The CEO and co-founder of neo-bank Canza Finance claims that utilizing Baki for FX trades in Africa creates a hub for African businesses to participate in intra-African and FX trades at reduced cost. Forex liquidity and currency swaps are hard to access for many in Africa, which limits the use of dollar-based services in the…
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The new rules would make income from crypto held on exchanges outside Brazil taxable at the same rate as local income. Brazilians may soon be required to pay up to 15% tax on income derived from cryptocurrencies held on exchanges outside the country, after new income tax rules were approved by the Brazil Senate on…
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Due to UAE’s National Day, Phoenix Group’s public trading launch on the Abu Dhabi Securities Exchange has been moved to Dec. 5, 2023. Cryptocurrency mining firm Phoenix Group is preparing for its public trading launch after seeing a significant oversubscription during the pre-market sale on Nov. 21. Phoenix’s public trading launch will be delayed as…
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The requests for public comment are standard for ETFs under review and have an open period of 35 days. The United States Securities and Exchange Commission has announced the next steps in its consideration of the proposed Franklin Templeton and Hashdex spot Bitcoin (BTC) exchange-traded fund (ETF) bids. The agency has requested written comments on…
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Hong Kong clients will be able to purchase Bitcoin and Ether in their personal accounts. Interactive Brokers, one of the largest brokerage firms in the world, has opened crypto trading for retail clients in Hong Kong. According to the Nov. 28 announcement, the service is offered in conjunction with OSL, one of the first crypto…
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Crypto experts are flocking to unlisted AI crypto project yPredict as its presale funding momentum points to the potential for outsized growth. Image by Fareed Mindalano, DALL-E 3. The AI-driven cryptocurrency project yPredict has rapidly gained attention as its native token presale recently surpassed $5 million in funding. Already in its final stage priced at…
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Authorities in Hong Kong confirmed 145 users were scammed on the unlicensed crypto exchange Hounax, resulting in $18.9 million of lost funds. Hong Kong authorities reported on Nov. 27 that 145 users were affected in a scam by the unlicensed cryptocurrency exchange Hounax, resulting in a loss of 148 million Hong Kong dollars ($18.9 million),…
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The Financial Stability Board suggested the crypto industry might still require additional regulatory measures to prevent another FTX-like situation at the hands of crypto service providers. The Financial Stability Board (FSB), the global body that monitors the financial services indreleased a report on Nov. 28 asserting that the crypto industry might need additional regulations to…
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The crypto industry can stop the so-called Cantillon Effect from occurring by establishing large enough “Bitcoin only” companies that will sit on the negotiating table with the U.S. Federal Reserve and major financial institutions, Swan Bitcoin’s Terrance Yang has said. According to Yang, the U.S. Department of Justice’s settlement with Binance has increased the likelihood…
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The global cryptocurrency exchange and Web3 service provider launched a local exchange and Web3 wallet in Brazil as the country continues its competitive crypto streak. The cryptocurrency exchange and Web3 developer OKX announced the expansion of its services for users in the Brazilian market with a local crypto exchange and Web3 wallet platform. On Nov. 27,…
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