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...
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...
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...
Europe is planning to build an improved instant payment system to overcome the dominance of US-based payment providers such as Visa, Mastercard, PayPal, etc in Europe. To overcome this threat, the European central bank (ECB) aims to roll out a pan-European instant payment by the end of 2021. Source: Reuters....
TransferGo, a digital remittance solution for migrant workers is looking to move to Ripple’s On-Demand Liquidity (ODL) payment platform. Ripple’s On-Demand Liquidity (ODL) platform leverages XRP cryptocurrency as a bridge for cross border payments. In 2018 TransferGo partnered with Ripple to help Indian migrant workers send money from Europe to...
The collapse of Lehman Brothers in 2008 triggered the global financial crisis. To combat, central banks cut the interest rates to near zero. A decade later, interest rates still remain low in most countries. With no room to further cut rates, some central banks have implemented unconventional policy measures, a...
Bakkt prepares to offer cash-settled bitcoin futures. Bakkt announced the development in a press release issued on Nov 21st. The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which is regulated by the Monetary Authority of Singapore. Bakkt wants to set itself apart...
