BITCOIN

Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices designed for cryptocurrency mining, Bitmain, has reportedly been fined for unpaid taxes. The news was spread on social media by Chinese crypto journalist Colin Wu, also known by his Twitter handle ‘Wu Blockchain.’ Bitmain, the world’s largest bitcoin mining machine company, was fined about $3.55 million by the Beijing tax bureau in April, mainly for unpaid personal income taxes. https://t.co/wbXF3pFYxn — Wu Blockchain (@WuBlockchain) April 11, 2023 Wu referred to a report by Sina Finance on Tuesday, according to which Beijing Bitmain Technology is facing a hefty fine of nearly 25 million yuan (over $3.6 milli

The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate standards, including the G7 public policy principle for retail CBDC,” said Japan’s Vice Minister of Finance for International Affairs. G7 to Discuss Stronger Crypto Regulation The G7 countries will discuss tighter cryptocurrency regulation as well as explore ways to assist developing countries in introducing central bank digital currencies (CBDCs) to ensure consistency with international standards, Reuters reported, citing Japan’s Vice Minister of Finance for International Affairs, Masato Kanda. The Group of Seven (G7) consists of Canada, France, Germany, Italy, Japan, the U.K., and the U.S. The European Union (EU) also attends G7 meetings. Japan holds the Presidency of the G7 this year. Kanda explained at a semi

The BRICS nations are focusing on increasing their international roles and “enhancing coordination on key multilateral platforms,” Russia’s Minister of Foreign Affairs reportedly revealed after a meeting with BRICS ambassadors. He stressed “the need for joint efforts to counter destructive actions aimed at destroying the established security architecture.” BRICS Seeks Expand Global Influence Russia’s Minister of Foreign Affairs, Sergey Lavrov, stressed the need for joint efforts to counter Western countries’ “destructive actions” on Monday at a meeting with ambassadors from the BRICS countries, Russian news agency Tass reported. The BRICS nations consist of Brazil, Russia, India, China, and South Africa. According to a statement released by the Russian Foreign Ministry at the conclusion of the meeting: Lavrov stressed the need for joint efforts to counter destructive actions aimed at destroying the established security architecture, being undertaken in line with the Western count