Despite the country’s waning interest in cryptocurrency, Zimbabwe does not appear to be ready to abandon its cryptocurrency aspirations, according to sources. Not only is Zimbabwe not giving up, but it is also taking notes from Nigeria when it comes…
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Blockchain Powered IDs will be used in South Korea by 2024
South Korean citizens will be using digital IDs instead of traditional resident cards as proof of identity by 2024. It will be secured by blockchain technology and will work in tandem with smartphones. This will make it easier to verify…
IRS 2022 Tax Guidelines to Treat NFTs as Cryptocurrencies and Stablecoins
The U.S. Internal Revenue Service (IRS) has provided NFT investors with greater clarity regarding how the assets are expected to be taxed. Same Tax Law For All Digital Assets According to the IRS’s tax year 2022 guide, all “digital assets,”…
China’s Digital Is Now the World’s Most Adopted CBDC
According to a statement from the People’s Bank of China (PBoC), since the pilot program’s start in 2020, transaction volumes for the central bank digital currency (CBDC) have surpassed $14 billion. Through its official WeChat channel, the central bank made…
Iran Plans Launch of National Cryptocurrency to Ditch Dollar in Oil Trade
Tehran is taking action to be able to bypass looming US sanctions by launching a cryptocurrency that would assist the Islamic Republic trade oil even without dollar. “We are trying to prepare the ground to use a domestic digital currency…
UK’s Royal Mint halts plans to launch digital gold token (cites market conditions)
A 1,100 year old UK-based mint has freezed its long-term ambitions to launch a cryptocurrency token that would represent physical gold holdings. According to three unnamed sources familiar with the matter, Royal Mint took the decision after its partnership with…
IRS Clarifies Reporting for Crypto bought with Fiat
The United States IRS has explained that crypto investors who just bought digital assets utilizing fiat and didn’t sell during 2020 don’t have to report said exercises. The United States Internal Revenue Service, or IRS, has refreshed its FAQ segment…
Ripple Responds to SEC Lawsuit: “XRP is not a Security”, XRP Surges Over 35%
The Securities and Exchange Commission filed a lawsuit against the Ripple company, charging Ripple for unlawful sales of XRP. SEC considers XRP as security, charging Garlinghouse and Larsen for selling XRP units in their possession and earning over 1 billion…
Bank of England Governor: Cryptocurrencies Could Be Gone Soon
More crypto skepticism is being seen this week with the governor of the Bank of England throwing salt in the face of all crypto enthusiasts. The head of England’s top bank, Andrew Bailey, believes that crypto currencies are not here…
Reserve Bank of India Now Looking to Unveil CBDC
The Reserve Bank of India has published a booklet with a section speaking exclusively about cryptocurrencies. The central bank through the booklet acknowledged that cryptocurrencies have gained in popularity in the last few years and confirmed that it was exploring…