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Belarus Looks to Ban Peer-to-Peer Crypto Transactions to Reduce Fraud
3.7.2023
The east European country is working on legislation to make it harder for fraudsters to get their hands on the proceeds of crime
Slovakia to Lower Tax on Income From Crypto Holdings
1.7.2023
Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians decided. Investors in Slovakia to Pay 7% Tax...
Report: Zimbabwe’s Central Bank Set to Launch P2P Platform for Facilitating Gold-Backed Digital Currency Transactions
20.6.2023
The Reserve Bank of Zimbabwe has said it is getting close to launching a peer-to-peer platform which will facilitate digital gold token transactions. The central bank said the launch of the platform is expected to help reduce local demand for the greenback. Governor John Mangudya said the tokens...
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims
9.6.2023
Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned...
BRICS Bank to Offer More Loans in Local Currencies — President Calls for ‘Diversified Global Currency System’
31.5.2023
The New Development Bank (NDB), aka the BRICS bank, is seeking to offer more loans in local currencies to reduce dependence on the U.S. dollar and avoid foreign exchange risk. “We need to create a diversified global currency system,” NDB’s president stressed, adding: “In the future, it...
Iraq Issues Ban on US Dollar Transactions to Bolster Usage of Iraqi Dinar
16.5.2023
The government of Iraq issued a ban on using the U.S. dollar for conducting business transactions on May 14. The ban, which is already in effect, is designed to bolster the usage of the Iraqi dinar, the fiat currency of the country, and to reduce the influence of the dollar and its exploitation...
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...
‘Smart Money’ Traders Reduce Pepecoin Holdings by $3M as Meme Coin Mania Cools
11.5.2023
PEPE token has dropped 63% since last week, when it reached a $1.8 billion market capitalization after a staggering rally
Will Biden's plan to tax crypto mining reduce emissions? Critics say no
5.5.2023
The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community
Central Banks Reduce US Dollar Swap Lines to Weekly Auctions Amid Moody’s US Banking Sector Downgrade
25.4.2023
After the tumultuous downfall of three major banks, namely Silvergate Bank, Silicon Valley Bank, and Signature Bank, several central banks made a collaborative announcement of a swift, coordinated emergency response. The intervention aimed to furnish U.S. dollar liquidity, with the intention...
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
25.4.2023
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand...
Indonesia Is Following BRICS De-Dollarization Lead, Says Central Bank Governor
25.4.2023
Indonesia is following the BRICS’ lead in de-dollarization and shifting away from the U.S. dollar in trade settlements and financial transactions, according to the country’s central bank governor. The BRICS nations are working on creating a common currency to reduce their USD reliance....
Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency
13.4.2023
According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their...
Roubini: We’re Shifting to ‘Bipolar’ Global Reserve Currency System With Chinese Yuan as Alternative to US Dollar
12.4.2023
Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the Chinese yuan as an alternative to the USD. Roubini...
French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’
10.4.2023
Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a conflict between the U.S. and China, and reduce...
Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy
9.4.2023
Economist Peter Schiff has urged people to get rid of their U.S. dollars now as a growing number of countries have escalated their efforts to reduce their dependence on the U.S. and the USD. “The dollar’s reserve currency status is in jeopardy, as is the American standard of living that...
Latam Insights — Alliance Against Inflation, BTG Pactual Launches Stablecoin, and Argentina Debuts New Dollar
8.4.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina...
Solana's Latest Tech Solution Aims to Dramatically Reduce On-Chain Storage Costs – Here's How it Works
7.4.2023
Popular layer-1 blockchain Solana has unveiled a new solution that will dramatically decrease the cost of storing data on-chain.
In a Thursday blog post, Solana Foundation tech lead Jon Wong said the "state compression" technology would bring down the cost of minting 1 million non-fungible tokens...
Bitcoin, Ethereum Technical Analysis: BTC Moves Above $28,500 as ETH Nears $2,000
5.4.2023
Bitcoin broke out of a resistance level of $28,500 on April 5, as crypto markets continued to react to economic data from the United States. Job openings in the U.S. fell below 10 million for the first time since 2021, which comes as employers began to reduce hiring efforts. Ethereum moved closer...
ASEAN Countries Take Steps to Reduce Reliance on US Dollar for Trade Settlements
4.4.2023
The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) are exploring ways to decrease their countries’ dependence on the U.S. dollar and promote the use of local currencies in trade settlements. “We must remember the sanctions imposed...