The Indonesian government announced that it has decided to tax capital gains from investments in crypto assets at 0.1% starting in May. In addition, value added tax (VAT) of the same type will be applied to cryptocurrency purchases, according to the Indonesian Directorate General of Taxation, under the Ministry of Finance.
China reported that it will expand the test of its sovereign digital currency to several Chinese cities, such as Chongqing, Tianjin, Hangzhou and Guangzhou, although it has not yet expressed itself on the cross-border use of the CBDC.
The UK government on Monday announced measures that it says will “make stablecoins recognized as a valid form of payment, as part of broader plans to make Britain a global hub for technology and investment in crypto assets.” According to the government announcement, the UK intends to legislate to include stablecoins in the payments regulation perimeter, creating the conditions for stablecoin issuers and service providers to operate and invest in the nation.
Nearly half of surveyed crypto owners made their first crypto purchase in the past year, according to a survey commissioned by the Gemini exchange. According to the report, about 50% of crypto asset owners from the United States, Latin America, and the Asia-Pacific region bought their first crypto asset in 2021.
Australian convenience store and gas station giant On the Run (OTR) reported that it will soon accept cryptocurrency payments at 170 outlets in South Australia and Victoria through a partnership with cryptocurrency platform Crypto.com