Key Takeaways

• Russia is set to recognise digital assets as a form of currency. Having reached an agreement on how to regulate crypto, the Russian government and central bank are now working on a draft law slated to be released by 18 February, which will define crypto as an ‘analogue of currencies’ rather than as digital financial assets.

• Thailand has scrapped its 15% crypto capital gains tax following public backlash. The Thailand Revenue Department had initially intended to tighten the oversight of crypto trading, which later triggered strong opposition from traders in the nation.

Highlights

• U.S. Bipartisan bill proposes tax exemption for small crypto transactions

• Tennessee lawmaker introduces bill which would allow state to invest in crypto

• Russian central bank registers nation’s first digital asset manager

• U.S. taxpayer rejects IRS refund for staking rewards

• In win for crypto stakers, U.S. IRS offers refund on untraded token rewards

• U.S. Treasury targets NFTs for potential high-value art money laundering

• U.K. tax agency cracks down on rules around DeFi lending and staking

• India confirms 'it's not illegal to buy or sell crypto assets' in India

• Australian billionaire sues Facebook over crypto scams with AG's consent

• Myanmar’s military government considers launching digital currency: Report

• Colombia clamps down on crypto tax evasion as adoption thrives

• Nigerians are among the first to take advantage of decentralised loans

• OpenSea once again delists CryptoPunks v1 as legal battle heats up

• Venezuelans reportedly hit by new Bitcoin tax of up to 20%

• Kazakhstan proposes power price hikes and taxes targeting crypto miners

• Central Bank of Jordan reveals CBDC plans

• U.S. lawmakers issue warnings about digital yuan as Winter Olympics kicks off

• Republican senator urges U.S. to monitor China's digital yuan push during Olympics

G20’s Crypto Policies (over the past 3 months)

G20's Regulatory Stance on Crypto

G20’s Crypto Taxation

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