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A national digital currency would help curb tax evasion in Colombia, which is estimated at up to 8% of GDP, the head of Colombia’s tax and customs agency said. Go to Source Powered by WPeMatico
Bitcoin is working as a hedge against inflation despite its 2022 weak price performance, says Steven Lubka, Managing Directors of Private Clients at Swan Bitcoin Go to Source Powered by WPeMatico
The Philippine central bank sees the potential of crypto to improve domestic and cross-border payments, but the authority is still negative to crypto as a legal tender. Go to Source Powered by WPeMatico
The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary authority intends to gradually connect various financial institutions to the … Read more
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker Confirms Crypto Trading Still Illegal in Iran … Read more
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024. Go to Source Powered by WPeMatico
The monetary authority in Australia is beginning research into the potential economic benefits of issuing a central bank digital currency. Within the project, the regulator hopes to identify use cases and intends to develop a limited-scale pilot. Central Bank of Australia Working on Digital Currency Program The Reserve Bank of Australia (RBA) announced the launch … Read more
The Office of Government Ethics reminded federal agency ethics officers of current law and extended its interpretation of the law to mutual funds. Go to Source Powered by WPeMatico
The central bank of Portugal is now reviewing 12 requests from businesses that want to provide crypto-related services in the country. The applications are pending decision amid recent reports that some commercial banks are closing accounts of already approved operators. Binance Among Cryptocurrency Platforms Seeking Authorization in Portugal Portugal’s monetary authority is currently evaluating requests … Read more
A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the regulator to proceed with its realization. Nepal Central Bank Prepares Legal Ground for National … Read more