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Coinbase International Exchange launches amid SEC crypto crackdown in the US
2.5.2023
The Coinbase International Exchange will roll out trading by listing Bitcoin and Ether perpetual futures
Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries
2.5.2023
International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia. While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of...
US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion
2.5.2023
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission...
‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says
1.5.2023
Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing crypto in foreign trade transactions, he indicated....
Syria Urges BRICS to Lead in Ditching Dollar, Talks Yuan Adoption With China
1.5.2023
BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade....
World’s Largest Regional Organization to Switch to Settlements in National Currencies
29.4.2023
A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation...
Russian Foreign Minister Sergey Lavrov States De-Dollarization ‘Can No Longer Be Stopped’
28.4.2023
Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not be stopped,...
Stablecoin Reserves Need to Be Diverse, EU Bank Agency Chief Says
27.4.2023
The EBA’s José Manuel Campa urged crypto players to start managing risks right away as new norms bed in
BRICS Currency Will Erode US Dollar’s Dominance, Former White House Economist Warns
27.4.2023
Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. If member nations use only a common BRICS currency for international trade, “they would remove an impediment that now thwarts their efforts to escape dollar hegemony,”...
ECB President Lagarde on De-Dollarization: Reserve Currency Status Should No Longer Be Taken for Granted
26.4.2023
European Central Bank (ECB) President Christine Lagarde has warned that the U.S. dollar’s reserve currency status “should no longer be taken for granted.” Acknowledging de-dollarization efforts by various countries, she stressed: “New trade patterns may have ramifications...
FTX's LedgerX Derivatives Exchange Sold to Miami International Holdings in Bankruptcy Auction
25.4.2023
FTX.US last purchased Ledger Holdings, the parent company of LedgerX, for $298 million in October 2021, according to audited financial documents viewed by CoinDesk
Russia to Increase Reliance on National Currencies in Energy Trade, Vows to Move Away From the US Dollar
24.4.2023
Russia will increase its reliance on national currencies to settle payments for its energy resources, moving away from the US dollar, according to Russian Deputy Prime Minister Alexander Novak. Novak noted there is a great interest in acquiring Russian energy resources, leading Russia to accept...
Russia to Work With Digital Currencies of Other Nations
23.4.2023
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled....
White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within
22.4.2023
In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants...
The Most Intense Consensus Ever Seeks Everyone’s Voice
21.4.2023
This year’s CoinDesk Consensus event, which will bring key policy and technical debates to the forefront, is especially important. While the withdrawal of a handful of previously agreed-upon speaking assignments undermines full representation on both sides of the issues, non-U.S. jurisdiction...
Iranian Professor: Saudi Arabia May Join De-Dollarization Shift as US Dollar Is Now ‘Unreliable and Dangerous’
21.4.2023
A University of Tehran professor and member of Iran’s Presidential Delegation to China has stressed the importance of de-dollarization for the international community. “The dollar has been used as a weapon by the U.S. against different countries. It is unreliable and it is dangerous,”...
Dollar Dominance Fading Amid Growing China Trade, Russia Sanctions Risks, Ray Dalio Says
21.4.2023
Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted...
Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements
19.4.2023
Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank...
Russian Central Bank OKs ‘Experimental’ Use of Crypto in International Trade – More Crypto Adoption Incoming?
18.4.2023
The Russian Central Bank has said it is prepared to allow trading firms to do international business in a controlled “experimental” environment.
Per RIA Novosti, the Central Bank Governor and long-serving Vladimir Putin ally Elvira Nabiullina has come to terms with the fact that “cryptocurrency...
IMF Says Sub-Saharan Africa Already Feeling Effects of the ‘Big Funding Squeeze’
18.4.2023
Countries from the Sub-Saharan Africa (SSA) region face a “big funding squeeze” which is forcing some of them to cut spending on health, education, and infrastructure. According to Abebe Aemro Selassie, people from the region are already “feeling the effects of the funding...