Fresh clashes along the Thai-Cambodia border are being met with grim resignation by civilians, as they flock again to makeshift shelters still standing from the last bout of combat. Displaced children chased each other on the tarmac of Thailand’s Chang International Circuit race track, where hundreds of families were sheltering in vast silo-shaped tents. “I want the government to deal with this decisively so it stops for good,” said handyman Boonsong Boonpimay at the racecourse in Buriram city, 70 kilometres from the fraught frontier. “Otherwise we’ll have to keep living like this — unable to work and constantly on edge,” the 51-year-old told AFP. Thailand and Cambodia have a long-standing dispute over portions of their boundary dating back to their colonial-era demarcation. Residents rest inside a temple after they evacuated following clashes along the Cambodia-Thailand border, in Siem Reap province on December 9. — AFP Five days of combat in July killed dozens of people and displaced around 300,000 on both ...
Hong Kong has launched a public consultation on adopting the OECD’s crypto account tax data sharing program, CARF, and revising its tax reporting standards. Hong Kong has launched a public consultation on how to implement the international Crypto-Asset Reporting Framework, or CARF, as it moves to bring crypto tax data sharing in line with global standards. According to a Tuesday news release, Hong Kong is seeking input on both the implementation of CARF and changes to tax reporting standards. The announcement explicitly ties the move to the local administration’s efforts to fight cross-border tax evasion. The move constitutes standardization rather than a change of direction by the local government. As the announcement points out, Hong Kong authorities have been annually exchanging financial account information with partner jurisdictions since 2018. Read more
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Japan’s FSA is set to mandate liability reserves for crypto exchanges to boost consumer protection. The new rules are set to change the market. Japan is in the process of introducing significant changes to cryptocurrency regulation following renewed attention to Mt. Gox-related repayment activity in 2024. The Financial Services Agency (FSA) plans to introduce new rules requiring cryptocurrency exchanges to maintain special “liability reserves” to protect customers if their assets are lost due to hacks or unauthorized transfers. The measures aim to bring the cryptocurrency sector closer to the strict standards applied to traditional financial institutions in Japan, one of the world’s most heavily regulated markets. Read more