News September 22 Mon

 

Today’s top crypto news and market insights

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UAE Aligns Digital Asset Policies with Global Tax Standards

According to Cointelegraph, the United Arab Emirates (UAE) has taken a significant step towards aligning its digital asset policies with international tax standards by signing the Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF). This agreement, announced by the UAE’s Ministry of Finance (MOF), formalizes the country's commitment to implementing the Organisation for Economic Cooperation and Development’s (OECD) global regime for digital asset reporting. CARF establishes a mechanism for the automatic exchange of tax-related information on crypto asset activities among participating jurisdictions, enhancing international cooperation on transparency and tax compliance. The UAE plans to implement this framework in 2027, with the initial exchange of information expected to commence in 2028. In preparation for this, the UAE has launched a public consultation to gather feedback from industry stakeholders, including exchanges, custodians, traders, and advisory firms. This consultation began on September 15 and will conclude on November 8. The UAE joins 50 other jurisdictions committed to implementing CARF, paving the way for a global approach to crypto tax reporting. Countries such as New Zealand, Australia, and the Netherlands have also pledged to adopt the framework. Additionally, Switzerland has advanced its plans to automatically share crypto-related tax data with 74 partner countries, including most G20 nations, following the adoption of a relevant bill on June 6. In a related development, South Korea has finalized its agreement to implement CARF, as reported by local media outlet Nate on September 2. The country's National Tax Service will collaborate with local crypto exchanges and international organizations to automatically share tax information. Beyond participating in the global information exchange framework, South Korea has intensified efforts to address tax evasion involving crypto assets. On August 17, authorities in Jeju City took action to freeze and seize crypto assets from users suspected of evading tax obligations. This move underscores the growing global trend of integrating digital asset activities into existing tax compliance frameworks, reflecting a broader commitment to enhancing transparency and accountability in the rapidly evolving crypto landscape.
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BitMine Immersion Technologies Announces Significant Stock Offering

According to BlockBeats, BitMine Immersion Technologies (BMNR) has entered into a securities purchase agreement with an institutional investor. The agreement involves a registered direct offering of 5,217,715 shares of common stock at $70.00 per share, along with warrants to purchase up to 10,435,430 shares of common stock at an exercise price of $87.50 per share. The company anticipates gross proceeds of approximately $365.24 million from this offering, before deducting placement agent fees and other estimated issuance expenses. If all warrants are exercised in cash, the potential future gross proceeds could reach approximately $913 million, bringing the total potential proceeds from the common stock issuance and warrant exercise to about $1.28 billion. Tom Lee, Chairman of BitMine, stated that the stock was issued at a 14% premium over last Friday's closing price, raising $365.24 million at $70 per share compared to the closing price of $61.29. The primary use of the funds is to increase holdings in Ethereum (ETH), which is expected to add significant value for existing shareholders. The 14% premium reflects strong interest from institutional investors in BitMine's strategy and confidence in the company's execution capabilities. Feedback from institutional investors indicates that BitMine remains the only large-cap U.S. stock offering direct investment in Ethereum. The offering is expected to close around September 23, 2025, subject to customary closing conditions. Moelis & Company LLC is acting as the exclusive placement agent, and Winston & Strawn LLP is serving as legal counsel to BitMine.
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Crypto News: UAE to Enforce Crypto Asset Tax Reporting Rules From 2027

Key Points:UAE Ministry of Finance signed the Crypto-Asset Reporting Framework (CARF) multilateral agreement.New crypto asset tax reporting rules will take effect in 2027.International information-sharing with tax authorities to begin in 2028.An eight-week industry consultation is now open for feedback from crypto service providers.The United Arab Emirates (UAE) is set to introduce crypto asset tax reporting requirements in 2027, marking a major step in aligning with international financial transparency standards.According to Wu Blockchain, the UAE Ministry of Finance has signed the Crypto-Asset Reporting Framework (CARF) multilateral agreement. Under the plan, the UAE will begin implementing the new rules in 2027, with the exchange of transaction data with global tax authorities starting in 2028.As part of the rollout, the Ministry of Finance launched an eight-week consultation period on September 15, inviting crypto exchanges, custodians, and service providers to provide feedback on how the rules may affect compliance, reporting, and business operations.The move places the UAE among the growing number of jurisdictions adopting OECD-driven crypto tax transparency standards, aimed at curbing tax evasion and improving oversight of cross-border digital asset flows.Analysts say the decision underscores the UAE’s dual strategy: fostering a crypto-friendly business hub while aligning with global regulatory expectations to strengthen its international credibility.
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