VHCEx Newsflash | 27th December 2019
Crypto Firms Can Now Apply For A License in France
Image source: Coindesk
Firms now can get licensed in France, with new rules and guidelines on applying for the licensing of the digital asset service providers (DASPs). Some of the requirements would include submitting a two-year business plan, a list on digital assets the firm will be offering, locations of where the firms will be operating as well as the organizational chart of the firm to the Financial Markets Authority (FMA). However, the license for crypto firms working in France is not mandatory.
YouTube Removes Crypto & Bitcoin Related Videos
Image source: The Star Online
Google has recently waged to a mini war with cryptocurrency and Bitcoin by removing hundreds of videos with it’s popular video site YouTube over the recent Christmas period. While the reasons cited tend to be ‘harmful or dangerous content’ and ‘sale of regulated this seem to only affect the smaller channels and publishers who made the cryptocurrency and Bitcoin related videos as crypto videos from U.S. business news publisher CNBC was not removed. This is a good thing when a big brand like YouTube removes the unreliable sources enforcing the importance of trading on a licensed exchange like VHCEx.
China Issued Special Bonds on Blockchain
Image source: Dash News
Formerly known as a nation unfriendly to blockchain, many were caught surprised when the Central Bank of China issued 20 billion Chinese yuan of special bonds on blockchain. China’s self-developed blockchain issuance system was displayed for the first time and is tasked to handle administration and tracking of these bonds which will be used to fund small and micro-enterprise businesses.
Uzbekistan Bars Citizens from Buying Cryptocurrencies
Image source: KryptoMoney
Having portrayed a positive attitude on cryptocurrencies previously, latest reports seem to contradict it as local news outlet Novosti Uzbekistana said that the government is prohibiting citizens from buying crypto even if it’s from well-known exchanges. The Uzbekistan government signed a memorandum of understanding to regulate and establish licensing for crypto exchanges, mining operations and initial coin offering just last year September. Current crypto holders are still allowed to sell their investments after completing their KYC on two licensed exchanges.
New Crypto Tax Tool by Thomson Reuters
Image source: Bitcoin.com
With the taxmen across the world focusing on crypto transactions, investors need more help than ever to navigate through the regulations and Thomson Reuters is launching its ‘Virtual Currency Organizer’ to help them. Partnering with Verady who focuses in cryptocurrencies’ accounting and reporting, users can view the transactions in a central location and have them reported in the according forms with Verady’s Legible platform combine information from all sources.