Russian lawmakers have reportedly passed a bill that will enable the nation to use cryptocurrency in international trade. Reuters reports that the law is expected to take effect in September. Russian Central Bank Governor Elvira Nabiullina says the first crypto transactions will likely happen within the year. The law will only allow businesses to use […]
The post Russia To Permit Use of Crypto for Global Payments Amid Western Sanctions: Report appeared first on The Daily Hodl.
Momint, a Web3 startup, is poised for global expansion after securing a $50,000 grant from the Dfinity Foundation. This Swiss non-profit organization, known for its blockchain R&D, awarded the grant through the Internet Computer Protocol (ICP) Hub of Southern Africa. Momint plans to integrate ICP blockchain technology into its operations, enhancing its global reach and […]
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: South African Ponzi scheme mastermind dies of a heart attack in Brazil, the Argentine House advances crypto tax regularization bill, and Buenos Aires targets Worldcoin with a new bill. South African Ponzi Scheme […]
Johann Steynberg, the mastermind behind a South African bitcoin Ponzi scheme, died of a heart attack while under house arrest in Brazil. A technical analyst predicts a significant surge in Bitcoin’s price, suggesting it could reach $300,000 during the upcoming aggressive phase of the bull cycle. The FBI is cautioning the public against using unregistered […]
A group of economically-aligned nations known as BRICS is reportedly hammering out the details on a new currency designed to drop dependence on the US dollar. South African Ambassador to China Siyabonga Cyprian Cwele says BRICS members will meet this month to discuss the specifics, reports the Chinese state-backed Global Times. On the agenda is […]
The post New Global Currency Designed To Ditch US Dollar, Avert Sanctions Emerging As BRICS Leaders Prepare To Meet: Report appeared first on The Daily Hodl.
The South African Reserve Bank has declared goals for 2025 that it needs to pick up speed on.
The South African Reserve Bank has released a digital payments roadmap toward the goals of its Vision 2025, published six years ago.
Adoption of digital payment technologies in the country has been “sluggish,” the report said. It looked at ways to catch up to the vision, including plans for cryptocurrency and central bank digital currency (CBDC).
South Africa’s financial services sector, especially banking, is well-developed. Despite advances in digital payment technology, South Africans with lower and middle living standards remain disproportionately dependent on cash, the report found. User costs, low financial literacy, limited accessibility and lack of trust hinder progress, however.
Florida Senator Marco Rubio just issued a warning about the growing global economic alliance known as BRICS. In a new article on RealClearWorld, the Republican senator says the recent expansion of BRICS poses a threat to the SWIFT payment system and America’s ability to weaponize the dollar to sanction people and nations. “As of New […]
The post US Senator Issues BRICS Warning, Says Economic Alliance May Damage America’s Ability to Weaponize Dollar appeared first on The Daily Hodl.
The Financial Sector Conduct Authority reviewed 128 applications from crypto service asset providers.
South Africa’s principal financial regulator, the Financial Sector Conduct Authority (FSCA), reviewed 128 applications from crypto service asset providers (CASPs) but intends to discuss only 36 during its next meeting in December.
The numbers were published on Nov.
The fate of all the remaining applications wasn’t specified by the Authority, which explained its evaluation method as the combined assessment of Know Your Customer onboarding, data protection, cyber risk management, conflict of interest management, complaints handling, and credit counterparty risk management.
The FSCA also published its “Crypto Assets Markets Study” for 2023 on the same day, Nov.
Related: Kenyan lawmakers ask local Blockchain Association to come up with crypto bill
According to the survey, the average crypto asset provider in South Africa (46%) has an annual revenue of between 1 and 50 million South African rand ($53,000 to $2.7 million).
The highest monthly transaction value on the South African crypto market was recorded in November 2022, when it peaked at over 8 billion rand (around $427 million).
In July 2023, the FSCA warned that any CASP in the country should obtain a license by the end of the year.
Magazine: This is your brain on crypto.
A former Russian minister says a BRICS currency with unique attributes is nearly ready to launch. In an interview with TV BRICS, Sergey Glazyev says that the currency itself is almost complete, but it still needs support from all leaders of the economic alliance. According to Glazyev, some member nations have already thrown their weight […]
The post BRICS Currency ‘Almost Ready’, Will Be Much More Attractive Than US Dollar, Pound and Euro, Says Ex-Russian Minister appeared first on The Daily Hodl.
Venture capitalist Chamath Palihapitiya says that he has a hard time seeing BRICS nations working together to achieve anything significant. In a new episode of the All-In Podcast, the business magnate says that even though BRICS is made up of economically aligned nations, there are stark differences among them that make any meaningful collaboration seem […]
The post Billionaire Chamath Palihapitiya Calls BRICS Nations ‘Polar Opposites’, Has Trouble Seeing Members Cooperating appeared first on The Daily Hodl.
