Yellen said, “It’s not something I would recommend to most people saving for retirement. “On congressional action, I’m not saying I recommend it, but I think it would be a reasonable thing to do.”
Janet Yellen warns against including cryptocurrencies in pension plans due to their risky nature.
United States Secretary of State, Janet Yellen shared his thoughts on a cross-party plan to add crypto to retirees’ wallets. According to her latest statement, she was cautious about the move after calling the assets very risky. She addressed this and many other related topics at her latest event yesterday.
Yellen you are worried about the risk of the assets.
According to relationship, his speech was due to the decision of Fidelity investment add digital assets to your retirement plan. In his statement, Yellen downplayed investment security and warned retired workers don’t approach assets as an investment option.
The discussion also involved other interested parties in the United States, Senator lummis and Warren leading the dialogue. In his statement, Yellen He mentioned that the choice of assets in which retired workers prefer to invest can be regulated by Congress. Although he said he was not calling them to action, it would be reasonable for them to do so.
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Different positions on the subject.
Fidelity allows your customers who prefer to keep their retirement savings in bitcoin can Now take advantage of your program. The Department of Labor warned the company against this. Thus, only a threat of legal sanctions was made. Leaders at the top, including Yellenalso called the way Fidelity plans to eliminate the risks associated with investing in digital assets.
In the same vein, the senator Tuberville announced that retired workers who intend to save their benefits for crypto can do it in Alabama thanks to the Freedom Act. In addition to this, the senator lummis he also pondered a law that will allow retired workers to use crypto.
To go further: Washington is raising the electricity rate for bitcoin miners by 29%.
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The Central Bank of Ethiopia is vigilant against the illicit use of cryptocurrencies.
The National Bank of Ethiopia (NBE) I stated that it does not recognize cryptos with the legal payment method. Additionally, they point out that residents should avoid using them. The bank insists that the birr, the local currency, is the only legal way to settle transactions in Ethiopia.
Their crypto are illegal for business transactions in Ethiopia
In a statement to the state-affiliated media, CFBthe Central Bank of Ethiopia in warned citizens against cryptocurrency transactions “illegal”». He reported that central banks do not recognize any modification of cryptos such as Bitcoin as a means of payment. The NBE I thought virtual currencies were used for informal financial activities and money laundering in the country.
I bring a refers to a statement of NBEwho reminded the locals that the birr remains the only legal tender in Ethiopia.
“The national currency of Ethiopia is the Ethiopian birr, all financial transactions in Ethiopia must be paid in birrs, in accordance with the lol”
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Residents are urged to report crypto transactions.
In other words, Ethiopia did not outright ban cryptocurrencies, more I took a careful approach. However, this practice has not prevented the Ethiopian government from establishing a working relationship with gimbal. In April 2021, the Ethiopian government launched an initiative with Enter exit Global, the company responsible for the blockchain gimbal. This is to create a decentralized digital ID for students and teachers.
However, this did not prevent the NBE to repeat his affirmation. Cryptocurrencies are mainly used in money laundering strategies, according to her. Furthermore, the bank urged citizens to refrain from using cryptocurrencies. The bank also urged residents to report transactions they encountered.
Attitudes towards digital currencies in Africa are already fragmented. in April, The Central African Republicone of the poorest countries in the worldI have adopted bitcoin as a legal entity. Cameroon, the Democratic Republic of Congo and the Democratic Republic of Congo also entered into negotiations with the TON Foundation in April. it related to launch stablecoins Localized who are not interested in central banks.
Also read: Solana has $100 million to support South Korean crypto startups.
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Nubank seeks to democratize cryptocurrencies in Latin America through Nucrypto – Marketing 4 Ecommerce
Interested in posing, trading and investing in cryptocurrencies has grown considerably In recent months, which has led large companies, agencies and banks to take significant steps in this business model.
Under that look, Nubank just announced the launch of the Nucrypto platform. With it, he intends to democratize cryptocurrencies both in his native Brazil and in the rest of Latin America; and thereby eliminate the complexity of the market and make it accessible.
This is Nucrypto, the platform to use cryptocurrencies easily
David Vélez, CEO of the company, explained that this initiative arose from the perceived interest among our customers start using cryptocurrencies to carry out various operations such as buying and selling online, investments, savings and more.
It is worth noting that, initially, the platform will only be available in Brazil and will only operate with Bitcoin and Ethereum.
“Our objective is democratize cryptocurrencies in Brazil and in the restaurant of Latin America. And like other products, Nucrypto was created to remove the complexity of the market and make it accessible to anyone who wants to be part of it, even if you start with a single Real as an investment”Vélez emphasized in his defense.
The growth of Nubank in the Latin American region
Nubank currently has around 59.6 million users. Of this total, 57.3 million are in Brazil (country of origin), 2.1 million in Mexico and 200,000 in Colombia. Its year-on-year growth is 61%.
In the particular case of our country, this digital bank has registered an increase in the customer base of 950% year-on-year up to 2.1 million. This has consolidated it as the number 1 issuer of new credit cards among Mexicans.
2 billion dollars raised
Since its creation, in 2013, Nubank has collected close to $2 billion in financingmanaging to position itself as one of the most valuable digital banks on the planet.
The last recorded round of credit was in the middle of last year (2021) and was led by Warren Buffet’s firm Berkshire Hathaway, a large financial conglomerate that decided to bring 400 million dollars seeing potential in the brand. In parallel, the entity received 250 million dollars from the US company Sands Capital and the Brazilian companies Verde Asset and Absoluto Partners.
“With just a few years in the market, we have been able to democratize access to financial services for 40 million people and revolutionize the entire industry in Latin America to make it simpler, more transparent and more humane. Today we are entering new territories such as investments and insurance, as well as new geographies in Colombia and Mexico”Velez explained at the time.
The reason for its rapid arrival in the country and its accelerated expansion could be attributed to the immense variety of solutions we offer our consumers to carry out operations. In addition to the Nubank card, which allows you to purchase products and services from any point of sale, which differentiates it from other similar fintechs that use prepaid cards.
Image: Capture / America Economy
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The Parliament of Portugal rejects 2 bills on the taxation of cryptocurrencies.
The Portuguese Congress, Assembly given RepublicI rejected two separate bills focused on taxing cryptocurrency transactions. The proposals were made by the left-wing parties Book and to block Left.
Crypto transactions in Portugal remain tax-free
Already in recent weeks, the country’s finance minister, Fernando medinato reveal a government project. The visa project will start impose capital gains tax on profits from digital assets. Without setting a deadline, the politician argued that tax legislation should be adequate and establish justice and efficiency. I also consider that Portugal should follow the example of other countries who have already implemented such policies.
“This is an area in which there is a lot more knowledge. Much more progress so that Portugal can learn from international experiences.”
Two political parties in the country have made proposals on what the fiscal framework should address. You left part Claim that there is a tax that should be levied on those who earn more than 5,000 euros ($5,300) per year of profits thanks to cryptocurrencies.
However, gentlemen of the 2022 budget voting meeting this week, heAssembly given Republic of rejected both proposals. Furthermore, you Socialist Party in power, who holds the majority in the Legislative Assembly, does nota so far filed with a tax invoice.
To discover: The Uruguayan government announces the launch of a campaign against banks based on cryptocurrency.
Portugal has become an attractive destination for Ukrainians
Additionally, you Portugal It has become a cryptocurrency hub. This in part thanks to its friendly stance on the industry. Actually, bitcoin and them altcoins They are all considered debt, and individual investors are exempt from taxes when profiting from the asset class. However, those who owe the cryptocurrencies in a professional or commercial capacity are still subject to certain taxes.
Consistent pair, many Ukrainians seeking refuge after the Russian invasion they run massively in Portugal. Moreover, the country is the fifth largest group of foreigners. Their names have nearly doubled to over 52,000 since the war with Russia.
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