Regulatory Scrutiny Intensifies for Digital Privacy and Crypto Investments
Regulatory Scrutiny Intensifies for Digital Privacy and Crypto Investments
Signal, the privacy-focused messaging app, is contemplating withdrawal from Canada over a proposed lawful access bill threatening end-to-end encryption. Concurrently, Australia's proposed changes to Capital Gains Tax (CGT) could negatively impact long-term cryptocurrency investors and encourage short-term trading, according to industry experts.
Signal's vice president of strategy said the firm “would rather pull out of the country” than comply with Bill C-22, which could threaten end-to-end encryption.
Robin Singh, CEO and founder of Koinly said the changes will hurt low-income crypto investors most and could encourage more short-term trading.