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Nigeria vowed to ban person-to-person cryptocurrency trading in the naira, taking its latest step to corral an industry which the West African nation blames for harming the battered local currency. Securities and Exchange Commission Director General Emomotimi Agama also told a meeting with fintech professionals on Monday that new rules would be rolled out ...
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In the context of cryptocurrencies, “cost basis” refers to the initial outlay paid for digital assets. It is an important consideration when calculating capital gains or losses from the sale or disposal of cryptocurrencies. The capital gains or losses on an investor’s crypto sale are calculated as the selling price minus the cost basis. To avoid tax ...