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On January 16th, Deutsche Bank economist Sanjay Raja said that after the disappointing end of the British economy in 2024, it may continue to disappoint at the beginning of 2025. According to Deutsche Bank estimates, the British economy grew by only 0.1% in November after two consecutive months of contraction, which means that the UKs overall output may have stagnated in the second half of last year. Raja said that economic activity may pick up at the beginning of the new year as household budgets improve, housing demand rises and corporate investment increases. But he said that in the sluggish economic atmosphere, high expectations may still be disappointed. He told clients in a report: "Unless market sentiment picks up, we may see the recent GDP disappointment continue into the new year."Bank of America (BAC.N) Chief Financial Officer: We dont think this will have any material adverse financial impact on the company.Bank of America (BAC.N) Chief Financial Officer: We have been working closely with the U.S. Office of the Comptroller of the Currency over the past year to enhance our customer due diligence and anti-money laundering procedures.January 16, the minutes of the European Central Banks December meeting released on Thursday showed that policymakers concluded last month that the European Central Bank needs to cut interest rates cautiously and gradually, but further easing may be possible in the future. The ECB cut interest rates for the third time in a row last month and said that it would further ease policy in view of the slowdown in inflation, but the timing and speed of the rate cuts remain to be discussed. The minutes of the ECB meeting pointed out that "given the current uncertainty, this cautious approach is still reasonable, but if the benchmark forecast for inflation in the coming months and quarters is confirmed, it is considered appropriate to gradually relax policy restrictions." With almost no economic growth at present, the ECBs focus has shifted from excessive price growth to weak economic activity, and more and more policymakers now advocate that interest rates should at least be lowered to a level that no longer hinders economic growth. The central bank will hold its next meeting on January 30, and investors have fully digested its expectations of another 25 basis point cut. The benchmark interest rate is expected to fall further to 2% by the end of 2025.Ukrainian President Zelensky: Britain will provide Ukraine with $3 billion from frozen Russian assets.

ICO Market Revival Imminent in Crypto South Korean

Jimmy Khan

May 09, 2022 09:57

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Initial coin offers (ICO) are once again making headlines in South Korea. Since 2017, South Korea has had an ICO prohibition in place.


The South Korean Presidential Election this year used digital assets. President-elect Yoon targeted young voters in March by minting NFTs on the AERGO blockchain for 50,000 Korean Won apiece.


The South Korean government is examining additional sectors of the digital asset industry to foster innovation after Yoon's election victory.

Government of South Korea Plans The 2017 ICO Ban Has Been Lifted

The Presidential Transition Committee of South Korea unveiled a new crypto framework last week. The Digital Asset Framework Act aims to increase investor confidence and development in the digital asset industry to encourage innovation and growth.


The government intends to introduce two types of ICOs, security and non-security, according to the article.


"ICOs need a reexamination according to the appropriate financial reporting rules," Do Gyu-sang, deputy head of South Korea's Financial Services Commission (FSC), said in the study.


"We cannot postpone the ICO any longer," Do allegedly remarked. The Capital Markets Act must incorporate the Initial Coin Offering (ICO). To do so, we'll have to go through several clauses again and consider how they relate to the (Virtual Industrial Rights Act) legislation or special law."


The announcement came as South Korea prepared to impose a 20% tax on crypto capital gains of more over 2.5 million won.


South Korea officially banned initial coin offerings (ICOs) in September 2017. (ICO). The prohibition was huge news at the time. Initial coin offers (ICOs) were the most common way for cryptocurrency firms to generate funding.


Cybercriminals ruined an efficient tool for genuine entrepreneurs to obtain funds during the ICO boom.


For entrepreneurs, ICOs were appealing because they eliminated the need for middlemen. Native coins might be purchased at a discount for investors.


The growth in scams was of more concern to the South Korean authorities and even the Chinese government, which imposed a ban before South Korea.


There has been talk about the crypto capital gains tax since Yoon's inauguration on Tuesday, May 10.


South Korea intends to postpone the implementation of a harsh cryptocurrency tax.


According to Reuters, South Korea's crypto tax will be delayed by one year, until January 2023. The National Assembly is said to have enacted a law deferring the capital gains tax on cryptocurrency trading for a year.


The South Korean administration is apparently intending to postpone the crypto tax even longer.

South Korea might become a hotspot for digital assets and innovation if the ICO market is reopened and the 20 percent crypto capital gains tax is removed. Other jurisdictions have enacted more restrictive policies, which may need to be revisited.


Cardano (ADA), EOS (EOS), Ethereum (ETH), and NEO are among the most successful ICOs in terms of Return on Investment (ROI) (NEO). In comparison to the current price of $2,669, the ICO price for ETH was $0.311.

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