FSB: development of stablecoin regulation by G20 countries is at an early stage

The Financial Stability Board has released data on the progress of 48 countries in complying with the guidelines for regulating stablecoins. The G20 countries are still in the early stages of developing rules. According to the latest report from the G20 Financial Stability Board (FSB), jurisdictions have made little progress in developing rules for stablecoins. As a reminder, in April last year, the FSB presented general guidelines for regulating stablecoins. “Jurisdictions have adopted or are…

South Korea will introduce taxation of cryptocurrencies excluding NFT from January 1, 2022

South Korea will introduce taxation of cryptocurrencies excluding NFT from January 1, 2022

South Korean Finance Minister Hong Nam-ki announced that the cryptocurrency tax law will take effect in 2022. At the same time, NFTs are excluded from the legislation. The finance minister said that petitions to postpone the entry into force of taxation of income from cryptocurrencies have been rejected, and the law will enter into force on January 1, 2022. He stated that the South Korean cryptocurrency sector has grown to the size of the stock…