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The UK tax authority has made a bold move, requiring all cryptocurrency holders to provide personal information to service providers, including name, address, tax number, etc. Those who do not comply will face a £300 fine. Meanwhile, New York State is also brewing a new cryptocurrency tax scheme, expected to collect $158 million annually. It seems that governments around the world have set their sights on the lucrative cryptocurrency sector.
New York's plan is even harsher. Not only will there be taxes on transactions, but also an environmental tax on mining, and special business taxes on crypto companies. If passed, other states will surely follow suit. Although the federal level in the U.S. is relaxing, states may intensify tax collection, which is a trend worth noting.
The situation in Asia is more complex. Singapore has raised the bar for crypto service providers, with higher capital requirements and stricter risk management. However, this has actually enhanced Singapore's reputation, making high-end institutions more willing to go there. Japan, on the other hand, has a mixed approach: it has loosened regulations on ETFs while tightening derivative oversight. Each country is trying to find its own balance.
The EU's MiCA regulation will be fully implemented this year, making it the most comprehensive cryptocurrency regulatory framework globally. The 27 member states have a unified standard, which is good for businesses as they will not have to deal with different regulations. However, compliance costs are not low, and small businesses may struggle.
This wave of global regulation has several characteristics. First, there is a convergence in direction, with efforts focused on anti-money laundering, consumer protection, and taxation. Second, it is becoming more detailed, extending regulation beyond exchanges to include DeFi, NFTs, and stablecoins. Third, technological means have kept pace, using AI and blockchain analysis for regulation, significantly improving efficiency.
For investors and businesses, this is both a challenge and an opportunity. Regulations are becoming clearer; although compliance costs are higher, long-term operations are more secure. Investors are also feeling more assured, and the market will be more stable. The key is to keep up with policy changes and prepare in advance. #美联储取消创新活动监管计划 #中国投资者涌向印尼 #美国7月PPI年率高于预期