The Securities and Exchange Commission (SEC) is imposing a ban on the use of digital assets for goods and services, effective from April 1, citing concerns over the country's financial stability, risks of cybertheft and losses from currency volatility.
Digital exchange operators say they agree with some of the Securities and Exchange Commission's (SEC) proposals to tighten regulations on cryptocurrency advertising, but will need further clarification as criteria for some issues are confusing.
Local digital exchange operators have requested a two-year tax exemption for cryptocurrency trading, claiming the industry needs more time to generate sustainable growth momentum.