Nigeria has been struggling with a crippling cash shortage since the central bank started replacing old naira notes with new ones late last year. Currency in circulation has slumped to about 1 trillion naira from 3.2 trillion naira in September, Emefiele said, according to Bloomberg. The shortage of notes has BloombergCashclimbENairaNigeriasShortagesTransactionsWallet Read More
Global payment provider Mastercard is launching a stablecoin digital wallet integration with the Australian stablecoin platform Stables.Mastercard and Stables on March 20 announced a collaboration to allow retail customers in the Asia-Pacific (APAC) region to spend their stablecoins anywhere Mastercard is accepted.The collaboration involves a stablecoin-only wallet built by Stables, APACMastercardSettleStablecoinTransactionsWallet Read More
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further BankBitcoinBoostCentralCollaborateCrossBorderCurrencyDigitalIndiaNewsRegulationTransactionsUAE Read More
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found.
$213 Billion Annually
Research and market intelligence firm Juniper Research published a report on central AnnuallyBankBillionBitcoinCentralCurrencyDigitalFeaturedNewsReachResearchShowsTransactions Read More
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s efforts to prevent virtual digital assets “from being ActBitcoinBringsCryptocryptoexchangeExchangesIndiaLaunderingMoneyNewsPreventionRegulationTransactions Read More
Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation.
Binance Prohibits US Dollar and Euro Transactions for Russians on Its P2P BansBinanceBitcoincryptoexchangeDollarsEurosExchangesNewsP2PRussiansTransactions Read More
The proposed Biden budget plan would close the current harvesting loophole on crypto tax losses, reducing wash sales trading.
According to reports, US President Joe Biden’s new budget plan could close tax loss harvesting on crypto transactions. A White House official confirmed that the budget, set to be revealed today, will include a tax BidensBillionBlueprintBudgetChangingCryptoCurrencyPresidentProposeRaisingTaxTransactionsTreatment Read More
While there’s nothing new in imposing anti-money laundering (AML) standards on crypto, it is only now that the Indian government has decided to notify all interested parties of the obligation to comply with the national AML law. On March 7, The Gazette of India published a notification from the Ministry of AntiMoneyBitcoinCryptocryptoexchangeExchangesIndiaLaunderingLawsubjectsTransactions Read More
In 2022, the citizens of South Korea transacted $4.3 billion (5.6 trillion Korean won) through 'illegal' crypto exchanges, according to local sources. The country’s government has been especially attentive toward such money movement amid the tightening regime of licensing. On March 7, the local media published the numbers the Korea Customs BitcoinCryptocryptoexchangeExchangesKoreaSouthTransactionsUnregistered Read More
Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media.
Ukrainians Unable to Trade Crypto Assets Using Cards in National Currency
The world’s largest crypto exchange, Binance, BinanceBitcoinCardCryptocryptoexchangeExchangesHryvniaKunaNewsSuspendTransactionsUkrainian Read More