Bitcoin Usage in Nigeria Surging Despite Govt. Caveats

The Central Bank of Nigeria (CBN) has warned that bitcoin and digital currencies are not legal tenders but Nigerians don’t seem to care.  Bitcoin Adoption Rising Despite Apex Bank, Senate Warnings In its December 2019 edition of ‘The Nigerian Banker’, the Chartered Institute of Bankers of Nigeria (CIBN) highlighted how bitcoin is booming in Nigeria, despite the central bank’s anti-crypto stance. As per its report on digital currencies: The CBN has also declared that digital currencies are not legal tender with naira as the sole legal tender. There are concerns…

Korean Government to Tax Crypto Capital Gains from 2020

The Korean government is preparing legal tools to tax capital gains from the sale of crypto assets. Specialized legislation to target digital asset deals is expected to arrive from the tax season for 2020. Korean Authorities Hope to Tax Crypto Capital Gains Until recently, Korea was one of the most active markets for crypto speculation. But there was no direct framework to tax capital gains from the sale of digital assets, reported The Korea Times. The Ministry of Economy and Finance is working on building the measure that will become…

Sunday Digest: Bitcoin, Banks And Bananas

An art lover who paid $120,000 for an installation of an over-ripe banana duct-taped to a wall, had his investment eaten by a performance artist. One hopes that if he has that much money to ‘waste’ on what is now just a banana skin with some tape stuck to it, he’s already filled his bags with bitcoin. Bitcoin Price: Where Next? Bitcoin markets had a fairly uneventful week, with BTC price trading largely sideways, albeit with a few gentle ups and downs. The bigger question on seemingly everybody’s lips was just…