Search results for Virtual Asset Committee
Crypto
Bitcoin breaks $80,000 after three months, raising questions over South Korea digital asset regulation
Bitcoin has climbed above $80,000 for the first time in about three months, supported by a weaker dollar, expectations of clearer U.S. digital asset regulation and inflows into spot exchange-traded funds. In South Korea, discussions on a basic digital asset law have resumed, raising attention over whether it will lead to institutional changes such as corporate investment rules and spot ETF adoption. Key issues include exchange major shareholder limits and delayed guidelines for corporate trading.
Crypto
Nigeria issues digital asset tax guidelines, some taxes to be paid in tokens
Nigeria has issued new guidelines requiring cryptocurrency exchanges and peer-to-peer platforms to collect, report and pay taxes on digital asset transactions. The rules require platforms to withhold 1 percent of proceeds from disposals of taxable crypto assets, security tokens and applicable NFTs. A 10 percent withholding tax applies to staking, mining, airdrops and DeFi income. Some withheld taxes must be paid in the token used in the transaction.
Crypto
Kyrgyzstan emerges as \'crypto Switzerland\' and targets Central Asia hub
Kyrgyzstan is moving to build a Central Asian digital asset hub, backed by two state-level stablecoins and a large gold storage facility. A local fintech consultant said a dollar-pegged token is backed by physical gold bought by the finance ministry and stored in a new national vault, with the ministry holding all tokens. A second stablecoin is based on the som and launched on BNB Smart Chain with Binance.
