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Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
29.4.2024
Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and tariffs. Trump remains committed to preserving the U.S....
Zimbabwe to Launch ‘Structured Currency’ Linked to Gold, Says Finance Minister
14.2.2024
The Zimbabwean government plans to launch what it calls a “structured currency.” Some commentators and social media users have expressed skepticism over the government’s latest currency plans. Zimbabwe’s Structured Currency The Zimbabwean Finance Minister, Mtuli Ncube, has said...
BRICS Meeting: Iran Pushes for Common Currency — China, Russia Prioritize Settlements in Local Currencies
31.1.2024
The first BRICS sherpa meeting with 10 member states has kicked off in Russia with representatives from Brazil, Russia, India, China, South Africa, Saudi Arabia, the United Arab Emirates, Iran, Egypt, and Ethiopia. China, Russia, and Iran are all advocating for the use of national currencies...
Bitcoin builder climbs Africa's tallest mountain to raise awareness
30.10.2023
Advocates for the Bitcoin Lightning Network and decentralized protocol NOSTR fueled Kweks' Kilimanjaro climb
Crypto Firm Riot Defends Texas Power Strategy After Headlines Claim State ‘Paid’ Miner
10.9.2023
Bitcoin mining company Riot Platforms is defending its participation in Texas’ electricity market programs after recent headlines claimed the state ‘paid’ the miner over $30 million to reduce power in August. Riot Platforms Sets the Record Straight In a statement released Friday, the Nasdaq-listed...
Indonesia Expands De-Dollarization Efforts With National Task Force Formation
9.9.2023
Indonesia’s central bank has established a national task force to expand the use of local currency with partner countries. Malaysia, Thailand, Japan, and China are already trading with Indonesia using local currencies. In addition, Singapore and South Korea have signed cooperation agreements...
Dollar Share in Reserves Drops Below 60%, Yuan Rises, Russian Diplomat Says
2.9.2023
The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia...
Vietnam, the Philippines, and Brunei to Join ASEAN QR Payment System to Reduce Dependence on US Dollar
29.8.2023
Vietnam, the Philippines, and Brunei will join a QR payment system to settle cross-border payments using local currencies within the Association of Southeast Asian Nations (ASEAN) bloc. The network, already being used between Indonesia and Malaysia, aims to interconnect all ASEAN nations to reduce...
Analysis Says 2024 Halving Could Push Bitcoin to $400K, BRICS Declares Importance of Local Currencies in Trade — Week in Review
27.8.2023
This week’s hottest stories detail a potential skyrocketing of bitcoin’s price to $400,000, connected with the upcoming 2024 halving event, emphasis on trade in local currencies made at the conclusion of the recent BRICS summit in South Africa, and claims of 260% faster hash detection...
Russian Foreign Minister Sergey Lavrov: BRICS Is Focused on Reducing Dependence on US-Controlled System
26.8.2023
Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western allies. He denied a possible unified currency for...
Local Currencies Are Not Alternatives to the Dollar but the System, BRICS Bank Chair Says
23.8.2023
The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies, those of member states in particular, such the South...
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...
Binance Japan to Use KYC Services From Liquid
13.8.2023
The world’s leading cryptocurrency exchange, Binance, has selected Liquid as an identity verification partner for its Japanese platform. The services of the Tokyo-headquartered biometrics firm will allow Binance Japan to ensure its know-your-customer (KYC) procedures comply with Japan’s strict...
Bitcoin Miner Genesis Digital Assets Opens 3 New Data Centers in South Carolina
2.8.2023
Genesis Digital Assets (GDA), one of the world’s largest bitcoin mining companies, has opened three new data centers in the western region of South Carolina. The facilities represent GDA’s continued expansion in the United States, where its data centers now account for over 2%...
BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
23.7.2023
The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national...
Russia, 10 Southeast Asian Nations Discuss Using National Currencies in Trade Settlements
15.7.2023
Russia is discussing using national currencies in trade settlements with 10 Southeast Asian countries, members of the Association of Southeast Asian Nations (ASEAN), Russian Foreign Minister Sergey Lavrov has revealed. The move comes as more and more countries worldwide are seeking to de-dollarize....
BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention
9.7.2023
The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with...
Xi Jinping, Vladimir Putin Push for Increased Settlements in National Currencies
5.7.2023
Chinese President Xi Jinping and Russian President Vladimir Putin have pushed for the increased use of national currencies in mutual settlements as more countries shift away from the U.S. dollar. “I consider it essential to increase the share of settlements in national currencies”...
Binance Launches Regulated Crypto Exchange in Kazakhstan
23.6.2023
Licensed since last year, the world’s largest digital asset exchange, Binance, has now launched a trading platform in Kazakhstan. The move comes amid increased pressure from regulators in other jurisdictions, like the U.S., and after Binance’s decision to pull out of several European markets....
BRICS Nations to Encourage Use of Local Currencies in Trade
3.6.2023
Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new technologies that support it. BRICS to Stimulate...