Bitcoin Archives - AfricaBusiness.com

₿trust Acquires African Bitcoin Developer Training Company, Qala

5Sep

By Africa BusinessNo Comments

Fintech

₿trust Acquires African Bitcoin Developer Training Company, Qala

Jay-Z and Jack Dorsey-funded Bitcoin Non-profit Acquires Qala to Build Next Generation of Open-Source Bitcoin Developers ₿trust, a non-profit organisation which exists to decentralise development of Bitcoin software, has today announced its acquisition of Qala, the leading organisation training the next generation of African Bitcoin and Lightning engineers. The deal, which was completed on 1st September 2023, will see Qala rebrand as the ₿trust Builders Programme, to strengthen ₿Trust’s mission to drive the development and education of Bitcoin open-source engineers from across the Global South. Launched in 2021, ₿trust focuses on fostering developer talent and supporting the free and open source Bitcoin ecosystem by locating, educating, and remunerating Bitcoin open source engineers from...

15Dec

By Africa BusinessNo Comments

Fintech

Where Can I buy Bitcoin with Cash?

By Erick Pendo Bitcoin was the world's first decentralized digital currency. It was created in 2008 and has since become a popular form of digital payment that allows both buyers and sellers to securely store “money”, and send and receive payments without the need for an intermediary bank or other financial institution. Bitcoin transactions are verified through an open, public ledger known as blockchain that is secured with cryptography. This makes it virtually impossible to double spend, counterfeit or manipulate digital currency. With Bitcoin, users can buy goods and services online or transfer funds directly to others in minutes. How can you acquire Bitcoin? Bitcoin is an attractive payment option for people who want to remain anonymous, transfer money quickly and securely, or bypa...

Crypto assets: Are you prepared for the taxman?

1Sep

By Africa BusinessNo Comments

Fintech, South Africa News

Crypto assets: Are you prepared for the taxman?

South African taxpayers must realize that the time to regularise their cryptocurrency assets with the South African Revenue Service (SARS) has come, says Diane Seccombe, National Head of Taxation at Mazars. “While tax compliance in the crypto space has been a murky area until now, SARS and the South African Reserve Bank (SARB) have followed other international jurisdictions in developing stringent regulatory frameworks for this burgeoning segment of the market, with much focus on transparency,” Seccombe says. Now, there is no longer any doubt that taxpayers are required to disclose their crypto assets – including purchases, current holdings, and disposals – as part of their statements of assets and liabilities. From a tax perspective, cryptocurrencies are not regarded as currencies, but...

2Jul

By John BrooksNo Comments

Fintech

Should You Still Buy Bitcoin at $35,000?

The bitcoin market has been on a downward trend over the last month. Bitcoin has dropped almost 50% from its all-time high of 46 lakhs in three months. The drop has divided investors into two camps: those who are rushing to sell to avoid losses, and those who are holding their investment with optimism for the future. To buy bitcoin with mobile money might seem like a risky task now since Bitcoin is at a low, but it might slingshot to heights it has never reached before. Despite the massive drop in Bitcoin and other major cryptocurrencies, the cryptocurrency industry is not in a terrible state. Stocks to Watch in Cryptocurrency fall This year, cryptocurrency values have skyrocketed. Cryptocurrency bellwether Bitcoin has almost quadrupled year-to-date to over $60k as of the end of last week...

7Apr

By Prenisha GovenderNo Comments

Fintech, South Africa News

South Africa: The South African revenue service joins the global rise of crypto-wars

By Prenisha Govender, Associate and Keketso Kgomosotho, Candidate Attorney, Tax Practice, Baker McKenzie Johannesburg. The growing popularity of cryptocurrencies worldwide, which is increasingly leading to its stronger footing in international business, has awakened tax authorities everywhere to a possible new revenue stream from unreported gains. Over recent years, we've seen a marked increase in crackdowns on cryptocurrency traders - all the way from the Internal Revenue Service (IRS) in the United States (US) to Her Majesty's Revenue & Customs (HMRC) in the United Kingdom (UK), and now the South African Revenue Service (SARS). It was only a matter of time until SARS joined the party, given that in terms of both market value and volume, South Africa is reported to be one of the top t...

Dubai’s IBC Group to partner with ARTIFI, pledges 10,000 Bitcoin to empower women artists globally through digital tokenization of artwork

3Feb

By Neha KaulNo Comments

Art, Fintech

Dubai’s IBC Group to partner with ARTIFI, pledges 10,000 Bitcoin to empower women artists globally through digital tokenization of artwork

Dubai’s IBC Group has announced that it will partner with the Artifi Collection, an exclusive art gallery based in Canada that promotes the work of women artists and indigenous communities, to create Blockchain-based tokens that allow artwork to be sold and traded. The initiative aims to financially empower artists from around the world, through a mechanism that allows them to monetize their portfolio using Non Fungible Tokens (NFT). Reshmeen Hooda, Co-Chairperson of Dubai’s IBC group, has announced that her group of companies will partner with Artifi, an art gallery and tokenization initiative by Canadian feminist, philanthropist and art collector Nazima Khan, to promote women artists globally. The IBC Group will leverage its extensive experience in Blockchain and crypto markets, to enab...