{"id":9800,"date":"2020-09-28T16:05:20","date_gmt":"2020-09-28T14:05:20","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=2785"},"modified":"2022-03-15T11:50:55","modified_gmt":"2022-03-15T10:50:55","slug":"crypto-highlights-week-39-israeli-lawmakers-plan-to-exempt-bitcoin-from-capital-gains-tax-in-draft-new-law","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/9800","title":{"rendered":"Crypto Highlights Week #39 \u2013 Israeli Lawmakers Plan to Exempt Bitcoin From Capital Gains Tax in Draft New Law"},"content":{"rendered":"<p><b>Crypto Highlights: <\/b><i>SaTT closes token sale at $7.1 million, Israel exempts Bitcoin taxation,&nbsp; Russia blacklists Binance.com, Crypto users hit 100m worldwide, Bitcoin ATM hits 10,100 worldwide: these and more in this week\u2019s crypto highlights<\/i><b><i>.&nbsp;<\/i><\/b><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2788\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/11.png-1.jpg\" alt=\"\" width=\"700\" height=\"378\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/11.png-1.jpg 624w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/11.png-1-300x162.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_32 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table des mati\u00e8res<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table des mati\u00e8res\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Top_Headlines_Of_The_Week\" title=\"Top Headlines Of The Week\">Top Headlines Of The Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Top_Stories_Of_The_Week\" title=\"Top Stories Of The Week\">Top Stories Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#European_Commission_adopts_digital_finance_package_for_crypto_blockchain\" title=\"European Commission adopts digital finance package for crypto blockchain\">European Commission adopts digital finance package for crypto blockchain<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Bitcoin_ATMs_Surpass_10100_Worldwide_Expert_Shares_Industry_Outlook\" title=\"Bitcoin ATMs Surpass 10,100 Worldwide: Expert Shares Industry Outlook\">Bitcoin ATMs Surpass 10,100 Worldwide: Expert Shares Industry Outlook<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Exclusive_From_SaTT\" title=\"Exclusive From SaTT\">Exclusive From SaTT<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#SaTT_Smart_Advertising_Token_Raises_USD_71m_Rare_Feat_In_2020_Lackluster_Ico_Landscape\" title=\"SaTT Smart Advertising Token Raises USD 7.1m, Rare Feat In 2020 Lackluster Ico Landscape\">SaTT Smart Advertising Token Raises USD 7.1m, Rare Feat In 2020 Lackluster Ico Landscape<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Biggest_Adoption_Of_The_Week\" title=\"Biggest Adoption Of The Week\">Biggest Adoption Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Israeli_Lawmakers_Plan_to_Exempt_Bitcoin_From_Capital_Gains_Tax_in_Draft_New_Law\" title=\"Israeli Lawmakers Plan to Exempt Bitcoin From Capital Gains Tax in Draft New Law\">Israeli Lawmakers Plan to Exempt Bitcoin From Capital Gains Tax in Draft New Law<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#100M_people_worldwide_now_use_crypto-based_assets_says_Cambridge_study\" title=\"100M people worldwide now use crypto-based assets, says Cambridge study\">100M people worldwide now use crypto-based assets, says Cambridge study<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Biggest_Fallout_Of_The_Week\" title=\"Biggest Fallout Of The Week\">Biggest Fallout Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Russian_Ministry_Wants_Citizens_to_Report_Their_Crypto_Wallet_Details_Report\" title=\"Russian Ministry Wants Citizens to Report Their Crypto Wallet Details: Report\">Russian Ministry Wants Citizens to Report Their Crypto Wallet Details: Report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#Breaking_Binance_blacklisted_in_Russia\" title=\"Breaking: Binance blacklisted in Russia\">Breaking: Binance blacklisted in Russia<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/satt-token.com\/blog\/archives\/9800\/#This_Weeks_Crypto_Meme\" title=\"This Week\u2019s Crypto Meme\">This Week\u2019s Crypto Meme<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Top_Headlines_Of_The_Week\"><\/span><b>Top Headlines Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><b>We had a remarkable experience in our groundbreaking ICO as we completed $1 million within&nbsp; 48hours. We are proud to announce to our ever-expanding community, that we have closed the token sale at a staggering $7.1 million.&nbsp;<\/b><\/li>\n<li><strong>As the number of Bitcoin ATM surges pass 10,100, a report has alleged that the total number of crypto users has reached a remarkable 100 million.&nbsp;<\/strong><\/li>\n<li><strong>As Israel makes move to exempt crypto taxation, Russia is busy drafting stringent laws that will require crypto users to reveal their asset holdings.&nbsp;<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Top_Stories_Of_The_Week\"><\/span><b>Top Stories Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"European_Commission_adopts_digital_finance_package_for_crypto_blockchain\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/european-commission-adopts-digital-finance-package-for-crypto-and-blockchain\" target=\"_blank\" rel=\"noopener\"><b><i>European Commission adopts digital finance package for crypto blockchain<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2789\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/12.jpg\" alt=\"\" width=\"700\" height=\"368\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/12.jpg 1200w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/12-300x158.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/12-1024x538.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/12-768x403.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Europe has been doing great in terms of providing a perfect ground for cryptocurrency and blockchain to strive, and with the recent move, crypto and blockchain seems to have received the green light from regulators. <\/span><span style=\"font-weight: 400;\">The European Commission is moving to provide more legal clarity and certainty for the cryptocurrency industry in its member states.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On Sept. 24, the EC officially<\/span><a href=\"https:\/\/ec.europa.eu\/info\/publications\/200924-digital-finance-proposals_en\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">adopted<\/span><\/a><span style=\"font-weight: 400;\"> a new digital finance package including digital finance and retail payment strategies, as well as legislative proposals on crypto assets. According to the <\/span><a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/IP_20_1684\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">documentation<\/span><\/a><span style=\"font-weight: 400;\">, the new package represents the first proposed crypto legislation in Europe, with special consideration on stablecoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the proposal, The authority also wants to oblige crypto-asset issuers to publish a white paper with mandatory disclosure requirements. The EU had noted that <\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;By making rules safer and more digital-friendly for consumers, the Commission aims to boost responsible innovation in the EU&#8217;s financial sector, especially for highly innovative digital start-ups&#8221;<\/span><\/p><\/blockquote>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_ATMs_Surpass_10100_Worldwide_Expert_Shares_Industry_Outlook\"><\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-atms-10100-outlook\/\" target=\"_blank\" rel=\"noopener\"><b><i>Bitcoin ATMs Surpass 10,100 Worldwide: Expert Shares Industry Outlook<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2790\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/bitcoin.jpg\" alt=\"Bitcoin ATM\" width=\"700\" height=\"467\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">The number of crypto users continues to skyrocket, reaching 100 million worldwide.In parallel, number of Bitcoin ATMs has also seen a remarkable increase. After 7 years the first Bitcoin ATM was installed, the crypto ATM sector has reached a new milestone. The number of ATM machines installed worldwide has now surpassed 10,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the past 3 years, there has been a spontaneous increase in the number of available ATMs worldwide. According to an ATM tracking website <\/span><a href=\"https:\/\/coinatmradar.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Coinatmradar<\/span><\/a><span style=\"font-weight: 400;\">, they wrote, \u201cAfter the first 3.5 years, there were 1,000 active Bitcoin ATMs in operation, over the next 3.5 years this figure has increased by 9,000 ATMs more.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the site, about 10,162 cryptocurrency ATMs have been installed in 71 countries. In addition to this number, 211,270 other locations sell Bitcoin such as mall kiosks and convenience stores. This number shows deep penetration in the adoption of cryptocurrency at the mainstream level.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exclusive_From_SaTT\"><\/span><b>Exclusive From SaTT<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"SaTT_Smart_Advertising_Token_Raises_USD_71m_Rare_Feat_In_2020_Lackluster_Ico_Landscape\"><\/span><a href=\"https:\/\/bitcoinist.com\/satt-smart-advertising-token-raises-usd-7-1m\/\" target=\"_blank\" rel=\"noopener\"><b><i>SaTT Smart Advertising Token Raises USD 7.1m, Rare Feat In 2020 Lackluster Ico Landscape<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2791\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Image-1-4-1.jpg\" alt=\"\" width=\"700\" height=\"310\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Image-1-4-1.jpg 1280w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Image-1-4-1-300x133.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Image-1-4-1-1024x454.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Image-1-4-1-768x340.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">We had a remarkable experience in our groundbreaking fundraising as we <\/span><a href=\"https:\/\/www.ibtimes.com\/satt-ico-raises-1-million-48-hours-sign-bull-run-3040582\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">completed<\/span><\/a><span style=\"font-weight: 400;\"> a whopping $1 million within 48hours, breaking through their <\/span><a href=\"https:\/\/www.financemagnates.com\/thought-leadership\/satts-ico-hits-its-softcap-of-3360000-what-does-the-future-hold\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">soft cap<\/span><\/a><span style=\"font-weight: 400;\"> of $3,360,000 within 1 week. We are proud to announce to our ever-expanding community that we have closed the token sale at a staggering $7.1 million.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time being, we are listed on BW.com and Probit. In the coming days, we will be getting listed on more exchanges once we finalized listing agreements with those exchanges. As we end the ICO on a remarkable note, we wish to thank our great and supportive community for their unwavering support and for rallying behind us these past two years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We remain committed to making decisions that will benefit the entire SaTT community both in the short and long run. We will continue to communicate our plans as we head further into platform development and further exchange listing.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Biggest_Adoption_Of_The_Week\"><\/span><b>Biggest Adoption Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Israeli_Lawmakers_Plan_to_Exempt_Bitcoin_From_Capital_Gains_Tax_in_Draft_New_Law\"><\/span><a href=\"https:\/\/news.bitcoin.com\/israeli-lawmakers-plan-to-exempt-bitcoin-from-capital-gains-tax-in-draft-new-law\/\" target=\"_blank\" rel=\"noopener\"><b><i>Israeli Lawmakers Plan to Exempt Bitcoin From Capital Gains Tax in Draft New Law<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2792\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/israel.jpg\" alt=\"\" width=\"700\" height=\"368\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/israel.jpg 760w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/israel-300x158.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">While other Nations are busy drafting stringent laws that make life difficult for crypto users, Israel has taken a giant step to draft a tax bill that exempts Bitcoin from capital gains tax. According to a <\/span><a href=\"https:\/\/www.globes.co.il\/news\/article.aspx?did=1001343596&amp;fbclid=IwAR1KsItSjl5W5DRYId0l2JFasqKMCbj3VH7Vz2ymWSKmY4r-Vfz24DjQ-SE\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> from Globes, four legislators from the Yisrael Beiteinu political party presented the Income Tax Ordinance bill in the Israeli parliament Knesset on September 22.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The bill proposes several changes to crypto taxation, including the amendment of the existing tax law to exempt digital assets like bitcoin (BTC) from capital gains tax. It reads:<\/span><\/p>\n<blockquote><p><i><span style=\"font-weight: 400;\">\u201cThe regulatory reality in Israel is not adapted to the existing reality in the field. [Digital currencies] will continue to be a growth engine that allows the Israeli high-tech industry to flourish and develop.\u201d<\/span><\/i><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">So far, Israel remains a favorable ground for cryptocurrencies, Bitcoin was previously recognized as an asset in the region which is subject to capital gains of about 25%. However, this new bill plans on exempting the crypto asset from taxation.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"100M_people_worldwide_now_use_crypto-based_assets_says_Cambridge_study\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/100m-people-worldwide-now-use-crypto-based-assets-says-cambridge-study?\" target=\"_blank\" rel=\"noopener\"><b><i>100M people worldwide now use crypto-based assets, says Cambridge study<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2793\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/100M.jpg\" alt=\"\" width=\"700\" height=\"318\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/100M.jpg 1128w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/100M-300x136.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/100M-1024x465.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/100M-768x349.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s 2020, 11 years since Bitcoin was created. The entire cryptocurrency space continues to gain massive mainstream adoption. A report from Cambridge Centre for Alternative Finance has revealed that over 100 million people around the world are currently in possession of Bitcoin (<\/span><a href=\"https:\/\/cointelegraph.com\/bitcoin-price-index\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BTC<\/span><\/a><span style=\"font-weight: 400;\">) and other blockchain-based assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A 2018 report by <\/span><span style=\"font-weight: 400;\">Global Cryptoasset Benchmarking Study <\/span><a href=\"https:\/\/www.jbs.cam.ac.uk\/wp-content\/uploads\/2020\/09\/2020-ccaf-3rd-global-cryptoasset-benchmarking-study.pdf?v=1600941674\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">found out that<\/span><\/a><span style=\"font-weight: 400;\"> identity-verified crypto users stood at 35 million globally. This figure skyrocketed to 191 million in Q3, 2020, exclusive of self-hosted wallets. This is a staggering 189% increase from the data recorded in 2018.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The study also highlights the geolocation of consumers as crypto firms operating from North America and Europe. Says, these regions&nbsp; \u201creport higher user activity, with the median firm indicating that 40% of total users are considered active\u201d. The firm had noted the limitations of the research as well. Further it has stated that the numbers realized where approximate figures.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Biggest_Fallout_Of_The_Week\"><\/span><b>Biggest Fallout Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Russian_Ministry_Wants_Citizens_to_Report_Their_Crypto_Wallet_Details_Report\"><\/span><a href=\"https:\/\/www.coindesk.com\/russian-ministry-wants-citizens-to-report-their-crypto-wallet-details-report\" target=\"_blank\" rel=\"noopener\"><b><i>Russian Ministry Wants Citizens to Report Their Crypto Wallet Details: Report<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2794\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/russian-crypto.jpg\" alt=\"\" width=\"700\" height=\"467\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/russian-crypto.jpg 960w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/russian-crypto-300x200.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/russian-crypto-768x512.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Despite Russia&#8217;s soft spot for blockchain technology, the country seems to be taking a tough stance on the entire crypto community. <\/span><span style=\"font-weight: 400;\">Russia\u2019s Ministry of Finance is placing strict laws regarding the use of cryptocurrency in the region, including the requirement for crypto users to report their wallet balances and large transactions to the tax authorities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a report from Russian news source <\/span><a href=\"https:\/\/www.rbc.ru\/crypto\/news\/5f6c49079a79474d36bc852b?from=main\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">RBK<\/span><\/a><span style=\"font-weight: 400;\">, the amendment to the Russian law on digital assets which was <\/span><a href=\"https:\/\/www.coindesk.com\/putin-signs-russian-crypto-bill-into-law\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">signed<\/span><\/a><span style=\"font-weight: 400;\"> by President Putin in July will come into force in January 2021. These latest amendments will require crypto users to report certain personal information. Only if the wallet receives more than 100,000 Russian rubles (around $1,300) during one year. According to RBK, digital wallet address, transaction history and account balance are among them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This law also recognizes crypto crimes or crimes masterminds by the use of crypto assets. As an aggravating circumstance in court and could lead to more severe punishment.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Breaking_Binance_blacklisted_in_Russia\"><\/span><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/breaking-binance-blacklisted-in-russia-202009250748\" target=\"_blank\" rel=\"noopener\"><b><i>Breaking: Binance blacklisted in Russia<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2795\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Binance-blocked-Russia.jpg\" alt=\"\" width=\"700\" height=\"466\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Binance-blocked-Russia.jpg 1280w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Binance-blocked-Russia-300x200.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Binance-blocked-Russia-1024x682.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Binance-blocked-Russia-768x512.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/h3>\n<p><span style=\"font-weight: 400;\">The largest cryptocurrency exchange by trading volume, Binance has reportedly not fared well with the Russian crypto community. As the Russain watchdog takes a stringent move on the exchange, the community awaits eagerly on next steps. The Russian Roskomnadzor has added Binance to their long list of blacklisted websites.&nbsp;&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><em><strong>Note<\/strong><\/em>: Roskomnadzor(the Federal Service for Supervision of Communications, Information, Technology, and Mass Media)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a <\/span><a href=\"https:\/\/eais.rkn.gov.ru\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> published on the portal, the regulator has maintained that Binance&#8217;s website contains the forbidden information. The regulator cited information about purchasing cryptocurrency, particularly Bitcoin. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reacting to the development, Binance had <\/span><a href=\"https:\/\/t.me\/BinanceRussian\/2506614\" target=\"_blank\"><span style=\"font-weight: 400;\">stated<\/span><\/a><span style=\"font-weight: 400;\"> that they didn&#8217;t receive any notification prior to the action taken by the Russian authorities.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is of interest to note that Binance is not the only website blacklisted by the authorities. On September 24, users lost access to the mirror website of LocalBitcoins, the peer-to-peer platform for buying and selling Bitcoins.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"This_Weeks_Crypto_Meme\"><\/span><b>This Week\u2019s Crypto Meme<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2786\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/memee.jpg\" alt=\"\" width=\"700\" height=\"688\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/memee.jpg 624w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/memee-300x295.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>We hope you enjoyed this week&#8217;s edition of crypto highlights. For a peek at our last edition of crypto highlights &amp; blockchain news, click <a href=\"https:\/\/satt-token.com\/blog\/2020\/09\/21\/crypto-highlights-week-38-everything-from-last-week-you-dont-want-to-miss\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Highlights: SaTT closes token sale at $7.1 million, Israel exempts Bitcoin taxation,&nbsp; Russia blacklists Binance.com, Crypto users hit 100m worldwide, Bitcoin ATM hits 10,100 worldwide: these and more in this week\u2019s crypto highlights.&nbsp; Top Headlines Of The Week We [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[47],"tags":[],"class_list":["post-9800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-stories"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/9800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/comments?post=9800"}],"version-history":[{"count":2,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/9800\/revisions"}],"predecessor-version":[{"id":11036,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/9800\/revisions\/11036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/2787"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=9800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=9800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=9800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}