Hong Kong regulators are taking action against crypto fraud following the arrest of six individuals linked to the unlicensed exchange JPEX. The government is raising awareness and reminding investors to only use platforms with a Securities and Futures Commission license.
Meanwhile, Thailand’s Revenue Department has announced they will be introducing personal income taxes on foreign revenues, including those from crypto trading, for those residing in Thailand for more than 180 days. Previously, only income that was remitted to Thailand in the year of earning was taxed, but this new rule closes that loophole.
In Brazil, lawmakers are taking steps to recognize crypto as a part of personal financial assets with an amendment to a bill that seeks to protect individuals’ private savings up to an amount equal to 40 minimum wages from potential seizure by creditors. Deputy Felipe Francischini noted that people’s investment behavior has changed, with traditional savings accounts losing ground to other forms of financial investment.
The House of Lords has approved a bill allowing authorities in the United Kingdom to target illicit cryptocurrency usage. The Economic Crime and Corporate Transparency Bill, which was introduced in September 2022, will soon be put to a vote in the House of Commons.
Sam Bankman-Fried’s parents have become embroiled in the FTX court saga, with debtors of the bankrupt crypto exchange launching a lawsuit against them for misappropriating millions of dollars through their involvement in the business. FTX debtors and debtors-in-possession filed a lawsuit against Joseph Bankman and Barbara Fried, claiming that they exploited their access and influence within the FTX empire to enrich themselves.
The U.S. House Financial Services Committee has approved the CBDC Anti-Surveillance State Act, which seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) to individuals and using it to implement monetary policy. Representative Tom Emmer has called digital assets a “sleeper issue” in U.S. politics at both the state and federal levels.
