Daily Archives: 03/02/2022

The Central Bank of Nepal is exploring the benefits of launching its own digital currency

The Central Bank of Nepal began to explore the possibility of launching its own digital currency, but in the next three years the Central Bank is not going to introduce it into the country’s financial system. Revati Prasad Nepal, Director of the Foreign Exchange Department of Nepal Rastra Bank, announced the creation of a special working group that will explore the benefits and risks of the possible introduction of a state stablecoin. In addition to…

IRS will refund a Tennessee couple’s Tezos staking tax deductions

The Internal Revenue Service (IRS) has recognized that staking profits are not subject to income tax unless denominated in USD and are prepared to reflect this in future tax rules. The U.S. District Court for the Middle District of Tennessee has ruled that the IRS is required to refund the Jarretts the tax credits they paid as Tezos (XTZ) staking income tax. In May 2021, Joshua and Jessica Jarrett filed a lawsuit alleging that the…