Africa and the Middle East Bitcoin and Blokzincirl to A weekly (7-13 November 2018) news, relevant to the country will try to offer the country.

South Africa

First launched in South Africa ICON: This week; The ICO project was launched with the SAFCoin system, which will be available soon. By the way, the trade was already activated for this situation. SAFCoin was first in the country. The ICO process lasted until 31 October.

On this occasion; Neil Ferreira, CEO and Founder of FHM Limited, the parent company, said:

“We are proud to be a part of the blockchain and crypto money revolution. We are excited to bring SAFCOIN, its mobile application and foreign currency to the people of South Africa. "

South African authorities are currently; he advocates the exchange of crypto currencies and the self-regulation of these money projects. Only the yasal Know-your-customer under and Anti-Money-Laundering laws have been passed for this area.

Nigeria

Concern for Bitcoin in the Banking Sector: A senior regulator of the Nigerian Deposit Insurance Company (NDIC); In a recent interview with the local newsletter The Sun, he expressed concern about the elimination of crypto coins and intermediaries:

”Intermediation is when investors start investing directly in crypto-currencies or other markets, rather than investing in banks and bank accounts.“

Ibrahim Umaru, a senior editor, said in a question:

Yan In addition to the partial division of the banking system resulting from the proliferation of digital currencies, such as Bitcoin, finance technology activities are a critical concern for the company. “

NDIC was established in 1988 to regulate the liberalized banking sector in the African country. Nigeria is now facing a crypto-currency revolution with a presidential candidate pledging to legalize the country's crypto money.

Kenya

More Vendors and Small Business Begins to Accept Bitcoin: Many Kenyan small businesses accept payments with Bitcoin in the country after the government adopts a crypto-money stance. For example; Health Land Spa, Boxlight Electronics Limited and many other restaurants and small business are now accepting Bitcoin as payment.

The reasons for the adoption of crypto money are diverse, including ease of use, reduction of inflation in the country, or just for innovation. The Nigerian government is watching the situation. Moreover, he has so far avoided having a fight with the crypto-currency industry.

Israel

Tax Office Receives Follows on Tax Evasion in Crypto CurrenciesThe Israeli Tax Administration has begun to aggressively track the country's crypto and tax evasion. The new measures include notices sent to the addresses of traders, as well as the monitoring of overseas expenditure of traders who do not write revenue sources.

According to the Israeli News Agency Calcalist:

"Bitcoin; It shall be considered as an asset in accordance with the Income Tax Regulation. Sales will be taxed in the form of goods-sale. Revenues from sales will be classified as capital income and the capital gain will be taxed according to the fixed tax rates. "

At present, in Israel, net income of 25% Capital Income Tax and 17% VAT are applied over the crypto money gain.

Saudi Arabia and the United Arab Emirates

Call for the Use of a Common Crypto Currency for Money Transfers from Central Banks: According to the local newspaper Gulf News; The Central Bank of the UAE and the Saudi Arabia Monetary Authority (SAMA) are working on a project to create a common crypto currency between the two countries for cross-border transactions.

According to the President of the Central Bank of the UAE Mubarak Rashid al-Mansour:

Tir This is probably the first time that different countries have witnessed the co-operation of monetary authorities. We hope that this success will support similar cooperation in our region. Bu

However, this new initiative is at the forefront. Whether this crypto-currency co-operation actually happens or not is a big curiosity.

Source: Bitcoinnews