Ukraine to Revise Virtual Assets Law in Line With EU Crypto Rules

Work is underway in Ukraine to update the legal act that applies to cryptocurrencies in order to align the nation’s legislation with European standards. Several government institutions in Kyiv are preparing changes to the bill “On Virtual Assets,” which was signed into law earlier this year. Ukraine to Transpose European Crypto Regulations Into National Law Ukraine’s law “On Virtual Assets,” the main piece of legislation that concerns the country’s crypto space, will be amended in accordance with the provisions of the European Union’s Markets in Crypto Assets (MiCA) legislative package.…

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Hungary’s Prime Minister Says ‘Europe Has Run out of Energy’ Amid Russia’s Gas Standoff

Europe is suffering and struggling to contain an energy crisis according to various reports that say the eurozone might have to deal with a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows seven out of ten Greeks purchase less food in order to pay for energy costs and fuel. Moreover, Hungary’s prime minister Viktor Orban explained in a social media post on Saturday that “Europe has run out of energy.” EU Deals With Ongoing Energy…

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Eurozone Inflation Taps Highest Rate Ever Recorded Reaching 9.1%, as Nord Stream, Gazprom Halt Gas Supplies

The Eurozone’s inflation rate reached a record high in August of 9.1%, the highest ever recorded in history, according to Europe’s statistics office Eurostat. The rate was higher than economists suspected and most of the rise was fueled by Europe’s rising energy prices. Europe’s Torrid Inflation Continues to Rise, While the Region Faces an Energy Crisis Currently, Europe is suffering from the highest inflation rate the euro area has seen in almost 50 years, and each one of the members of the monetary union has seen red-hot consumer prices. Just…

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Crypto.com secures regulatory license in Italy

Digital asset exchange Crypto.com has received approval from Italian regulators to offer its services in the Mediterranean country — a move the company says aligns with its vision of “building lasting growth in the region.” On Tuesday, Crypto.com announced that it had officially received registration and regulatory approval from Organismo Agenti e Mediatori, also known as OAM, Italy’s primary Anti-Money Laundering regulator. The approval effectively grants Crypto.com the ability to offer its products and services to Italian customers. Buongiorno Italia We’re proud to announce that https://t.co/vCNztATSCO has secured regulatory approval…

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Tax Agency Starts Checking Crypto Traders in Romania

Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains. Tax Authority in Romania Verifies Gains From Cryptocurrency Trading Romania’s National Agency for Fiscal Administration (ANAF) announced this week that officials from its department responsible for prevention of tax evasion and fraud have initiated inspections to establish the revenues received…

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Lithuania aims to tighten crypto regulation and ban anonymous accounts

In its efforts to fight money laundering risks and the possible schemes of Russian elites circumventing financial sanctions, the 2.8-million nation of Lithuania is planning to tighten its scrutiny over crypto.  As the local Ministry of Finance announced on Wednesday, June 8, various ministries of the Lithuanian government approved legal amendments to anti-money laundering (AML) and countering the financing of terrorism in the crypto sector. The amendments to the current law — should they later be approved by the Seimas, Lithuania’s legislature — would stiffen the guidelines for user identification…

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Coinbase Warns Some Russian Users Their Accounts May Be Blocked, Report Reveals

Leading U.S. crypto exchange Coinbase has reportedly notified certain Russian customers that their accounts may be blocked at the end of this month. According to Russian media, the trading platform has offered them to withdraw their funds unless they prove they are not under sanctions. Coinbase Reportedly Asks Russian Clients to Withdraw Funds Some Coinbase users from Russia have received letters informing them that their accounts will be blocked on May 31, the crypto page of the Russian business news portal RBC reported. The company suggested that these customers withdraw…

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