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The Pakistani government's proposal to amend the SBP Act, or herald its attempt to legalize cryptocurrencies, marks a shift in the country's financial policy. The amendment will allow the Central Bank of Pakistan (SBP) to issue digital currencies and manage the country's currency in both physical and digital forms, in addition to granting the SBP the authority to conduct CBDC operations,...
Tanzanian fintech startup Nala has raised $40 million in Series A funding to support its B2B payments platform called Rafiki. The oversubscribed round was led by San Francisco-based venture capital firm Acrew Capital, with participation from DST Global, Norrsken22 and HOF Capital.
Tanzania plans to amend the Income Tax Act to tax cryptocurrency transactions. The proposal includes a 3% withholding tax on income from digital asset transactions. Owners of digital platforms or facilitators of digital asset transfers will act as withholding payers. Foreign nationals operating such platforms must be registered under Tanzania's simplified tax regime. The government is expected to receive an additional $178,600 (465 million shillings). Finance Minister Mwigulu Lameck Nchemba Made...
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