Fun

News Feed - 2023-09-10 02:09:31

Ana Paula Pereira6 hours agoG20 moves forward with international crypto frameworkThe upcoming framework will affect users in several countries by automatically exchanging information about crypto transactions between jurisdictions on an annual basis.2200 Total views31 Total sharesListen to article 0:00NewsJoin us on social networksLeaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets. 


According to local reports in New Delhi — where the group members are attending for a two-day summit — the framework will facilitate information exchange between countries beginning in 2027.


“We call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions,” noted a consensus declaration signed by G20 leaders.


Several countries would be affected by the upcoming framework, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States, as well as the European Union. Two-thirds of the world"s population lives in a G20 country.At the One Family Session of the G20 Summit, elaborated on how to collectively think about empowering fellow humans and making our planet more inclusive as well as sustainable.

Gave the example of how technology has been leveraged to bring a positive difference in the lives of… pic.twitter.com/SqT9OjStps— Narendra Modi (@narendramodi) September 9, 2023


The Crypto-Asset Reporting Frameworkwas first introduced in October 2022 by the Organization for Economic Cooperation and Development (OECD). The document was designed to give tax authorities greater visibility into crypto transactions, as well as the individuals behind them.


Under the proposed framework, countries would automatically exchange information on crypto transactions between jurisdictions annually, covering transactions on unregulated crypto exchanges and wallet providers.


Crypto transactions are already subject to new disclosure standards in many countries. In May, the European Union approved updated rules to adhere to the CARF, setting procedures for automatic information sharing between European governments for tax purposes. As per the new rules, transfer of digital assets should be accompanied by the name of the beneficiary, the beneficiary"s distributed ledger address, as well as the beneficiary"s account number.


The group also endorsed recommendations from the Financial Stability Board (FSB) for the "regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements," according to the announcement. Published in July, the recommendations set similar standards for stablecoins as commercial banks, and urge regulators to prohibit any activities hindering the identification of involved participants, among other recommendations.


Magazine: Crypto City guide to Sydney: More than just a ‘token’ bridge# Blockchain# Law# Taxes# G20# global crypto community# RegulationAdd reactionAdd reactionRead moreHow to actually spend your Bitcoin, ExplainedRon DeSantis’ falling polls: Could crypto lose its candidate?Saudi Arabia looks to blockchain gaming and Web3 to diversify economy

News Feed

Brayden Lindrea3 hours agoBase project RocketSwap shares emergency plan following $865K exploitRocketSwap Labs plans on reaching out to the exploiter on-chain, who stole an estimated $865,000 from the protocol on Aug. 14
Jesse Coghlan3 hours agoConsumer surveys show a growing distrust of AI and firms that use itA global consumer survey from Salesforce shows a growing distrust toward firms that use AI, while an Australian survey found mos
Researchers identify key circuit layer vulnerabilities in SNARK systems
Ana Paula Pereira3 hours agoResearchers identify key circuit layer vulnerabilities in SNARK systemsA study by Imperial College London examined 141 vulnerabilities in SNARK systems, mostly impacting system soundness and c
BTC Whale Transfers $940 Million Out of Coinbase — 3 Batches of ‘Sleeping Bitcoins’ From 2011 Move
BTC Whale Transfers $940 Million Out of Coinbase — 3 Batches of "Sleeping Bitcoins" From 2011 Move On Tuesday, October 18, researchers from the crypto analysis platform Cryptoqua
Report: Equitiesfirst Named as ​​Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender
Report: Equitiesfirst Named as ​​Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender Ever since Celsius paused withdrawals on June 12, the company has been the focus
Martin Young2 hours agoSam Altman’s OpenAI ouster sees rollercoaster Worldcoin priceSam Altman’s eye-scanning world ID project saw its token price go on a wild ride over the weekend after he was fired by OpenAI.1348
ECB President Christine Lagarde Blames Climate Change for Europe’s Torrid Inflation
ECB President Christine Lagarde Blames Climate Change for Europe’s Torrid Inflation According to the French politician currently serving as the president of the European Central
Japanese Court Orders Seizure of Cryptocurrency Linked to Coincheck Hack of 2018
Japanese Court Orders Seizure of Cryptocurrency Linked to Coincheck Hack of 2018A court in Tokyo, Japan has ordered the seizure of crypto assets that have been traced back to the Co
$7,000 Ethereum In Sight? Expert Breaks Down The Potential Path
Este artículo también está disponible en español. There is a reason for Ethereum fans to be optimistic, as expert analysis suggests that the cryptocurrency is going to to
Binance Joins Association of Certified Sanctions Specialists
Binance Joins Association of Certified Sanctions Specialists Cryptocurrency exchange Binance has become a member of an organization providing training for sanctions compliance. Wit
BTC price tags $66K — can Bitcoin bulls beat out $100M of asks?
William Suberg30 minutes agoBTC price tags $66K — can Bitcoin bulls beat out $100M of asks?Bitcoin buyers need to ramp up pressure to squeeze the market back toward all-time highs, BTC price analysis concludes.205 Tota
Bitcoin Volatility Expected to Rise After the US Presidential Election
Bitcoin Volatility Expected to Rise After the US Presidential Election While the United States prepares for the results of the 2020 Presidential Election, a numb