The ban on BTC in Russia is “the same as the ban on the Internet,” says Russia’s finance minister
The finance minister also reportedly said that it would be much better to start regulating the cryptocurrency industry as soon as possible, as it would allow the government to finally monitor the market and increase the country’s budget through cryptocurrency taxes.
“What’s wrong with that, I don’t understand why it should be banned.” Siluanov said at the briefing, adding that there is an easy solution for market taxation. According to the minister, the government should keep taxes on realized profits on the amount of deposited and withdrawn fiat assets.
The central bank, on the other hand, is calling for a total ban on crypto assets, arguing that it creates risks, especially for citizens, and can “infect” financial institutions, banks and also create an opaque market.
Portugal is slowly becoming a bitcoiner’s paradise
The small, sunny country has recently welcomed bitcoiners and crypto industries off its shores, as the zero tax is a huge attraction.
While Switzerland is in the spotlight thanks to the most friendly cryptocurrency jurisdiction in Europe, Portugal is accelerating its pace. The crypto community and the benefits flowing from it grow in it.
The Portuguese welcome of bitcoiners began six years ago. The 2016 Law of the Portuguese Tax Office ruled that cryptocurrencies are not considered currencies, are not legal tender in Portugal and are therefore not subject to tax.
According to the available information, the initial fear turns in favor of the country, the crypto whales are anonymous here, but they spend their money on houses, they spend their BTC for everything, and that is certainly better than if they did it elsewhere.
According to Pwc, 61% of Luxembourg financial players will look for cryptocurrencies in 2022
According to a report issued by PwC Luxembourg, 61% of the 123 financial players based in Luxembourg “are heading for or preparing for cryptocurrencies.
The news comes shortly after KPMG Canada’s decision to add BTC and ETH to its reserves. The Big Four seem to see potential in cryptocurrencies.
Luxembourg is a small European country that far exceeds its weight in the financial services and blockchain sectors. In 2021, the prime minister declared that he wanted Luxembourg to become a “digital pioneer” in the field of blockchain.