Month: November 2022

Mastercard Study: African Fintech Sector Had One of the Highest Year-on-Year Growth Rates in Funding in 2021

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In 2021, African fintech startups accounted for 61% of the $2.7 billion in venture capital funding that was deployed on the continent, a new study has found. While its share of global fintech funding is just over one percent, the continent’s fintech sector still recorded one of the highest year-on-year growth rates globally. ‘Record-High Number … Read more

Indian Central Bank RBI Begins First Digital Rupee Pilot Today

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India’s central bank, the Reserve Bank of India (RBI), is launching its first digital rupee pilot on Nov. 1. with the participation of nine banks. “Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk,” said the central bank. RBI’s First … Read more

India’s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms

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India’s tax authority has reportedly asked major cryptocurrency exchanges in the country to provide information pertaining to the coins traded on their platforms. The tax authority is also evaluating the taxability of crypto transactions to determine if the goods and services tax (GST) can be applied to them. Indian Crypto Exchanges to Provide Details of … Read more

Cryptocurrency Markets Trade Sideways After Last Week’s Bullish Run

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Cryptocurrency markets continue to trade sideways this week as Bitcoin and Ethereum manage to hold support. After rising by over 6% this week, Bitcoin is holding support relatively well, with today’s trading volume up over 40%. Let’s look at relevant Bitcoin and Ethereum news affecting prices this week. Key Points: Cryptocurrency markets manage to hold … Read more