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The Monetary Authority of Singapore (MAS) has reiterated that cryptocurrency exchanges need to conform to restrictions on Russian users imposed over Moscow’s invasion of Ukraine. The reminder comes after researchers established that pro-Russia activists have raised millions of dollars in digital assets to support its war effort. Singapore Says Measures Targeting Russia Apply to All Financial Institutions, Including Crypto Exchanges Compliance with financial sanctions on Russia is a must for licensed cryptocurrency exchanges, the Monetary Authority of Singapore (MAS) commented for local media on Monday. The statement comes after recent studies found that pro-Russian groups have received crypto donations worth millions of U.S. dollars to fund Russian military operations in Ukraine. Following Russia’s invasion in late February, MAS introduced in March financial measures aimed at designated Russian banks, entities, and activities, including fundraising benefiting the Russian governme...

Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government of Portugal Proposes New Tax for Cryptocurrency-Related Gains In the past few years, Portugal has established itself as one of Europe’s most crypto-friendly countries, with a decision to refrain from taxing gains derived from crypto trading, unless they’re part of a business activity, playing a key role. It attracted many crypto enthusiasts. However, that’s likely to change in the near future if the parliament adopts the budget the government is proposing for 2023. The draft Features a provision allowing authorities to tax gains on crypto holdings held for less than a year at a rate of 28%, Bloomberg reported quoting the document. Portuguese lawmakers rejected similar propo...

Crypto analyst Bluntz (@SmartContracter) predicted Bitcoin will trade sideways in a range bound environment for 12 more months - so far, he's been accurate. He posted the tweet below on August 29th, and six weeks on Bitcoin is still trading sideways between approximately $17,500, the 2022 yearly low, and the range high at around $25,000. Bluntz' Bitcoin Price Prediction His max pain scenario for Bitcoin would take until late 2023 to play out - Bluntz marked out a possible 392 day trading range on the Bitcoin price chart. 'Max pain' is a term applied to options trading, and also used colloquially in all types of crypto trading . It's defined on Investopedia as the ' price at which a stock (or cryptocurrency) would cause financial losses for the largest number of option holders - puts and calls - at expiration' . With the next Bitcoin halving set to take place around March 2024 - in 527 days - some predict it could also take until then f...