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Taiwan: Money Laundering Control Act Amended, Regulating Virtual Currency Platforms

(Jan. 22, 2019) On November 7, 2018, Taiwan’s Money Laundering Control Act was amended to strengthen the legal compliance requirements for the internal control and auditing of financial institutions and to include virtual currency platforms within the regulatory scope of the Act. (Money Laundering Control Act (enacted Oct. 23, 1996, last amended Nov. 7, 2018), […]

Israel: Tax Authority Notifies Cryptocurrency Owners of Tax Obligations

(Dec. 13, 2018) The Israel Tax Authority (ITA) has recently notified hundreds of Israelis it has identified as receiving income from cryptocurrency that they are required to report on their transactions in bitcoin and other cryptocurrency. The ITA does not consider cryptocurrency as currency but rather as assets subject to property tax at a rate […]