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Washington Investors Set to Reclaim Digital Currency in GS Partners Settlement
11.10.2024
After over a year of negotiations, the Washington State Department of Financial Institutions (DFI) has joined a multi-state settlement agreement with GS Partners. Accused of violations under Washington’s Securities Act, the case centers on GS Partners’ Metacertificates and a multi-level...
Zimbabwe Limits USD Outflows for Departing Residents to $2,000
11.10.2024
The Reserve Bank of Zimbabwe (RBZ) has imposed a new limit on the amount of U.S. dollars that travelers can carry out of the country. Under the revised regulations, travelers are now limited to carrying a maximum of $2,000 in cash when departing Zimbabwe. Previously, travelers were allowed to carry...
SEC Chair Gary Gensler on Crypto: ‘It’s Unlikely This Stuff Is Gonna Be a Currency’
9.10.2024
Gensler also called out fraud in crypto: “With all respect, the leading lights of this field in 202[4] are either in jail or awaiting extradition right now.”
Putin Reveals Over 85% of CIS Trade Now in National Currencies
9.10.2024
Russian President Vladimir Putin announced that more than 85% of trade within the Commonwealth of Independent States (CIS) is now conducted in national currencies, highlighting a move toward greater financial independence. This development is part of broader efforts by CIS countries to reduce...
India Denies Targeting US Dollar as Dedollarization Reshapes Global Trade
8.10.2024
India’s External Affairs Minister S. Jaishankar clarified that the country is not targeting the U.S. dollar in its economic policy, despite shifts in global trade and currency usage. Speaking in Washington, he emphasized that India’s trade adjustments are driven by practical concerns...
BRICS Unified Currency Deemed Premature by Russian Official
8.10.2024
Russia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies...
ECB official proposes unified European ledger for digital assets
7.10.2024
European Central Bank executive board member Piero Cipollone would like to see a sort of European union for digital assets
New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes
7.10.2024
New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the growing virtual currency sector. The role involves using...
Swift to Pilot Digital Asset and Currency Transactions in 2025
7.10.2024
Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges...
Zimbabwe Injects $50 Million to Bolster Devalued Currency
6.10.2024
The Reserve Bank of Zimbabwe (RBZ) has injected an additional $50 million into the market to support the foreign exchange system. However, industry leaders believe the bank is not doing enough to facilitate the smooth operation of the market. They argue that the policy requiring companies to have...
BRICS Unified Exchange to Leverage Blockchain and Virtual Currency for Settlements
3.10.2024
Deputy Chairman of the State Duma Alexander Babakov proposed creating a unified BRICS exchange using blockchain and virtual currency for inter-bloc settlements. Babakov stated that such an organization “will be the key to the economic sovereignty and independence of our countries,”...
IMF pressures El Salvador to overhaul Bitcoin regulations
3.10.2024
According to the International Monetary Fund, El Salvador has a 3% annual GDP growth rate and roughly $144 million in outstanding loans
Banks to join SWIFT digital asset trials in 2025
3.10.2024
SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its upcoming digital currency trials in 2025
Stablecoins now 43% of Sub-Saharan Africa crypto tx volume: Chainalysis
2.10.2024
Nigeria and Ethiopia have both experienced local currency devaluation which has driven stablecoin adoption.
Nigeria Unveils Oil-for-Naira Program to Stabilize Local Currency
2.10.2024
Nigeria began selling crude oil to billionaire Aliko Dangote’s new refinery in naira on October 1st. This “oil for naira” scheme aims to ease pressure on the struggling Nigerian currency, the naira, which has lost significant value this year. However, the success of the scheme...
UBS Warns of Further US Dollar Decline, Advises Investors to Reduce USD holdings
1.10.2024
Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term decline due to shrinking interest rate advantages and a growing fiscal deficit. With the dollar down 5% since June, UBS recommends strategies...
Ghana Launches Gold Coin Priced in Local Currency
30.9.2024
Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi, Ghana’s currency continues to depreciate against...
Sound Money Defense League Executive: Gold Protects Against Inflation, Fiat Risks
29.9.2024
In a recent interview with Kitco News, Jp Cortez, the executive director of the Sound Money Defense League, discussed the growing sound money movement across the United States. Cortez emphasized the significance of legislative wins, such as the removal of sales taxes on precious metals in...
Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’
28.9.2024
With two days remaining in September, bitcoin’s monthly gain stands at 11.11%, setting the stage for the widely anticipated ‘Uptober.’ Historically, October has been a strong month for bitcoin, delivering positive returns 81.82% of the time since 2013. ‘Uptober’...
Zimbabwe Devalues Gold-Backed Currency by 44%
28.9.2024
The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, causing the currency to plummet from 13.98 to 24.3 against the U.S. dollar. This drastic move addresses rising exchange rate volatility and inflationary pressures that have plagued the economy since August. According...