Roundup – 19/01/2019 – Wyoming Might Legalize Cryptocurrencies as Money & more

Wyoming Might Legalize Cryptocurrencies as Money

A group of pro-Bitcoin Senators and Represantatives have introduced a bill that seeks to give cryptocurrencies the legal status of money. This would give owners of cryptocurrencies property rights. Banks could offer custody and other services for cryptocurrencies without acquiring special licences. Last but not least the citizens of Wyoming could pay goods and services in Bitcoin without having to worry whether or not they have to pay additional taxes.

Paying With Crypto Debit Cards Legal in Russia

The Russian Deputy Finance Minister Alexei Moiseev stated yesterday that using cryptocurrency debit cards is legal. According to him, there should be no legal impediment of the use of such cards as a merchant receives his payment in Rubel. Currently, crypto payment services convert a specific cryptocurrency first into Dollar or Euro and then to the Ruble. It is basically the same as other payment services that use a digital IOU internally or with other companies to settle payments.

Chile Will Tax Profits on Crypto Investments

Chilean citizens will have to pay taxes on their cryptocurrency earnings for this year. As the government included a section for crypto assets such as Bitcoin and altcoins in its tax file form. This might seem to be a step closer to the legalization of cryptocurrencies in the country. However, the legal status of cryptocurrencies in the country is still unclear. Throughout 2018, many cryptocurrencies had to cope with a ban from Chilean banks. Furthermore, trading cryptocurrencies is still unregulated.