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Putin Reveals Over 85% of CIS Trade Now in National Currencies
9.10.2024
Russian President Vladimir Putin announced that more than 85% of trade within the Commonwealth of Independent States (CIS) is now conducted in national currencies, highlighting a move toward greater financial independence. This development is part of broader efforts by CIS countries to reduce...
India Denies Targeting US Dollar as Dedollarization Reshapes Global Trade
8.10.2024
India’s External Affairs Minister S. Jaishankar clarified that the country is not targeting the U.S. dollar in its economic policy, despite shifts in global trade and currency usage. Speaking in Washington, he emphasized that India’s trade adjustments are driven by practical concerns...
BRICS Unified Currency Deemed Premature by Russian Official
8.10.2024
Russia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies...
DOJ Charges 21-Year-Old in $37M Cyber Intrusion and Crypto Heist
4.10.2024
A 21-year-old from Indiana has pleaded guilty to cyber intrusion and cryptocurrency theft in a massive scheme targeting hundreds of victims. His actions involved stealing personal data and cryptocurrency worth over $37 million, with law enforcement crediting significant investigative efforts...
JPMorgan: Gold and Bitcoin Surge as Debasement Trade Gains Momentum
4.10.2024
Global investment bank JPMorgan’s analysts have highlighted the growing impact of the “debasement trade” in boosting gold and bitcoin prices. Gold’s rise is linked to inflation, geopolitical instability, and waning trust in fiat currencies. Both institutional and retail...
Privacy Coins vs Regulators: Balancing Anonymity and Compliance
3.10.2024
In the evolving landscape of digital currencies, privacy coins have emerged as a controversial and pivotal player. Designed to offer […]
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Ohio Senator Pushes for Cryptocurrency Tax Payments With New Bill
3.10.2024
Ohio State Senator Niraj Antani has introduced a bill to legalize cryptocurrency payments for state and local taxes. Emphasizing the importance of cryptocurrency in the present economy, the bill requires Ohio to accept digital currencies like bitcoin and allows state retirement systems to invest...
Stablecoins now 43% of Sub-Saharan Africa crypto tx volume: Chainalysis
2.10.2024
Nigeria and Ethiopia have both experienced local currency devaluation which has driven stablecoin adoption.
Select Group of Russian Firms Authorized to Use Crypto for Chinese Imports Amid Sanctions
29.9.2024
A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of Finance, this initiative targets firms handling...
Putin: Russia Examining Digital Currencies for Independent Payments
28.9.2024
Vladimir Putin highlighted that Russia is examining the use of national digital currencies to implement an independent and supranational alternative payment system. However, he also outlined the intricacies of building such a platform, given the level of integration of major trading partners with...
Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems
24.9.2024
Russia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial...
BRICS Beats Dollar Dependence: National Currency Settlements Exceed USD Payments
22.9.2024
The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can be avoided when paying with other currencies...
Lynette Zang: Hyperinflation Looms as US Dollar’s Purchasing Power Dwindles
22.9.2024
Lynette Zang, CEO of Zang Enterprises, asserts that hyperinflation is already underway, predicting a further decline in the U.S. dollar’s value. According to Zang’s recent interview with Kitco, the current financial trends indicate that the dollar’s purchasing power will reach zero, leading to...
IMF staff propose REDI framework to catalyze CBDC adoption
22.9.2024
IMF staff members introduced a high-level four stage framework, emphasizing regulation, education, design, and incentives to enhance CBDC adoption
Australian Central Bank Prioritizes Wholesale CBDC
19.9.2024
The Australian Central Bank is focusing on a wholesale central bank digital currency (CBDC) due to its potential economic benefits compared to a retail CBDC. The Reserve Bank of Australia (RBA) has launched Project Acacia, a three-year plan to explore wholesale CBDC opportunities. While the RBA...
Global Surge in CBDC Development: 134 Countries Now Exploring Digital Currencies
19.9.2024
New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing...
Fiat Currencies Will Be Irrelevant Within a Decade
18.9.2024
Following on from my April article titled “Democracy Fails Without Cryptocurrency,” I believe that we will see a complete collapse of traditional fiat currencies within the next ten years. These government-issued and controlled monies will be replaced by decentralized and permissionless currencies....
Russian Central Bank Eyes Digital Currency to Overcome Cross-Border Payment Obstacles
17.9.2024
Elvira Nabiullina, head of Russia’s central bank, has highlighted challenges in cross-border settlements, including payment issues and falling trade volumes. She emphasized the importance of finding new solutions, such as using digital currencies and cooperating with global partners,...
41 firms join BIS Project Agora to advance unified ledger applications
16.9.2024
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers
Swift Unveils Plan to Integrate Digital Assets and Currencies Into Global Payment Network
15.9.2024
Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re paving the way towards real-world solutions that...