South Korean Officials Seize $47M in Crypto Due to Unpaid Taxes – BeInCrypto

South Korea seized nearly $50 million in cryptocurrency from 12,000 people, who are accused of tax evasion. 
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According to a recent report by The Financial Times, South Korea has come down hard on citizens who used crypto to help them evade taxes.

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BIS Says CBDCs Necessary to Keep Government Control of Money – BeInCrypto

The Bank for International Settlements (BIS) says central bank digital currencies (CBDCs) are needed to ensure governments retain control of money.
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BIS’s remarks come amid the global fall in the use of physical cash.

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Crypto Industry Has Paid $2.5 Billion in Fines Since Bitcoin Inception – BeInCrypto

Regulators in the United States have imposed fines of $2.5 billion on the cryptocurrency industry since Bitcoin’s founding.
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The Securities and Exchange Commission (SEC) is responsible for issuing a majority of these fines according to analysis from Elliptic.

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Central Bank of Portugal Grants Licenses to Crypto Exchanges – BeInCrypto

Banco de Portugal has granted operating licenses to local cryptocurrency exchanges for the first time ever. 
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The central bank announced that the Portuguese exchanges Criptoloja and Mind the Coin were now classified as virtual assets service providers.

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Australian Senate Committee: Blockchain Could Curb Imports of Forced Labor Goods – BeInCrypto

Blockchain technology was recommended to curb the import of forced-labor goods in a report from the Australian Senate Foreign Affairs, Defence, and Trade Committee. 
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The committee’s report examined the country’s recent Customs Amendment Bill.

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UK Regulator Finds Understanding of Crypto Decreased as Ownership Increased – BeInCrypto

The UK’s Financial Conduct Authority (FCA) released the results of its latest quantitative study on cryptocurrencies.
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The study is the third such undertaking by the FCA since October 2018.

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US Republican House Committee Accepting Crypto Donations – BeInCrypto

The National Republican Congressional Committee (NRCC) has begun soliciting donations in cryptocurrency — the first of its kind to do so.
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The NRCC is a campaign arm of the Republican Party, working to elect candidates to the United States House of Representatives.

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Analysts Believe CBDCs Will Ultimately Compliment Crypto – BeInCrypto

Analysts from CoinShares believe that central bank digital currencies (CBDCs) are not a competitor to crypto and rather a complementary currency offering.
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The vast majority, around 90%, of central banks have begun working on their own digital currencies.

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