On Sept. 12, French economy minister Bruno Le Maire stated that cryptocurrency-to-cryptocurrency transactions would remain tax exempt, but that France will tax gains when cryptocurrency is converted into traditional fiat currency. Le Maire also stated that value-added tax (VAT) would be assessed on cryptocurrency transactions only when they are used to acquire an asset or service. Implementation of these policies has reportedly begun across the country.

Earlier this week, the South Korean arm of the OKEX exchange announced it will delist five cryptocurrencies that provide heightened privacy features for users. Beginning Oct. 10, the exchange will no longer support trading in Monero, dash, zcash, horizen or super bitcoin. OKEX Korea cited the "travel rule" recommendation by the Financial Action Task Force (FATF), an intergovernmental body that aims to combat money laundering, as the reason for delisting the coins. The exchange explained that under the FATF rule, "it is recommended that exchanges be able to collect relevant information such as the name and address of the sender and recipient of the virtual asset."

In the Philippines last week, local authorities, reportedly working off of a tip from the Chinese government, arrested 277 Chinese nationals under the suspicion that they were conducting a cryptocurrency fraud that targeted potential investors in China. The alleged scam was run through Grapefruit Services Inc., an authorized service provider for Golden Millennial Quickpay Inc. Ltd., an offshore company providing cryptocurrency services.

Also, this week, Australian law enforcement announced that it uncovered a massive identity theft and money laundering ring. The crime syndicate allegedly purchased stolen personal identification information off the darknet, and used it to open bank accounts and steal funds. The syndicate then purportedly laundered the stolen funds by purchasing untraceable assets that it converted into cryptocurrencies, which were then transferred to Australia.

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