UN Report Urges Fed to Suspend Interest Rate Hikes, Presses for ‘Public Spending’ Increases

By | October 4, 2022

The United Nations Conference on Trade and Development (UNCTAD) has warned that the U.S. Federal Reserve’s interest rate hikes and the slew of other central banks raising rates, could pose harm to the global economy. UNCTAD calculated that for every Fed basis point rise, the economic output of wealthy countries declines by 0.5%, and for… Read More »

Report: Nigerian Central Bank Targets Tenfold Increase in Number of CBDC Users, Governor Says Use of Cash Will ‘Dissipate to Zero’

By | August 23, 2022

Despite the apparent slow embrace of the e-naira digital currency by Nigerians, the Central Bank of Nigeria governor has said his institution is targeting a tenfold increase in the number of users of the digital currency in the next twelve months. The governor predicted that the use of cash will “dissipate to zero” while the… Read More »

Report: Terror Groups Using South African Financial System to Move Funds

By | July 28, 2022

Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused of facilitating the transfer of funds to African terror groups. Millions of Dollars Laundered… Read More »

Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

By | May 29, 2021

Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers to report profits and losses from their cryptocurrency transactions. Tax Office… Read More »

Depends on Who You Ask: Report Shows NFT Sales ‘Cool Off,’ Another Study Says ‘Market Set to Double by October’

By | May 22, 2021

In 2021, the non-fungible token (NFT) ecosystem has grown massively and data shows during the last month, there have been 98,832 NFT sales across over 32,000 active wallets. Monthly statistics show $272 million in recorded NFT sales have taken place but a recent report shows the NFT market is starting to “cool off” as NFT… Read More »

US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS

By | May 20, 2021

The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more than $10,000 to report transactions to the IRS. Treasury… Read More »

Report: Over 100,000 African Youths Have Participated in Binance’s Crypto Education Initiative

By | May 20, 2021

According to reports, over 100,000 African youths have taken part in Binance’s crypto and blockchain education barely a year after the learning program was launched. Dubbed the Binance Masterclass, the education initiative is aimed at equipping newcomers with basic knowledge about cryptocurrencies. Also, as one report explains, the initiative seeks to stop young African traders… Read More »

Indian Government to Set up Panel of Experts to Take a Fresh Look at Regulating Cryptocurrencies: Report

By | May 20, 2021

The Indian government is reportedly looking to form a new “panel of experts” to focus on ways to regulate the cryptocurrency industry in the country. “There is a view within the government that the recommendations made by Subhash Garg are dated and a fresh look is needed at use of cryptos rather than a total… Read More »

Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out

By | December 1, 2022

A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating customer assets from company funds for… Read More »