Latest News
Ukraine proposes tax on cryptocurrencies
Reading Time: 1 minute
A new bill submitted for approval in Ukrainian Parliament has proposed a new tax on cryptocurrencies. This has resulted in raised eyebrows, because the legal status of cryptocurrencies is not yet clear in the country. This draft proposal of the bill was submitted by a group of 23 MPs. According to the bill, it is aimed at bringing out of the shadow economy a large volume of operations with cryptocurrencies and pumping up the state budget. In particular, the deputies propose to impose a 5 per cent tax on the profits of individuals related to transactions with cryptocurrencies. The profit of company involved into operations with cryptocurrencies, is also proposed to be taxed at a rate of 5 per cent until 1 January 2024. However, after this date, the rate should increase immediately to 18 per cent.
Authors of the bill in the explanatory note to the document provided a rather bold forecast. According to their calculations, the bill will help to attract an additional UAH 1.27 billion annually to the state budget during 2019–2024.
It is worth noting that neither Ukrainian government nor the National Bank has yet defined legal status and regulation for cryptocurrencies.
“To date, alas, the issue of legal settlement of the cryptocurrency is still open. Many believe that cryptocurrency is illegal, and this is the most common myth. Cryptocurrencies are not officially prohibited at the moment in Ukraine. Thus, it is incorrect to say that cryptocurrencies are illegal, if you follow the rule: “everything that is not forbidden is allowed,” said Pavel Moroz former Deputy Minister of Justice.
It is worth mentioning, that this is not the first attempt to provide tax regulation for cryptocurrencies in Ukraine.
Source: Latest News on European Gaming Media Network
Latest News
SOFTSWISS Wraps Up SiGMA Europe 2024 with Key Achievements
SOFTSWISS has successfully wrapped up its participation in SiGMA Europe 2024. This final major event of the year highlighted the achievements and progress of the iGaming industry over the past months. With a dynamic presence and the award-winning concept ‘Grab Success in iGaming’, SOFTSWISS made a lasting impact over the three action-packed days of the conference.
The SOFTSWISS booth became a nexus for clients, partners, and industry professionals, sparking new connections and fueling discussions on the latest trends. Among the highlights was the unveiling of the iGaming Trends Report 2025, offering a forward-looking analysis of the industry’s trajectory. Positioned as the ‘mother of all conferences’, SiGMA Europe proved the ideal stage for the report’s launch, with all 27,000 attendees able to grant complimentary access to this vital resource.
“iGaming is growing at a rapid pace, and for many, the main challenge is to keep up with this growth. SOFTSWISS takes a much broader view in this regard: it is important for us to understand where iGaming is heading and anticipate trends in order to strengthen our leadership positions,” said Vitali Matsukevich, COO at SOFTSWISS.
Before the expo officially opened, SOFTSWISS was honoured as the Best Platform Provider at the SiGMA Europe Awards 2024. This accolade is a testament to the company’s commitment to delivering robust, innovative technology solutions that empower iGaming operators worldwide.
One of the event’s most highly anticipated discussions, “How to Choose a Secure and Safe Crypto Casino,” featured Vitali Matsukevich among its expert panellists. The session drew a full house, reflecting the high interest in the future of crypto casinos amidst the evolving global economic and political landscape.
During the discussion, Matsukevich shared his deep knowledge and insights on leveraging blockchain technology to ensure smarter, safer choices for consumers in the crypto casino space. His expertise underscored SOFTSWISS’ position at the forefront of innovation in this fast-growing market segment.
SiGMA Europe 2024 provided a platform not only to showcase SOFTSWISS’ accomplishments but also to reaffirm its role as an industry leader. Already preparing for the next major event, ICE Barcelona 2025 in January, SOFTSWISS will once again present its cutting-edge tools and insights to operators worldwide.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Wraps Up SiGMA Europe 2024 with Key Achievements appeared first on European Gaming Industry News.
Latest News
Casino Guru and Mindway AI advance RG self-test game in time for SGW24
The post Casino Guru and Mindway AI advance RG self-test game in time for SGW24 appeared first on European Gaming Industry News.
Latest News
Expert comment: Safer Gambling Week 2024
Safer Gambling Week commentary
As a company focused on generating high-quality, responsible gambling traffic to our operator partner sites, safer gambling is a daily consideration for QiH Group. We recognise Safer Gambling Week as a valuable opportunity to stay engaged with the broader industry conversations and to hear from the community on responsible gambling.
As affiliates are often an initial touchpoint for customers, our priority is maintaining a safe, compliant environment that benefits our partners and, ultimately, their customers.
We believe in supporting a balanced approach where gambling remains what it should be: safe, enjoyable entertainment.
– Andrew Lee, COO, QiH Group
Being a firm of licensing solicitors, one of our principal roles is helping our clients stay compliant with the Licensing Conditions and Codes of Practice, and the licensing objectives, so responsible gambling is something we focus on every day for clients.
It is important that we raise awareness of safer gambling and signpost the professional help and support services that are available to those who need it – ensuring the millions of people who enjoy gambling responsibly continue to do so in a safe environment.
– Nick Arron, Lead Solicitor, Poppleston Allen
The post Expert comment: Safer Gambling Week 2024 appeared first on European Gaming Industry News.
-
Latest News2 months ago
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
-
Latest News2 months ago
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
-
Latest News2 months ago
EGT’s bestseller Bell Link with another great success: Its bells are now ringing in the Czech market
-
Latest News1 month ago
MIRACL partners with Continent 8 to offer its single-step passwordless MFA solution to simplify the login experience
-
Latest News2 months ago
Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE
-
Latest News1 month ago
ACR Poker’s OSS XL Exceeds Guarantee With Over $46 Million In Prize Pools
-
Latest News1 month ago
Match of LeGGends: Double Down. Highlights of the show match between NAVI and Team Vitality
-
Latest News1 month ago
FBMDS and FBM Foundation host solidarity keepy-uppy initiative at G2E Las Vegas 2024
You must be logged in to post a comment Login