SINGAPORE TAXES INCOME EARNED FROM NFT TRANSACTIONS
Income tax registration in Singapore will be determined depending on the nature and use of the NFT.
Chapter 4. Fundamentals of technical analysis
What is a long position (purchase)?
A long position implies the purchase of an asset based on the growth of its value. Long positions are often used in the context of derivatives products and the foreign exchange market, but they are applicable to almost any asset class or market type. Buying an asset on the spot market in the hope of an increase in its price is also a long position.
Chapter 2. Financial Markets and Trading Instruments
What is a financial instrument?
To put it simply, a financial instrument is an asset that can be traded. Examples can be cash, precious metals (such as gold and silver), documents confirming ownership of something (for example, business or resources), the right to supply or receive cash, and much more. Financial instruments can be complex, but the basic idea is that, whatever they are and whatever they represent, they can be traded.
The governor of the Central Bank of the Philippines, Benjamin Diokno, said that the bank will not launch its own digital currency, since most citizens of the state prefer to use cash.
In September, the Central Bank of the Philippines Bangko Sentral ng Pilipinas (BSP) began exploring the possibility of launching a digital Philippine peso to improve the quality of financial services. However, in a recent speech, BSP manager Benjamin Diokno said that the central bank does not plan to launch it in the near future. He explained that the vast majority of the country's residents prefer to use cash, and are heavily dependent on it. In addition, settlement systems in their current state allow for fairly efficient payments in the country, Diokno said.
Cryptocurrency ownership is growing, but investors are not abandoning traditional financial services due to the growing interest in crypto assets. On the contrary, crypto investors are more likely to use multiple financial service providers than the general population, according to a recent report by the global business analytics company Morning Consult.