Tag: Parliament

South Korean parliament rejects motion to expel lawmaker over crypto scandal

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South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party. A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported on Aug. 30. The subcommittee rejected the proposal on Aug. 29 after the ruling People Power Party (PPP) and the DP divided evenly over the motion in a 3-3 vote. A majority of votes was…

Russian parliament passes a “digital rouble” bill

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The central bank digital currency (CBDC) project in Russia made one large step closer to reality. On July 11, Gosduma, the lower chamber of the Russian parliament, passed a “digital rouble” bill in the third reading. Now the document faces confirmation in the higher chamber and, afterward, the President’s signature.  The bill, the draft for which was last amended at the end of June, sets the legal definitions of “platform, ” participants” and “users”, as well as the general guidelines for the CBDC ecosystem. In the current framework, the Central…

Israel’s parliament moves forward with crypto tax exemption for foreigners

On June 5, a bill proposing exemptions from capital gains taxes on the sale of digital currencies in Israel passed the preliminary reading in the country’s parliament, the Knesset. The bill offers extra tax advantages for people who hold digital assets while clearly distinguishing between crypto assets considered securities and commodities. Clarity on crypto tax If passed, the bill would provide tax relief for the sale of digital currencies and align the taxation of crypto bonuses with stock options for employees. Currently, the tax rate for crypto bonuses stands at 50%, but…

Slovakian parliament votes to approve lower crypto taxes

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Parliament members in the European country of Slovakia voted in approval of lowering crypto taxes, among additional measures affecting cryptocurrency holders.  On June 28 the Slovakian parliament voted to approve an amendment that will reduce personal income tax for profits gained from the sale of cryptocurrencies that have been held by the user for at least a year. The taxes will be lowered to 7%, which is a significant decrease from the current taxation sliding scale of either 19% or 25%. Payments received in cryptocurrencies up to 2400 euros –…

Binance Director Could Be Summoned by Brazilian Parliament over Pyramid Scheme Allegations

This month, the crypto company faced issues with regulators in at least four countries.This month, the crypto company faced issues with regulators in at least four countries. The Director of Binance in Brazil Guilherme Haddad could be called to appear before the Brazilian Parliament. This is because there is an ongoing investigation regarding the crypto company operating a pyramid scheme in the country. Congressman Alfredo Gaspar made the summons, and the vote on this issue will be held on Tuesday, June 27th. One of the major issues this time is…

EU Parliament Passes AI Draft Act to Regulate Growth and Use of Artificial Intelligence Technology

The EU is taking the lead with legislation for artificial intelligence as it passes its AI Act to minimize risks posed by the technology. The European Union (EU) Parliament has passed the EU AI Act to oversee the development and application of artificial intelligence in the region. On Wednesday, Parliament passed the law with 499 votes in favor, 93 abstaining, and 28 votes against. The EU AI Act became necessary as government officials worried that the ongoing explosion of AI development and use could be dangerous. Officials are concerned that…

European Union AI Act passes in parliament

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The European Parliament has passed the EU AI Act, a sweeping legislative framework for governance and oversight of artificial intelligence technologies in the European Union. EU AI act: first regulation on artificial intelligenceThe use of artificial intelligence in the EU will be regulated by the AI Act, the world’s first comprehensive AI law. Find out how it will protect you ⬇️https://t.co/CQqAi7S8lR pic.twitter.com/GzVfIne7tH — Europarl UK (@EPinUK) June 14, 2023 The measure passed in Parliament during a June 14 vote that saw majority support for the act in the form of…

UK Parliament Group Calls for Crypto Tsar, Faster Legislation

In a report published Monday, the Crypto and Digital Assets All Parliamentary Group (APPG) set out that cryptocurrency is here to stay and needs immediate regulation. The group, which includes lawmakers from different political parties and both houses of parliament, made 53 recommendations for regulating crypto in the country. Source

Italian senator provokes parliament with AI-generated speech

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An Italian senator spoke before members of the Italian parliament with — unbeknownst to parliament members — a speech entirely composed by artificial intelligence (AI). In the parliamentary meeting on May 31, Italian Senator Marco Lombardo pulled the stunt to spark a “serious debate” among his colleagues about what’s at stake and in-store from AI usage, according to a local news report. L’intelligenza artificiale può migliorare la nostra vita quotidiana, ma come possiamo garantire che non crei nuove disuguaglianze e divisioni nella società? Il discorso del Senatore @mlombardo81 è stato…