Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
Siya Kolisi, the South African national rugby captain, has partnered with one of the country’s leading cryptocurrency exchanges as part of a two-year educational cryptocurrency initiative.
Kolisi has teamed up with Luno in the exchange’s campaign which will be featuring several TV promotions to encourage new investors to approach cryptocurrency with more insight. In the advert, Kolisi likens his career in playing rugby with financial strategies and building up a strong financial game for later down the line.
“Like many South Africans, I am new to crypto investment, so I had to do some research before deciding to partner with Luno. I love that Luno focuses on providing education for new crypto investors like me so we can make better, long-term financial decisions.”
The general manager for Luno in Africa Marius Reitz points to the macro view of cryptocurrencies and the digital asset market, rather than looking at the close perspective of the cryptocurrency movements as a way for new investors to become confident in the industry. He noted that zooming out, one can see that the ups and downs don’t change the potential of cryptocurrency “to improve the world’s financial system, which is what its long-term value is based on. The long game in crypto means holding, rather than trading.” The industry is still new and investors should be considering a long-term approach to the market given how rapidly prices can shift in the short-term.