“Cryptocurrency Presents More Risk Than Benefits,” Says Spain’s Central Bank Governor

News | May 25, 2018 By:

Luis María Linde, the governor of Spain’s central bank, has warned that cryptocurrency presents more risk than benefits.

In a speech at a meeting of leaders of the financial sector organized by Deloitte, Linde said that cryptocurrencies are spurious novelties that do not provide significant improvements and that should be tackled as soon as possible.

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India Considers Retroactive Tax On Cryptocurrency Trades

News, Regulation | May 24, 2018 By:

The government of India is reportedly considering imposing an 18 percent goods and services tax (GST) on cryptocurrency transactions.

According to Bloomberg, citing a source with direct knowledge of the matter, the Central Board of Indirect Taxes and Customs (CBIC) of India is working on a proposal to apply the GST to cryptocurrency trading as they could be classed as intangible goods.

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Norway’s Norges Bank Considers Developing Central Bank-Issued Cryptocurrency

News | May 24, 2018 By:

Norges Bank, the central bank of Norway, has published a paper that explores the possibility of developing its own digital currency.

The report, prepared by the central bank’s working group, stated that a decline in cash usage has prompted the bank to think about whether at some future date a number of new attributes that are important for ensuring an efficient and robust payment system and confidence in the monetary system will be needed.

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