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Japan’s Financial Services Agency Includes Crypto in 2025 Tax Proposal
4.9.2024
The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long...
Payments in National Currencies Surge to 92% Among SCO Members
1.9.2024
Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which includes Russia, China, India, and recently added Iran...
The Impact of CBDCs on the Crypto Ecosystem: An Exclusive Guide
31.8.2024
Central Bank Digital Currencies (CBDCs) are rapidly emerging as a transformative force within the financial world. Unlike cryptocurrencies, which are […]
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Hong Kong Regulator Launches Sandbox to Test Tokenized Asset Transactions
29.8.2024
The Hong Kong Monetary Authority has launched a sandbox to test the use of tokenized assets in real-world scenarios. The sandbox aims to promote interbank settlement using tokenized currency and central bank digital currencies. The HKMA will collaborate with other regulators and industry players...
Crypto.com Adds Paypal as Payment Option in US for Crypto Purchases
28.8.2024
Crypto trading platform Crypto.com has integrated Paypal as a payment method for U.S. users to buy cryptocurrencies, enabling transfers between Paypal and Crypto.com wallets. “Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming...
Bank of Russia Eyes Stablecoins for Cross-Border Transactions
27.8.2024
The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing...
Former Russian PM: BRICS Not Ready for Common Currency
27.8.2024
Sergey Stepashin, Russia’s former prime minister, explained that it’s premature to discuss a common BRICS currency, emphasizing the importance of increasing payments in national currencies instead. He cited challenges in creating a common currency, particularly between large economies like...
India's CBDC Has 5M Users, Can be Phased in Gradually: Central Bank Governor
26.8.2024
India's central bank Governor Shaktikanta Das has said that while their retail central bank digital currency (CBDC) pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC
India Expected to Release Consultation Paper on Cryptocurrency Regulations in Coming Months, Report
24.8.2024
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather...
Campaign Advisor Says Harris Will ‘Support Policies’ Promoting Growth of Digital Currencies
22.8.2024
On Wed., Aug. 21, 2024, Bloomberg shared that Vice President Kamala Harris intends to back policies that favor digital currencies. Brian Nelson, a senior advisor for the Harris campaign, told Bloomberg in an interview that if Harris secures the presidency in November, she will “support policies...
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System
20.8.2024
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national currencies (rubles and yuan) due to the risks associated...
Metamask Partners With Mastercard to Launch Crypto-Backed Debit Card in Europe
14.8.2024
Metamask has teamed up with Mastercard and Baanx to launch a debit card that lets users spend their crypto assets directly from their self-custody wallets. Consensys, the firm behind the project, views this new card as a pivotal step in weaving digital currencies into everyday life. Mastercard...
SUI and ZETA Lead the Week’s Crypto Gains, Monero Dips Slightly
12.8.2024
Despite the recent dip in the crypto market, several digital currencies have experienced solid growth over the past week. Leading the pack, SUI saw a 95.6% increase against the U.S. dollar, with ZETA following closely, jumping 71.9% this week. Crypto’s Top Weekly Performers As of 12 p.m....
Putin Signs Law to Advance Cryptocurrency Use in Russia’s International Trade
12.8.2024
Russian President Vladimir Putin has signed a new law to establish experimental legal frameworks to advance digital technologies, particularly cryptocurrencies, in international trade. The legislation allows for the modification of laws to facilitate cryptocurrency transactions, including...
2024 Crypto Rollercoaster: BOME Soars 11,931% as W Slides 84%
11.8.2024
It’s been seven months—or precisely 223 days—since 2024 kicked off, and several digital currencies have experienced impressive gains. Leading the pack are two meme coins, BOME and MOG, which have skyrocketed by 11,931% and 3,733%, respectively, over this period. Crypto’s Year-to-Date Gainers...
Bitcoin Breaks Past the $60K Threshold, Jumps 26% in 3 Days
9.8.2024
On Thursday, bitcoin (BTC) leaped to a high of $62,729, representing a more than 26% jump from its Aug. 5 low of $49,577, recorded just three days earlier. The broader cryptocurrency market, which encompasses over 10,000 digital currencies, saw an 11.29% rise over the past 24 hours, with many...
De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies
7.8.2024
Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a currency when a central bank excessively prints money...
Crypto Market Slump: Key Currencies Drop Amid Rising Trade Activity
30.7.2024
The cryptocurrency market experienced a downturn on Tuesday, decreasing by 1.94% against the U.S. dollar, lowering the total market value to $2.38 trillion. Leading cryptocurrencies, including bitcoin, solana, binance coin, dogecoin, and cardano, faced losses. In contrast, ethereum, xrp,...
Ron Paul Champions Liberty and ‘Competing Currencies’ at Bitcoin 2024
28.7.2024
Ron Paul, former U.S. congressman and well-known advocate for liberty, shared his thoughts on bitcoin and monetary policy during an interview with Bitcoin Magazine editor Pete Rizzo. Paul emphasized the importance of liberty and sound money principles while expressing cautious optimism about...
Stablecoin adoption greater risk for developing nations
26.7.2024
A new report warns that the adoption of global stablecoins in emerging markets and developing economies poses significant financial risks and regulatory challenges