Kenya considers tax on crypto, NFT transfers and online influencers
A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. Go to Source Powered by WPeMatico
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Tokens but not crypto: Nigeria SEC prepares new digital asset rules
Nigeria’s securities regulator will take at least ten months to determine whether to register a digital asset-related company. Go to Source Powered by WPeMatico
Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May
The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital tokens “would be used both as … Read more
Report: Kenya to Start Levying Tax on Revenue Earned by Crypto Exchanges
According to regulations published by the country’s treasury secretary, global crypto exchanges used by Kenya’s estimated 4 million users will start paying a 1.5% tax on revenues earned. Tax-Avoiding Digital Asset Platforms The Kenyan Treasury has said it will start levying taxes on revenues earned by cryptocurrency exchanges used by an estimated 4 million local … Read more
Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an … Read more
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand for the U.S. dollar. Taming High Demand for the US Dollar The Zimbabwean central bank has … Read more
Zimbabwe’s central bank to issue gold-backed digital currency: Report
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency. Go to Source Powered by WPeMatico
Crypto exchange Roqqu receives South African approval to expand operations
Nigerian crypto exchange Roqqu received the green light to operate in South Africa, providing on and off-ramps to South Africa’s Rand currency. Go to Source Powered by WPeMatico
African blockchain ventures outpace global funding growth: Report
Africa witnessed a 429% YoY increase in venture funding in 2022, with the majority of funding coming from Seychelles and South Africa. Go to Source Powered by WPeMatico
Zambia to Complete Testing Real-Life Crypto Usage Simulations by June — Government Minister
Zambia is set to complete real-life crypto usage simulations by the end of June, Felix Mutati, the country’s science and technology minister has said. The Zambian minister said his country is seeking a balance between innovation and consumer protection. Zambia Needs to Build Digital Infrastructure Before It Introduces Crypto According to the Zambian minister of … Read more