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Mainland China to ‘unban’ Bitcoin? Community says ‘unlikely’
15.7.2024
Mainland China has repeatedly banned certain activities related to Bitcoin, but it has somehow still remained a major player in activities like Bitcoin mining
Stablecoins would help US keep up with China: Former House speaker
17.6.2024
The need for the U.S to implement dollar-backed stablecoins “couldn’t be timelier” as China continues to come up with its own solutions, former House speaker Paul D. Ryan stressed
Stablecoins would help US keep up with China: Former House speaker
17.6.2024
The need for the U.S to implement dollar-backed stablecoins “couldn’t be timelier” as China continues to come up with its own solutions, former House speaker Paul D. Ryan stressed
Former House Speaker Paul Ryan: Stablecoins Can Help Fight an Upcoming US Debt Crisis and China’s Growing Influence
17.6.2024
Paul Ryan, a former speaker of the House of Representatives, has assessed the possible role that stablecoins will play in fighting an upcoming U.S. debt crisis. According to Ryan, the demand derived from the increasing relevance of dollar-backed stablecoins, which use U.S. treasuries as backing...
Former Bitmex CEO Arthur Hayes: A Weak Yen Solution Might Propel Bitcoin to $1 Million
23.5.2024
Arthur Hayes, former CEO of Bitmex and current CIO of Maelstrom, has predicted the geopolitical and economic dynamics that will be taken to equilibrate the exchange rate between the U.S. dollar and the Japanese yen might propel bitcoin prices to $1 million. Hayes states that eventually, the U.S....
HKIIF Chair Advocates for Hong Kong to Develop CNY-Pegged Stablecoin
20.5.2024
Xiao Geng states that the creation of a CNY-pegged stablecoin could expand the offshore Chinese yuan market and elevate Hong Kong’s status in the global financial sector.
The post HKIIF Chair Advocates for Hong Kong to Develop CNY-Pegged Stablecoin appeared first on Cryptonews
Morgan Stanley: US Dollar Has No Credible Challengers; Reserve Currency Status to Endure
20.4.2024
The U.S. dollar is likely to remain the world’s dominant reserve currency due to the absence of credible challengers. Morgan Stanley suggests that the Chinese yuan, often considered a potential rival to the U.S. dollar, currently falls short and is unlikely to dethrone the greenback. Reserve...
Bitcoin Reaches All-Time High Against Chinese Yuan, Exposing Central Bank Practices
28.2.2024
Bitcoin has hit an all-time high (ATH) against the Chinese Yuan (CNY) in the early morning. This follows a remarkable rally in the price of Bitcoin in the last two weeks as hype around the Bitcoin halving event builds.
The post Bitcoin Reaches All-Time High Against Chinese Yuan, Exposing Central...
Russian President Putin Discusses Dedollarization — Calls US Dollar Weaponization a ‘Grave Mistake’
11.2.2024
Russian President Vladimir Putin says the U.S. dollar is the main weapon used by the United States to preserve its power across the world. However, he stressed that when “the political leadership decided to use the dollar as a tool of political struggle, a blow was dealt to this American...
US Sanctions on Russia Similar to Planting a ‘Bomb Under the Dollar,’ Says Russian Analyst
30.1.2024
The United States’ sanctions against Russia are undermining confidence in the U.S. dollar and may force other countries to ditch the currency, a Russian financial analyst has said. The analyst said contrary to the West expectations, the sanctions against Russia have failed to destroy...
Xi Jinping Vows No Hegemony in China’s Approach to US, Aiming for Stable Ties
16.11.2023
On Wednesday, Chinese President Xi Jinping delivered a speech emphasizing China’s aspiration for harmonious ties with the United States. The Chinese head of state conveyed his vision of an enhanced “friendship in the new era” between the two influential countries. He firmly...
Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance
28.9.2023
In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...
JPMorgan Analyzes De-Dollarization Risk, Potential for Chinese Yuan to Displace US Dollar as Reserve Currency
5.9.2023
JPMorgan has provided an analysis of the risks of de-dollarization and the potential for the Chinese yuan to displace the U.S. dollar as the world’s reserve currency. The global investment bank says the renminbi could assume “some of the current functions of the dollar among non-aligned countries...
Chinese Yuan Not Ready to Topple US Dollar as World Reserve Currency, Says Strategist
2.9.2023
A global macro strategist has explained that the Chinese yuan is unlikely to replace the U.S. dollar as the global reserve currency. She emphasized that the “weaponization” of the USD is one of the top reasons why Russia, China, and other BRICS nations have been seeking an alternative...
US Dollar Dominance in Global Payments Strengthens, SWIFT Data Shows
27.8.2023
The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the share of the transactions involving the Chinese yuan...
Brazil Proposes Plan to Settle Bilateral Trade With Argentina in Chinese Yuan
26.8.2023
The government of Brazil has formally presented a proposal to Argentina to settle bilateral trade transactions in the Chinese yuan. The proposal, which would leverage resources in the Chinese credit swap line, aims to maintain trade between the countries and secure the payment of Brazilian...
Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist
23.8.2023
An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted, adding that “many commentators have...
Dutch ING Bank Analysts: BRICS Expansion to Power De-Dollarization Across World Economies
22.8.2023
Analysts of ING bank believe the de-dollarization trend that has been growing in the world might pick up momentum due to the possible expansion of the BRICS bloc. While the issuance of a BRICS common currency remains uncertain, according to some developing narratives, the Chinese yuan could become...
Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says
21.8.2023
A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are “unable to agree on a clear path to de-dollarization...
BRICS Bank Issues First ZAR Bonds as It Looks to Use Local Currencies
18.8.2023
The New Development Bank (NDB), established by the BRICS bloc of emerging economies, has issued its first bonds denominated in South African rand (ZAR). The auction, which was closed on Tuesday, is part of the bank’s efforts to increase both fundraising and lending in local currencies. Development...