Brazil’s tax dept to summon info from foreign crypto exchanges: Report
The Federal Revenue of Brazil is publishing an ordinance this week to look for any potential “illegality” and info on what Brazilians may be owing in tax.
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A recent paper from academics at Leiden Law School suggests that if a crypto exchange or crypto custodian goes bankrupt, investors could well lose control over their stored coins. This happened in Japan’s Mt. Gox exchange collapse, and more recently with the failure of Italy’s BitGrail exchange. Thus, it could happen again. Indeed, the paper implies…
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US Man Pleads Guilty to Running $25 Million Bitcoin Laundering Scheme
A Los Angeles man pleaded guilty to running a $25 million Bitcoin (BTC) money laundering scheme and sale of methamphetamine.Possible life sentenceNews outlet U.S. News reported on Aug. 23 that 25-year-old Kunal Kalra has pleaded guilty to charges including money laundering and distributing methamphetamines. Per the report, he could be sentenced to life in prison.The…
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India to reportedly ditch Bitcoin ban agenda in favor of asset classification
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