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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...
China Court Classifies Digital Assets As Property Despite Blanket Ban By Government
1.9.2023
A People’s Court in China has stated that under the existing legal framework, digital assets have economic value and are still legal property backed by law.
In a recently published report cited by local media analyzing the legality of cryptocurrencies, the court highlighting the criminal...
US regulators deny blocking AI chip exports to Middle East
1.9.2023
The U.S. Department of Commerce denied blocking AI chip sales to the Middle East and remained silent as to whether the requirements were only imposed on specific countries
China court declares virtual assets as legal properties protected by law: Report
1.9.2023
Despite a blanket ban on cryptocurrencies imposed by Beijing in 2021, many Chinese courts over the years have established that virtual asset holders have property rights
Likou, China, to Become Digital Yuan ‘Demonstration Town’ – CBDC Adoption Gathers Pace?
1.9.2023
A Chinese town has agreed to become a digital yuan “demonstration town” after striking a CBDC deal with a major, state-run bank.
Per JSChina, the deal was struck in Likou, a town in Siyang County, near the city of Suqian in China’s Jiangsu Province.
The People’s Government of Likou Town...
US Lawmaker: Americans Don’t Need CBDC That Can Track Purchases Like China’s Digital Yuan
1.9.2023
Several lawmakers have expressed concerns about the privacy risks of the Federal Reserve issuing a central bank digital currency (CBDC). “Americans have a right to financial privacy,” one congressman said, emphasizing: “We do not need a CBDC that can track your purchases like China does...
Binance's Asia-Pacific Head Departs Amidst Market Share Decline and Regulatory Pressures
1.9.2023
According to Bloomberg's sources, Leon Foong, who served as the head of Binance Asia-Pacific, is leaving his position at the world's largest cryptocurrency exchange.
Foong was crucial in Binance's growth in South Korea, Thailand, and Japan. While an official announcement is pending, insiders have...
US officials extend export curbs on Nvidia AI chip to 'some Middle Eastern countries'
31.8.2023
U.S. regulators have told AI chip maker Nvidia and its rival AMD to curb exports of high-level semiconductor chips used to develop AI to certain Middle Eastern countries
China's Baidu and other tech companies release ChatGPT-like AI chatbots
31.8.2023
Multiple Chinese tech companies launched their own ChatGPT-like AI chatbots for mass market use two weeks after China’s AI regulations came into force which requires prior government approval
China Set for Digital Yuan Adoption Drive Ahead of Asian Games
31.8.2023
China is readying a fresh digital yuan adoption push ahead of next month’s Asian Games, with the nation ready to show off its CBDC to a large international audience for the first time.
Citizens in the pilot zones will be able to buy tickets for the event using the central bank’s official CBDC...
Will Evergrande’s collapse have a silver lining for crypto?
30.8.2023
This week, The Market Report discusses Grayscale’s victory against the SEC, the impact of Evergrande’s bankruptcy, and what happened to the 16 trillion PEPE tokens reportedly stolen
China’s JD, ICBC to Launch Digital Yuan Supply Chain Financing Solution
30.8.2023
Chinese firms and commercial banks are working on new digital yuan supply chain financing solutions, with a new CBDC smart contract solution set to launch.
Per CICC (via Cnfol), the latest innovation has been developed by JD Technology, in conjunction with the Industrial and Commercial Bank...
Chinese gov’t fires up the printer — How will it impact Bitcoin price?
29.8.2023
China enacted a number of economic stimulus initiatives to bolster its stock market but will there be a down the pipeline impact on Bitcoin?
The bright side of Evergrande’s collapse? More crypto volatility
28.8.2023
Evergrande’s ongoing bankruptcy saga has significant macroeconomic implications — including for the global cryptocurrency market
Bitcoin traders pinpoint support levels as BTC price taps $26.2K
28.8.2023
It's all about the 200-week EMA and the area just below $26,000 if Bitcoin bulls are to stand a chance, BTC price analysis says
Latam Insights: Brazil’s Lula Pushes for BRICS Currency; Binance Drops Card Programs
28.8.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil’s President Luiz Inacio Lula Da Silva pushes to issue a BRICS common currency, Binance drops card services, and Argentina gets invited to be part...
Venezuelan President Nicolas Maduro Calls for De-Dollarization of the Global Economy
28.8.2023
Nicolas Maduro, the president of Venezuela, has called to de-dollarize the global economy due to the difficulties the current system brings to emerging countries affected by U.S. sanctions. In a message directed to the BRICS leaders, Maduro called to establish alternative settlement systems using...
Oil Giants Joining BRICS a Strategic Success for China and Russia, Expert Says
28.8.2023
A German expert says that the BRICS economic bloc adding several oil giants as new members “is a strategic success for China and Russia.” The BRICS leaders announced at their annual summit last week that they have invited Saudi Arabia, the UAE, Iran, Argentina, Egypt, and Ethiopia to join as...
Report Reveals East Is Challenging West’s Long-Standing Gold Pricing Dominance
27.8.2023
A new report unveils a surge in gold acquisitions by Eastern nations, challenging the West’s long-standing dominance in gold pricing and altering the power equation in the global arena. Research Highlights East’s Rise as Challenger to West’s Gold Pricing Tradition In...
Heatwave and Debt: Laos Suspends Crypto Mining Operations Amid Rising Power Demands
26.8.2023
In recent developments, Electricite du Laos (EDL) announced on August 24 that the power company shut down cryptocurrency mining activities. This decision came after this summer’s unprecedented heat surge escalated electricity demands. Furthermore, these mining operations have reportedly been...