DailyCryptonews by cryptoborges - 24/09/2020

By Francisco Borges | CryptoNews by cryptoborges | 24 Sep 2020

Hi huys hope you enjoy your daily dose of crypto news.

European Commission adopts digital finance package for crypto and blockchain

On Sept. 24, the EC officially adopted a new digital finance package including digital finance and retail payments strategies, as well as legislative proposals on crypto assets.

As part of the new legislative proposals, the EC pays special attention to stablecoins — a type of cryptocurrency that pegs value to an external reference like the United States dollar or an algorithm.

mentions Helen Partz

Russian ministry proposes criminal charges for failure to report crypto tax

Russia’s Ministry of Finance is continuing to push regulations for the cryptocurrency industry by proposing new tax requirements.

According to a Sept. 24 report by Kommersant, the ministry proposes that individuals who fail to report an amount of over 1 million Russian rubles ($13,000) in annual crypto operations should serve a three-year prison term or hard labor.

The ministry also proposed major fines for smaller unreported amounts. As such, any physical or legal entity in Russia would have to report their annual crypto income if its amount exceeds 100,000 rubles ($1,300). Failure to report such amounts are subject to fines of 30% from the total amount of crypto assets held, but no less than 50,000 rubles ($650), the report notes.

says Helen Partz

Over 100 Million People Hold Bitcoin, Altcoins Globally

Crypto usership is going up at an exponential rate, per researchers at the Cambridge Centre for Alternative Finance, with over 100 million people worldwide now making use of cryptoassets – a massive increase from the 35 million figure the same researches identified just two years.

According to a new study, the number of identity-verified cryptoasset users has shot up from 35 million globally to “101 million unique cryptoasset users across 191 million accounts.”

says Tim Alper