RBI is causing crypto hesitancy among Indian banks
India’s crypto tax plan was expected to bolster adoption, but the central bank’s hold on the banking sector puts a check on crypto-related services.
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Pakistani central bank echoes RBI’s concerns over crypto
State Bank of Pakistan (SBP) governor Reza Baqir said in this year’s MASIC Annual Investment Forum that cryptocurrency risks far outweigh their benefits and threaten financial and monetary stability for developing countries. Fast facts The SBP recommended a ban on cryptocurrencies last month, with one of the nation’s largest banks quickly heeding the advice by…
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Warren Buffett invests $1B in Bitcoin-friendly Nubank
Warren Buffett’s Berkshire Hathaway purchased US$1 billion of Brazilian neobank Nubank Class A stock in Q4 2021 while selling billions of dollars of stock in Mastercard and Visa. Fast facts Buffett’s holding company dumped US$1.3 billion and US$1.8 billion from Mastercard and Visa, respectively, according to a Feb. 14 filing with the U.S. Securities and…
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BSN to integrate Neo’s chain to bolster NFT issuance in China
China’s state-backed Blockchain-based Service Network (BSN) announced the addition of Neo’s Jiuquan Chain to its open permissioned blockchain ecosystem to support the legal issuance of non-fungible tokens (NFTs) in the mainland. Fast facts Jiuquan Chain, powered by China-based Neo, will run as one of the 10 BSN open permissioned blockchains, as part of the BSN…
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Russian-linked strains lead crypto ransomware in 2021: Chainalysis
Ransomware revenue in crypto in 2021 has been traced to strains connected to Russia with most of the extorted funds laundered through services that primarily cater to Russian users, blockchain forensics firm Chainalysis reported. Fast facts Around 74% of the over US$400 million worth of crypto ransomware revenue last year was directed to strains that…
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India government, central bank in ‘complete harmony’ on crypto: FM
The Indian government and the Reserve Bank of India (RBI) are working in “complete harmony” and any decision on cryptocurrency will be made jointly, finance minister Nirmala Sitharaman said in a press conference on Monday. Fast facts Discussions on crypto have been ongoing between the government and the RBI — India’s central bank — even…
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Indian exchanges scramble to implement crypto tax by April 1 deadline
Exchanges say the crypto tax was announced without key directives. While exchanges await clarity, they struggle to figure out their role in the tax system.
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Ethereum price expected to hit $7,609 in 2022: report
Ethereum’s price is expected to reach US$7,609 this year, although it is expected to end the year at around US$6,500, according to Australian fintech Finder’s panel of 33 crypto specialists. Fast facts In the long term, the panel predicted that Ethereum’s price will reach US$10,810 by the end of 2025, and US$26,338 by the end…