New Zealand to enforce OECD tax reporting frameworks by 2026

    coingeek 2024-09-02 31152 views Trending
    New Zealand plans to implement the Organisation for Economic Co-operation and Development’s (OECD) digital asset reporting framework by April 2026, according to a recently released tax policy document.

    WEF offers steps for MENA to forge ‘intelligent economies’

    coingeek 2024-08-30 31414 views AI
    The World Economic Forum (WEF) has unveiled four strategies for the Middle East and Africa (MENA) to embrace and develop intelligent economies in a rapidly changing world.According to the WEF report, the MENA region faces many economic challenges that can be solved by leveraging digitization. The region has to integrate artificial intelligence (AI), the Internet of Things (IoT), and blockchain systems into every facet of their local economies.

    India’s CBDC has 5M users, RBI in ‘no rush’ to launch it

    coingeek 2024-08-29 74436 views Trending
    ​India’s central bank digital currency (CBDC) now boasts over 5 million users and 16 participating banks in the pilot phase, but the Reserve Bank of India (RBI) is in no rush to launch it publicly.

    Telegram founder’s arrest slammed by darknet market fans

    coingeek 2024-08-28 49392 views Trending
    The arrest of Telegram Founder/CEO Pavel Durov could have dire implications for the messaging platform’s crypto-savvy criminals.

    IDC guide predicts worldwide AI spending to reach $632 billion by 2028

    coingeek 2024-08-27 54972 views Trending
    A new report from the International Data Corporation (IDC) has predicted a sharp rise in global artificial intelligence (AI) spending in the coming years driven by a combination of factors for the emerging technology.

    Is BRICS about to announce a gold-backed currency?

    coingeek 2024-08-26 55959 views Trending
    Back in July, BRICS announced the intention to create a new payment system to rival SWIFT and further the bloc’s stated goal of de-dollarization.While the exact details of how the system works are not yet confirmed, Former Russian Ambassador to the USA Yury Ushakov made public statements confirming it would use cutting-edge digital technology, including blockchain. He called this an “important goal for the future.”

    Ghana issues draft digital asset guidelines

    coingeek 2024-08-23 63877 views Trending
    ​Ghana’s central bank has published new draft guidelines for the digital asset sector, requiring all virtual asset service providers (VASPs) to obtain licensing from the country’s securities watchdog before serving investors.

    Nigeria’s Lagos state targets real estate tokenization to boost revenue

    coingeek 2024-08-22 32788 views Trending
    ​Nigeria’s Lagos state plans to tokenize real estate to enable more retail investors to purchase property and boost the state revenues.The state’s ambitious plans were revealed by local media outlets and are expected to be laid out at the Eko Revenue Summit 2024, which kicks off on September 25.

    Tokenized deposits gaining traction in India, central bank says

    coingeek 2024-08-21 60727 views Trending
    ​India’s growing adoption of blockchains and distributed ledger technology has bolstered support for tokenized deposits or digital representations of traditional bank deposits hosted on a secure blockchain, according to the Reserve Bank of India (RBI).

    California waters down AI safety bill to appease industry opposition

    coingeek 2024-08-20 67722 views Trending
    ​California lawmakers have amended a bill that would hold artificial intelligence (AI) firms accountable for the harm caused by their products after the original draft received significant opposition from the industry, including AI firm Anthropic.

    Replacement of bank deposits by CBDC an area of key interest for deposit insurers: RBI

    coingeek 2024-08-19 34661 views Trending
    Deposit insurers or lenders that provide insurance to depositor funds against bank failures should take an interest in the degree of replacement of bank deposits by central bank digital currencies (CBDCs), according to the Reserve Bank of India (RBI).

    India has no plans to regulate digital asset sales or purchases

    coingeek 2024-08-16 32631 views Trending
    ​The Indian Ministry of Finance revealed it has no immediate plans to regulate the sale and purchase of digital assets. However, the country continues to tighten oversight on digital asset-related money laundering and terrorist financing.

    Philippine finance chief urges tax bureau to drive revenue growth through digitalization

    coingeek 2024-08-15 49287 views Trending
    The Philippines’ Department of Finance (DOF) Secretary Ralph Recto has underscored the critical role of the Bureau of Internal Revenue (BIR) in ensuring the government meets its fiscal targets, emphasizing that sustained improvements in revenue collection are essential for economic growth and national development. Speaking at the BIR’s 120th anniversary earlier this month, Recto highlighted the importance of digitalization in achieving these goals.

    Hong Kong’s digital banks urged to improve services for Web3 firms

    coingeek 2024-08-14 49759 views Web3
    ​Virtual banks in Hong Kong have been charged to improve the scope of their services to Web3 companies in the city-state following a raft of regulatory support directed into them over two years.

    AI in renewable energy to reach $4.6 billion by 2032: report

    coingeek 2024-08-13 54599 views AI
    As artificial intelligence (AI) continues to grow exponentially, new sectors are embracing emerging technology to improve industry productivity, with one report touting that renewable energies will ride the way.

    Reserve Bank of India plans ‘delegated payments’ through UPI

    coingeek 2024-08-12 55860 views Trending
    ​The Reserve Bank of India (RBI) plans to introduce a facility of ‘delegated payments’ in the Unified Payments Interface (UPI) to boost digital payments in the country. The initiative will allow multiple users to make transactions from a single primary bank account up to a limit.

    Slovenia issues inaugural digital bond in EU via BNP Paribas

    coingeek 2024-08-09 67044 views Trending
    ​Slovenia launched a $30 million digital bond at the tail end of July, joining an exclusive group of nations that rolled out their versions of the assets.The issuance is the first sovereign digital bond in the EU and could set further issuances in the coming months. Operating as a short-dated digital bond, Slovenia’s government tapped BNP Paribas for issuance with the bank, providing book-running and coordinating services.

    Reserve Bank of India: CBDCs may reduce availability of cash deposits with banks

    coingeek 2024-08-08 60666 views Trending
    ​While central bank digital currencies (CBDCs) can open up a world of new opportunities, they can also reduce bank deposits, affecting the credit-creating capacity of commercial banks.

    Hong Kong must accelerate the development of Web3, lawmaker says

    coingeek 2024-08-07 44621 views Web3
    ​A Hong Kong lawmaker has pledged the city-state’s commitment to accelerating the development of the Web3 ecosystem amid a renewed global digital asset push led by United States presidential candidate Donald Trump.

    UAE establishes new charter to ensure safe AI usage, equality

    coingeek 2024-08-06 76597 views AI
    ​Keen to improve its global artificial intelligence (AI) standing, the United Arab Emirates has announced a new charter for the technology to protect the interest of consumers within its borders.

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