In this roundup, we cover an exceptionally busy week for crypto regulations around the globe. We start our coverage with the U.S. Virtual Currency Tax Fairness Act of 2020, actions by the SEC, Ripple’s lawsuit, India’s supreme court hearings, Australia green-lighting a bitcoin retail fund, Thailand approving a new crypto exchange, and new crypto guidelines in Canada and Malaysia. We also cover the FATF’s progress to ensure countries implement its crypto standards, the regulatory developments in South Korea, China, Russia, Uzbekistan, Venezuela, and six central banks and the Bank for International Settlements collaborating on central bank digital currencies.
Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia
US Virtual Currency Tax Fairness Act of 2020
The U.S. made headlines last week when Representative Suzan K. DelBene introduced a bill on Jan. 16 “To amend the Internal Revenue Code of 1986 to exclude from gross income gain from disposition of virtual currency in a personal transaction.”…