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BRICS Unified Currency Deemed Premature by Russian Official

BRICS Unified Currency Deemed Premature by Russian OfficialRussia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies for trade. Ryabkov highlighted ongoing efforts to strengthen the bloc’s economic independence, with authorities actively […]

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India Maintains Crypto Tax Regulations in 2024/25 Budget

India Maintains Crypto Tax Regulations in 2024/25 BudgetIndian Finance Minister Nirmala Sitharaman’s 2024-25 Union Budget keeps the existing cryptocurrency tax regulations unchanged, disappointing local crypto advocates. They argue that reducing the 1% tax deducted at source (TDS) is essential for reviving the struggling crypto industry in India. Industry leaders emphasize the need for ongoing dialogue with regulators to foster a supportive environment […]

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EU Council Adopts New Rules for Europe’s Crypto Markets

EU Council Adopts New Rules for Europe’s Crypto MarketsThe Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive legal framework for digital assets like bitcoin. EU Finance Ministers Give Final Nod to Markets […]

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Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk Privacy

Eurozone Finance Ministers Pledge Support for Digital Euro Project, Talk PrivacyThe ministers of finance of the countries in the eurozone reaffirmed their support for efforts to prepare for the potential launch of a digital euro. Meanwhile, the single currency area’s monetary authority sought to reassure future users that the new currency will be “preserving privacy by default and by design.” Eurogroup to Remain Involved in […]

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Despite the Historical Blunders of Price Fixing, European Commission and G7 Pledge to Impose Price Controls

Despite the Historical Blunders of Price Fixing, European Commission and G7 Pledge to Impose Price ControlsWith the global economy looking gloomy and financial trade more restricted than ever before in history, government-mandated prices are seemingly coming back with a vengeance. Europe is suffering from significant financial hardships stemming from the Ukraine-Russia war, and just recently the Kremlin disrupted the European Union’s main gas supplies. Now members of the European Commission […]

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G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Currencies

G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital CurrenciesAny digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted. State-issued coins should also ensure privacy, transparency, and data protection, the officials stated. The forum adopted 13 public policy principles for retail digital currencies and stressed that “CBDCs are not ‘cryptoassets.’” CBDCs Must […]

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G7 Finance Chiefs to Publish Common Rules for State-Issued Digital Currencies This Year

G7 Finance Chiefs to Publish Common Rules for State-Issued Digital Currencies This YearThe G7 finance ministers and central bank governors have met and agreed to work towards common principles for state-backed digital currencies and publish their conclusions this year. They said these digital currencies “could act as both a liquid, safe settlement asset and as an anchor for the payments system.” G7 Setting Common Rules for Central […]

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