The South Korean government plans to tax capital gains on cryptocurrency. According to the local news outlet- The Korea Times, the Ministry of Economy and Finance is pushing for the crypto tax bill to be implemented by next year. “Related discussions have been taking place. The [new] bill will be...
Until now, cryptocurrencies have been additions, rather than substitutes, to the global inventory of money. “Over the next decade, this may change”, according to Deutsche Bank research report. Published this week, the bank predicts that the forces that have held the current fiat system together now look fragile and they...
As per the recent report from brokerage firm Charles Schwab, Millennials hold more bitcoin-tied investment products in their investment portfolio than Netflix, Microsoft stock. The analysis shows of the top 10 investment products, Grayscale’s Bitcoin Trust (GBTC) investment product is the 5th popular choice among millennials. Millennials hold 1.84% of...
[inlinetweet]The US Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin don’t see a need for the digital dollar.[/inlinetweet] In a Financial Services Committee hearing held on 5th Dec, The US Treasury Secretary Steven Mnuchin said that- “Chair Powell and I have discussed this at length- we both agree...
France to experiment with central bank-issued digital currency in 2020. In a conference hosted by ACPR, the Bank of France Governor Francois Villeroy de Galhau said that the central bank will start the test soon for the digital currency. The results of the experiment will be shared before the end...
After continued five years of negative rates imposed by the European Central Bank, some banks in Germany now have passed-on the charge to their retail clients for all their savings in the account. Earlier many banks pass on the ECB’s charges only to large corporations or wealthy clients, and for...
Big tech companies are swiftly planning to move to the financial sector. With Google’s checking accounts to Facebook’s digital currency, the traditional banking system will face direct competition with the tech companies. They may lose ground to the tech companies due to falling behind on digital innovation. However, given the...
Reserve Bank of South Africa is planning to introduce a new rule regarding the use of crypto, in a bid to stop their use to evade currency controls. The rules are expected to be put in place by Q1 2020. Local banks such as FNB have already started clamping down...
The political atlas, as we all know, is divided into two brief categories. One category contains the countries that have reached an incredible level of Human Development Index (HDI) – a compound indicator of life expectancy, education, income per capita, and fertility rates. The populations of such countries, in general,...
A new business area opened up for German banks. Starting in 2020, German banks can sell and have custody of Bitcoin and other crypto-assets. Earlier German banks were not allowed to offer their customers access to crypto assets. Now after the German federal council clearance, banks can provide their customers...
