was largely responsible for the subsequent cryptocurrency bubble. Startups or projects creating new currencies, services or apps launch an ICO to attract investors with an established digital token (Ethereum, Bitcoin etc.) and in exchange investors receive new tokens that they generally believe will provide a future return on their investment. This is roughly the equivalent of mainstream commerce’s Initial Public Offering (IPO) as a way of raising investment capital, except ICO tokens issued by blockchain businesses allowed access to the startup’s product or service, rather than representing any claim of ownership in the venture.
Coincheck announced in a January 11 statement that the company has been formally registered as a licensed cryptocurrency exchange agency. According to that statement, the company’s registration with the Kanto Financial Bureau is effective today.