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Person holding the Nigerian flag with text overlay: "IMF Backs Nigeria's Crypto Adoption Amid SEC Crackdown"
Markets

IMF Backs Nigeria’s Crypto Adoption Amid SEC Crackdown

The International Monetary Fund (IMF) has thrown its weight behind Nigeria’s adoption of cryptocurrencies, recommending the licensing of global cryptocurrency exchanges. This move aims to address Nigeria's macroeconomic challenges, including currency instability and inflation, while bolstering its position in Africa's burgeoning crypto market​. Nigeria has faced significant economic hurdles, with a notable issue being the discrepancies…
May 21, 20240Comments

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The Governor of the Central Bank of Mauritania and the CEO of G+D shaking hands after signing a digital currency agreement.
Markets

Mauritania and G+D Partner to Develop National Digital Currency

In a significant move towards embracing digital innovation, Mauritania’s central bank, in collaboration with Giesecke+Devrient (G+D), a renowned SecurityTech company, has initiated the development of a digital version of the national currency, the Ouguiya, according to a recently published press release. Announced during the International Monetary Fund (IMF) and World Bank Group Spring Meetings in…
April 27, 20240Comments

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IRS building with digital displays featuring Bitcoin and Ethereum, representing the 1099-DA form for digital asset reporting.
Markets

Understanding the IRS’s New 1099-DA Form: What It Means for Cryptocurrency Taxation

The Internal Revenue Service (IRS) has recently unveiled the first draft of the 1099-DA form, tailored specifically for digital asset transactions. This development is a significant step in the integration of digital assets into the regulatory framework of the financial system, reflecting their growing prevalence. As digital assets increasingly intersect with traditional finance, comprehending the…
April 27, 20240Comments

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