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Xi Jinping and Putin Discuss BRICS Cooperation With Brazil’s President
27.5.2023
Chinese President Xi Jinping and Russian President Vladimir Putin engaged in phone conversations with Brazilian President Luiz Inácio Lula da Silva regarding their joint work within the BRICS group ahead of the economic bloc’s leaders’ summit. Lula has been a vocal advocate of ditching...
Moody’s on De-Dollarization: Rating Agency Labels US Debt Default a ‘Near-Term Danger to the Dollar’s Position’
27.5.2023
As calls for the creation of a global alternative to the greenback grow, credit rating agency Moody’s said on May 25 that rival currencies such as the euro and the Chinese yuan do not yet threaten the U.S. dollar’s position as the world’s reserve currency. The agency said...
Putin Believes Decentralization Will Help Global Economy Be More Resilient
26.5.2023
Russian President Vladimir Putin has stated that the decentralization of the finance system might benefit the global economy, allowing it to be more resilient in the long run. At the second Eurasian Economic Forum, Putin explained that building this decentralized system would allow for...
Florida Governor Ron DeSantis Joins US Presidential Race, Promises to Protect Bitcoin
25.5.2023
During a virtual discussion with Twitter’s proprietor Elon Musk on Wednesday, governor Ron DeSantis of Florida declared that he is throwing his hat into the ring for the presidency of the United States in 2024. DeSantis will confront the reigning president Joe Biden in addition to...
Russia and China Carry Out Most Settlements in Yuan and Ruble, Russian PM Mikhail Mishustin Says
24.5.2023
The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this year, added the head of the Russian government....
Report: Emerging Market Investors Dumping Dollar-Denominated Debt and Seeking Local Currency Bonds Instead
24.5.2023
Emerging markets investors are being attracted by local currency-denominated bond instruments while leaving dollar-denominated debt, according to data provided by EPFR Global, a fund flow and allocation data insights company. These markets have outperformed dollar-denominated debt due to...
China, Russia Urged to Speed Up Creation of ‘Cutting Edge’ Payment Infrastructure for BRICS and SCO Currencies
24.5.2023
The chairman of Russia’s national economic development institution VEB.RF has urged China and Russia to speed up the establishment of a new, “cutting-edge” payment system for currencies of Shanghai Cooperation Organization (SCO) and BRICS nations. “Our relations with China keep getting...
Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners
24.5.2023
Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the domestic forex market. President Putin Orders Russian...
When pizza became the unsung hero of Bitcoin’s history: A cheesy celebration
22.5.2023
Join the cheesy celebration and learn how Bitcoin Pizza Day shaped the adoption of cryptocurrencies
Rand Plunges After US Weapons Accusations Against South Africa, Schiff Criticizes Misleading Inflation Numbers, and More — Bitcoin.com News Week in Review
21.5.2023
Another exciting week in crypto and finance has come and gone, with news of U.S. government accusations against South Africa, regarding the alleged supply of the Russian state with ammunition. In other news, ten Southeast Asian nations are challenging U.S. dollar dominance, having agreed...
Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements
19.5.2023
The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using national currencies and that they are considering also...
Hong Kong Launches Digital Currency Pilot With 16 Firms Including HSBC, Bank of China, Alipay
19.5.2023
The Hong Kong Monetary Authority (HKMA) has announced the commencement of its e-HKD pilot which “will take deep dives into potential use cases in six categories.” The pilot paves the way for “the possible implementation of a retail central bank digital currency (CBDC),” the central banking...
Venezuela’s President Declares Inevitable Shift Away From US Dollar in De-Dollarization Push
19.5.2023
Venezuelan President Nicolas Maduro has announced that Venezuela will shift away from using U.S. dollars in trade, emphasizing that the de-dollarization process is “inevitable.” He described: “This is the path of Venezuela and the path of a free economy where currencies are not used...
BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies
18.5.2023
South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to trade in our own currencies.” He also believes that...
Florida’s DeSantis Waging Toothless Campaign Against Digital Dollars, Lawyers Say
17.5.2023
The state-level campaign against a U.S. digital dollar made its first foray into established law with Governor Ron DeSantis’ signature on Florida’s effort to block the use of virtual government-backed money in business transactions
US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says
17.5.2023
A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed....
Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues
16.5.2023
Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting...
10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies
14.5.2023
The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar...
Governor Ron DeSantis Signs Bill Prohibiting Use of Central Bank Digital Currencies in Florida
13.5.2023
On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money....
Texas Lawmakers Vote To Cement Digital Currencies in Lone State’s Bill of Rights
11.5.2023
Texas lawmakers voted almost unanimously to change the state’s bill of rights to include the right of its residents to own, hold and use digital currency.
The joint resolution was passed through a 139-2 vote on Wednesday....
Read More: Texas Lawmakers Vote To Cement Digital Currencies in Lone...