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Currency

Central Banks Worldwide Testing Their Own Digital Currencies

<header class=”article__header”> </header> <strong>Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft …

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China’s official digital currency is nearly ready

Sponsored Links AP Photo/Andy Wong As much as China frowns on cryptocurrency, it’s happy to introduce its own form of virtual cash. The People’s Bank of China has revealed that its digital currency “can now said to be ready” after five years of work. Don’t expect it to mimic crypto, however. According to payments Deputy …

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IRS reminds 10,000 taxpayers that cryptocurrency is subject to taxes

Sponsored Links Sarinya Pinngam / EyeEm via Getty Images By the end of August, an estimated 10,000 taxpayers will receive letters from the IRS warning them that they may owe back taxes on unreported cryptocurrency earnings. While it might not be immediately obvious, you must include cryptocurrency earnings when you file federal taxes. As with …

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The Bank of England will honor Alan Turing on its new £50 note

Sponsored Links Peter Byrne – PA Images via Getty Images The Bank of England has chosen Alan Turing, computing pioneer and a code-cracker during World War Two, to be featured on its new £50 note. Turing contributed significantly to the field of mathematics, but his achievements were not fully recognized during his lifetime as he …

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Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

</header> <strong>Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions …

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City of Dublin Ohio Plans to Launch Bitcoin Cash-Based SLP Token

<header class=”article__header”> </header> <strong>On July 1, Joshua Green, CEO of the Bitcoin Cash (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BCH” target=”_blank” rel=”noopener noreferrer”>BCH</a>) implementation Bitcoin Verde, told the <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BCH” target=”_blank” rel=”noopener noreferrer”>BCH</a> community that the local government from Dublin, Ohio plans to mint a token using the Simple Ledger Protocol (SLP). The unnamed SLP token will be …

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Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation

</header> <strong>Venezuelans are used to their currency costing less than the paper it’s printed on. Economic misfortunes and political upheaval place their country at the bottom of all inflation charts, year after year. The latest incarnation of the national fiat, Bolívar Soberano, has succumbed to the illness of all previous emissions – rapid depreciation. The …

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Russian Banks Join Chinese Swift – Is the Dollar Era Under Threat?

</header> <strong>As a Saudi oil minister once remarked, the Stone Age didn’t end because we ran out of stones. It seems it’s neither the deficit of a tool nor its deficiencies that make it obsolete, but rather the invention of new tools that do the job better. With increasing competition, will the U.S. dollar continue …

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Stablecoins Dominate Currency Pairings for Leading Crypto Assets

<strong>Amidst the ongoing cryptocurrency bear market, stablecoins have continued to gain prominence, with USDT currently comprising the dominant pairing for three of the four largest cryptocurrencies by market cap. </strong> Also Read: Localbitcoins Trade Surges in Latin America and East Asia USDT Comprises Dominant Pairing for 3 of Top 4 Cryptocurrencies by Market Cap According to Cryptocompare, …

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