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Bolivia is witnessing a surge in cryptocurrency adoption as Meru launches a blockchain wallet that integrates with Visa, Mastercard, and MoneyGram, targeting freelancers across Latin America. The wallet, built on the Stellar blockchain, offers self-custody and DeFi features, facilitating over 50,000 transactions worth more than $13 million. With cryptocurrency transactions exceeding $75 million in just four months, the trend reflects a growing demand for digital financial solutions in the region.
Meru has launched a blockchain wallet in Bolivia, integrating with Visa, Mastercard, and MoneyGram, targeting freelancers across Latin America. The wallet, built on Stellar's blockchain, allows self-custody and DeFi returns, reflecting a surge in cryptocurrency transactions exceeding $75 million in four months. With over 50,000 transactions processed, Meru aims to enhance digital payment adoption and support remote workers in the region.
Switzerland has suspended India's Most Favoured Nation (MFN) status effective January 1, 2025, citing a 2023 Supreme Court ruling regarding the Double Taxation Avoidance Agreement (DTAA) with Nestle. The Court determined that benefits from other countries' DTAAs cannot be claimed by Switzerland unless its own agreement is amended and notified under Indian law. This decision underscores the necessity of reciprocity in international tax treaties.
MetaMask has launched its debit card in Brazil, Mexico, and Colombia, enabling users to seamlessly convert crypto to fiat for daily transactions at any Mastercard-accepted location. This initiative aims to bridge traditional finance and decentralized assets, enhancing the practicality of cryptocurrencies without relying on exchanges. The card supports various digital assets, initially focusing on Linea network tokens, and is part of MetaMask's broader strategy to expand DeFi solutions in Latin America.
Switzerland has suspended the 'Most Favoured Nation' status in its tax treaty with India, imposing a 10% tax on dividends from Indian entities starting January 1. This decision follows a Supreme Court ruling regarding the applicability of the MFN clause, particularly in relation to the Nestlé case, and may lead to renegotiations of the existing tax treaty amid India's recent trade pact with the European Free Trade Association.
Switzerland has suspended the most favoured nation (MFN) status for India, resulting in a 10% tax on dividends from Indian entities starting January 1. This decision follows a Supreme Court ruling that clarified the MFN clause's applicability concerning OECD membership. India's Ministry of External Affairs indicated that the double taxation treaty with Switzerland may need renegotiation due to India's recent trade pact with the European Free Trade Association, which aims to attract $100 billion in investments over the next 15 years.
Switzerland has revoked the most-favoured-nation status for India under their double tax avoidance agreement, following a 2023 Supreme Court ruling regarding Nestle. Starting January 1, 2025, the tax rate on dividends will increase from 5% to 10%, impacting Indian companies' competitiveness. Experts warn that other nations may adopt similar measures, citing concerns over reciprocity in tax treatment.
Switzerland has suspended the Most Favoured Nation (MFN) status in its Double Taxation Avoidance Agreement with India, following a Supreme Court ruling that limits the MFN clause's applicability. This change will result in a 10% tax on dividends for Indian tax residents from January 1, 2025, increasing tax liabilities for Indian companies operating in Switzerland. The decision reflects a significant shift in bilateral tax treaty dynamics and may impact Swiss investments in India.
Switzerland has suspended the unilateral application of the most favoured nation (MFN) clause with India under the Double Tax Avoidance Agreement, reverting the withholding tax on Indian entities from 5% back to 10% effective January 1, 2025. This decision follows a Supreme Court ruling that affected the application of the MFN clause, highlighting the lack of reciprocity from India. Consequently, while Indian companies in Switzerland will still benefit from other DTAA provisions, dividends paid to Indian holding companies will now be taxed at the higher rate.
Stabull Finance has launched a decentralized platform on Ethereum and Polygon, offering an alternative to traditional FX and commodity swaps. After six months of beta testing, it now supports tokenized gold and eleven fiat-backed stablecoins, aiming to enhance on-chain trading efficiency and liquidity for non-USD currencies. The platform addresses challenges faced by existing automated market makers, promising improved capital efficiency and price discovery for liquidity providers and traders.
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