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Crypto5 Nov, 22:22 UTCUnited States

White House begins review of SEC proposal on crypto broker rules

The White House is now examining an SEC proposal that sets financial requirements for crypto broker-dealers. Tax treatment of crypto gains is also shifting in several countries.

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Photo: White_House_West_Wing_-_1st_Floor.png : Sarfa derivative work: TCY ( talk ), Public domain, via Wikimedia Commons

Crypto · 5 Nov, 22:22 UTC

The Securities and Exchange Commission (SEC) sent the proposal to the White House, where review has begun. The Office of Information and Regulatory Affairs got the filing, which carries the identifier 3235-AN48.

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Rules 15c3-1 and 15c3-3 appear on the SEC's regulatory agenda. One deals with the capital brokers are required to keep. The other deals with how customer assets are safeguarded.

In numbers

22%South Korea crypto gains tax
10%Greece crypto gains tax
€500Greece tax-free amount

Bitcoin, the past month

$75,271down −12.29%

Crypto

Other governments are adjusting crypto taxes too. South Korea plans to ask its lawmakers to push back the 22% levy on crypto gains to 2029, a fourth postponement. The plan would also let investors apply losses to later years for as long as three years.

Greece has set a 10% tax on crypto gains, with the first €500 free of tax.

Hong Kong lawmakers passed a bill that writes the OECD's Crypto-Asset Reporting Framework into law. Service providers will start gathering user information next year. Information will be shared across borders from 2028.

What comes next

South Korea's government will ask lawmakers to approve the delay of its crypto tax to 2029.

Bitcoin$75,271down −12.29%over 1 month

Prices by CoinGecko. Past moves say nothing about future ones.

$1,000 in Bitcoin

Had you put Amount in dollars$ into Bitcoin a month ago, it would be worth – now.

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Background

South Korea's planned delay would be the fourth for its crypto gains tax.

Where: United States
Published: 5 Nov, 22:22 UTC
Section: Crypto
Markets: Bitcoin

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: White_House_West_Wing_-_1st_Floor.png : Sarfa derivative work: TCY ( talk ), Public domain, via Wikimedia Commons

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