Tag: Digital

Russia’s biggest bank, Sberbank, to allow trading of digital assets in June

From June, Sberbank, the biggest bank in Russia, will allow accredited private investors to trade using digital financial assets (DFA). Sberbank to allow trading of DFAs in Russia According to local reports, Sberbank will allow clients to transact using DFA on its platform. However, it should be noted that this offering was slated for the end of Q1 2023 before being postponed to this month. Through this service, Anatoly Popov, the Deputy Chairman of the Board of the Bank, said users would be free to trade using DFA, even exchanging them…

Nigeria to tax crypto, digital assets 10% on capital gains — Experts react

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On the eve of his departure from office on May 28, former Nigerian President Muhammadu Buhari signed the Finance Act, 2023, into law.  The act introduces a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. The comprehensive legislation seeks to enhance fiscal transparency, boost revenue generation and promote economic growth. Recognizing the increasing prominence of digital assets, the act aims to impose a tax on cryptocurrencies. By doing…

Money20/20 decrypts the future of digital payments

In an era of digital transformation, blockchain and cryptocurrencies are disrupting conventional financial paradigms. The latest discussion from Money20/20, a leading fintech forum, brought together Myles Stephenson, founder & CEO of Modulr, Sendi Young, Europe & UK managing director of ripple, and David Birch, director of Consult Hyperion, to elucidate the matter further. Diving headlong into the captivating abyss of technology’s impact on our financial ecosystems, we navigate the uncharted waters of digital payments.  This financial realm, where tradition meets innovation, is amid a paradigm shift. At the helm of…

EU Commission Partners With Blockchain Platform Protokol For Digital Educational Credential Project

The European Commission is making strides towards adopting blockchain technology to transform the verification process of educational and professional credentials across countries. In an effort to achieve this goal, the EU-funded EBSI Vector project has partnered with Protokol, a blockchain solutions provider. The collaboration aims to leverage blockchain technology in developing a credential verification solution. The goal is to simplify the process for EU citizens to have their educational and professional credentials recognized and accepted in different countries. According to Protokol CEO Lars Rensing, the objective of the collaboration with…

USDC Issuer Circle Receives Digital Token License in Singapore

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House Ag Committee looks at digital assets regulatory bill, Dems ask how to pay for it

If there were ever such a thing as an all-star lineup of regulators, the United States House of Representatives Agricultural Committee’s June 6 hearing on digital asset regulation would probably hold the record. The current chair of the Commodity Futures Trading Commission (CFTC) Rostin Behnam was joined by a former chair and a former acting chair of that agency, as well as a former commissioner. Coinbase chief legal officer Paul Grewal also appeared. It was also very long hearing, with Behnam alone speaking and answering questions for over two hours.…

Louis Vuitton Launches Treasure Trunk Digital Collectible Priced at €39,000

Each Treasure Trunk from Louis Vuitton is a soulbound token that opens owners to exclusive experiences and designs. French luxury fashion house Louis Vuitton has launched its iconic travel trunk as a digital collectible in a collection called the VIA Treasure Trunk. The launch is part of Louis Vuitton’s affinity for digital adoption and Web3. The Treasure Trunks are part of Louis Vuitton’s broader “Via” project. Translated from Latin as “road”, Via is the fashion house’s project that offers several products and experiences to a select few. Each Treasure Trunk…

Cboe Digital Bags CFTC Approval to Trade Bitcoin and Ether Futures

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The CFTC has officially given Cboe Digital the approval it needs to offer margined futures contracts trading to clients. Cboe Global Markets’ digital asset exchange has received approval to allow users to trade crypto futures contracts. Customers of the Cboe Digital platform will now trade Ether (ETH) and Bitcoin (BTC) futures contracts later this year following the CFTC’s approval for an amended order of registration. The Commodity Futures Trading Commission (CFTC) gave Cboe Digital approval to financially and physically settle margin contracts from the second half of the year. The…