The Central Bank of Nigeria has barred the use of foreign exchange as collateral for local currency loans. In its April 8 letter addressed to banks, the CBN warned of severe consequences for banks that fail to comply with the latest directive. Halting the Slide of the Naira Hamstrung by ongoing shortages of U.S. dollars, […] Source
In separate filings, Tigran Gambaryan, head of financial crime compliance at the world’s largest crypto exchange, and Nadeem Anjarwalla, regional manager for Africa, urged the Federal High Court in Abuja to order the agencies to release them, return their passports and issue a public apology, Leadership reported, citing the government-owned News Agency of Nigeria. Source
The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of the local currency. The continued volatility of the naira is expected to result in erratic regulation, primarily affecting businesses that hold foreign exchange. Nigeria Presses Ahead With Reforms The Economic Intelligence Unit (EIU) has stated that the […] Source BitcoincryptoexchangeExchanges CryptoX Portal
The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000. After hitting this level, the cryptocurrency faced notable declines in its value. However, a crypto analyst has predicted that the price might continue to surge, highlighting the enduring strength of Bitcoin’s upward momentum. BTC Price Needs To Hold Steady Despite the recent bearish trends seen in the last few days, a prominent crypto analyst, Michael van de Poppe, has maintained an optimistic outlook on Bitcoin’s price. Sharing a BTC price chart, the crypto analyst emphasized…
Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin spot ETFs may violate the existing government stance on virtual assets and the Capital Markets Act.” Last month, FSC Chief Kim So-young…
South Korea’s financial regulator has declared that domestic securities firms are barred from offering spot Bitcoin exchange-traded funds (ETFs) in international markets. South Korea‘s Financial Services Commission (FSC) said in a press release on Jan. 12 that domestic securities firms cannot offer spot Bitcoin ETFs overseas, as it may violate the existing government stance on virtual assets. Despite the ban, the FSC acknowledged the possibility of reviewing its stance on crypto regulation, without providing specific details. As per Korean news outlets, the local securities forms, including Mirae Asset Securities and…
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Sumit Gupta, the co-founder and CEO of CoinDCX, another leading crypto exchange said Indian exchanges, led by BWA, have consistently advocated for a level playing field, particularly in the context of investors migrating to offshore platforms, which are not obligated to implement taxation and 1% TDS. Source BitcoincryptoexchangeExchanges CryptoX Portal
Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs. According to local media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices. Value Partners already offers the only Hong Kong gold ETF backed by physical gold and believes digitizing its precious metal with blockchain technology will only improve accessibility for investors. The move comes after gold hit its all-time high and traded at…
Whether transferring money to family abroad or tipping a tour guide on vacation, Coinbase Wallet lets users easily create a personalized link for any payment amount. Cryptocurrency platform Coinbase aims to make sending money worldwide easier, faster, and more affordable through newly added features. Users can now instantly send funds globally by simply creating a shareable payment link to distribute via messaging apps, social media, or email. The new feature removes the need to exchange complicated bank details or wait through sluggish traditional wire transfers. With a few taps, people…