New year starts with new regulations

  /  1 minute read

President Nayib Bukele made the decision to install more than 200 cryptocurrency ATMs in El Salvador as part of the country’s effort to make Bitcoin legal cash. Due to this decision, El Salvador was the third-largest center for crypto ATMs, but in 2022 Spain and Australia overtook it. According to CoinATMRadar, Australia installed 99 crypto ATMs in the last three months of the year 2022. Australia had 219 operational ATMs as of January 1, 2023, 7 more than El Salvador, and represents 0.6% of global crypto ATM installations. 

From Sunday, the U.K. will enforce a tax exemption for international investors buying cryptocurrency through regional investment managers or brokers. In order to make the UK a center for cryptocurrency, Prime Minister Rishi Sunak announced tax exemption in December. The Financial Services and Market Bill, which would give regional financial regulators additional control over cryptocurrencies, is currently being debated in Parliament. HM Revenue and customs released a consultation in July to get opinions from investors and industry experts on how it should tax Decentralized Finance (DeFi).

Leave a Reply

Your email address will not be published. Required fields are marked *