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French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud
28.3.2023
On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial...
How does the economy work?
26.3.2023
The economy is a system of producing and exchanging goods and services in a society
What is fiscal policy, and why does it matter?
25.3.2023
Fiscal policy shapes economies through government spending, taxation and borrowing
Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%
10.3.2023
On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion increase in military spending, but the administration...
Expert Warns of Possible Deflationary Depression as Money Supply Contracts: ‘Pay Attention to QT and the Money Supply’
9.3.2023
During the Covid-19 pandemic, central banks such as the U.S. Federal Reserve loosened fiscal and monetary policy. Now, these same financial institutions are seemingly engaging in quantitative tightening (QT) practices. According to Nick Gerli, CEO and founder of Reventure Consulting, “the...
Bridgewater CIO Warns of Deeper, Longer, and ‘Much More Painful’ Recession Than What We’re Accustomed To
13.2.2023
Bridgewater Associates’ co-chief investment officer has warned about a recession that is “much more difficult” and “much more painful” than what we’ve been accustomed to. “The dam has been broken where fiscal policymakers are now part of the story,”...
IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed
12.2.2023
According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of bitcoin. However, the United Nations financial...
Report: Nigeria Debt Management Office’s $48.8 Billion Debt Contravenes the Law Says Expert
15.1.2023
The Nigerian Debt Management Office (DMO) contravened the law when its borrowings exceeded the set limit which is equivalent to $2.2 billion, Adetilewa Adebajo, an international financial markets expert has reportedly said. Adebajo also suggested that the Central Bank of Nigeria governor Godwin...
World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’
11.1.2023
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7%...
SEC Strategic Plan: Crypto Initiatives Among Top Priorities Over Next 4 Years
30.11.2022
The U.S. Securities and Exchange Commission (SEC) has revealed some initiatives involving crypto assets in its Strategic Plan for the fiscal years 2022-2026. The initiatives are intended to address the SEC’s top priorities over the next four years. SEC’s Strategic Plan for FY 2022-26...
SEC Enforcement Remains Focused on Crypto — Chair Gensler Says He’s ‘Impressed’ With Enforcement Results
17.11.2022
The U.S. Securities and Exchange Commission (SEC) says its Enforcement Division “remains focused on the rapidly evolving crypto asset securities space.” The securities regulator filed 760 enforcement actions in total this fiscal year. SEC Chairman Gary Gensler commented: “I...
IRS Building ‘Hundreds’ of Crypto Cases — Official Says $7 Billion in Crypto Seized in 2022
8.11.2022
The Internal Revenue Service (IRS) is building “hundreds” of crypto cases to crack down on tax evasion, an official reportedly said. In the fiscal year 2022, the IRS Criminal Investigation Division seized about $7 billion in cryptocurrency, which was double the previous year’s...
Economist Peter Schiff Warns the US Dollar Will Crash — Says ‘We’re Going to Default’
27.10.2022
Economist Peter Schiff has warned that the U.S. dollar will crash. Noting that the U.S. is “in a much bigger fiscal mess than Great Britain,” with a much bigger debt problem, Schiff stressed: “Can we possibly repay this debt? Of course not. Repaying the debt is impossible....
Crypto incubators have a responsibility to maintain fiscal discipline
24.10.2022
Incubators provide a foundation for many crypto companies and have a responsibility to ensure they’re taking steps to survive in a bear market
Autoridad fiscal de Argentina despliega por primera vez operativos para encontrar mineras cripto
12.9.2022
Según la AFIP, la semana pasada descubrieron tres granjas de minería de criptomonedas con irregularidades en el país
Colombia explora la creación de una CBDC para combatir la evasión fiscal
17.8.2022
Como parte de un programa de reforma impositiva, el gobierno del país sudamericano también planea imponer límites a las transacciones en efectivo
Dutch Law Enforcement Arrests Suspected Tornado Cash Developer in Amsterdam
12.8.2022
According to a statement from the Dutch Fiscal Information and Investigation Service (FIOD), law enforcement officials in Amsterdam arrested an unnamed 29-year-old suspected of developing the ethereum mixing application Tornado Cash. FIOD accuses the suspect of “concealing criminal financial...
Lebanon Ponzi Finance: World Bank Says Politicians Are to Blame for the ‘Deliberate Depression’
8.8.2022
Deliberately insufficient policy responses by successive Lebanese governments combined with the self-serving agreements by politicians are largely to blame for the country’s economic crisis, a report by the World Bank has said. The report concludes that the country needs to seriously engage...
As Countries Advance Fiscal Cooperation, Higher Taxes Could Come Crypto's Way - Davos
24.5.2022
Developed countries from across the world are moving towards increased fiscal cooperation that could lead to tighter taxation of corporations but also of personal assets under the so-called wealth tax, as indicated by the participants of a panel held during this year’s edition of the World...
Core Scientific strikes digital gold: Revenue up 800%, gross profit up 2500%
30.3.2022
The firm highlighted growth in hash rate, mining equipment sales, hosting revenue, digital asset mining income as key reasons for the improved performance