Venezuela is set to discontinue its petro cryptocurrency, a digital asset once heralded as a workaround to U.S. sanctions. The petro will officially cease operations on January 15, six years after its inception, as confirmed by recent reports. Launched in 2018 by President Nicolas Maduro, the petro aimed to bolster Venezuela’s economy, reeling from sanctions […]

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BlackRock, the investment giant, is poised to streamline its workforce, with plans to let go of approximately 3% of its employees, translating to 600 staff members. The decision aligns with the firm’s strategic adjustments and performance evaluations over the previous year. In the financial community, all eyes are on the imminent decision from the U.S. […]

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Coinbase is charting a new course in the European Union’s financial landscape. The renowned digital currency platform is set to broaden its product palette with regulated derivatives, stepping into the competitive arena against the likes of Binance and Bybit. In a strategic move, Coinbase has announced its acquisition of a Cyprus-based entity, a move that aligns with […]

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In the burgeoning digital economy, Kyrgyzstan is emerging as a contender in the crypto mining sector, with tax revenues showing a promising increase. The nation’s Finance Ministry reports a collection of 78.6 million soms (approximately $883,000) from the industry within the first 11 months of 2023. Despite the fluctuations in monthly tax income, with a peak in August […]

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The investment community is abuzz with the latest development in the cryptocurrency sphere—the introduction of spot Bitcoin ETFs. VanEck’s Gabor Gurbacs advises caution, tempering expectations of an immediate surge. The initial infusion, he suggests, may be modest, with estimates of a mere $100 million, predominantly from existing institutional funds. Yet, Gurbacs casts an optimistic vision […]

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Japan has revised its tax laws to foster a more crypto-friendly business environment. Starting April 1, 2024, coinciding with the onset of the fiscal year, Japanese companies will experience a significant shift in how they are taxed on cryptocurrency assets. Corporations will now be taxed solely on profits realized upon the sale of cryptocurrency, aligning with the […]

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In a strategic move, President Recep Tayyip Erdoğan has infused fresh expertise into Turkey’s central banking system by appointing Professor Fatma Ozkul, a renowned academic in the realm of digital finance, to the Monetary Policy Committee. With her tenure commencing at Marmara University in 2012, Ozkul’s portfolio boasts a deep dive into the intricacies of blockchain and cryptocurrency. […]

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A coalition of leading Nigerian banks has announced the launch of the cNGN stablecoin, a digital currency pegged to the Nigerian naira. This strategic initiative aims to enhance the country’s financial system by integrating the benefits of blockchain technology. The cNGN is not just a digital currency but a bridge to the future of finance […]

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Palau is taking a significant step forward in its digital financial landscape by launching the second phase of the Palau Stablecoin (PSC) program. Announced on December 15 by Jay Hunter Anson, a cybersecurity advisor to the Ministry of Finance, this phase is set to refine the nation’s digital ecosystem and bolster user engagement, with a […]

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The National Bank of Kazakhstan has successfully completed a month-long trial, showcasing the versatility of the digital tenge across various applications, from facilitating free lunches for schoolchildren in Almaty to the tokenization of gold. This innovative currency has been integrated seamlessly into the daily lives of citizens, thanks to the collaboration with local banks and global payment giants Visa and […]

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