Poland Introduces 19% Tax on Cryptocurrency Gains
The Polish government changed its regulation on cryptocurrencies. Earlier this year, the Polish government proposed that users of cryptocurrencies were to pay taxes on every crypto transaction. The crypto space met this proposal with strong resistance and the government postponed its regulation to find more adequate solutions. The new proposal states that crypto investors have to pay a 19% tax on profits if an investor buys non-crypto assets or if he exchanges for fiat money. The amendment already passed parliament and only awaits approval by Poland’s president Andrzej Duda. It will enter into force on 1 January 2019.
Christine Lagarde Gives Greenlight for Central Banks to Issue Digital Currencies
The managing director of the International Monetary Fund (IMF) Christine Lagarde has made a statement to central banks urging them to consider issuing national Cryptocurrencies. She was speaking in Singapore during a recent press conference.
Bank Of America Poised To Store Cryptocurrencies For High-End Clients
Under the leadership of Brian T. Moynihan who is the chairman and CEO of the Bank of America, there has been a tremendous application of patents with the United States Patent and Trademark Office. One of these patents protects the concept by the Bank of America to develop a Cryptocurrency aggregation system.
Japan Financial Services Agency Plan to Regulate Cryptocurrency Wallets
Japan financial regulator, Financial Services Agency revealed a plan that will enable it to monitor and regulate cryptocurrency wallet services better. The decision to implement this plan was made after revelation that there are numerous fake cryptocurrency wallets on Google play store.