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Central Bank of Turkey Expands Research, Prepares to Test Digital Lira on New Platform

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The Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of…

IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600

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On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the…