Search
IEA Report: Oil Prices on the Brink of Soaring as Supply Narrows and Demand Shatters Records
12.8.2023
The stage is set for a potentially striking upswing in global oil prices, as supply constricts and demand ascends to unprecedented levels. With oil reserves dwindling at a breakneck pace, OPEC’s spare capacity restrained, and powerhouse consumers like China and India snapping up record...
Central Bank of Argentina Reduces Dollar and Yuan Disbursement to Importers
21.7.2023
Importers are accusing the Central Bank of Argentina of stalling on the delivery of dollar-based payments under the pretext of high freight costs. According to importers, the Argentine government considers freight costs exceeding 15% of the value of the merchandise imported as an inconsistency....
Yuan Usage Soars in Argentina: Over 500 Companies Request to Pay for Imports in Chinese Currency, Report
27.6.2023
Over 500 companies in Argentina have reportedly requested to pay for imports using Chinese yuan as the U.S. dollar shortage worsens. “The central bank doesn’t have dollars so it needs the emergency aid China is offering,” a trade economist in Buenos Aires explained. Chinese Yuan Usage Hits Record...
Argentina Settled Almost 20% of Its Imports in April and May Using the Chinese Yuan
20.6.2023
The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves...
Iran Sets Up Platform to Facilitate Crypto Payments for Imports
3.5.2023
Authorities in Iran are taking steps to make crypto payments easier for companies importing goods in the sanctioned country. A dedicated platform has been established to allow local businesses to transfer cryptocurrency for the purpose of cross-border settlements. Iran to Use Cryptocurrencies...
Russia Negotiating Free Trade Deal With India to Facilitate Imports in the Face of Sanctions
18.4.2023
Russia is in the process of negotiating a free trade deal with India in order to substitute part of the products and investments that were banned by sanctions enacted after the Ukrainian conflict erupted. Russia is now the largest oil supplier of India, with the country taking advantage of...
Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown
12.2.2023
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat...
EU Bans Crypto Services for Russians in New Sanctions Over Ukraine Escalation
7.10.2022
An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex Ukrainian territories. EU Council Adopts...
Iran Starts Licensing Crypto Miners Under New Regulatory Framework
5.9.2022
The government of Iran has reportedly started issuing licenses to crypto miners under the new “comprehensive and detailed” regulatory framework approved last week. The authorities previously issued licenses to a number of crypto mining operations but halted the process due to power...
Iranian Government Approves ‘Comprehensive and Detailed’ Crypto Regulations
1.9.2022
The government of Iran has finalized a set of cryptocurrency regulations. A “comprehensive and detailed” law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said....
Iranian businesses get the green light to use crypto for imports
30.8.2022
Iran's Trade ministry has approved the use of cryptocurrency payments for imports in a bid to bolster trade in the country
Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade
23.8.2022
Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread...
Iran Places First Official Import Order With Cryptocurrency Worth $10 Million
10.8.2022
Iran has placed its first official import order using cryptocurrency worth $10 million, according to a government official. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” the official added. Iran...
Gold ‘Clearly Turned Bearish’ Says Societe Generale as TD Securities Strategists Expect Further Downside
20.7.2022
According to market analysts, the precious metal gold is officially in a bear market and prices could remain suppressed over the next few weeks. Moreover, while the macroeconomic backdrop has been gloomy, the popular safe haven asset has lost 17.50% in value against the U.S. dollar during the last...
Abkhazia Extends Crypto Mining Ban Till End of Year
6.4.2022
Authorities in Abkhazia have decided to maintain a ban on cryptocurrency mining in the territory. The partially recognized republic in the South Caucasus is restricting the energy-intensive extraction of digital currencies, citing problems with power supply. Bitcoin Mining Remains Prohibited...
Singapore to Impose Restrictions on Russian Financial and Crypto Transactions
6.3.2022
In a rare move, Singapore is going to introduce restrictions on certain Russian financial transactions and crypto operations aimed at evading sanctions. The decision comes amid officially expressed concerns that Moscow’s invasion of Ukraine is a threat to the security of small states around...
Kazakhstan President Orders Government to Find All Miners and Raise Tax by April
10.2.2022
President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted....
Russia Considers Selling Power to Kazakhstan Amid Deficit Caused by Crypto Miners
30.10.2021
State-owned Russian energy giant Inter RAO is now discussing electricity supplies for Kazakhstan where crypto miners have allegedly caused a spike in consumption this year. The country is expecting the power deficit to reach 600 megawatts as demand during the winter increases even further....
Iranian Lawmakers Oppose Crypto Restrictions, Call for Supportive Regulations
22.9.2021
Members of the Iranian parliament, the Majlis, have voiced concerns over Tehran’s restrictive policies towards innovations such as cryptocurrencies. Following the release of a study recommending a new approach towards the crypto industry, the lawmakers have called for the adoption...
Home Crypto Mining Spikes in Brazil Amid Record High Unemployment
31.5.2021
With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than...