WEF published a report on the risks and benefits of DeFi

WEF published a report on the risks and benefits of DeFi

The World Economic Forum (WEF) has published a paper on the opportunities and risks of decentralized finance (DeFi) and its impact on the financial sector. The document outlines the challenges that can be addressed with this emerging sector of the cryptocurrency industry. It also provides general information about DeFi so that policymakers and regulators gain a broader understanding of it. The WEF researchers paid particular attention to the risks associated with DeFi. First of all,…

Denmark will amend the Tax Code on cryptocurrencies

Denmark will amend the Tax Code on cryptocurrencies

The Danish Tax Authority will amend the current Tax Code of the country to reflect the use of cryptoassets and prevent tax evasion. Danish Tax Minister Morten Bødskov said that between 2015 and 2019, the Danish Tax Service identified about 16,000 individuals and legal entities involved in cryptocurrency trading. However, two thirds of the total number of transactions made by these persons during the specified time were not reflected in tax returns. Bedskov said that…