Remove the 0.1% withholding tax on the revenue from the

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--Bullish

Remove the 0.1% withholding tax on the revenue from the transfer of each transaction in the draft Circular on cryptocurrency tax
Regarding the provisions in Clause 2 Article 4 of the draft Circular on the 0.1% withholding tax on the revenue from the transfer of each transaction, the State Bank believes that the draft currently does not have specific regulations on how to determine the revenue for each transaction of foreign organizations and individuals.
Taking this opinion into account, the Tax Department has removed the content about the revenue of each transaction of cryptocurrency assets specified in Clause 2 Article 4 of the draft Circular. Accordingly, the revenue from the transfer of cryptocurrency assets will follow the general regulations on revenue in the current tax policy.
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Lee Tuann

Bullish

TCEX Representative: 95% of assets will be stored in cold wallets 👇

Regarding technology infrastructure, TCEX has now completed its operational system and is ready to operate at 100%, currently being tested in a real-world environment. The system has the capacity to process about 100,000 transactions per second and can scale according to market demand. The business is also collaborating with international partners in crucial areas such as asset custody and transaction identification, while primarily developing most of the technology infrastructure in-house.

Notably, the issue of asset custody has been emphasized by TCEX's leadership as a core focus in the operational model. Accordingly, all customer assets will be managed completely separately from the exchange's assets. In the initial phase, about 90-95% of assets will be stored in cold wallets, and this proportion could increase to 98% as the market scale grows. Additionally, TCEX implements a multi-layer security key management mechanism, a strict internal approval process, along with backup and recovery scenarios to ensure maximum safety for user assets.

According to: Observer
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.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}Remove the 0.1% withholding tax on the revenue from the transfer of each transaction in the draft Circular on cryptocurrency tax

Remove the 0.1% withholding tax on the revenue from the transfer of each transaction in the draft Circular on cryptocurrency tax