Reports Suggest New Investors Developing Keen Interest In Cryptocurrencies
Many people are skeptical about cryptocurrencies due to the sector’s volatility. But more people in emerging markets are embracing it as a way to make more returns in the long run. No one can argue that investing in cryptocurrencies is very risky, but there’s also no doubt that it offers long-term promises for high ROI. […]
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Over the past few years, it has become abundantly clear that Russia is not a big fan of the Bitcoin concept, to say the least. However, that doesn’t mean the local banks aren’t keeping a close eye on the evolution of blockchain technology. Sberbank has indicated they want to join the growing consortium of banks developing blockchain-based technological solutions. When Russia’s largest bank shows a keen interest in joining a consortium of financial institutions working on blockchain technology projects, things are starting to look more positive than ever in the country. Up until this point,....
The prime minister of Thailand has cautioned investors getting into cryptocurrencies, noting that they are volatile and highly speculative. Recently, interest in cryptocurrencies has soared as young investors in the country discovered that they could make money quickly by investing in cryptocurrencies.
Thai Prime Minister Warns About Crypto Investing
Ratchada Thanadirek, deputy spokeswoman for the Thai Prime Minister’s Office, said Saturday that Prime Minister Prayuth Chan-ocha is worried about people investing in cryptocurrencies, particularly young investors.
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Latest reports from South Africa suggest that the country’s tax agency will now be targeting cryptocurrency investors as it attempts to increase the total value of revenues collected. Alongside high net worth individuals and offshore investors, digital currency holders now constitute an area that is “likely to yield much of the extra tax” for the revenue collector. Crypto Investors Unaware of Tax Liabilities However, according to a report, many South African cryptocurrency holders are “oblivious of the fact that trading in cryptocurrency renders them liable for....
Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning to meet stakeholders in the third week of November. Soraga also explained why such a meeting is necessary. He said: We are seeking views on the matter before deciding whether it is viable or not. You cannot make such a decision without....
However, this news may indicate the Central Bank of Nigeria wants to mimic what Bitcoin brings to the table. The idea of using cryptocurrency in Africa has a lot of merit. With lower transaction fees and global availability, Bitcoin makes for a strong candidate. In Nigeria, the idea has gained a valuable supporter, as the Central Bank of Nigeria shows an interest in cryptocurrency. An exciting future looms for cryptocurrency in the country, albeit specific details are hard to come by. For the time being, it remains somewhat vague as to what the Central Bank of Nigeria aims to achieve. It....