Markets Update: Cryptocurrencies Lose Over 20 Percent This Week

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Harsh Laws Make Bitcoin Holders Consider Renunciation or Dual Citizenship

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As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their citizenship in order to become stateless. Some people will also attempt to get double-citizenship, as both of these acts may help sovereign individuals avoid government intrusion and theft. Also Read: As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted A Cryptocurrency Advocate’s Quest for Financial Sovereignty May Involve Hard Choices It’s been close to 11 years since the inception of Bitcoin and during the last few years government agencies and law enforcement have been cracking down on digital currency holders. In certain areas around the world, a few countries have extremely difficult crypto laws and stringent capital gains taxes. Countries like the U.S. have imposed strict regul...
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Asset Managers UBS, Pimco, T. Rowe Price Caution of Cryptocurrency Investing, Expect Strict Regulations

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A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management explained that the price volatility that followed the Tesla bitcoin announcement “highlights risks companies face if they take on crypto balance sheet exposure.” The bank added: We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream. Last week, Bitcoin News reported that UBS, the largest bank in Switzerland, was exploring offering cryptocurrency services to its ...
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Law Firm Sees Crypto Investors Flocking to St. Kitts & Nevis for Dual Citizenship

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This week news.Bitcoin.com spoke with Jennifer Harding Marlin from the St. Kitts & Nevis islands law firm JH Marlin. The business specializes in all types of law practice and citizenship by Investment (immigration) is very popular. Marlin explained that recently, the company is getting “a lot of clients in the crypto space that are looking to obtain second passports.” During the last few months, the whole world has been shaken by the Covid-19 outbreak and this has caused citizens to seek alternatives in certain careers, education, and even citizenship. News.Bitcoin.com recently spoke with an expert when it comes to second-citizenship when we discussed the subject with JH Marlin ’s Jennifer Harding Marlin . She recently told our newsdesk that crypto investors, in particular, have been looking to obtain a second passport. Jennifer Harding Marlin and the JH Marlin law firm helps individuals looking to leverage citizenship by investment via the Saint Christopher and Nevis Citizens...
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