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From Likes to Ledgers: The Financial Revolution of Social Media and Cryptocurrency
The direct integration of cryptocurrency into social media platforms is set to revolutionise global finance, offering unprecedented access to financial services. With substantial user bases and advanced anti-fraud measures, these platforms can democratise financial offerings, especially in developing countries. As social media becomes increasingly integral to daily life, successful models like TikTok and WeChat highlight the potential of merging blockchain payments with social interactions, signalling a transformative era for global finance. Source: https://internationalfinance.com/technology/top-crypto-social-media-platforms/ Traditional banking systems often grapple with inefficiencies such as high fees, slow processing times, and limited access for the underbanked. These issues create barriers for individuals and...
Naira Continues to Appreciate at Official Market
Naira Against Dollar Naira Continues to Appreciate at Official Market The naira has continued to strengthen on the official trading window, the Nigerian Autonomous Foreign Exchange Market, as the Central Bank of Nigeria launched the new Electronic Foreign Exchange Matching System this week. According to data on the CBN website on Thursday, the naira closed trading at 1,567/$ compared to the closing rate of Wednesday which was 1,608/$. This marked a steady strengthening from Monday when it closed trading at 1,660/$ from 1,663/$ in the previous trading session. On Tuesday, the naira closed at 1,625/$. In the parallel market, the...
Putin Signs Law Declaring Crypto as Property in Russia
Russia officially declares cryptocurrency as property, unleashing groundbreaking tax rules: mining exemptions, progressive income taxes, and steep corporate levies starting in 2025. Crypto Officially Property in Russia After Putin Signs Landmark Law Russian President Vladimir Putin has signed a law officially designating digital currencies as property, laying the groundwork for taxation and regulation within the sector. Announced on Nov. 29, the law recognizes digital currency for foreign trade transactions under an experimental legal framework, marking a significant shift in Russia’s approach to cryptocurrency oversight. Under the new law, mining and selling digital currencies are exempt from value-added tax (VAT), and...
